Buyer’s Market and Remodeling Wave Benefits Everyone

A Buyer’s Market and Remodeling Wave Benefits Everyone


(ARA) - The advantage typically tilts toward those buying homes in today’s housing market. Interest rates are low and housing inventories are up. But the tricky part for everyone is that buyers are often also the sellers and typically depend on selling their existing home to buy a new one. According to the National Association of Home Builders (NAHB), consumers can buy and sell in a soft market and still come out ahead.



“Whatever you’ve heard to the contrary, soft markets are not dead markets. People are selling houses successfully every day -- over 6 million resales this year alone, the third highest annual resale total in American real estate history,” says Kenneth R. Harney, a nationally syndicated real estate columnist. “To begin with, you’ve got to understand that while it may be a difficult time for sellers right now, it’s a great time for buyers. And many consumers happen to be both.”



Despite a current buyer’s market, a move may not be in your future. Certainly, you’re not alone. The remodeling market is booming as well as homeowners increasingly opt to upgrade their homes and remain in their familiar neighborhood. Remodeling spending surpassed $200 billion for the first time in 2005 and is expected to lead the residential construction industry in growth over the next decade, according to NAHB.



Whether you’re buying, selling or staying put, there are many factors to consider to help make sure your new or existing home performs at its best. Pella Windows and Doors offers these considerations when working with a window or door expert in making buying decisions for your new home, renovation project or as you get ready to sell your home:



Increased energy efficiency is key -- Windows and doors should increase the comfort in a home. Energy-efficient quality double or triple-pane windows (wood, fiberglass or vinyl) and doors help keep the home warmer in the winter and cooler during the summer.



A sign to look for in quality windows and doors is ENERGY STAR, symbolizing the most energy-efficient products. Also be sure to read the National Fenestration Rating Council (NFRC) label for more details on product performance. Other key ingredients for energy-efficient windows are low-emissivity (Low-E) coatings, inert gas fill, multiple layers of glass, air infiltration prevention and insist on proper installation.



Breathe easier while cutting utility bills -- In warm weather, opening operating windows reduces dependency on air conditioning to help lower utility bills while filling the home with fresh air. Using windows for ventilation also helps prevent overheating caused by direct sunlight.



Increased home value potential -- Adding quality windows and doors to a new home or replacement or remodeling project can positively affect your home’s value. Windows and doors are seen from both the interior and exterior of the home and positively impact the all-important curb appeal. Plus you may qualify for U.S. tax credits on next year’s tax return. Check with your local utility company, as many offer rebates for replacing old windows and doors with more energy-efficient options.



Proper installation -- Pella offers a step-by-step installation process to help make the installation job easier and to provide years of enjoyment from quality windows and doors. These steps include:



* Inspecting new products and preparing them and the home for installation



* Protecting the work area by placing drop cloths on furniture and flooring



* Removing old windows and exterior doors



* Installing new windows and doors using Pella’s own proven Window and Door Installation Method designed to help seal out air and moisture



* Cleaning up the work area



* Performing a final walk-through and explaining how to operate the windows and doors



* Hauling away the old windows and doors



Read the fine print -- Quality windows and doors will come factory-assembled for consistency with a quality warranty. Familiarize yourself with them and ask about financing options.



Now’s the time to bolster your bottom line -- Take advantage of current market conditions to make your next move a profitable one. By choosing energy-efficient windows and doors you’ll be comfortable whether you buy, sell or add to your existing home.



For more information on home improvement featuring windows and doors, contact a local Pella Window and Door Showroom expert by calling (888) 84-PELLA or logging on to www.pella.com.



Courtesy of ARAcontent

A Handy Guide for Do-It-Yourself Movers

A Handy Guide for Do-It-Yourself Movers


(ARA) - As many as 17 million household moves take place each year in the U.S.



If you are among the do-it-yourselfers, Penske Truck Rental offers step-by-step guidance at www.GoPenske.com. Here are a few tips to get you started:



* Truck Selection. Most movers find the 12- or 16-foot truck perfect for moving a few large items or the contents of a small condo or apartment. For guidance with larger moves or your truck selection, visit www.GoPenske.com.



* Reserve Early. Penske suggests reserving your truck at least two weeks in advance -- a truck is guaranteed with every Penske reservation.



* Pack Smart. Load the heaviest items on the truck first. Avoid injury when lifting, by always bending your knees and lifting with your legs.



* Use Accessories. Boxes, packing tape, bubble wrap, moving blankets, and hand trucks are all essential moving tools that help protect your items during your move, making your experience more enjoyable.



* Mark Your Boxes. Label the outside of your boxes as you pack. It makes it easy to put the boxes in the right room when you unload at your final destination.



* Safety & Security. Trucks are taller, wider, heavier, and require more stopping distance than the vehicle you are used to driving. To ensure a smooth moving day, pick up your truck a day early and practice driving it. Take extra precautions, especially when the truck is loaded. Use caution near low hanging tree branches, building overhangs and when cornering. Park in well-lit areas and padlock the rear door. Penske offers 24/7 emergency roadside assistance and optional protection plans.



Finally, with most family belongings packed tightly away, create a travel bag for moving day to keep important paperwork, credit cards, identification, change of clothes, drinks and snacks close at hand. For a complete list of moving tips, visit www.GoPenske.com.



Courtesy of ARAcontent

How to Handle a Home Remodel

How to Handle a Home Remodel


(ARA) – Whoever coined the phrase “a man’s home is his castle” probably never imagined how close to true that phrase would become in modern home building. “More” seems to be the operative word in new home design these days, from more living space and rooms to increased upgrades, bells and whistles.



Perhaps as a backlash against the “McMansion” trend, many homeowners are opting to remodel the home they have, rather than build something new. Even if you are among those who choose to stay put, chances are you’ll want the same upgrades and extra touches found in many new homes. But trying to keep up with the neighbors could break the bank if you make unwise decisions.



“Budget and benefit are the two most important factors to consider when planning any home remodeling project,” says Maxine Sweet, vice president of public education for Experian. “Homeowners need to set firm goals, have realistic expectations and commit to a budget to make their remodel succeed.”



So if you’re thinking about a home remodeling project, consider these tips first:



Tip One: Know what renovation projects will deliver the most value.



Some of the hottest trends in new home building may not be the best investment for your remodeling dollars. Sure, you can install a second laundry room in your master suite, or create a luggage room where your on-the-go family stores their bags between trips. But when it’s time to resell, those improvements aren’t likely to provide as much return on investment as a kitchen or bath redesign. However, if you plan to stay in your home for many years to come and you travel extensively, then the luggage room might make sense for your family.



If you want to improve resale value, go with the tried and true, such as kitchen and bath upgrades. If you won’t be selling anytime soon, choose upgrades that enhance your enjoyment of your home.



Tip Two: Find the trend that fits your lifestyle.



Walk into virtually any home improvement store and you could lose your head over some of the thrilling upgrades available today. But those glass fronted kitchen cabinets that you loved in the showroom may not be your favorite home improvement when you find they require almost daily cleaning. The whirlpool bath with warm-air vents may be wonderful for grown-up enjoyment, but not the ideal place to bathe your toddler.



“Don’t let dazzling effects distract you from your ultimate objective of enhancing your home in a way that makes sense for you,” says Sweet.



Tip Three: Have your financing in place before the first nail goes in the wall.



“The surest route to disaster is to start work before you know how you’ll pay for it,” says Sweet. Before hiring any contractors or buying materials, establish your budget. You can finance your project a number of ways, and one of the most popular methods is a home equity loan. Because your home is the security for the loan, you will probably be able to get a lower interest rate and even some tax breaks. The amount you already owe on your house and your credit rating will affect how much you can borrow for remodeling.



Before applying for financing, it’s a smart idea to check your credit report. Credit reporting companies like Experian make your report available online (www.experian.com). Obtain a copy and make sure everything is in order, with no payment disputes, accounts you don’t recognize or other questionable items. If you find something wrong, rectify it before you apply for financing.



“With careful planning, you can accomplish a home remodeling project that will both improve your home’s value and enhance your family’s enjoyment of your house for years to come,” says Sweet.



For more information about credit, visit www.experian.com.



Courtesy of ARAcontent

Model Home Tricks Help Maximize Your Home’s Value

Model Home Tricks Help Maximize Your Home’s Value


(ARA) – Perfectly manicured, emerald green lawns flanked by floral beds. Acres of granite counter top and gleaming stainless steel appliances. And everywhere you look are surfaces clean enough to eat off -- that’s the appeal of the model home.



There’s a reason why model homes look the way they do. Builders know that everything they do to make a house look visually appealing amounts to actual dollars, and often thousands of dollars, added to the sale price. The same principal applies to your home.



Whether you’re planning on selling, or just sprucing up your house to make it more enjoyable to live in, mimicking the ideal appearance of a model home can yield impressive results. Here are some tips and trends to help make your house a showplace:



* Start with curb appeal. This is especially important if you’re planning on selling. First impressions are lasting ones and unmown grass or shabby planting beds make the kind of statement you want to avoid. Keep grass well trimmed and planting beds watered. If you don’t have a green thumb, choose easy-to-grow flowers, like petunias, to add pizzazz to your landscaping.



* Cleanliness is essential. Whether you’re selling your home or living in it, keeping it clean is a top priority. Clean homes are better preserved, more healthful places to live. And homebuyers rank dirty houses at the top of their turn-offs list. You probably take care of the kitchen and baths regularly, but don’t forget the need to shampoo the carpet occasionally, especially if it is worn or old. And take the time to do the windows -– you’ll be amazed at the difference it makes to your home’s appearance, both inside and out.



* Cut the clutter. Living in a cluttered environment is harmful on so many levels –- from your home’s sell-appeal to your own self esteem. Decreasing clutter opens up the visual space in your home and can inspire greater decorating creativity.



* Take care of repairs as quickly as possible. Some things simply can’t wait, like a leaking roof. But try not to put off small repairs that may not seem consequential –- like the toilet that needs the handle jiggled every now and then. Small repairs can become big problems if they add up or get worse with time –- and they always do.



* Put your decorating dollars into the rooms and trends that give the biggest payoff in both your enjoyment of your home and appeal to potential buyers. Focus on the kitchen and baths. No penny spent in those rooms is ever wasted, whether you’re simply dressing up the bath with new towels or installing granite counter tops in the kitchen. Granite counter tops are a must in model homes, as are gleaming clean baths.



* Consider adding an interior designer touch, such as a custom wall mural. Increasingly popular among designers, wallpaper murals are popping up in model homes across the country. Designers are using them to enhance kitchens, brighten baths and create bold statements in common areas of the house, according to Murals Your Way, makers of easy-to-install custom wallpaper murals. “To have someone paint a mural costs thousands,” states interior designer, Lisa Fields who installed a wallpaper mural depicting Michelangelo’s Creation of Adam in a hallway ceiling. “I love being able to have the same look while staying within budget.” For more wallpaper mural ideas, visit www.muralsyourway.com.



Mimicking the design techniques and selling features of a model home can help you maximize your enjoyment of your home as well as its resale value.



Courtesy of ARAcontent

New Law Gives Many 2007 Home Buyers First-Ever Federal Tax Deduction for Mortgage Insurance Premiums

New Law Gives Many 2007 Home Buyers First-Ever Federal Tax Deduction for Mortgage Insurance Premiums


(ARA) - Home buyers have something new this spring to factor into their home financing calculations: A new federal tax deduction allows many qualified families to write-off premiums for private and government mortgage insurance on loans that close in 2007.



This is the first time that homeowners who have low down payment loans with mortgage insurance will be able to deduct the cost of their mortgage insurance premiums, and the average annual tax savings for qualified families will be between $300 and $350.



The new deduction, passed by Congress and signed into law by President Bush late last year, is effective for the 2007 tax year.



Under the new law, private mortgage insurance (PrivateMI) premiums are now fully tax deductible for borrowers who buy or refinance a home this year if their adjusted gross income is $100,000 or less. Families with incomes of more than $100,000 and up to $109,000 will be eligible for a reduced deduction.



“Making the cost of mortgage insurance tax deductible helps those who need it most: low- and moderate-income Americans, primarily first-time home buyers, who are financially responsible but simply don’t have the means to amass a 20 percent down payment,” says Steve Smith, chief executive officer of The PMI Group, Inc. and President of Mortgage Insurance Companies of America (MICA).



The tax change to give a deduction for mortgage insurance comes at a time of changing real estate market conditions and regulatory warnings about the risks of exotic loans.



Mortgage insurance plays a crucial role in maintaining the stability and continued health of the mortgage finance system. With rising interest rates and slower appreciation of home prices, many people who used exotic loan structures are being surprised with higher monthly payments.



Compared to other financing options, a mortgage loan with PrivateMI is often more affordable and its fixed, predictable premiums provide consumers with peace of mind -- and now a tax deduction. And PrivateMI is cancelable once the homeowner has built up enough equity in the home.



Private mortgage insurance premium prices vary based on the size of the down payment, type of mortgage and amount of insurance coverage. The cost of PrivateMI for a median-priced home -- the projected national median price in 2007 for a single family home is $224,500 -- ranges from $50 to $100 per month.



“This new tax deduction will make loans with private mortgage insurance even more attractive for home buyers who are on the cusp of homeownership,” says Suzanne Hutchinson, MICA’s executive vice president. “The wide-ranging group of organizations that support this important tax break will certainly be working to extend the deduction beyond 2007.”



Consumer groups have had high praise for the new law.



“Homeownership contributes substantially to social stability,” says Bruce Hahn, president and CEO of the American Homeowners Grassroots Alliance. “Yet homeownership remains just beyond the grasp of millions of Americans. Making the cost of mortgage insurance tax deductible helps put homeownership within reach for many more families.”



Tax day in April 2008 -- when taxes are filed for 2007 -- could bring new benefits to qualified home buyers who will buy or refinance homes this year with tax deductible private mortgage insurance.



“This tax deduction will create important social benefits by offering relief to over-burdened taxpayers,” says John Berthoud, president of the National Taxpayers Union. “Finally, homeowners will have the ability to make all the costs associated with the ongoing financing of their home truly tax deductible.”



Advocates for African American and Hispanic groups also note the benefits of the new tax break.



“A tax deduction for mortgage insurance premiums will go a long way to help homeowners and potential homeowners who simply want to own a piece of the American dream,” says Marc H. Morial, president and chief executive officer of the National Urban League. “I congratulate both the U.S. House and the Senate for doing what’s right to make the goal of affordable homeownership a reality for every American.”



“Currently, many Latinos need loans with private mortgage insurance because they are unable to afford the 20 percent down payment traditionally needed to buy a home,” says Guarione M. Diaz, president and CEO of the Cuban American National Council. “Policies such as this one help these families realize the aspiration of homeownership and fulfill an essential element of the American dream.”



“With a U.S. Hispanic homeownership rate of 48 percent (20 points below the national average of 68 percent), this legislation would enable more hardworking Hispanic families and consumers to become homeowners,” says Manny Mirabal, president and CEO of the National Puerto Rican Coalition. “An estimated 33 percent of the families benefiting from this tax deduction would be minority homeowners.”



Courtesy of ARAcontent

Planning to Build? Make Sure You Hire the Right Architect

Planning to Build? Make Sure You Hire the Right Architect



(ARA) – When you make the decision to build a new home, there are a lot of things to consider. Among them, is the neighborhood right for you? What kind of lot do you want? Will you be close enough to work, school and shopping?



No matter where you end up, perhaps the most important decision you make will be who you choose as your architect. If you haven't worked with one before, you may be wondering whether your project really requires an architect, particularly if it will be your personal residence. According to the American Institute of Architects, the answer is yes.



The agency points out that using an architect is critical for any building project to be successful. The architect is the big picture person, and he or she will handle a number of duties. Among them, helping clients explore what appeals to them aesthetically and what they require functionally; coordinating teams of design, engineering and construction professionals; and sorting through the maze of building codes and zoning requirements to ensure projects are built the way they were intended.



Rebecca Jones of Chevy Chase, Md., knew all that going into her project. However, since she’s an interior architect by profession, she thought she could design her dream home on her own. “Big mistake,” says Jones. “I had photographed a house in Texas that I absolutely loved and thought I could replicate it on my own, but it didn’t take long for me to realize I was in well over my head.”



While the design of the home came naturally to her, translating her ideas into terms contractors, electricians and plumbers would understand did not. “When I realized I wasn’t doing a good job in that department, I decided it was time to hire an architect.

The person she chose for the job was Jack Arnold, the man who had designed that home in Texas she liked so much.



Arnold is known across the U.S. as an expert in European residential design. His success as an architect stems from both an academic and hands-on education that takes him from local construction sites to premier European museums. From his childhood years constructing forts and tree houses to his 30-year career as a noted architect, Arnold says he has always sought to create something that pleases the eye.



“I really liked his attention to detail, quality and sophistication,” says Jones. “That’s why I decided to hire him.” After their initial consultation, Arnold put together a set of plans, and changes went back and forth via email until everyone was completely satisfied.



“It was a great collaboration,” says Jones. “Jack pushed me to do things I never would have done on my own.”



Jones’ home has a Country English design with high peak ceilings, high arched windows, stone accents around the doors and windows and varied roof lines. The interior has a lot of natural light shining through.



“It was designed to be an empty nester’s home, and everyone’s needs have been taken into consideration,” says Jones. “The master is on the first floor and has a separate sitting room with a small office for my husband right above it. The great room is configured right off the kitchen which makes it perfect for entertaining. There’s a separate wing for my mother, who is 81 and will be moving in with us, and the home is compliant with the Americans with Disabilities Act throughout.”



While the home Jones had built was custom, Jack Arnold also offers detailed plans for several luxury homes you may be interested in building. Each plan comes with numerous pages of elevations, schedules and specifications to give clients and their builders comprehensive direction on how to create the home they envision.



There are four portfolios available: Country French Classics, Old World Romantics, Dream Home or Cottages, and they are available for purchase online. Log on to www.jackarnold.com http://www.jackarnold.com to find the plan for your dream home.



Courtesy of ARAcontent

How to Improve Your Home’s Curb Appeal

How to Improve Your Home’s Curb Appeal



(ARA) – Does your home have curb appeal? Better make sure the answer is “YES” before you put it on the market. According to the National Association of Realtors (NAR), it just may make the difference between selling your property quickly, or having it linger on the market for months.



Just a few short years ago, when mortgage rates were low and the economy was booming, homes were selling almost as quickly as they hit the market. NAR statistics show it is now taking an average of four weeks to sell a home.



If it’s taking longer than that in your case, there may be a good reason. Perhaps your asking price is too high, or there’s too much competition in the surrounding neighborhood. Both are problems you can easily deal with.



Ask your realtor to run a report on comparables to see if your price is indeed too high, and in the meantime, drive up to your home and pretend you’re a potential buyer. What is the first thing you notice?



If your attention is focused on cracks in the driveway, paint on the shutters that’s peeling and dead branches hanging from the trees, it won’t take long before you come to the realization that your home isn’t selling because it lacks curb appeal. So what can you do about it? Make a list of the projects you need to complete right away, then run out to the closest home improvement store and buy your supplies.



* The driveway



Often the first step a perspective buyer takes on your property is on the driveway, so make sure it makes the right impression. If your driveway is gray and weathered, or worse, cracked and crumbling, this may scare off buyers. The good news is that repairing and beautifying your driveway can be done quickly and easily, and wow, what a difference it makes.



Start by thoroughly cleaning the surface with a spray on driveway cleaner and letting it dry completely. Once the surface is clean, you can apply your sealer using an applicator that has a squeegee on one side and a brush on the other to spread and smooth the mixture.



There are a lot of asphalt sealers on the market, but do you and your eventual buyer a favor by investing in a product that beautifies and protects. Black Jack Drive-Maxx 700 is a better quality blacktop filler and sealer that contains sand particles to help fill in the small cracks in the surface and it is enhanced with latex which helps with durability. It is a gel based sealer that applies faster, easier and with less mess, what a combination!



It would also be a good idea to have a bottle of Black Jack Blacktop Crack Filler on hand in case cracks should form after the driveway has been resurfaced. You can find both the crack filler and blacktop sealer at Lowe’s and other home improvement stores nationwide. Log on to www.gardner-gibson.com for access to a store locator.



Paint



If the paint on the shutters is peeling away, but the rest of the house looks okay, take the shutters down and repaint them. You may want to repaint the front door to match as well. It would also be a good idea to pressure wash the house and sidewalks, particularly if there are water or dirt marks from the sprinklers.



Landscaping



As far as the landscaping goes, start by removing all the dead branches and leaves from your trees and shrubs, and making sure they have shape to them. Overgrown plants are a big turn off.



You should also be sure the lawn is well maintained. If you don’t have time to cut it every week, and remove the weeds, hire someone to do it for you. And if there’s no color in the yard right now, add some. Pansies, petunias, marigolds and daisies look great whether they’re planted in flower beds or in pots by the front door. Either way, be sure to cover the dirt with mulch, which holds moisture and prevents weed growth.



Other tricks you can try to improve your home’s curb appeal, get a new front door, wash the siding and front windows and replace the weathered mailbox and house numbers. In the grand scheme of things, these small investments will pay huge dividends. They’ll set your home apart from the competition!



Courtesy of ARAcontent