Archive for the ‘General’ Category

 8 Stylish Budget-Friendly Ideas

Factors that dictate what floor plan will work best for a home buyer include how old their children are, how they entertain, and whether they have pets, says Jeff Benach, a principal with Lexington Homes in the Chicago area.

Here are some issues Benach suggests considering when buying a home:

• Mudrooms. A spacious mud-room can make managing a young family’s comings and going much easier. They are also good for pet owners.

• Over-sized kitchen/family-room combinations. These rooms work for some people, but they aren’t good for party givers because large spaces are noisy and don’t lend themselves to intense cooking and food staging.

• Fireplaces and windows. Filling more than one wall with windows and occupying another with a fireplace makes it difficult to position furniture.

• Consider that things change. Designing areas so they can be retooled to meet new and different needs down the road is a smart approach.

Source: Chicago Tribune, Allison E. Beatty (01/02/09)

The pace of teardowns has slowed and preservationists are applauding the trend.

About 75,000 homes a year were torn down across the country at the peak of the market. The National Trust has expanded its list of endangered neighborhoods to include 500 neighborhoods in 40 states. The demolitions have triggered bitter battles between preservationists and suburbanites seeking new homes in mature, urban neighborhoods.

But with new housing starts at a 26-year low, teardowns are experiencing a lull. For instance, in Westport, Conn., teardown permits were down 33 percent in 2008 compared to the previous year.

“The idea that you’re going to make a lot of money tearing down an old house to build a new one, that’s gone,” says Morris Davis, a real estate economist at the University of Wisconsin in Madison who has advised the Federal Reserve on the teardown trend.

“We’re advising communities to take advantage of this slowdown and use it as a cooling-off period,” says Adrian Fine, a regional director for the National Trust for Historic Preservation in Washington. “It gives them a little more time to have a less heated and less controversial discussion to protect a specific neighborhood and balance that with the need for growth and development.”

Source: The Christian Science Monitor, Patrik Jonsson (01/06/2009)

The holidays should be merry and bright, but the U.S. Consumer Product Safety Commission (CPSC) warns consumers that the holidays also bring the dangers associated with the improper use of decorative lighting. By avoiding such hazards as dried out Christmas trees, unsafe lights and unattended burning candles, thousands of holiday-related injuries can be prevented. By all means enjoy yourself this holiday season, but make following the fire/electrical safety tips outlined below a priority in your merrymaking so as to avoid any mishaps.

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It isn’t just mortgage costs that are going up. Must-haves like insurance and utilities have skyrocketed in the last decade, too, according to a report by the Center for Housing Policy, an advocacy organization

While incomes rose only 36 percent, utilities increased 43 percent, property taxes rose 66 percent, and homeowners insurance went up 83 percent, the report calculated.

On average, housing expenses – including rent or mortgage payments and the cost of utilities, property taxes, insurance and maintenance – went up by $5,314, or 65 percent, during the 10 years examined in the study.

Source: MarketWatch, Amy Hoak (10/08/2008)

Gen Y, which will be 30 percent of homeowners by 2015, are forcing home builders to look differently at what they design, build, and sell.

The genreation born between 1976 and 1982 wants high-tech convenience and communication, walkability, green building standards, and diversity. They’ll sacrifice space, and some will even pay more, to incorporate those qualities into their lives, real estate experts told an audience at a recent forum on developing real estate for Gen Y, sponsored by the Urban Land Institute.

“In-town areas and inner suburbs will really remain on an upward trajectory” when the housing market turns around, said Sarah Kirsch, senior principal at research firm Robert Charles Lesser, who conducted a study on Gen Y attitudes about real estate.

Gen Y’s favorite neighborhood amenity is a library, followed by a restaurant or cafe, a main street village, a recycling center, and a fitness center, the Robert Charles Lesser study concluded.

Source: The Atlanta Journal-Constitution, Kevin Duffy (10/08/2008)

Staying warm doesn’t have to cost a fortune. Here are some ideas from the U.S. Department of Energy for conserving heat and saving money.

By Kelly Quigley  | October 2008

When the leaves start falling, you know that the heating bills are about to start rising. But keeping your home warm and cozy on chilly autumn nights doesn’t have to break the bank.

The U.S. Department of Energy offers these simple tips and relatively inexpensive home improvements that will help ensure cold gusts stay out and your furnace doesn’t have to work harder than it should.

The goal: Conserve energy and keep more of your hard-earned dollars in your pocket.

Share these ideas with customers and use them for your own house. After all, who doesn’t need to save a little money these days?

1. Plug air leaks with caulking, sealing, or weather stripping. Save 10 percent ($190 per year) or more on energy bills. Focus on windows, doors, outlets or switch plates on exterior walls.

2. Properly maintain the heating system. Heating accounts for half the average family’s energy bill (approximately $950 per year). Make sure the furnace or heat pump receives professional maintenance each year. The small cost (about $75-100 for most service calls) will pay back in better performance all year long.

3. Install a programmable thermostat. Programming the thermostat from 72ºF to 65ºF for eight hours a day while no one is home, or everyone is tucked in bed, will cut the heating bill up to 10 percent ($90 per year), paying for a basic unit in less than a year.

4. Seal and insulate heating ducts. A system can lose up to 60 percent of its warmed air before it reaches the register (wasting $570 in warmed air per year) if ducts are not properly insulated in unheated areas such as attics and crawlspaces.

5. Insulate, insulate, insulate. Adequate insulation in the attic, ceilings, exterior and basement walls, floors, and crawlspaces can save up to 30 percent on home energy bills ($630 per year).  Focus on the attic. (Heat rises.) Most homes should have between R-30 and R-49 insulation in the attic. Learn more at www.eere.energy.gov/consumer.  

6. Close fireplace dampers when not in use.  When in use, reduce heat loss by opening dampers in the bottom of the firebox (if provided) or open the nearest window about an inch, close doors to the room, and lower thermostat setting to 50-55ºF.

7. Let the sun shine in. Open curtains on south facing windows during the day to allow sunlight to naturally heat the home, and close them at night to reduce the chill from cold windows.

8. Stay out of hot water. Water heating accounts for 15 percent of household energy use. Reduce water heating costs by lowering the water heater’s thermostat setting. Each 10ºF reduction can save between 3-5 percent in energy costs. Also insulate the hot water heater and hot water pipes.

9. Install storm windows over single-pane windows or replace them with Energy Star qualified windows. Storm windows reduce heat loss by 25 to 50 percent, and storm windows with low-e coating that reflect heat back into the room during the winter months save even more energy.  Look for the Energy Star label to maximize savings. Energy Star qualified windows reduce heating and cooling bills by an average of $345, but could be higher in cold and hot climates, compared with uncoated, single-pane windows. Can’t afford new windows just now? Tape clear plastic sheeting to the inside of window frames if drafts, water condensation, or frost are present.

10. Net big savings with a little label. When replacing appliances, light bulbs, electronics, or heating and cooling systems, cut energy bills by up to 30 percent ($600 per year) with Energy Star labeled products. Use compact fluorescent light bulbs (CFLs) in place of comparable incandescent bulbs. Find retailers at www.energystar.gov.

These and other improvements that impact the energy efficiency of a home can save home owners money in the short term and serve as a selling point to potential buyers later. Be sure to save receipts, documentation, and manufacturer’s information.

Not sure where to begin? Try the Department of Energy’s online energy audit tool at www.hes.lbl.gov. In the long run, a whole-house energy audit is a fool proof way to make a plan to address wasted energy and make a home operate efficiently for years to come. Visit www.natresnet.org to find a qualified auditor in your neck of the woods.

 Kelly Quigley is online editor of REALTOR® magazine.

Two houses built for the ABC television show “Extreme Makeover: Home Edition” are up for sale after the owners received them in heart-warming episodes.

Eric Hebert of Sandpoint, Idaho, says maintaining the 3,600-square-foot home he received is too expensive and time-consuming.

The house and its one-acre property are listed for sale for $529,000. Hebert also owns other two acres adjacent to the home and has listed that property for $160,000.

Meanwhile, in Pennsauken, N. J., a home built for Victor Marrero and his struggling family is for sale for $499,000.

Marrero says the combination of federal and state income taxes, plus property taxes, will cost him more than $60,000 and he can’t pay it. “Extreme Makeover” officials maintain that the company has consulted with tax experts and found a way around most of the tax bills.

Source: Associated Press (05/21/2008)