Indy Home Marketing Newsletter

August, 2011 Newsletter

Volume 5, Number 8

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			Mortgage Rates Drop to New Lows... Mortgage rates hit new lows this week as U.S. Treasury bonds reached an all-time record low last week after several days of declines. The rates rate on the benchmark 10-year Treasury hit 2.08%, a drop from 2.98% after Standard & Poor’s downgraded the U.S. credit standing late last week. More


	Summer Lawn Care Essentials... In summer, lawns get hammered. There's extra wear and tear from weekend play, stress from summer heat, and correspond- ing pressure from utilities in some areas to cutback on watering. But if you start a sensible lawn-care program now, you can strengthen your turf going into sum- mer, help it stay greener, and give it a better chance against the ravages of in- sects and disease. MORE


		RECIPE OF THE MONTH Provolone & Pancetta Stuffed Chicken Breasts A savory stuffing of provolone cheese and pancetta gives a flavor boost to chicken breasts. Provolone is a cow's milk

cheese from southern Italy that has a firm texture and
mild flavor. Recipe courtesy of: Albertsons

INGREDIENTS:

•	1 tsp. plus 1 1/2 cups olive oil	•	1 cup all-purpose flour
•	2 garlic cloves, minced	•	4 egg whites, lightly beaten
•	1 tbs. minced fresh sage	•	Salt & freshly ground pepper
•	3 1/2 cups toasted bread crumbs
•	3 oz. aged provolone cheese, grated
•	6 oz. pancetta, cut into 1/4-inch dice
•	5 boneless, skinless chicken breast halves, each
	about 8 oz., pounded 1/2 inch thick

DIRECTIONS:

Create a pocket in each chicken breast: Lay the breast on
a work surface with the pointed end away from you. Insert
a long paring knife in the center of the end closest to you
(the rounded end). Move the knife around to enlarge the
opening, forming a pocket; be careful not to cut through
to the outside of the breast. Then remove the knife. Re-
peat with the remaining chicken breasts. Continued

Mortgage Rates Drop... (continued)

The drop in interest rates should act as a market mover for home
sales and refinancing. The 30-year fixed rate mortgage averaged
4.32% with 0.7 point, down from a week ago when the loan aver-
aged 4.39%, according to Freddie Mac. The 15-year fixed rate
loan also fell, reaching an average of 3.50% from 3.54% a week
earlier. The drop in rates could produce another wave of refi-
nancing activity and improve home sales, which have been
slow so far this summer.

“Renewed market concerns about the European debt markets led
investors to shift funds into U.S. Treasuries, pushing long-term
yields lower,” said Freddie Mac chief economist Frank Nothaft.

Mortgage rates are near historic all-time low levels, but were
even lower last October when the fixed 30-year loan hit 4.19%.
Another decline is possible for rates, but would be a major
gamble for anyone considering a lock-in on rates in the current
volatile financial marketplace.

The National Association of Realtors reports its home affordability
index, which the group has maintained since 1970 is at the lowest
level in the index’s history. Home prices have dropped in every
market in the U.S. since the real estate peak, but have shown
some price improvements since then.

The unprecedented downgrade by S&P was expected to trigger
mortgage rates to rise, but actually had the reverse effect as
banks and mortgage lending companies slashed rates in order
to get the highly qualified borrowers they are lending to these
days to apply for mortgages and other loans. Volatility on Wall
Street and in World financial markets are destabilizing econo-
mies and setting off a series of other problems, including riots
in London, which authorities fear could spread to the U.S.

The rate on the 5-year Treasury indexed adjustable rate mort-
gage averaged 3.13% this week, down from 3.18% a week
earlier. The 1-year Treasury ARM averaged 2.89% for the week,
a drop from 3.02% last week. The Federal Reserve said they
intend to keep interest rates low through at least mid-2013 as
economic conditions weaken across most of the country as
the U.S. struggles with high unemployment levels.

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SUMMER LAWN CARE ESSENTIALS (continued)

Fertilize. If you haven't fertilized yet this year – or if you're
growing heavy feeders such as perennial ryegrass, tall fescue,
Kentucky bluegrass, hybrid Bermuda, or St. Augustine – apply
2 pounds actual nitrogen per 1,000 square feet. If you've ferti-
lized during the past four months and aren't growing a heavy
feeder, give the grass 1 pound actual nitrogen per 1,000 square
feet. (The first number in a fertilizer bag's large, three-number
label gives the percentage of nitrogen in the bag. A 100-pound
bag of 29-3-4 fertilizer, for example, contains 29 percent actual
nitrogen, or 29 pounds.)

Mow. Cut often, so you never have to shorten the grass by more
than a third at one mowing. Use a mulching mower with a sharp
blade. Since grass clippings contain 3 to 5 percent nitrogen, they
feed the lawn if you let them drop (don't bag them). This allows
you to reduce your annual lawn-feeding program by half. Mow
your grass from 1-1/2 to 2 inches in height.

Dethatch. Most grasses develop thatch, a sponge-like layer of
roots, runners, and grass blades just above the soil surface.
Thatch interferes with the downward flow of fertilizer and water,
depriving plant roots; thin it now, if you haven't already done
so (use a dethatcher from a rental yard). The lawn will recover
quickly and will perform better through summer. Grasses like
Kentucky bluegrass and fine fescue should be dethatched in fall.

Water. Most lawns need about 1 inch of water per week. Apply
it deeply and infrequently rather than often and shallowly – and
early in the morning or late evening when there's less wind and
evaporation than during the heat of the day.

Control pests and diseases. To keep the lawn looking its best,
watch for signs of critter damage or disease, and deal with either
immediately.

- Dogs. If a dog urinates on your lawn, flood the area with hose
water. Don't try to repair doggy spots (dead spots among healthy
green grass) by fertilizing; the excess nitrogen in dog urine kills
the grass, so adding more nitrogen won't help. Remove dead
patches along with 3 to 4 inches of soil underneath; fill the hole
with a fresh piece of sod, or overseed.

- Insects. Insect problems vary regionally and seasonally. Your
area nursery can recommend what's the best product to protect
your lawn from most common insects, such as grubs.

- Diseases. Highly maintained lawns (mowed low, heavily ferti-
lized, and liberally watered) are the most subject to disease. Fight
disease by backing off on the fertilizer and water, and by raising
the mowing height by 25 percent.

- Weeds. On most lawns, weeds really take hold when the grass
starts to go dormant in July. Hand-weed small infestations as soon
as they appear. For larger infestations, try a pre-emergence herbi-
cide made from corn gluten meal (available at nurseries).

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RECIPE OF THE MONTH (Continued)

Season the chicken on both sides with salt and pepper. Stuff
each chicken breast with 2 tbs. of the cheese and 1 tbs. of
the pancetta mixture. Set the chicken on a wire rack-lined
baking sheet and freeze for 5 minutes.

Put the flour, egg whites and bread crumbs in separate
breading pans or shallow dishes. Dredge the chicken in the
flour, then dip into the egg whites and coat evenly with the
bread crumbs, pressing so they adhere. Set the chicken on
a wire rack-lined baking sheet and refrigerate 15 minutes.

In a wide pan over high heat, heat the 1 1/2 cups olive oil.
Working in batches, fry the chicken until crisp and browned
underneath, 5 to 6 minutes. Turn the chicken over, reduce
the heat to medium and cook until the chicken is cooked
through, 7 to 8 minutes more, adding more oil to the pan
if needed. Drain the chicken on a paper towel-lined plate.
Transfer to a platter and serve immediately. Serves 5.

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