The home improvement articles from Better Homes and Gardens' website are always informative. I love this one on the use of tiles, and surprising materials being used in tiles now.
Yesterday, I saw a backsplash made of clear, recycled glass. It was a small kitchen with good morning light, and the glass reflected the light and brightened the kitchen quite nicely. I always support using recycled materials in a project.
Click here for more!
Creative Uses for Tile on Walls
Thursday, February 25, 2010
Tuesday, February 23, 2010
Monday, February 22, 2010
Extended Home Buyer Tax Credit
For details of the extended tax credit for first-time and move-up home buyers, which runs until April 30, 2010, click here: Extended Home Buyer Tax Credit: REALTOR® Magazine
Or just contact me!
Homes must be under contract by April 30 and close by July 1 to qualify.
Or just contact me!
Homes must be under contract by April 30 and close by July 1 to qualify.
Wednesday, February 17, 2010
Report States The Obvious--Foreclosures Are Bad for Neighborhoods
The Journal of Real Estate Research conducted a study of the impact of foreclosures on neighborhoods. Surprising to no one, the results show that foreclosures definitely hurt neighborhoods and home values. Although the study states the obvious, it is important to note the data and analysis prove the impact that the surge in foreclosures has had/could have on our housing industry and the economy.
Here are excerpts from the study findings:
Housing foreclosures likely have little neighborhood impact if there are few foreclosures in a neighborhood and the foreclosed housing can resell quickly. However, when there are many foreclosures along with a sluggish housing market, foreclosures can lead to neighborhood destabilization, which should cause house prices to further fall.
As an added bonus, foreclosed properties tend to produce negative spillover effects including vacancies, reduced maintenance of the foreclosure property, and increased neighborhood crime.
Foreclosures cause lower sale prices, which increase the probability of more loan defaults.
As foreclosed housing builds up in a neighborhood, home sellers may delay the sale of their house in order to avoid a loss.
The foreclosures impact on neighboring sales prices. For example, assume a family purchased a home for $200,000 six months ago. Since the purchase, a foreclosure took place within 200 yards of the family's new home. Data shows a decline of 1.1% or about $2,200 in that family's home.
Read the entire study.
Source: Rogers, W., & Winter, W.. (2009). The Impact of Foreclosures on Neighboring Housing Sales. The Journal of Real Estate Research, 31(4), 455-479. Retrieved February 17, 2010, from ABI/INFORM Research. (Document ID: 1940056661).
Here are excerpts from the study findings:
Housing foreclosures likely have little neighborhood impact if there are few foreclosures in a neighborhood and the foreclosed housing can resell quickly. However, when there are many foreclosures along with a sluggish housing market, foreclosures can lead to neighborhood destabilization, which should cause house prices to further fall.
As an added bonus, foreclosed properties tend to produce negative spillover effects including vacancies, reduced maintenance of the foreclosure property, and increased neighborhood crime.
Foreclosures cause lower sale prices, which increase the probability of more loan defaults.
As foreclosed housing builds up in a neighborhood, home sellers may delay the sale of their house in order to avoid a loss.
The foreclosures impact on neighboring sales prices. For example, assume a family purchased a home for $200,000 six months ago. Since the purchase, a foreclosure took place within 200 yards of the family's new home. Data shows a decline of 1.1% or about $2,200 in that family's home.
Read the entire study.
Source: Rogers, W., & Winter, W.. (2009). The Impact of Foreclosures on Neighboring Housing Sales. The Journal of Real Estate Research, 31(4), 455-479. Retrieved February 17, 2010, from ABI/INFORM Research. (Document ID: 1940056661).
Tuesday, February 9, 2010
The 10 Must-Have Home Features
What features will sell a home quickly for top dollar in this housing market?
AVID Ratings Co. released the results of their annual home-buyer preference survey and revealed 10 "must have" features in a new home.
1. Large kitchen with an island
2. Energy efficient appliances, insulation, and windows
3. Home office/study
4. Main-floor master suite
5. Outdoor living area
6. Ceiling fans
7. Master suite soaker tubs
8. Stone and brick exteriors
9. Community landscaping, including walking paths & playgrounds
10. Two-car garage
Source: Avid Ratings Photo: Brava Realty
1. Large kitchen with an island
2. Energy efficient appliances, insulation, and windows
3. Home office/study
4. Main-floor master suite
5. Outdoor living area
6. Ceiling fans
7. Master suite soaker tubs
8. Stone and brick exteriors
9. Community landscaping, including walking paths & playgrounds
10. Two-car garage
Source: Avid Ratings Photo: Brava Realty
Thursday, February 4, 2010
Home Insurance Basics
Dwelling policies are also called fire policies, dwelling fire policies, and Texas Dwelling policies depending on the carrier. This is the most basic property policy available.
-It is an actual cash value policy and only covers the property if it is damaged by a fire
-The fire can be caused by a number of things including: electrical short, gas leak, cooking-related fire, flammable object, lightening,
-Since it only covers damage by fire, there is no coverage for hail, wind, water, etc. This category is almost never used on a persons primary home but is found on some types of rental property
Actual cash value policies are a very common offering from various carriers and offer more coverage than a fire policy. They are typically referred to as a named perils policy in that they cover only the perils that are named in the policy including:
-fire & smoke
-theft
-vandalism & malicious mischief
-wind & hail
-and potentially more if added optionally (referred to as "endorsed")
-Claims are paid on a depreciated basis.
Replacement cost policies offer the homeowner more protection in the event of a loss.
-Claims are paid on what it would cost to replace a specific loss such as a roof, furniture, the home, etc.
-Replacement cost can apply to the home, the contents or both
-The amount of replacement cost is limited to the amount of coverage applied to the dwelling and/or contents
This is different from what many people refer to as guaranteed replacement cost where the home can be replaced even if the cost to rebuild it exceeds the amount the home is covered for. Most carriers have changed their policies to limit the amount of replacement cost to the amount of coverage applied to the home and/or its contents.
Each of these categories of homeowners have their place depending on the coverage that is wanted & needed. How much the buyer wants to spend may also influence that decision, as well as the requirements of the mortgage company.
The bottom line is to know what you're buying and what coverage you need or have. No one wants to be surprised after they submit a claim!
Source/More Information: Ed Wise, Liberty Mutual Insurance
Tuesday, February 2, 2010
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