Jan
24

It’s A New Year For Your Home Too

 

5 “resolutions” to make the most of your home in 2012

 

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House Logic, a site for homeowners, has taken the most common New Year’s Resolutions and turned them on their head — or perhaps “roof” would be more apt — to apply them to your home.

Lose weight

Reduce your energy consumption — and your energy bill — by implementing at least one energy-saving measure this year, such as

·      changing the light bulbs in your home to CFLs (don’t think “all or nothing” – try the least noticeable ones first, like in your halls and closets)

·      changing the temperature setting on your thermostat one degree

·      check and repair insulation around your doors, windows and especially your ductwork

·      For more energy saving tips and ideas, check out Energy Savers Guide: Tips on Saving Money and Energy at Home from US Department of Energy, Energy Saving Tips from Flex Your Power, and Save Energy at Home from Energy Star.

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Quit smoking

Purify indoor air — according to the EPA, poor indoor air quality is one of the leading environmental health hazards we face today. Here are a few ways to keep your home air cleaner:

·        for painting projects, choose low-VOC paints, which produce fewer toxic fumes

·        make sure task-specific ventilation is installed and working in your kitchen and bathroom to properly remove cooking fumes, smoke and humidity

·        if you have a fireplace, choose real wood rather than packaged logs that could contain toxins like formaldehyde

·        For more clean air tips for your home, check out Tips for Making the Air in Your Home as Clean as Possible from Clean Air Plus, How To Keep Polluted Air (If You Really Want To) from Air Purification and Indoor Air Publications and Resources from the EPA

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Get out of debt

Create an annual budget for improvements to your home — putting money aside for home projects will help you handle common repairs and maintenance that’s likely to come up during the year:

·        lending institutions like HSH Associates and Lending Tree estimate that average home maintenance costs are roughly 1% to 3% of your home’s initial price

·        Trusty Guides’ Home Improvement section can help you analyze the cost, budget and value of specific projects

·        For some ideas and tips on home maintenance planning and budgeting, see Budgeting for Home Maintenance and Repair Costs from Mint Life and How to Write Up a Household Budget from The Nest

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Get organized

The three key words to organization are: Routine, Storage, and Disposal

·        establish a routine to handle the most common (and repeated) tasks and items that create clutter (e.g., mail, magazines, outdoor wear, toys, etc)

·        ensure that everything has a place and that there’s a place for everything — and, no, “on top of the pile” doesn’t count

·        keep what you need, and immediately throw away what you don’t — it’s amazing how much clutter can be removed merely by sorting through it and tossing what you don’t need to keep

·        For more tips on organization, clutter and storage, try Peter Walsh’s Ten Ways to Declutter Your Home, Zen Habit’s 18 Five-Minute Decluttering Tips to Start Conquering Your Mess, Real Simple’s Home & Organizing, and HGTV’s Organization

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Be less stressed

Less maintenance should mean less stress — so where possible, use maintenance-free materials and solutions in your home, such as

·        LED and CFL bulbs require a bigger initial outlay than traditional light bulbs, but they not only pay for themselves over time through lower energy costs, they last anywhere from seven to 40(!) times longer than traditional bulbs, which means a lot less bulb changing for you

·        fiber-cement siding is some of the longest lasting (50 years or more) and toughest (resists fire, dents, and rot) siding you can choose for your home — and according to Hanley Wood, replacing your existing siding with fiber-cement has the highest return-on-investment of any home improvement project (of $1200 or more)

·        For more tips on low-maintenance home materials, see LSU Ag Center’s Low-Maintenance Materials and Products and Top 23 Low-Maintenance Projects from DIY Network

 

For more resolutions you can make for your home this year, see HouseLogic’s Top-10 List of New Year’s Resolutions for Your Home.
 

Jan
23

Do Some Houses Sell Faster Than Others?

An interesting infographic says “yes”

The site One Block Off the Grid (1bog.org), a free group discount site focused on solar energy solutions for home owners, recently published the following infographic showing some statistics about why some houses sell faster than others.

Jan
20

Why Buying A Home Is A Good Idea

The Best Investment

As a fairly general rule, homes appreciate about four or five percent a year. Some years will be more, some less. The figure will vary from neighborhood to neighborhood, and region to region.

Five percent may not seem like that much at first. Stocks (at times) appreciate much more, and you could easily earn over the same return with a very safe investment in treasury bills or bonds.

But take a second look…

Presumably, if you bought a $200,000 house, you did not pay cash for the home. You got a mortgage, too. Suppose you put as much as twenty percent down – that would be an investment of $40,000.

At an appreciation rate of 5% annually, a $200,000 home would increase in value $10,000 during the first year. That means you earned $10,000 with an investment of $40,000. Your annual “return on investment” would be a whopping twenty-five percent.

Of course, you are making mortgage payments and paying property taxes, along with a couple of other costs. However, since the interest on your mortgage and your property taxes are both tax deductible, the government is essentially subsidizing your home purchase.

Your rate of return when buying a home is higher than most any other investment you could make.

Jan
17

How Do You Make Your Garden Glow?

3 lighting ideas to make your outdoor space beautiful 24/7

Photo by California Waterscapes (Own work) [CC-BY-SA-3.0 or GFDL, via Wikimedia Commons]

 

Outdoor lighting can seem like an overwhelming prospect — too expensive, too complicated, too time-consuming. But while it is true that you can spend thousands of dollars and hours lighting up your landscape, it is also true that a little lighting can go a long way — without costing an arm and a leg.

1. Use The Power of the Sun

The sun can light up your landscape even at night. Solar powered lights have come a long way from the black posts that flicker unsteadily in the dark. From hanging lights to accent lights to pathway lights to tiki lights, solar lights are available in a variety of styles, forms and strengths. If you search for “solar garden lights” on Amazon.com, you get more than 4,000 results.

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Britta Hanging Solar Garden Light – Cornet Shaped Solar Lights (at Amazon.com)

2. Double the Light — Make the Most of Your Garden’s Water Features

Illuminating water features is a beautiful way to light up your garden at night — think of all the famous fountains in the world you’ve seen brilliantly lit at night. Whether you light from below, the side or floating on top, adding lights to a water feature is a sure-fire way to bring your garden to life at night.

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Bellagio Hotel Fountain in Las Vegas at night

 

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Chill Lite Bubble Floating Light Show – 3 Pack With Remote (at Amazon.com)

3. Watch Your Step with Motion Sensor Lights

Motion sensor lights have also come a long way from the big, metal spotlights mounted above doors and on the corners of your home. LED motion sensor lights can be placed on steps, down paths, on patios and decks — adding light where you need it when you need it.

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Mr. Beams Battery Powered Motion Sensing LED Remote Path Light (at Amazon.com)

Jan
17

HUD.GOV, U.S. Department of Housing and Urban Development : Project Rebuild

 


A review of the original structure revealed it was too badly deteriorated to be rehabilitated. The City of Hartford condemned and demolished the building. The soil, contaminated by industrial pollutants, was cleaned up by the City using NSP funds. Bank of America, which controlled the site through foreclosure, then donated the property to NINA for development.

Northside Institutions Neighborhood Alliance, Inc. (NINA), in partnership with the City of Hartford’s Department of Development Service’s Housing and Property Management Division, utilized funds from HUD’s Neighborhood Stabilization Program (NSP)to remediate a blighted property at 33 Sargeant Street, Hartford, CT. Located in the historic Victorian neighborhood of Asylum Hill, the property is an NSP success story.

The Asylum Hill neighborhood has historically suffered from chronically low rates of homeownership. For the last two decades, only 9% of its residential units have been owner-occupied. It is also one of Hartford’s poorest neighborhoods. According to the 2000 US Census, nearly 71% of the residents of the Sigourney Square District, where NINA focuses its efforts, earned less than $35,000 a year, and almost 30% of those residents paid half or more of their monthly income on rent.

NINA’s goal is to provide affordable, owner-occupied homes in the Sigourney Square District of Asylum Hill. NINA acquires blighted properties and rehabilitates them into homes for low- to moderate-income families and individuals. The home at 33 Sargeant Street is a case in point of how NINA and the City of Hartford have utilized NSP funds to remove blight and to provide homeownership opportunities in Asylum Hill.


Using NSP funding, NINA employed over a dozen local businesses, including eight of which were small, minority or women-owned. The businesses in turn provided jobs for close to 20 Hartford residents. NINA also worked with its partners ServCorps and YouthBuild Hartford to provide job training in construction trades for close to 50 Hartford youth.

Designed to fit the architectural and historic character of the neighborhood, 33 Sargeant Street has 3 bedrooms, 2.5 baths, and is Energy Star certified. The home’s design is adaptable for use by mobility-restricted individuals. It also has an ample backyard and off-street parking. It will be offered for sale for $185,000, ensuring an affordable home for a low- to moderate-income family.

Jan
16

Good News for Unemployed Homeowners

Freddie Mac and Fannie Mae announce mortgage forbearance extension

In another move geared to moving the housing market recovery along, the two major mortgage players, Freddie Mac and Fannie Mae, last week announced expanded relief programs for homeowners struggling with their loans due to joblessness. The thought that relieving some of the stress from the combination of joblessness and mortgage obligations will make it easier for distressed and out-of-work homeowners to focus on finding a new job and getting back on track with their home loan.

Freddie Mac and Fannie Mae Forbearance for Jobless now 12 Months

Freddie Mac and Fannie Mae now allow mortgage companies to grant unemployed borrowers payment suspension or reduction for up to 12 months. Previously, the maximum length for mortgage forbearance on Freddie Mac guaranteed loans was six months, with written approval from Freddie Mac.

FHA Forbearance was extended to 12 months last July

The Federal Housing Authority (FHA) made a similar move six months ago, in July 2011, when it mandated that mortgage companies offer 12 months of forbearance to qualified unemployed borrowers — up from a prior maximum of four months.

Nearly 60% of Outstanding Mortgages Backed by Fannie, Freddie and the FHA

The announcement from Freddie and Fannie impacts far more homeowners than did the FHA’s announcement last July — Freddie and Fannie together guarantee nearly half of all U.S. home loans, while the FHA backs less than 10 percent.

For more, read these articles:

Jan
09

News Flash: Housing is Important to Economic Recovery

Federal Reserve speaks up on the housing market

Consumer Confidence + Tight Credit + Too Much Empty Property = Slow Recovery

Last week the Fed sent a housing “white paper” to Congress discussing the importance of housing to the economic recovery. On Friday, Federal Reserve Governer Elizabeth Duke observed that “housing demand and homebuilding continue to be restrained by weak income and sentiment, tight lending standards, and a large overhang of vacant properties.”

Unemployment Improvement in Fits and Starts

Duke said she sees unemployment trending down and for inflation to settle to levels that are consistent with the Fed’s mandate. Unemployment does seem to be dropping: December’s jobless rate of 8.5 percent was the lowest it’s been in almost two years.

Housing Recovery is Critical to Economic Recovery

Duke also noted that, typically, the housing sector plays an important role in propelling economic recoveries — and that so far, the housing sector has not only contributed to the recovery, but the combination of substantially decreased home values and the hit on consumer confidence has not only slowed consumer spending, it has pushed a substantial number of homeowners underwater on their mortgages.

More Aggressive Government Support May Be the Answer

Both the white paper sent to Congress and Duke’s comments on Friday included suggestions that more aggressive policies and action from the government may be required to boost the housing market and spur economic recovery. According to Duke,

“policymakers should at least consider policies that take into account the role the GSEs [government-sponsored enterprises] could play in hastening the healing of the housing market rather than focusing entirely on minimizing losses to the GSEs. In the end, breaking the current logjam created by large numbers of loans severely past due or in foreclosure and high levels of distressed sales should help reduce losses to the GSEs by breaking the downward cycle in prices. And, I think it is plausible that a faster recovery in the housing markets could speed, rather than slow, the end of GSE conservatorship,”

For more of Duke’s comments at the Virginia Bankers Association/Virginia Chamber of Commerce 2012 Financial Forecast, and perspective on the Fed’s position on the housing market and recovery:

Jan
03

How Do You Like Your Light?

Time to say goodbye to the bulb that Edison made

Between now and 2014, lighting your home will by law become a more energy efficient endeavor. Standard incandescent bulbs, as per the “Energy Independence and Security Act of 2007,” will no longer be allowed to be manufactured in or imported to the U.S.A, which will change the lighting options available to you.

You can still get (and buy) regular lightbulbs

To be clear — the regulations that passed in 2007 (and that went into effect Sunday, January 1st) mandate a three-year phase out of the manufacture and import of incandescent bulbs. Buying and selling these bulbs is not against the law. According to the schedule laid out, the 100-watt bulb is the first to go — this year, 2012. In 2013, say goodbye to the 75-watt bulb. And in two years, 60- and 40-watt bulbs will no long be allowed.

Banned, but not enforced—yet.

In a rather peculiar turn of events, however, the government voted to disallow spending any money to enforce the ban on 100-watt incandescent bulbs — at the very earliest until October 1st, 2012.

In fact, not exactly banned at all

Although there are plenty of posts and articles about the total demise of the incandescent bulb, this is not actually the case at all. What the new rules demand is that incandescent bulbs manufactured or imported into the U.S.A. must conform to new energy standards. A normal 100-watt incandescent bulb draws 100 watts of power to produce the amount of light it does, but uses most of that energy to emit heat. The new rules require that a bulb that throws off the same amount of light only draw a maximum of 72 watts of power.  In April of last year, Philips Lighting launched a new line of incandescent bulbs that meet the new requirements. These bulbs are not as energy efficient as LED or CFL bulbs, but, according to Philips, the light they give off is the same as the light from traditional incandescents.

 

The EcoVantage bulbs are available at Amazon.com, Home Depot and a variety of online and local stores, if you want to see what kind of light they produce.

 

For more information on the Energy Independence and Security Act of 2007 and how it could impact you:

·        New York Times: Almost Time to Change the Bulb

·        The Advertiser: Out with the old-fashioned light bulb

·        The Washington Post: The incandescent light bulb is dead; long live the incandescent light bulb?

Jan
03

What Happened to the Housing Market in 2011

5 events that really had an impact

Time Magazine and AOL Real Estate each have lists of the most significant news in real estate in 2011:

AOL’s #1: “Foreclosure Crisis”

The “emotional and economic distress.” The “drag on a recovery.” The “tighter lending practices.” The robo-signing scandal. The prospect of a settlement that will only result in more foreclosures.

 

Time’s #1: “Robo-Signing Reverberations”

The record average foreclosure processing time of 2011 (631 days) can be directly linked to the speedy foreclosure processing scandal in 2010 — without proper or complete documentation. Many homes are still stalled somewhere mid-process, but when a settlement with the banks is reached, experts expect to see a distinct increase in foreclosure volume in 2012.

Time’s #2: “The Debt Ceiling and the Budget Deficit”

“One idea that both Republicans and Democrats didn’t totally disagree about was reducing the mortgage interest and other tax deductions. If and when that happens, high-income homeowners with mortgages would pay a lot more in taxes.”

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AOL’s #3: “Bankrupt Policy”

The very definition of too little, too late — the administration’s multiple attempts to support homeowners in distress (HAMP, HARP, EHLP, or 2MP) all fell flat, failing to reach a substantial percentage of their intended beneficiaries and/or failing to provide substantial assistance.

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Time’s #4: “Natural Disasters Cause Insurance Disaster?”

The federal government’s National Flood Insurance Program (NIFP) is still reeling from Katrina, a problem for the housing market that felt the spotlight when Irene struck this year. In a catch-22 of nearly epic proportions, if NFIP goes under, flood insurance goes away, bringing the housing market in flood-prone areas to a dead stop— as you cannot get a mortgage without flood insurance.

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Dec
27

Want to Dress Up Your Kitchen For The New Year?

How a little “magic” can make a big difference

 

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Remodeling your kitchen can run anywhere from $1,200 for new countertops to $50,000 or more for a complete overhaul and the process can take anywhere from a week to six months or longer.

 

To spruce up your countertops, drawer fronts or appliances with a new look without the big investment (of money or time), however, Carter Oosterhouse has a few suggestions.

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Featured in a “10 Minute Kitchen Makeover” segment on the Rachel Ray Show, Oosterhouse touts the ease, affordability and flexibility of adhesive faux finishes. You can get faux stainless steel to apply to your appliances, or even drawers and cabinet doors if you’re going for an industrial look. One sheet, about three feet wide by 26 to 28 inches long, runs about $20.

 

For your countertops, he suggests a faux granite — the sheets are also about three feet by 30 inches, and run about $30 per sheet.

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Another stainless steel finish option is stainless steel paint. Thomas’ Kitchen Art offers Refrigerator and Range/Dishwasher kits to refinish your appliances with a paint that contains flecks of real steel. The process is a bit more involved than Oosterhouse’s peel and stick solution — requiring three coats of paint topped with one to three coats of clear urethane. See Consumer Reports’ video review of the paint here.

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