By Katie Adams
This article is part of a series related to being Financially Fit
In a dour housing market, wouldn't it be nice to know that your remodeling project would pay off when you went to sell the property? Remodeling Magazine evaluated the top remodeling projects, how the cost-to-value has changed since the housing market implosion, and which projects are still worth the investment. Using the magazine's "Cost Vs. Value Report for 2008-2009," let's look at some of the best projects you can undertake and recoup the majority of your cost.
Upscale Projects
Siding Replacement (fiber-cement or foam-backed vinyl). With the economic slump, home buyers aren't being dazzled by bells and whistles as much as they are improvements that will ensure lower repair and utility bills. Although replacing current siding with fiber-cement has lost value from 2007, it still nets an astonishing 87% ROI. If you prefer a foam-backed vinyl product replacement instead, you can still look to recoup 80% of your cost.
Window Replacement (vinyl or wood). Windows are not only an aesthetic feature. For most homeowners, they represent one of the easiest ways to lower home heating and cooling bills. By replacing your current windows with more efficient vinyl or wood ones, you can save on your utility bills, attract future home buyers and net a nearly 80% (vinyl) or 77% (wood) return on your investment.
Bathroom Remodel. Depending on the size and amenities of your desired bathroom, you could expect to pay over $50,000 to tear out walls, repair joists and wall studs, change structural elements and make major layout changes, such as switching a toilet and shower. However big the price tag, you can still expect to recoup nearly 71% of the cost (which would be $36,400 if you have a $50K bill) when you go to sell. This project increased its value since 2007, while its sister project – adding a complete bathroom – fell in value.
Major Kitchen Remodel. Kitchens are typically the most frequently used room in a home, so it makes sense that investing money here is going to pay off when it comes time to sell. While a major kitchen renovation is usually the most time-consuming and expensive home improvement job (averaging more than $110,000), it's also one of the most profitable. Regardless of the size of your financial layout, you can expect to get a nearly 71% ROI.
Deck Addition (composite product). With families cutting their entertainment budgets, they're spending more time at home, so it makes sense that adding a deck (composite, not wood) is a good investment. You can plan on recouping 63% of your total job cost to boost your home's value by nearly $24,000 if you paid the average job cost of $37,000.
Mid-Range Projects
While all of the mid-range projects dropped in value versus cost since 2007, there are still numerous projects that will net you a significant ROI. Here are a few of the best bets for your money:
Deck Addition (wood). If your bank balance can't swing the higher price tag that comes with composite decking, you may still be able to afford a wood addition on to your home. While a wood deck would cost you, on average, in the neighborhood of $10,000, the resale value it will add to your home is more than $8,600 – an 81.8% return on your investment.
Siding Replacement (vinyl). Fiber-cement or foam-banked vinyl are often more preferable siding upgrades, but getting vinyl siding replacements instead is still a good choice. You can recoup nearly 81% of your cost which, if the job cost you more than $10,000, means you could add more than $8,200 to your home's value.
Minor Kitchen Remodel. With belt-tightening in style, people are turning to minor kitchen improvement projects instead of major overhauls. It turns out that that choice is not only frugal, but financially wise. While major kitchen remodeling jobs can still, on average, return a nice 70% ROI for homeowners, minor kitchen remodeling jobs net an even higher 79.5% return.
Attic Bedroom. Anytime you can add bedrooms, you're going to add to the overall value – and listed purchase price – to your home. If your attic's dimensions allow you to convert it to a bedroom, you may want to consider investing the money to do so. You'll add some sleeping space and net a nice 74% return when a new buyer puts your home under contract.
Basement Remodel. If you're fortunate enough to live in an area with a water table high enough to permit basements, you should think about squeezing all the value you can out of it. By remodeling and finishing a previously-unfinished basement you can expect to get nearly 73% of your investment returned with a higher list price, come time to sell.
Conclusion
If you have savings or access to reasonably-priced credit, it's worth it to consider home improvement projects that will produce the best return for your time and money. Make sure you work with a reputable, licensed contractor (to avoid costly errors or budget overruns), and before you undertake any project it's a good idea to check and see if it could significantly increase your property tax bill.
While it may still make sense in the long-run to undertake the project and add overall value to your home, you may need to make a few budgetary changes so that you don't get caught off-guard when the tax bill comes.
Friday, February 26, 2010
Wednesday, February 24, 2010
Finding Your Ideal Neighborhood
Buy the Neighborhood
By Elizabeth Brokamp
Provided By Motley Fool Green Light
If you're in the market for a home this year, look beyond its four walls and directly at your neighbors. No, I'm not advocating spying (violating "peeping Tom" laws doesn't create a great first impression), but do thoroughly check out a prospective neighborhood before plunking down hundreds of thousands of your hard-earned dollars.
Learning the hard way
A few years back when my husband and I were house-hunting, we looked at a home in what we christened "the hot dog neighborhood." On Halloween night each year, this particular neighborhood blocks off one of its streets, holds a parade, and then grills hot dogs for the neighborhood kids. That was enchanting -- a real neighborhood party in which everyone seemed to know and like one another, welcomed children, and celebrated holidays with zest. The problem? We weren't nearly so fond of the house -- its exterior was clearly a 1960s experiment gone awry and the interior was just plain odd. We passed on it, despite the warm-fuzzy neighborhood feel.
Many years and a couple more children later, we wish we'd gone for the hot dog house. Why? Because now we live in a neighborhood that just doesn't suit our personalities, our family's needs for socialization, or even our politics, if you get down to it.
We didn't know all of that when we purchased the sturdy five-bedroom with a pleasant layout and a big yard. We just knew it was a "nice" neighborhood in which we could afford a home. Sure, we'd driven around the neighborhood and chatted briefly with the folks next door before we made an offer. But our research went something like this: "So how do you like living here?" Having conducted this sort of research in all of the neighborhoods in which we've lived, I will tell you: We have never talked with people who spoke badly about their own neighborhood. Occasionally, they will add helpful tidbits about specific neighbors ("We've been trying to get the guy in that house to clean up his yard for years!"), but seldom do they say anything nasty about the larger area. It seems that people, like dogs, don't sully the place in which they sleep.
If you want to get the real dirt on your neighborhood, you're going to have to do some digging. So dust off your trench coat and dark glasses, and get ready to go on a sleuthing expedition.
Tips for finding your ideal neighborhood
• Contact the community association for the neighborhood you are considering. Often, it publishes newsletters, holds meetings, or sponsors community activities, all of which hold potentially useful bits of information about your neighborhood.
• Subscribe to the local paper or call and ask for a sample of back issues.
• Locate the community hang-outs. Is there a neighborhood pool or community center? If so, try and visit so you can get a sense of who lives in the area and whether there is a strong community feel.
• Look for sidewalks. For us, living in a part of the neighborhood with no sidewalks means many things -- we don't go for as many walks (and therefore don't meet and greet the neighbors as much as we'd like), our young kids have fewer safe places to ride their bikes, and it seems to prevent other folks from walking our way much, too.
• Visit the neighborhood at different times of the day and at least once on a weekend rather than a weekday. Are most of the folks working out of the home? Is the neighborhood composed of retirees? Are there loads of school-aged children? Are there many young mothers with babies and toddlers?
• Study a map of your neighborhood to see the proximity of parks, libraries, the nearest hospital, and other amenities. Likewise, try driving different routes to the home so you can see the good, the bad, and the ugly in the surrounding area.
• Arrange a visit to the school your children would attend, check out the school's test scores, and find out how many veteran teachers are on staff.
• Talk to the neighbors and ask them very specific questions. For example, you may want to ask about their perceptions of crime, location, noise, traffic, and community feeling. Is the neighborhood changing? If so, how?
• Head down to city hall to check on issues with zoning or find out about any projects in the works. You should be able to find out if there are any major road or construction projects planned for the next few years.
• Pump your real estate agent for information. How long do homes in this area stay on the market? What's their resale potential?
• Check your town or city's website for real estate tax assessment information. By looking at our local real estate tax office website, I can see the value of the assessment, how much of that total is land versus the structure, how the assessor rated the structure's condition, and recent home sales in the area.
• Head to the nearest police station to ask for crime rate information. Be sure to ask about the typical response time for emergencies.
• Check the national registry for sex offenders.
Once you've gathered as much information as you can, review it. Does the neighborhood seem to meet your needs? Did you find any information that's a deal breaker? Can you picture yourself living here happily? Be as picky as you can afford to be; no returns or exchanges are offered on neighborhoods.
Copyrighted, The Motley Fool. All rights reserved.
By Elizabeth Brokamp
Provided By Motley Fool Green Light
If you're in the market for a home this year, look beyond its four walls and directly at your neighbors. No, I'm not advocating spying (violating "peeping Tom" laws doesn't create a great first impression), but do thoroughly check out a prospective neighborhood before plunking down hundreds of thousands of your hard-earned dollars.
Learning the hard way
A few years back when my husband and I were house-hunting, we looked at a home in what we christened "the hot dog neighborhood." On Halloween night each year, this particular neighborhood blocks off one of its streets, holds a parade, and then grills hot dogs for the neighborhood kids. That was enchanting -- a real neighborhood party in which everyone seemed to know and like one another, welcomed children, and celebrated holidays with zest. The problem? We weren't nearly so fond of the house -- its exterior was clearly a 1960s experiment gone awry and the interior was just plain odd. We passed on it, despite the warm-fuzzy neighborhood feel.
Many years and a couple more children later, we wish we'd gone for the hot dog house. Why? Because now we live in a neighborhood that just doesn't suit our personalities, our family's needs for socialization, or even our politics, if you get down to it.
We didn't know all of that when we purchased the sturdy five-bedroom with a pleasant layout and a big yard. We just knew it was a "nice" neighborhood in which we could afford a home. Sure, we'd driven around the neighborhood and chatted briefly with the folks next door before we made an offer. But our research went something like this: "So how do you like living here?" Having conducted this sort of research in all of the neighborhoods in which we've lived, I will tell you: We have never talked with people who spoke badly about their own neighborhood. Occasionally, they will add helpful tidbits about specific neighbors ("We've been trying to get the guy in that house to clean up his yard for years!"), but seldom do they say anything nasty about the larger area. It seems that people, like dogs, don't sully the place in which they sleep.
If you want to get the real dirt on your neighborhood, you're going to have to do some digging. So dust off your trench coat and dark glasses, and get ready to go on a sleuthing expedition.
Tips for finding your ideal neighborhood
• Contact the community association for the neighborhood you are considering. Often, it publishes newsletters, holds meetings, or sponsors community activities, all of which hold potentially useful bits of information about your neighborhood.
• Subscribe to the local paper or call and ask for a sample of back issues.
• Locate the community hang-outs. Is there a neighborhood pool or community center? If so, try and visit so you can get a sense of who lives in the area and whether there is a strong community feel.
• Look for sidewalks. For us, living in a part of the neighborhood with no sidewalks means many things -- we don't go for as many walks (and therefore don't meet and greet the neighbors as much as we'd like), our young kids have fewer safe places to ride their bikes, and it seems to prevent other folks from walking our way much, too.
• Visit the neighborhood at different times of the day and at least once on a weekend rather than a weekday. Are most of the folks working out of the home? Is the neighborhood composed of retirees? Are there loads of school-aged children? Are there many young mothers with babies and toddlers?
• Study a map of your neighborhood to see the proximity of parks, libraries, the nearest hospital, and other amenities. Likewise, try driving different routes to the home so you can see the good, the bad, and the ugly in the surrounding area.
• Arrange a visit to the school your children would attend, check out the school's test scores, and find out how many veteran teachers are on staff.
• Talk to the neighbors and ask them very specific questions. For example, you may want to ask about their perceptions of crime, location, noise, traffic, and community feeling. Is the neighborhood changing? If so, how?
• Head down to city hall to check on issues with zoning or find out about any projects in the works. You should be able to find out if there are any major road or construction projects planned for the next few years.
• Pump your real estate agent for information. How long do homes in this area stay on the market? What's their resale potential?
• Check your town or city's website for real estate tax assessment information. By looking at our local real estate tax office website, I can see the value of the assessment, how much of that total is land versus the structure, how the assessor rated the structure's condition, and recent home sales in the area.
• Head to the nearest police station to ask for crime rate information. Be sure to ask about the typical response time for emergencies.
• Check the national registry for sex offenders.
Once you've gathered as much information as you can, review it. Does the neighborhood seem to meet your needs? Did you find any information that's a deal breaker? Can you picture yourself living here happily? Be as picky as you can afford to be; no returns or exchanges are offered on neighborhoods.
Copyrighted, The Motley Fool. All rights reserved.
Monday, February 22, 2010
Rent or Buy?
By Mary Dalrymple
Provided By The Motley Fool Green Light
Home prices, mortgage rates, and housing bubbles have gotten their fair share of print in the news lately. If you're a renter wondering whether to take the leap into homeownership, it may all seem a little overwhelming.
When considering whether it's better to remain a renter and let your landlord fix the plumbing leaks, your area's real estate market should be one consideration. But it's not the only one, and it may not be the most important one. Here are some things to ask yourself when considering whether to become a homeowner.
Will you remain in the house for more than a few years?
Housing prices have definitely skyrocketed in many regions, but that doesn't mean they'll stay on that path forever. A few areas have seen prices starting to decline. That can be great when you're the buyer, but not necessarily when you're the owner.
You'll want to stay in your home long enough to at least recoup your buying costs. If you know you'll move in fewer than three years, your house may not have appreciated enough to cover those expenses. You may want to plan on staying at least three to five years to give yourself more time to cover your costs.
How does it compare with renting?
When renting, it's easy to calculate whether a new apartment will fit in your budget. Just ask about the monthly rent and the average utilities. Once you start thinking about buying a home, this calculation gets a lot more complicated.
Luckily, there's a handy Motley Fool calculator that will tell you whether you're better off renting. As you'll see from the questions the calculator asks, this equation depends on the expected appreciation of your home, your tax rate, your mortgage interest rate, your homeowners' insurance, and your property taxes, to name a few things.
What else would you do with the money?
If you purchase a home, you may shell out more each month for your housing costs. That doesn't mean it's better to remain a renter. You're likely to get a discount on some of those costs, including mortgage interest and property taxes, through various tax deductions.
Also, your mortgage payments won't climb every year with inflation, the way your rent can. (Unfortunately, the same can't always be said of your property taxes.) When you pay your mortgage each month, you're building equity in your house. When you pay your landlord each month -- and he keeps raising the rent -- you're not gaining anything but the same old apartment, for more money.
On the other hand, homes require some upkeep and maintenance, which can get expensive. Depending on the real estate market in your area, you may find no advantages to buying a house. Maybe you're better off investing your money and improving your financial situation through stock ownership, instead of real estate.
Can you place a down payment?
To get the best mortgage arrangement, you'll want to be able to put down 20% of the purchase price of the home. You can get a multitude of arrangements that let you avoid that down payment, but some can be costly. You'll either have to pay private mortgage insurance to protect the lender in the event that you default, or you'll need a second loan that will probably come at a higher interest rate.
There are many programs around to help people, especially first-time homebuyers, who cannot put down the traditional 20% down payment. You may qualify for one of these arrangements. In the meantime, consider whether you'd rather rent longer and save more money toward a down payment.
How do you feel about homeownership?
Some people cannot wait to paint the white picket fence and plant daisies, while others dread the idea of doing their own maintenance chores. If you know exactly where you stand on that question, there may be no debate about whether you should keep renting or start home-hunting.
Copyrighted, The Motley Fool. All rights reserved.
Provided By The Motley Fool Green Light
Home prices, mortgage rates, and housing bubbles have gotten their fair share of print in the news lately. If you're a renter wondering whether to take the leap into homeownership, it may all seem a little overwhelming.
When considering whether it's better to remain a renter and let your landlord fix the plumbing leaks, your area's real estate market should be one consideration. But it's not the only one, and it may not be the most important one. Here are some things to ask yourself when considering whether to become a homeowner.
Will you remain in the house for more than a few years?
Housing prices have definitely skyrocketed in many regions, but that doesn't mean they'll stay on that path forever. A few areas have seen prices starting to decline. That can be great when you're the buyer, but not necessarily when you're the owner.
You'll want to stay in your home long enough to at least recoup your buying costs. If you know you'll move in fewer than three years, your house may not have appreciated enough to cover those expenses. You may want to plan on staying at least three to five years to give yourself more time to cover your costs.
How does it compare with renting?
When renting, it's easy to calculate whether a new apartment will fit in your budget. Just ask about the monthly rent and the average utilities. Once you start thinking about buying a home, this calculation gets a lot more complicated.
Luckily, there's a handy Motley Fool calculator that will tell you whether you're better off renting. As you'll see from the questions the calculator asks, this equation depends on the expected appreciation of your home, your tax rate, your mortgage interest rate, your homeowners' insurance, and your property taxes, to name a few things.
What else would you do with the money?
If you purchase a home, you may shell out more each month for your housing costs. That doesn't mean it's better to remain a renter. You're likely to get a discount on some of those costs, including mortgage interest and property taxes, through various tax deductions.
Also, your mortgage payments won't climb every year with inflation, the way your rent can. (Unfortunately, the same can't always be said of your property taxes.) When you pay your mortgage each month, you're building equity in your house. When you pay your landlord each month -- and he keeps raising the rent -- you're not gaining anything but the same old apartment, for more money.
On the other hand, homes require some upkeep and maintenance, which can get expensive. Depending on the real estate market in your area, you may find no advantages to buying a house. Maybe you're better off investing your money and improving your financial situation through stock ownership, instead of real estate.
Can you place a down payment?
To get the best mortgage arrangement, you'll want to be able to put down 20% of the purchase price of the home. You can get a multitude of arrangements that let you avoid that down payment, but some can be costly. You'll either have to pay private mortgage insurance to protect the lender in the event that you default, or you'll need a second loan that will probably come at a higher interest rate.
There are many programs around to help people, especially first-time homebuyers, who cannot put down the traditional 20% down payment. You may qualify for one of these arrangements. In the meantime, consider whether you'd rather rent longer and save more money toward a down payment.
How do you feel about homeownership?
Some people cannot wait to paint the white picket fence and plant daisies, while others dread the idea of doing their own maintenance chores. If you know exactly where you stand on that question, there may be no debate about whether you should keep renting or start home-hunting.
Copyrighted, The Motley Fool. All rights reserved.
Friday, February 19, 2010
Being Green in Your Home Can Save You Money!
By: Ed G
Source: Ezine Articles
We are all aware that being green is in the news these days. With the climate talks just recently in Copenhagen green issues have become a global concern. Since most of us are not directly affected by global warming, it is difficult to get people on board to go green. So here is a more practical reason to green up your life - it saves you money! It doesn't take a drastic change in your present lifestyle to make a big difference in your wallet. Small changes in your normal routine can make a big difference in the amount of "green" that stays in your pockets.
Here are some easy ways to save....
Saving water can save you green. Just by turning off the faucet while you brush your teeth, you can save over 200 gallons of water each month. How much would that save you on your water/sewer bill? There are lots of ways to go green in your home and keep more "green" in your wallet! Fix leaky facets and toilets - one drip every second can waste over 3,000 gallons a year.
Install a programmable thermostat - This can save you green year-round on one your largest bills, heating and air conditioning. Make sure your house is insulated properly so you keep the heat in your house. Drafty windows and doors can also waste heat and air conditioning!
Save electricity by unplugging unused electronics. Many products still draw power even when they are not turned on. These items can contribute up to 25% of your electric bill! Save more "green" - turn off the lights when you leave a room. Use cold water when doing the laundry. Buy Energy Star appliances. Install compact fluorescent bulbs. These bulbs use 75% less energy and save you up to $30 over the life of the bulb. More "green" saved!
For more information on "going green" and saving "green" in your home, visit
http://www.squidoo.com/greenhomeproducts
Source: Ezine Articles
We are all aware that being green is in the news these days. With the climate talks just recently in Copenhagen green issues have become a global concern. Since most of us are not directly affected by global warming, it is difficult to get people on board to go green. So here is a more practical reason to green up your life - it saves you money! It doesn't take a drastic change in your present lifestyle to make a big difference in your wallet. Small changes in your normal routine can make a big difference in the amount of "green" that stays in your pockets.
Here are some easy ways to save....
Saving water can save you green. Just by turning off the faucet while you brush your teeth, you can save over 200 gallons of water each month. How much would that save you on your water/sewer bill? There are lots of ways to go green in your home and keep more "green" in your wallet! Fix leaky facets and toilets - one drip every second can waste over 3,000 gallons a year.
Install a programmable thermostat - This can save you green year-round on one your largest bills, heating and air conditioning. Make sure your house is insulated properly so you keep the heat in your house. Drafty windows and doors can also waste heat and air conditioning!
Save electricity by unplugging unused electronics. Many products still draw power even when they are not turned on. These items can contribute up to 25% of your electric bill! Save more "green" - turn off the lights when you leave a room. Use cold water when doing the laundry. Buy Energy Star appliances. Install compact fluorescent bulbs. These bulbs use 75% less energy and save you up to $30 over the life of the bulb. More "green" saved!
For more information on "going green" and saving "green" in your home, visit
http://www.squidoo.com/greenhomeproducts
Wednesday, February 17, 2010
Color 101: Picking Your Palette
Source: www.MyHomeIdeas.com
Color 101: Introduction
Colors can speak volumes to you and about you. There are complex ways to explain what makes one person seek out blue over green or yellow over gold. But living with color does not mean simply painting your walls one shade or another. Our homes are as much havens as habitats these days, and good palette choices can contribute to satisfying personal spaces. Here are our editors' tips for selecting colors.
Color 101: Blue
Blue has classic appeal, and its range makes it perennially popular. It shows up in bedrooms and nurseries (blue is not just for boys anymore), and as a pale tone in living rooms. It can be bright or sedate, traditional or modern. Blue's richness almost guarantees a compelling interior, no matter the scale.
Color 101: Yellow
One of the most versatile colors, yellow creates the illusion of light in rooms with few windows. It also looks great in light-filled rooms, where natural light makes it appear paler. Yellow also pairs readily with colors found beside it in nature, such as tangerine, brown, fuchsia, lime green and persimmon. We see it used with success in kitchens, bathrooms, bedrooms, and dining rooms.
Color 101: Green
When you're looking for a neutral color with visual impact, green is a great choice. It's always present outside and can be used for subtle punch inside, especially in living rooms, family rooms, and garden rooms. Mix greens just as you would in your garden, and then add complementary colors. Cool pastels, such as aqua, pink, and even white, work particularly well.
Color 101: Red
Red can be intense, dramatic, and eternally flattering -- a bold backdrop for strong accessories like silver and porcelain. Red's stimulating effect makes it a great choice in dining rooms. Charcoal grays, dark chocolates, and rich caramels have enough strength to balance vibrant reds, while deeper reds match up with muted gold and bronze tones. Red is also a versatile accent color for any season, and creates appealing warm-weather combinations with bolder shades such as moss green or periwinkle.
Color 101: Purple
It's hard to take purple too seriously in anything other than a bedroom. There, its spiritual impact and intriguing presence strike a balance between pretty and pale. Although purple's regal connotations and potency demand restraint, it is a prime candidate for accent pieces and also works well in kids' rooms.
Color 101: Pink
In varying degrees of intensity, it may show up in living rooms, master bedrooms, and girl's rooms. As an accessory, in rugs, pillows, ceramics, and art, a little pink goes a long way toward softening hard edges and bringing in pretty color. For a chic effect, try pink alongside deep-brown or black surfaces. Or mix it with earth tones and pastels, such as white, beige, camel, or honey-gold, for an understated look.
Color 101: White
It makes other colors stand out, so it's a great accent color. White is common in modernist spaces and serene bedrooms. It's also a perfect backdrop for antiques and collections. White paneled walls and open beams on the ceiling draw the eye up and focus attention on hanging artwork. And white on white is especially gorgeous in a breakfast room, where the morning light is reflected from almost every surface.
Color 101: Brown
Use it where you want to create a cocoon, like a bedroom, small living room, library, or office. Again, look to nature for inspiration with your interior schemes. Brown meshes easily with pumpkin, terra-cotta, and affron tones, and may also be paired with deep red, green, or turquoise hues.
Color 101: Introduction
Colors can speak volumes to you and about you. There are complex ways to explain what makes one person seek out blue over green or yellow over gold. But living with color does not mean simply painting your walls one shade or another. Our homes are as much havens as habitats these days, and good palette choices can contribute to satisfying personal spaces. Here are our editors' tips for selecting colors.
Color 101: Blue
Blue has classic appeal, and its range makes it perennially popular. It shows up in bedrooms and nurseries (blue is not just for boys anymore), and as a pale tone in living rooms. It can be bright or sedate, traditional or modern. Blue's richness almost guarantees a compelling interior, no matter the scale.
Color 101: Yellow
One of the most versatile colors, yellow creates the illusion of light in rooms with few windows. It also looks great in light-filled rooms, where natural light makes it appear paler. Yellow also pairs readily with colors found beside it in nature, such as tangerine, brown, fuchsia, lime green and persimmon. We see it used with success in kitchens, bathrooms, bedrooms, and dining rooms.
Color 101: Green
When you're looking for a neutral color with visual impact, green is a great choice. It's always present outside and can be used for subtle punch inside, especially in living rooms, family rooms, and garden rooms. Mix greens just as you would in your garden, and then add complementary colors. Cool pastels, such as aqua, pink, and even white, work particularly well.
Color 101: Red
Red can be intense, dramatic, and eternally flattering -- a bold backdrop for strong accessories like silver and porcelain. Red's stimulating effect makes it a great choice in dining rooms. Charcoal grays, dark chocolates, and rich caramels have enough strength to balance vibrant reds, while deeper reds match up with muted gold and bronze tones. Red is also a versatile accent color for any season, and creates appealing warm-weather combinations with bolder shades such as moss green or periwinkle.
Color 101: Purple
It's hard to take purple too seriously in anything other than a bedroom. There, its spiritual impact and intriguing presence strike a balance between pretty and pale. Although purple's regal connotations and potency demand restraint, it is a prime candidate for accent pieces and also works well in kids' rooms.
Color 101: Pink
In varying degrees of intensity, it may show up in living rooms, master bedrooms, and girl's rooms. As an accessory, in rugs, pillows, ceramics, and art, a little pink goes a long way toward softening hard edges and bringing in pretty color. For a chic effect, try pink alongside deep-brown or black surfaces. Or mix it with earth tones and pastels, such as white, beige, camel, or honey-gold, for an understated look.
Color 101: White
It makes other colors stand out, so it's a great accent color. White is common in modernist spaces and serene bedrooms. It's also a perfect backdrop for antiques and collections. White paneled walls and open beams on the ceiling draw the eye up and focus attention on hanging artwork. And white on white is especially gorgeous in a breakfast room, where the morning light is reflected from almost every surface.
Color 101: Brown
Use it where you want to create a cocoon, like a bedroom, small living room, library, or office. Again, look to nature for inspiration with your interior schemes. Brown meshes easily with pumpkin, terra-cotta, and affron tones, and may also be paired with deep red, green, or turquoise hues.
Monday, February 15, 2010
2010 TEXAS CONSTRUCTION OUTLOOK UPBEAT
NEW YORK (McGraw-Hill) – The value of Texas construction starts will advance 16 percent to $52.5 billion this year, according to the 2010 Texas Construction Outlook from McGraw-Hill Construction.
Growth is expected for each of Texas' major metropolitan areas: Austin is expected to climb 30 percent, Houston 17 percent, Dallas 16 percent, El Paso 8 percent, and San Antonio 6 percent.
Other highlights from the report:
Growth is expected for each of Texas' major metropolitan areas: Austin is expected to climb 30 percent, Houston 17 percent, Dallas 16 percent, El Paso 8 percent, and San Antonio 6 percent.
Other highlights from the report:
- Housing starts in Texas are expected to advance 31 percent to $21.8 billion in 2010, with single-family housing growing 31 percent and multifamily housing gaining 34 percent.
- Nonresidential construction starts will slip 1 percent to $17.6 billion, suffering from declines in commercial and industrial starts.
- Federal stimulus funding will assist public works and utilities construction as starts rebound 21 percent to $13.1 billion in 2010.
Friday, February 12, 2010
MAPS Gives Back
When production and profits ABSOLUTELY MATTER.
My Dear KW Family,
In July of 2009, we launched our first official BOLD program in 11 locations.
Since that day, more than $30,000 has been raised and donated to KW Cares by MAPS BOLD participants and MAPS Coaching.
This month, we begin the second round of BOLD across the U.S. and Canada, and we know that once again we will witness the tremendous generosity that will aide our KW family members when they need it the most.
When you add this to the countless thousands of dollars that have been raised through MAPS programs throughout our annual events – Mega Camp, Masterminds, Coaches’ Skills Camps and more – the impact that you have made is truly incredible.
We are constantly reminded that to whom much is given; much is expected, and we continue to be grateful and humbled by your passion for your fellow KW family and your capacity to give.
We ask that you keep KW Cares in your mind as MAPS does every time you attend one of our events or being in our coaching programs.
On behalf of both the MAPS team and KW Cares, thank you from the bottom of our hearts. May we all become BOLD so that we may give boldly.
Yours in gratitude,
Dianna Kokoszka, President of MAPS Coaching
Wednesday, February 10, 2010
15 Ways to Create a Private Oasis
Source: http://www.myhomeideas.com/
One antidote is to create a private space where you can go to meditate, read, knit, write, pursue a craft, play a musical instrument, or simply unwind. Your "corner of calm" might be an entire room, such as an unused bedroom, or a sectioned-off corner of a larger room. The idea is to put psychological distance between your retreat and the rest of the house, even if the physical distance is not great.
Select the Space
Choose an area where others won't be walking through. Ideally, it will have plenty of natural light and a window with a view.
Find an Object
Define your personal area with an object that means something to you -- a loom, a writing desk, an easel, a workbench, a good reading chair. Or find a beautiful rug, and let that be the foundation of a relaxation space.
Create Coziness
Make your space cozy. If space is at a premium, choose diminutive furnishings -- a small writing desk, a basic extension table, an armless side chair. Hang fabric to lower the apparent height of the ceiling. You can also hang drapes at the window -- thick velvet if you want a deep, dark hideaway; gossamer muslin if you want filtered, soft light.
The Right Accents
Avoid clutter, which can be distracting, by editing your treasures to just a few carefully chosen things. You can always change them out with the seasons.
Silence Is Golden
Cushion your space with accessories that will absorb sound: an upholstered chair, a plush carpet, and pillows.
Establish Set Privacy
You can set the boundaries of your space with a movable screen -- something solid, like bamboo, or a shoji screen with rice-paper panels that lets light filter through.
Smart Layout
For storage, position tall bookcases to partition off one end of a room, or arrange them in an L shape to define a corner area. Angle the shelves toward you if you want storage or display space for books, plants, yarn and fabric, art supplies, or the tools of your craft. Turn them out if you want solid walls within, which you can paint or pad with soft fabric.
Fresh Air
Include plants that will freshen the air and brighten your mood, or use them to screen your area.
Set a Mood
Consider the ambient sound track. Enliven your area with the sound of a tabletop water fountain or with music from a small audio system.
Mixing It Up
Switch your things around every now and then. Choose a shelf, the top of a chest, or even a simple tray to display a new painting, craft objects, or a bouquet of flowers.
Color Choices
If the point of your space is relaxation, opt for neutral tones, clean lines, and one or two focal points. If you're looking to be energized, select vibrant colors, massed patterns, and layered details.
Lighting Is Key
Light your space dramatically. Spotlight a painting, or wash a wall with colored light. If your pursuit requires plenty of light, such as sewing or woodworking, aim a spotlight just where you need it.
Texturize
No Rules
Corners of Calm
As the world grows more hectic, we've come to think of our homes as sanctuaries. Yet many of us have opened up the interiors of our houses, combining kitchen, dining, and living room in a "great room." An open house means more freedom and togetherness, but it may also mean more noise and commotion.
One antidote is to create a private space where you can go to meditate, read, knit, write, pursue a craft, play a musical instrument, or simply unwind. Your "corner of calm" might be an entire room, such as an unused bedroom, or a sectioned-off corner of a larger room. The idea is to put psychological distance between your retreat and the rest of the house, even if the physical distance is not great.
Select the Space
Choose an area where others won't be walking through. Ideally, it will have plenty of natural light and a window with a view.
Find an Object
Define your personal area with an object that means something to you -- a loom, a writing desk, an easel, a workbench, a good reading chair. Or find a beautiful rug, and let that be the foundation of a relaxation space.
Create Coziness
Make your space cozy. If space is at a premium, choose diminutive furnishings -- a small writing desk, a basic extension table, an armless side chair. Hang fabric to lower the apparent height of the ceiling. You can also hang drapes at the window -- thick velvet if you want a deep, dark hideaway; gossamer muslin if you want filtered, soft light.
The Right Accents
Avoid clutter, which can be distracting, by editing your treasures to just a few carefully chosen things. You can always change them out with the seasons.
Silence Is Golden
Cushion your space with accessories that will absorb sound: an upholstered chair, a plush carpet, and pillows.
Establish Set Privacy
You can set the boundaries of your space with a movable screen -- something solid, like bamboo, or a shoji screen with rice-paper panels that lets light filter through.
Smart Layout
For storage, position tall bookcases to partition off one end of a room, or arrange them in an L shape to define a corner area. Angle the shelves toward you if you want storage or display space for books, plants, yarn and fabric, art supplies, or the tools of your craft. Turn them out if you want solid walls within, which you can paint or pad with soft fabric.
Fresh Air
Include plants that will freshen the air and brighten your mood, or use them to screen your area.
Set a Mood
Consider the ambient sound track. Enliven your area with the sound of a tabletop water fountain or with music from a small audio system.
Mixing It Up
Switch your things around every now and then. Choose a shelf, the top of a chest, or even a simple tray to display a new painting, craft objects, or a bouquet of flowers.
Color Choices
If the point of your space is relaxation, opt for neutral tones, clean lines, and one or two focal points. If you're looking to be energized, select vibrant colors, massed patterns, and layered details.
Lighting Is Key
Light your space dramatically. Spotlight a painting, or wash a wall with colored light. If your pursuit requires plenty of light, such as sewing or woodworking, aim a spotlight just where you need it.
Texturize
Select items that have contrasting textures because in a small space, everything is within touching distance. Choose natural materials like wood and stone, and use fabrics made with natural fibers. For a counterpoint, mix rough fibers, such as sea grass, with colorful silks.
Be Inspired
Display inspiring quotes, photos, your own work in progress -- anything that will spark creativity or help you relax and unwind.
No Rules
Finally, remember that your decorative choices in this space don't have to work with any other decor in the house. The point is to satisfy yourself.
Monday, February 8, 2010
What To Do If Your Mortgage Is Rejected
By Marilyn Kennedy Melia
Source: http://www.bankrate.com/
Don't be surprised if your friendly lender, the one who invites you to sit down and apply for a mortgage, then ushers you politely out the door empty-handed after you've chatted a bit.
The sudden chill isn't personal. The Mortgage Bankers Association, or MBA, in Washington, D.C., estimates that about half of all mortgage applicants are now being turned down.
"Our latest survey covered the first half of 2008," says MBA spokeswoman Carolyn Kemp. Then, the acceptance rate for purchase applications was 55 percent, and 65 percent for refinance requests. Since then, further tightening of credit standards means at least half of mortgage-seeking consumers can't squeeze through to acceptance, Kemp says.
Instead of yielding to shame, anger or any of the usual emotions associated with rejection, today's consumers who are intent on buying or refinancing should adopt a pragmatic stance since clear-eyed determination may eventually land them a loan.
Here's how:
Get a read on the reason...
If you've submitted a formal application, federal law dictates that you're entitled to a formal rejection.
Expect an "adverse action" notice, spelling out the reasons for turning you down, which these days is likely to state that the loan amount you're seeking is too large compared to the current appraised value of your home, says Joe Thiesen, president of the Wisconsin Mortgage Professionals Association and branch manager of Fairway Independent Mortgage Corp. in Madison, Wis.
If it's not your home's value that's the issue, it may be your personal credentials, such as your credit worthiness, work history, or debt load.
When credit is the issue, an adverse-action notice is required, naming the credit reporting agency that provided the data on which the lender based its decision, according to Federal Trade Commission rules. You're also entitled to a free credit report; see the FTC Web site for more information.
Given the odds of acceptance, a lender may not require you to pay a few hundred dollars to submit a formal application, which includes the cost of a professional appraisal on the property. Instead, he may pull a credit score, and tell you what you're likely eligible for, says Marc Savitt, president of the National Association of Mortgage Brokers.
Find a fix:
Qualifying for a mortgage isn't a black-and-white issue. Rather, different loans at varying rates may be available, depending on how risky a lender thinks a particular mortgage will be. If you don't qualify at 5.5 percent, for instance, you may be able to get the nod for a loan at 6 percent or 6.5 percent.
However, many borrowers, especially those who are refinancing, need a certain rate to reach the monthly payment they want. Not only are rates higher for risky loans, but there are now upfront "point" charges dictated by Fannie Mae and Freddie Mac, the two big mortgage guarantors currently under government control, Savitt says.
To get a good rate, some borrowers may be able to make changes -- like lowering the amount of the loan they seek.
When a borrower isn't far from the qualifying mark, he may be able to reapply and be approved relatively quickly. For instance, if you're within reach of a 740 credit score, which is usually required for the best rate, you might pay down a balance on a credit card and hit the target, Thiesen says.
Seek out other opinions:
Not every lending firm adheres strictly to the same playbook, and one lender may approve what another rejects, says Savitt, who recently had a borrower with good credit turned down for a low-down-payment, government-insured loan, but found another firm giving the green light.
A local "community bank," meaning a smaller, hometown institution, may be more flexible, contends Diane Scriveri, chief lending officer at Bogota Savings Bank in Teaneck, N.J., and vice-chair of the affordable housing committee of the New Jersey League of Community Banks.
"Because we're local, we may know home values better. We still use independent appraisals of course, but we may look at comparable (home values) differently because we know what's really happening in different neighborhoods," she says.
Credit unions, which only offer loans to consumers who qualify for credit union membership, may also be more forgiving, says Tony Emerson, president of the Credit Union League of Connecticut.
"It would be foolhardy to suggest that in every case, you can go to a credit union and get a loan," Emerson says.
Still, he says, some credit unions may judge loan eligibility based upon the unique relationship they have with their members. For instance, many credit unions offer membership to employees of specific companies and would know more about a member's job stability, he says.
Give it another try
The Mortgage Bankers Association is predicting that 30-year fixed rates will hover near the 5 percent range through 2009. So if predictions hold and interest rates stay relatively low, you should have time to try again if the factors behind your rejection improve.
Fortunately, a rejection shouldn't bring down your credit score, says Craig Watts, a spokesman for credit scoring firm Fair Isaacs.
Making a formal application and then reapplying more than a monthly later could lower your score, but only by about five points. Most scoring systems allow consumers to make multiple mortgage applications within a 30-day period without any negative impact on their credit score.
Source: http://www.bankrate.com/
Don't be surprised if your friendly lender, the one who invites you to sit down and apply for a mortgage, then ushers you politely out the door empty-handed after you've chatted a bit.
The sudden chill isn't personal. The Mortgage Bankers Association, or MBA, in Washington, D.C., estimates that about half of all mortgage applicants are now being turned down.
"Our latest survey covered the first half of 2008," says MBA spokeswoman Carolyn Kemp. Then, the acceptance rate for purchase applications was 55 percent, and 65 percent for refinance requests. Since then, further tightening of credit standards means at least half of mortgage-seeking consumers can't squeeze through to acceptance, Kemp says.
Instead of yielding to shame, anger or any of the usual emotions associated with rejection, today's consumers who are intent on buying or refinancing should adopt a pragmatic stance since clear-eyed determination may eventually land them a loan.
Here's how:
Get a read on the reason...
If you've submitted a formal application, federal law dictates that you're entitled to a formal rejection.
Expect an "adverse action" notice, spelling out the reasons for turning you down, which these days is likely to state that the loan amount you're seeking is too large compared to the current appraised value of your home, says Joe Thiesen, president of the Wisconsin Mortgage Professionals Association and branch manager of Fairway Independent Mortgage Corp. in Madison, Wis.
If it's not your home's value that's the issue, it may be your personal credentials, such as your credit worthiness, work history, or debt load.
When credit is the issue, an adverse-action notice is required, naming the credit reporting agency that provided the data on which the lender based its decision, according to Federal Trade Commission rules. You're also entitled to a free credit report; see the FTC Web site for more information.
Given the odds of acceptance, a lender may not require you to pay a few hundred dollars to submit a formal application, which includes the cost of a professional appraisal on the property. Instead, he may pull a credit score, and tell you what you're likely eligible for, says Marc Savitt, president of the National Association of Mortgage Brokers.
Find a fix:
Qualifying for a mortgage isn't a black-and-white issue. Rather, different loans at varying rates may be available, depending on how risky a lender thinks a particular mortgage will be. If you don't qualify at 5.5 percent, for instance, you may be able to get the nod for a loan at 6 percent or 6.5 percent.
However, many borrowers, especially those who are refinancing, need a certain rate to reach the monthly payment they want. Not only are rates higher for risky loans, but there are now upfront "point" charges dictated by Fannie Mae and Freddie Mac, the two big mortgage guarantors currently under government control, Savitt says.
To get a good rate, some borrowers may be able to make changes -- like lowering the amount of the loan they seek.
When a borrower isn't far from the qualifying mark, he may be able to reapply and be approved relatively quickly. For instance, if you're within reach of a 740 credit score, which is usually required for the best rate, you might pay down a balance on a credit card and hit the target, Thiesen says.
Seek out other opinions:
Not every lending firm adheres strictly to the same playbook, and one lender may approve what another rejects, says Savitt, who recently had a borrower with good credit turned down for a low-down-payment, government-insured loan, but found another firm giving the green light.
A local "community bank," meaning a smaller, hometown institution, may be more flexible, contends Diane Scriveri, chief lending officer at Bogota Savings Bank in Teaneck, N.J., and vice-chair of the affordable housing committee of the New Jersey League of Community Banks.
"Because we're local, we may know home values better. We still use independent appraisals of course, but we may look at comparable (home values) differently because we know what's really happening in different neighborhoods," she says.
Credit unions, which only offer loans to consumers who qualify for credit union membership, may also be more forgiving, says Tony Emerson, president of the Credit Union League of Connecticut.
"It would be foolhardy to suggest that in every case, you can go to a credit union and get a loan," Emerson says.
Still, he says, some credit unions may judge loan eligibility based upon the unique relationship they have with their members. For instance, many credit unions offer membership to employees of specific companies and would know more about a member's job stability, he says.
Give it another try
The Mortgage Bankers Association is predicting that 30-year fixed rates will hover near the 5 percent range through 2009. So if predictions hold and interest rates stay relatively low, you should have time to try again if the factors behind your rejection improve.
Fortunately, a rejection shouldn't bring down your credit score, says Craig Watts, a spokesman for credit scoring firm Fair Isaacs.
Making a formal application and then reapplying more than a monthly later could lower your score, but only by about five points. Most scoring systems allow consumers to make multiple mortgage applications within a 30-day period without any negative impact on their credit score.
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