Real Estate Information

    Amid concerns about the economy, homeowners are moving ahead with remodeling plans, but are focusing on smaller projects, according to two separate surveys. In Remodeling Magazine’s 2009-10 Cost vs. Value report, which compares national and regional remodeling costs for 33 popular remodeling projects, homeowners who opted to hire contractors for home remodeling projects in 2009 most often tackled small-scale jobs and replacements.

     Exterior replacement projects (doors, windows, etc.) continue to recoup the most dollars at resale, which makes them attractive to homeowners looking to improve curb appeal. Replacements are also among the least expensive projects to complete. Entry door replacements (steel), which recoup nearly 129 percent of their costs at resale, returned the most on investment. Other high-ranking cost-vs.-value projects were siding replacements, attic bedrooms and deck additions.

     Projects that recouped the least were home-office remodels, sunrooms, upscale master suites, upscale garage additions and upscale bathroom additions.

     For project data for the 80 U.S. cities surveyed, visit Remodeling magazine’s Web site at http://www.remodeling.hw.net/2009/costvsvalue/national.aspx.

     A Service Magic survey also finds that after a brief slowdown in 2009, homeowners are moving forward with their remodeling plans, with a focus on improving the most important areas in their home like bathrooms and kitchens, as well as smaller-scale projects, like countertops. More homeowners also are adding home theaters and computer rooms to personalize their homes for the long-term. While kitchen and bathroom remodels remain popular, fewer owners are tackling larger projects, such as home additions and remodels of multiple rooms.

There’s still time to take advantage of the first-time homebuyer tax credit. The Worker, Homeownership and Business Assistance Act of 2009 extended the deadline for qualifying home purchases from Nov. 30, 2009 to April 30, 2010. In addition, buyers who enter into a binding contact by April 30 have until June 30 to settle on the purchase. The maximum credit amount remains at $8,000 for first-time homebuyers – buyers who have not owned a primary residence within the past three years. 

The new law also provides a tax credit of $6,500 to existing homeowners who have owned and lived in their current residence at least five consecutive years. For all qualifying purchases in 2010, buyers have the option of claiming the credit on either their 2009 or 2010 tax return. 

Under the new law, credit is not available if the purchase price of a home is more than $800,000. Also buyers must be at least 18 years old on the date of home purchase, and dependents are not eligible to claim the credit. For more information about whether the tax credit can benefit you, visit the IRS Website or consult with a qualified tax professional.

As National Census Day April 1 inches closer, U.S. residents will begin receiving 2010 U.S. Census questionnaires in their mailboxes beginning in March. Under the U.S. Constitution, a national census is completed every 10 years to get an accurate picture of the nation’s growing and changing population and demographics. Every resident of the United States and Puerto Rico, including citizens and non-citizens, is required by law to complete a 2010 Census form to account for everyone living at their household address as of April 1, 2010.

After completing the 10-question form, return it in the postage-paid envelope provided. If you fail to return your census form, a census taker will follow up to arrange a personal interview to collect your information.

The census data is used to determine the number of seats each state occupies in the U.S. House of Representatives. It also helps to determine how $400 billion in federal funding will be allocated every year for infrastructure and services, such as hospitals, schools, emergency services, roads and bridges, and job training centers. For businesses, census data is critical to help them make strategically and fiscally sound decisions that spur economic growth.

Key Dates for 2010 Census 

March 2010 – Census questionnaires are mailed or delivered to households.

April 1, 2010 – Census Day

May – July 2010 – Census takers visit households that did not return a questionnaire.

December 2010 – By law, the Census Bureau delivers population counts to the President for apportionment.

March 2011 – By law, the Census Bureau completes delivery of redistricting data to states. 

To ensure your community receives the services it needs, everyone needs to be counted.

     When it comes to window treatments, the options might seem endless, but the decision process doesn’t have to be overwhelming. HGTV recommends that you focus on the four main options: blinds, shutters, shades and curtains.

    During the winter months, window treatments can affect the temperature in your home. According to the U.S. Department of Energy, pairing close-fitting drapes with a cornice can reduce airflow around windows by up to 25 percent. If you mount your shades or blinds inside your window casting, you’ll also be able to minimize drafts, and be ensured a cozy, warm winter.

    Keep in mind that color and pattern are key when deciding what window treatment to use. Lighter colors will make a smaller room appear larger, while darker colors tend to shrink a room. Mix it up by playing with different textured shades such as rattan or bamboo.

    Shades and curtains made from lighter fabrics allow more light to filter into the room. But depending on your taste, a heavier fabric can look more elegant, while a longer drapery will look more formal. To ensure you have enough fabric for overlapping, buy an amount of fabric two to four times the width of the window.

    The cost for window treatments varies almost as much as the options themselves. You could spend anywhere from $16 for a light, sheer shade, to $400 for wood shutters.

Indoor pollution sources that release gases or particles into the air are the primary cause of indoor air quality problems in homes. These three strategies from the Environmental Protection Agency will help improve air quality in your home.

    Source control. The most effective way to improve indoor air quality is to eliminate individual sources of pollution or to reduce their emissions. For example, areas that contain asbestos can be sealed off or enclosed, and gas stoves can be adjusted to decrease their emissions.

    Improved ventilation. Heating and cooling systems don’t usually bring fresh air into your home. To increase the amount of outdoor air that comes inside, open windows and doors, operate window or attic fans when the weather permits, or run a window air conditioner with the vent control open. And save pollutant-emitting activities like painting, sanding, soldering or welding for outside.

    Air cleaners. There are many types and sizes of air cleaners on the market, from relatively inexpensive tabletop models to sophisticated and expensive whole-house systems. Some air cleaners are highly effective at particle removal, while others are much less so. In general, air cleaners are not designed to remove gaseous pollutants.

    For a simpler solution, try a plant. Although it has not been scientifically proven, there is some evidence that household plants can help remove significant quantities of pollutants from the air in your home. But be careful: overwatering plants can be detrimental to your home’s air quality — damp soil can promote the growth of microorganisms.

You know it’s important to keep your business and personal lives separate, but that can be tricky when they take place under the same roof. So when you decide to set up a home office, keep the following tips from HGTV and Lowe’s in mind.

    The first step in drawing a line between work and play is with your computer. It might be tempting to use the family computer for business, but that increases the chances that someone might accidentally delete an important file. A dedicated business-only computer will help you avoid that danger. You also might need to have professionals install additional electrical, phone or cable outlets to accommodate your various office equipment (phone, computer, fax, etc.).

    Experts suggest that you divide your new office into three sections: the work center, the reference center and the supply center. The work center includes your desk, computer and things you use on a regular basis. The reference center includes dictionaries, books, binders, etc. Consider placing a small filing cabinet or installing shelves behind your desk for easy access. Finally, the supply center of your workspace holds all your office supplies. To save money on storage solutions, consider using shoeboxes for holding note cards and other small items, for example, or jars for keeping pens and pencils.

According to the 2009 National Association of REALTORS® Survey of Home Buyers and Sellers, 64 percent of buyers say the biggest factor influencing where they choose to live is the quality of the neighborhood. Other important factors include convenience to jobs (50 percent), housing affordability (43 percent) and convenience to family and friends (37 percent). Quality of schools (26 percent), convenience to shopping (26 percent), neighborhood design (23 percent) and convenience to schools (21 percent) are also important, buyers say.

While neighborhood amenities, location and affordability are important, the experts at Movers.com say buyers also should consider other factors, such as safety, property values, cost of living and public transportation.

Before moving across the country to an unfamiliar location that could be unsafe, potential homebuyers should research the area’s crime statistics or call the local police department for detailed information. Property values, cost of living and budgetary concerns will also influence neighborhood choices. 

If you depend on public transportation, find out what services are available, whether there are bus stops or train stations in the neighborhood you are considering, and whether their schedules will meet your travel needs.

To learn more about prospective neighborhoods, check out sites such as City-data.com, NeighborhoodScout.com, Citytowninfo.com and Bestplaces.net, which contain information about schools, crime rates, demographics, amenities and employment.

Most New Year’s resolutions have some kind of health angle — work out more, eat right and so on — so why not give your home the same kind of revamp? Resolve to keep your home healthier this year with this seasonal checklist.

Spring

• Clean your gutters. Backed-up gutters can wreak havoc on siding and cause flooding. Scoop out leaves and debris with a trowel or hire professionals to do it.
• Check your roof. Wintry weather may have damaged the surface, and the first big rainstorm, left unchecked, could cause significant problems. Replace shingles as needed.
• If your fireplace got a workout during the winter months, give it a clean sweep. Call in the experts to inspect and clean creosote buildup.

Summer

• Walk around your house to check for unsealed spots where squirrels or mice could sneak in. Look carefully for termites or ants, too. Inside, check your attic and make sure egress points are sealed tightly.
• Get ready for the warm season by giving any outdoor equipment (pools, swing sets, etc.) a thorough, top-to-bottom cleaning.

Fall

• Ensure your furnace is in prime shape for the cold months ahead, and change all the air filters in your home.
• Make sure your house is adequately sealed. Apply weather stripping (such as tape, felt, foam or vinyl tubing) around doors or windows.
• Trim branches near your home or roof to prevent damage when wintry weather hits.

Winter

• Drain and insulate outdoor pipes to prevent freezing.
• Check for damaged sidewalk, driveway or stairs, and repair them before the first snow to avoid dangerous mishaps.

    Is storage space a problem in your home? Is the crunch of clutter overwhelming your life? Consider these creative solutions.

    For starters, make sure furniture is doing double duty. Invest in ottomans with hidden storage to stash remote controls and blankets and a coffee table with drawers or a bottom shelf to hold magazines. Consider putting a chest in the foyer to store sports equipment and shoes or installing coat hooks on the wall to free up more hall closet space.

    Boxes and jars are your best friends when it comes to organizing your odds and ends. Group like items together — such as old letters, cards or photos — and store in colorful boxes. Label the outside of the box so you know what’s inside, and use the same trick to organize shoes.

    Think tall. Choose vertical, not horizontal, bookshelves to conserve space, and display framed photos or artwork on the upper shelves where access isn’t as important. Put frequently used items, such as recipe books, CDs or DVDs, on bottom shelves.

    Make better use of the space under your bed with clear bins for storing extra linens or off-season clothing (put clothes in vacuum- sealed bags to conserve even more space). If your bed doesn’t have much space underneath, consider putting it on risers.

    In the kitchen, hang pots on an overhead rack rather than stowing them in cupboards, and put frequently used utensils like spatulas and whisks in an easily accessible vase on the counter.

Creating a household budget is hardly a fun exercise, but it is a necessity, especially in these tough economic times. Determining where monthly paychecks go can help rein in bad spending habits and create new, fiscally friendly ones. 

To start, financial planners suggest you gather a year’s worth of bills and loan payments to create a complete picture of your expenses. Make a list and assign each to a category, such as groceries, utilities, mortgage, auto and entertainment. Be sure to note when your spending increases throughout the year, such as around holidays or annual vacations.  

 Next, determine fixed and variable expenses. Fixed expenses have little to no change each month, such as mortgage, car payments or cable bills. Variable expenses change monthly—groceries, gas or personal expenses such as morning coffee runs.   

Once you’ve sorted your expenses and calculated a monthly average, figure out your monthly income by checking your pay stubs and other sources of revenue. Ideally, your expenses should not be greater than your income. Your ultimate goal is to create a “zero-dollar budget” to see exactly where each dollar of your income goes. The money left over      should be put into a savings account or used to pay down credit card debts.   

When you’re through with this exercise, look for ways to build an emergency fund. Consider putting aside enough for three to six months’ living expenses. If this number is too daunting, set a goal for smaller amounts, like  $1,000 to $3,000.