Creating an outdoor living room

(ARA) - For leisurely entertaining this summer, take full advantage of the great outdoors and extend your living space by creating an outdoor room. Why not have an outdoor living room with comfortable seating for all or your friends, or a space where you could fire up the grill and dine out under the stars?  Adding a level, low maintenance surface, like a patio, will give you not only the pleasure of living in your outdoor space, but of loving it too.



A great way to create this space is by installing pavers, bricks, or stone to create beautiful patios and paths. Whether you do it yourself or hire a professional, it can be as easy as installing a winding path to connect your home to your garden or creating a space for a cozy bench to watch the birds splashing in the bird bath.



Pavers come in many different shapes, sizes and colors, offering you ways to customize your ideas to match your house and landscaping. Once you have your patio or walkways installed, you can make your backyard inviting and appealing all summer long. Here are a couple of fun, easy tips:



*Find sturdy, comfortable seating that will withstand the elements for years to come.  Try wrought iron, wood, or even resin (often made from post-consumer bottle waste such as milk containers) for low-maintenance options. These are readily available in your local garden or specialty stores.



*Seating is even more comfortable with the quick addition of colorful cushions and throw pillows.  Swap these out for a change of scenery and store pillows in a clean, dry space (like a garage or storage bench) when not in use to extend their lives.



*Plant flowers, herbs, and vegetables in containers to add a pop of color to your outdoor living spaces.  Keep these lush and lively all summer by planting seedlings in a good quality potting mix like Miracle-Gro Potting Mix with Moisture Control.



*Keep unwanted grass and weeds from popping up between the pavers by using Ortho GroundClear. This weed control can be used early in the season between the pavers to kill the weeds you see popping up, and will keep new weeds from growing for up to one year. What a great way to spend less time working and more time enjoying your yard!



* Use an edger to trim the grass around the walkways and the edge of your patio for a more finished appearance.



*String some twinkle lights for a festive party atmosphere and use inexpensive, solar powered yard lights to illuminate your outdoor spaces.  These usually require little or no installation; just stake in the ground along paths or in pots for added interest.



With the addition of patios or paths and a trimmed, designer look in your backyard, you'll be able to enjoy spending time in your outdoor living space, and not have to worry about a lot of maintenance to keep it looking beautiful.  Start living in the outdoors and loving it.



Courtesy of ARAcontent

Some Cities Unaffected by Recession

Some U.S. cities with stable housing and diversified employment have been virtually untouched by the Great Recession.

Analysts say cities that are most likely to leave the recession in the same or better condition than they started it are those where home prices didn’t fluctuate wildly, which spared them the devastating effects of foreclosure, lost jobs, and lost productivity.

If there is a lesson to be learned, experts say, it is that families looking for long-term economic stability should settle in locales with diverse employment and minimal shifts in housing values.

To identify these cities, Forbes magazine ranked the 100 largest Metropolitan Statistical Areas by employment rates, the conventional mortgage home price index, and the average days on the market for properties currently for sale.

The top cities on Forbes list were:

Omaha/Council Bluffs, Neb.
San Antonio, Texas
Austin-Round Rock, Texas
Pittsburgh
Harrisburg/Carlisle, Pa.
Dallas/Fort Worth
Rochester, N.Y.
Houston
Raleigh/Cary, N.C.
Baton Rouge, La.

Source: Forbes, Francesca Levy (11/19/2009)

Texans vote for amendments that benefit homeowners

Texas voters approved three constitutional amendments that will help reform the property appraisal process, making the system fairer for property owners. Voters also passed a proposition that will strengthen protections against a government entity unfairly taking private land or homesteads through eminent domain.

Proposition 2 will ensure that property-tax appraisals value a residence homestead as a home, not at its "highest and best use."

Proposition 3 creates uniform standards across the state for appraisal methods.

Proposition 5 enables appraisal districts in two adjoining counties to combine resources for a single review board.

Proposition 11 strengthens eminent domain protections, barring government entities from taking private property for private development or for purely economic reasons.

Texas REALTORS supported these amendments because of the benefits they provide to homeowners.

Courtesy of: Texas Association of REALTORS

$8000 1st Time Homebuyer Tax Credit Deadline is Near

The deadline is approcahing and will be here before you know it. 1st Time Home Buyers have just a little over 100 days before the $8000 tax credit is gone.

The American Recovery and Reinvestment Act of 2009 authorizes a tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence on or after January 1, 2009 and before December 1, 2009.


Don't miss out on this government housewarming gift.

Housing Market on the Rise

Jul 23, 12:06 PM EDT – Dallas Morning News

June existing home sales rise by 3.6 percent
By ALAN ZIBEL
AP Real Estate Writer
WASHINGTON (AP) -- The U.S. housing market has started to recover from the most far-reaching crisis since the Great Depression, data released Thursday shows.
Sales of previously occupied homes rose for the third month in a row in June, the National Association of Realtors reported. That hasn't happened since early 2004, during the boom.
"The turnaround in the housing market appears finally to be here and indeed may be gaining some speed," wrote Joel Naroff, president of Naroff Economic Advisors Inc.
Stocks jumped on the news, with the Dow Jones industrial average rising above 9,000 for the first time since early January.
Home sales rose 3.6 percent to a seasonally adjusted annual rate of 4.89 million last month, from a downwardly revised pace of 4.72 million in May. Sales were up in all four regions of the country.
It was the highest level of sales since last October and beat economists' expectations. Sales had been expected to rise to an annual pace of 4.84 million units, according to Thomson Reuters.
In another encouraging sign, the share of foreclosures on the market is shrinking. About one out of three homes sold in June was foreclosure-related, down from nearly half earlier this year.
And the glut of homes up for sale dwindled to 3.8 million. That's a 9.4-month supply at the current sales pace and another important sign of a recovery. When the market balances at a 7-month supply prices should begin to stabilize, the Realtors's group said.
That probably won't happen until next year because of a backlog of foreclosures that have yet to come on to the market. The median sales price was $181,800 in June, down 15 percent from year-ago levels but up slightly from $174,700 in May.
Nevertheless, prices have risen for three straight months in about half of the 55 major metropolitan areas tracked by the Associated Press-Re/Max Housing Report, also released Thursday.
Source: © 2009 The Associated Press. All rights reserved.

10 Ways to Prepare for Homeownership

1. Decide what you can afford. Generally, you can afford a home equal in value to between two and three times your gross income.

2. Develop your home wish list. Then, prioritize the features on your list.

3. Select where you want to live. Compile a list of three or four neighborhoods you’d like to live in, taking into account items such as schools, recreational facilities, area expansion plans, and safety.

4. Start saving.Do you have enough money saved to qualify for a mortgage and cover your down payment? Ideally, you should have 3.5% to 20% of the purchase price saved as a down payment. Also, don’t forget to factor in closing costs. Closing costs — including taxes, attorney’s fee, and transfer fees — average between 2 and 7 percent of the home price.

5. Get your credit in order.Obtain a copy of your credit report to make sure it is accurate and to correct any errors immediately. A credit report provides a history of your credit, bad debts, and any late payments.

6. Determine your mortgage qualifications.How large of mortgage do you qualify for? Also, explore different loan options — such as 30-year or 15-year fixed mortgages or ARMs — and decide what’s best for you.

7. Get preapproved. Organize all the documentation a lender will need to preapprove you for a loan. You might need W-2 forms, copies of at least one pay stub, account numbers, and copies of two to four months of bank or credit union statements.

8. Weigh other sources of help with a down payment. Do you qualify for any special mortgage or down payment assistance programs? Check with your state and local government on down payment assistance programs for first-time buyers. Or, if you have an IRA account, you can use the money you’ve saved to buy your fist home without paying a penalty for early withdrawal.

9. Calculate the costs of homeownership. This should include property taxes, insurance, maintenance and utilities, and association fees, if applicable.

10. Contact a REALTOR®. Find an experienced REALTOR® who can help guide you through the process.

Source Realtor.org

Home Lending Rates Falling Again

Daily Real Estate News


Rates on 30-year fixed mortgages fell to 5.14 percent for the week ended July 16, down from 5.20 percent a week before and 6.26 percent a year earlier, Freddie Mac reports.

Interest on fixed home loans has fallen in four of the past five weeks, and Freddie Mac economist Frank Nothaft says rate activity during that time has lowered the monthly payment on a $200,000 loan by $56.

Here’s a look at how other mortgage rates performed this week:

15-year fixed loans fell to 4.63 percent from 4.69 percent.
One-year adjustable-rate mortgages fell to 4.76 percent from 4.82 percent.
Five-year hybrid ARMs bumped up a notch to 4.83 percent from 4.82 percent.

Source: Grand Junction Free Press, Wyatt Haupt Jr. (07/17/09)

New kitchen luxuries make entertaining easy

(ARA) - Entertaining at home is the perfect way to spend time with your family and friends, as nothing beats relaxing and enjoying the beautiful summer weather with your guests. Unfortunately, hosting the party has always had one down side -- being stuck in the kitchen cleaning and cooking while others enjoy the festivities.



Now, there is hope for home entertainers. New kitchen innovations provide an easy way to entertain, while adding a gourmet touch to your decor. Spend the evening socializing instead of slaving away in the kitchen.



Luxury meets technology



Every homeowner wants (and deserves) a little luxury in their home, but especially in their kitchen. Appliances are beginning to look and act more luxurious by increasing their functionality through another popular home trend -- technology. Many appliances merge lavish looks with innovation to create the perfect addition for any kitchen. These new smart appliances go beyond their traditional functions, like heating food or keeping it cold. Instead, they perform greater tasks such as collecting recipes, quickly preparing meals and keeping the pantry stocked with automated, electronic lists.



The 36-inch induction hybrid cooktop from Electrolux can really speed up your cooking, which is great for parties, keeping you out of the kitchen and engaged with your guests. You can boil water in just 90 seconds, and its Perfect Set Controls allow you to store up to 25 programmed settings to immediately raise or lower temperatures so cooking can begin at any time -- without waiting or preheating. Just input the specific settings in advance for the dishes you’ll be cooking at your next bash, and you’ll be able to get your last minute prep finished while welcoming your guests.



Appliances once only found in restaurants are now making their way into home kitchens. Ovens and microwaves aren’t the only kitchen appliances that can keep food warm; warming drawers are the newest product to be included in today’s kitchens. Dacor’s Warming Drawers feature an electric touch pad with four different settings and temperatures. This way, you’ll be able to keep all of the dishes you made in advance warm and ready to serve throughout the duration of your soiree. And best of all, the drawers can be custom made to match the rest of the cabinets in your kitchen to ensure a consistent look throughout.



Functional faucets



Kitchens can look and feel sophisticated by making a few simple changes that will easily take the look of your kitchen from average to elegant.



Increase the sophistication of your kitchen by installing a faucet with a design that brings beauty into the small space of the sink. The new Woodmere pulldown faucet from ShowHouse by Moen features a traditional sleek design, making it a great focal point at the sink. As the first traditional pulldown faucet in the ShowHouse portfolio, its high-arc spout and S-shaped handle allow Woodmere to make a bold statement and impress your guests by adding an extra element of elegance to the kitchen. The single-mount design creates less clutter, making it an ideal choice for deluxe countertops, such as granite. Clean-up in and around the sink is also a snap when you’re getting ready for your partygoers to arrive.



Woodmere offers much more than style; it also offers increased functionality that’s ideal for completing any kitchen task. The pulldown wand features three functions: pause, spray and stream. The last thing you want when company arrives is a pile of dirty dishes in your sink from all of your party prep. But the combination of Woodmere’s features and unique, patented pause button makes washing dishes quick and easy so you can avoid the clutter altogether. The faucet is available in three different finishes -- Chrome, LifeShine Classic Stainless and Oil Rubbed Bronze, to coordinate with the rest of your kitchen.



No host or hostess should miss an entertaining event by being trapped in the kitchen to babysit the stovetop or deal with the clean-up that comes with having a party. Instead, by installing luxurious and technologically savvy products, you’ll be sure to have a summer full of easy, elegant entertaining. Who says you can’t have it all?



For more information on the Woodmere pullout kitchen faucet from ShowHouse, visit showhouse.moen.com or call (800) BUY-MOEN (800) 289-6636.



Courtesy of ARAcontent

Get more for your money when purchasing replacement windows

(ARA) - Energy efficiency has gained national importance and window replacement is recognized as one pathway to aid in energy independence and the reduction of harmful global emissions.



Choosing replacement windows with energy-saving benefits is simple and the federal government also made it less expensive for homeowners with the signing of the American Recovery and Reinvestment Act of 2009.



The bill includes the opportunity for homeowners to claim a tax credit of 30 percent of the cost of eligible energy-efficient products to a maximum of $1,500 per household for 2009 and 2010 combined when used for remodeling and replacement. According to the IRS, a tax credit is a dollar-for-dollar reduction in your tax liability and can be deducted directly from your taxes owed.



While energy efficient replacement windows are included in this tax credit, not all replacement windows will qualify. Paul Delahunt, president of Renewal by Andersen, says, given the new tax credit, now is the best time to replace your leaky, worn-out windows. But he also cautions homeowners to do their homework to make sure the windows they purchase will qualify.



To qualify, windows must provide high levels of energy efficiency in two categories: reduced heat loss and reduced heat gain. The measurement for heat loss is called U-Factor and the measurement for heat gain is called Solar Heat Gain Coefficient, or SHGC. To meet the performance requirements, the window or door must have both a U-Factor and SHGC rating equal to or less than 0.30 in all climate zones in the U.S.



When comparing windows for energy performance -- and the 2009/2010 tax credit -- be sure to check the National Fenestration Rating Council (NFRC) label that is displayed on the product. This label displays the U-Factor and SHGC ratings for the window or patio door. If the product does not have this label, then the unit does not have a certified NFRC value.



Qualifying replacement windows must be purchased and installed in a primary residence between January 1, 2009 and December 31, 2010. While quality installation is a critical component of any successful window replacement project, installation costs are not included in the 2009/2010 tax credit. Your sales receipt should break out qualifying product costs separately.



In addition to your sales receipt, you will also need to save the NFRC label from each window or the Manufacturer’s Certification Statement with your tax documents.



Renewal by Andersen makes it easy for homeowners to take advantage of the new federal tax credit with its extensive selection of windows and patio doors with glass packages that meet or exceed the performance criteria to be eligible for the credit.

In fact, Delahunt says, virtually all Renewal by Andersen windows with High-Performance Low-E4 SmartSun glass are eligible for the tax credit. These same windows with SmartSun glass are up to 47 percent more energy efficient in winter and up to 70 percent more energy efficient in summer compared to ordinary dual pane glass -- making a big impact on reducing your energy bills.



Courtesy of ARAcontent

The lighter side of nature-inspired home decor

(ARA) – If the words “nature-inspired decor” make you think of muted wall hues or overwrought floral fabrics, it’s time to rethink your take on this hot design trend.



Nature-inspired design can certainly be soothing, sedate and traditional, but a plethora of new products and techniques is also bringing the bold, bright and fun side of nature indoors. Whether it’s a throw pillow that looks like birch bark or a full wall mural of green bamboo, nature’s brighter side is spicing up modern American decor.



If you’re looking for fun, funky ways to bring the brighter side of nature-inspired design into your home, here are a few ideas and items to look for:



“Woodn’t” it be good …



Wood has been a beloved design element in home interiors for centuries. But you don’t have to invest in expensive hardwood floors or put up with dated wall paneling to enjoy wood’s rich beauty in your decor. Logs are the latest, and not just in log homes.



From glass tabletops perched delicately atop natural twig and branch bases, or a faux wood-grained area rug to plush throw pillows in fabric that mimics the grain of natural wood, you’re barking up the right tree by incorporating the look of log into your decor.



You don’t have to spend a dime to bring this trendy yet timeless material into your home, either. Simply take a stroll in the woods, gather some eye-catching branches, bring them home, tie with your favorite colored ribbon and use them as an accent piece above mantles, windows or doorways.



Way to do a wall



Wall murals have been around for thousands of years, and the latest twist on nature-inspired murals is bold. Forget the walls of idyllic woodland scenes that were ubiquitous during the 1970s. Modern nature-inspired murals amplify the graphic qualities and bright hues found when you take a closer look at Mother Nature’s artistry.



Zoomed in close-ups of a pebble-filled beach, bright green bamboo stalks and graceful birch trunks turn familiar natural scenes into graphic design elements that emphasize color and pattern. Each look adds a unique touch of nature-inspired drama to a room’s design. You’ll find all three murals for just $99 at www.DecorPlace.com, which sells easy-to-install wallpaper murals.



Whimsy away



Some nature-inspired decor is anything but serious. From parchment votive holders made out of real vegetables (at www.vivaterra.com) to lamps that resemble a tumble of glossy stones (www.stonecreationsonline.com), it’s easy to find the fun side of nature-inspired accessories.



Made slice by slice from fresh produce, sculptor Margaret Dorfman presses veggies into durable parchment, then fashions them into flower shapes to create inventive votive holders.



Bamboo is another versatile material that’s finding fun applications in American homes. A serene stand of miniature bamboo shoots elegantly displayed on a coffee table is a perfect foil to the vibrant, joyful color of a bamboo wall mural. A spritely bamboo window film (www.Amazon.com) can balance the rich, practical presence of bamboo flooring.



Americans’ continuing interest in the environment and eco-friendly living is sure to keep the nature-inspired home decor movement going strong. Colorful, whimsical decorator items that remind us of Mother Nature’s sense of humor are finding their place beside the more serene staples of this decorating trend.



Courtesy of ARAcontent

Mortgage Rates are Rising

Mortgage Rates Reach 7-Month High
Higher interest rates put the brakes on mortgage refinancing this week, according to Freddie Mac.

The firm's weekly survey pegged interest on 30-year fixed mortgages at an average of 5.59 percent -- up from 5.29 percent last week and the highest rate since November 2008.

Other rates also climbed:

Interest climbed to 5.06 percent from 4.79 percent for 15-year fixed loans;
5.17 percent from 4.85 percent for five-year, adjustable-rate mortgages;
5.04 percent from 4.81 percent for one-year ARMs.

Freddie Mac chief economist Frank Nothaft says the gains are not affecting home purchase loans.

Source: Boston Globe (06/12/09)

Adding deck lights a simple way to enhance outdoor living

(ARA) - As summer rolls in and guests show up, the benefit of having outdoor living space for relaxing and entertaining becomes readily apparent. Homeowners love having extra space where they can hang out, and outdoor environments are a huge plus for those trying to sell or rent out a home.



Overall home improvement project budgets are shrinking in 2009, while low-cost improvements are growing in popularity with both residential homeowners and landlords who want to give their properties a little added boost, according to the National Association of Home Builders.



Outdoor lighting is a popular improvement. In addition to traditional landscape lighting, deck lights, post lights and recessed path lights extend the livability of outdoor decks and patios, and offer a low-cost update with the benefit of improving the usability of outdoor spaces.



"Today it seems that the more practical the upgrade, the better. And lighting is an easy upgrade that adds instant function, ambiance and value," says Jay Savignac of Aurora Deck Lighting.



"In a down economy, people stay home more. They entertain at home more. This makes usable spaces more important than ever, and outdoor living areas remain one of the top areas for home improvement," Savignac says.



Taking your backyard deck or patio from daytime roost to night time entertainment space is easy. In fact, there have never been more product options available to homeowners for lighting up their deck or fence, and creating an inviting and usable outdoor area for night time enjoyment.



Savignac says homeowners can easily install outdoor lighting in just one weekend, or even less time if they opt for lights that don't require wiring, such as solar options.



Best of all, outdoor lighting products can be installed without the aid of an electrician and, in most communities, no permits are required. Homeowners have a variety of options to consider:



* Post lights are easy to install on the tops of deck posts and fence posts. They can be positioned directly on top of posts or mounted on the rails using special mounting brackets. Their distinctive "lantern look" offers an elegant finish to decks, and post lights are available in a variety of styles, sizes and colors that work with all sizes of posts on both decks and fences. Matching post caps are also available.



* Post lamps mount vertically on deck or fence posts and offer spot lighting, which can add security and safety in dark areas or near stairs. Post lamps on fences are a popular addition that fence builders say add value and security, as well as dramatic effect.



* Special "stair lights," like the Pyxis from Aurora, mount easily into the vertical riser on a stair to provide downlighting for safety and sure footing.



* Recessed deck lighting, like the Aurelle from Aurora, is a new product that can install under seating, in deck floor boards, or even overhead inside patio covers to add lighting using the same concept as recessed lighting indoors.



Outdoor lighting projects are easy to complete. Homeowners can choose from solar options that have no wiring requirements, or low-voltage lighting that works off a transformer and operates from a standard 110 volt power source. Outdoor lights can run off a timer or can be wired into light switches in the home for maximum control.



Your own outdoor lighting plan can be as simple or as complex as you desire. Aurora has transformers that can handle up to 50 lights, although accent lighting using as few as four or five lights can make all the difference in creating an outdoor living space that can be readily enjoyed at night.



Best of all, you can create a custom look that works for you, adding light in cooking areas, near stairs or gates, or along bench seating where guests congregate.







Courtesy of ARAcontent

Water-conserving, money-saving tips for summer gardens

(ARA) - Summer 2009 may be a bit less dry than last year in some areas of the country, according to the National Weather Service’s Seasonal Drought Outlook. But it still makes sense, both environmentally and economically, to conserve water as much as possible in your gardening and landscaping efforts.

“Nothing shouts ‘green’ quite like a thriving garden or a lush landscape,” says Susan Thayer, an irrigation and water conservation expert, “. . . except, perhaps, a beautiful yard or garden that’s been nurtured with green practices that conserve precious water.”

While drought in some mid-northern areas is expected to improve, dry conditions will likely persist in areas such as California, Texas, Florida and North Carolina, according the Seasonal Drought Outlook map. One thing that isn’t likely to change anytime soon, however, is the need to cut costs and conserve resources during an economic recession.
http://www.misterlandscaper.com">Conserving water makes sense environmentally, and can also help your family reduce your water utility bill this summer.

It is possible to grow a thriving garden and nurture a lovely landscape while minimizing water consumption and saving money on your water bill. A combination of native-friendly plants, smart agricultural practices, alternative water sources and efficient irrigation can help keep gardens and lawns growing healthy throughout dry summer months.

Here are some tips for conserving water and saving money by reducing your water bill in your corner of planet.

* Choose drought-resistant native plants for your landscaping needs. Your options won’t be limited to cactus, either. From ornamental grasses to shrub roses, many drought-tolerant native species also offer bright color and visual appeal. Look for plants that do well in the driest conditions found in your geographic region. Your local Cooperative Extension office can help you identify plants that are right for your area. You’ll also find plenty of ideas online at sites like http://www.misterlandscaper.com">Irrigate efficiently with low-volume irrigation systems and smart watering practices. Many communities now require all newly built homes to use low-volume irrigation in their landscapes. On average, micro sprinklers and drip irrigation uses 80 to 90 percent less water than traditional irrigation systems.

Irrigation manufacturers like Mister Landscaper are responding to increased consumer demand for low-volume systems by offering micro sprinkler and drip products that homeowners can easily install on their own. Mister Landscaper’s Micro Sprinkler Starter Kits efficiently and slowly irrigate flower and vegetable gardens, as well as areas where trees and shrubs grow. They are available in the plumbing department at Lowe’s Home Improvement stores or online at www.misterlandscaper.com. The system also offers a variety of retrofit products that allow you to replace or add on to an existing underground pvc sprinkler system so you can convert 120 gallons per hour (gph) heads to a 10 gph micro spray or 1-2gph dripper.

“The key is to apply water only exactly when and where it is needed,” Thayer says. Drip and micro spray irrigation provide optimum efficiency with minimum waste and over spray.

* Design your landscaping to minimize evaporation. Windbreaks and fences slow the movement of the wind over the ground and the evaporation it causes, according to the Natural Resources Conservation Service.

What You Should Know When Shopping for a Water Heater?

ARA) – How’s your relationship with your household appliances? You open your refrigerator every day and run the dishwasher, clothes washer and dryer several times each week.

But how often do you think about your water heater? You use it every day, usually multiple times a day. When was the last time you thought about how much energy it consumes or how well it’s doing its job?

Heating water can account for 14 to 25 percent of the total energy consumed in your home, according to the U.S. Department of Energy. Choosing the http://www.hotwater.com">right water heater for your home and regularly maintaining it can help reduce your energy bills. What’s more, you can actually get a tax break for choosing an energy-efficient water heater.

Under the new American Recovery and Reinvestment Act of 2009, if you install a natural gas or propane water heater with an Energy Factor (EF) rating of at least .82, or 90 percent thermal efficiency, you could qualify for a tax credit of up to 30 percent of the total cost of installing the heater, including labor, up to a maximum of $1,500. In addition to the potential tax savings, many utility companies now offer rebates to homeowners who install new, energy-efficient water heaters.

So how do you choose the right water heater for your home? Here are some tips:

The Department of Energy advises you to consider several factors, including the type of fuel available to your home (gas, oil or electric), the size of your home, the energy efficiency rating of the water heater you’re considering, and the annual operating costs of different types of water heaters. The size water heater you need will vary based on the size of your home, how much use you anticipate it will get and the type of heater you’re considering.

It’s important to know the differences between standard water heaters and http://www.hotwater.com">high-efficiency models. For example, the Vertex high-efficiency water heater, produced by A. O. Smith, replaces the straight exhaust pipe found in standard gas models with an innovative helical coil inside the tank. Conventional heaters lose roughly 25 percent of their energy through the exhaust. Tankless heaters don’t fare much better, clocking efficiency levels of just 80 to 84 percent. The Vertex’s special design boosts efficiency to 96 percent, saving homeowners money on their gas bill and providing more hot water faster than conventional models.

Even if your water heater is currently working, if it’s an older, inefficient model, you could reap real cost benefits by replacing it with a more energy-efficient one. The average lifespan of a water heater is 12 to 14 years. If yours is approaching the end of its usable life, it’s a good idea to research your options and decide on a proactive replacement. If you find yourself without a functioning water heater and no plan for replacing it, you’ll be more likely to go for the quickest, cheapest option available – which might not be the best choice for your needs.

Five categories of water heater are now Energy Star rated, including high-performance gas storage, whole-home gas tankless, advanced drop-in or integrated heat pump, solar and gas condensing. For each type of water heater, the Energy Star rating can help you determine just how energy efficient a model is.

Finally, be aware that opting for energy efficiency doesn’t mean you’ll have to sacrifice performance in terms of how much hot water you’ll get and how quickly. In fact, modern energy-efficient heaters like the Vertex can produce more hot water, more quickly and for less money than other models of comparable size. The enhanced performance fits well into Americans’ busy lifestyles with high demand for hot water.
Courtesy of ARAcontent

Is Now a Good Time to Buy a House in Texas?

Buying a house is a big step. The right time to take this leap depends on your financial and personal situation as well as your goals. If you are considering buying a house now, here are some strong reasons why the timing could be right:

• Housing prices in Texas have been steadily rising at a moderate pace for many years, even while other states have experienced wild price fluctuations.


• If you’re a first-time buyer (not owning a principal residence in the last three years), you may qualify for a tax credit of up to $8,000. This federal tax credit expires Dec. 1, 2009.


• Other Texas-specific programs can lower your interest rate or provide additional tax-credit incentives.


• Interest rates are at or near record lows. Even small reductions in the interest rate can significantly boost the purchase price you can afford when buying a home. Texas has one of the most affordable housing markets compared to household income, according to the Real Estate Center at Texas A&M University.
• Our state’s economy is strong and diverse, and the population is expected to continue growing steadily. These factors all point to continued health in the housing market.

Source: TexasRealEstate.com

Don't stay on the Fence about buying a Home

Daily Real Estate News | April 3, 2009 | Share
A Record Low for Mortgage Rates, Again
Just one week after 30-year mortgage rates fell to a record low of 4.85 percent, the average dropped even further to 4.78 percent this week, Freddie Mac reported.

Refinancing activity has picked up because of the low rates, and the Mortgage Bankers Association says approximately 80 percent of mortgage applications came from borrowers seeking to refinance.

Source: Boston Globe (04/03/09)

© Copyright 2009 Information Inc

Spring Home Deals are Healthy for Those Who Know the Score

(ARA) – Motivated sellers, builders offering deep discounts and incentives, historically low mortgage rates, plenty of inventory and fierce competition for qualified borrowers –it’s actually a great time to be buying a house. If your credit score is good, you’re in an even better position to negotiate the loan on the home of your dreams this spring.



Spring has always been a popular time to buy a new home. More people put their homes on the market when the weather is warm, and a wealth of inventory is available. With winter thawing into distant memory, home shoppers are ready for a fresh start in a new house. Buying a home in spring will help new homeowners ensure they move their families during the summer, and not at the beginning or in the middle of the school year.

With plenty of housing opportunities and low interest rates currently available, it pays to ensure you’re in a position of power when you go home shopping this spring. Here are some simple tips for ensuring you’re in the driver’s seat when buying a house:



Know Your Credit Score



You may not be able to control the economy, but your credit score is a financial reality you do have control over. The higher your score, the more likely you are to be able to negotiate lower interest rates when mortgage hunting.



Before you look at a single house, find out what your credit score is. Sites like FreeCreditReport.com give you access to your free credit report -- which will show potential lenders your payment history and help them decide if you’re a good or even great credit risk. Through the Web site, you can also get your credit score from Experian, one of the three top credit bureaus lenders turn to when evaluating the credit-worthiness of potential borrowers.



The better your score, the better your chances of scoring a great loan, so take steps to improve your score, such as paying off credit cards quickly, paying bills on time and minimizing your use of  revolving credit. Errors can occur and if you find some on your credit report, work directly with the credit bureaus to have them corrected.



Know the Playing Field



Once you’re confident you have a powerful credit score, research the market where you’re interested in buying. In addition to considering the quality of schools, proximity to work, entertainment and amenities a neighborhood has to offer; consider the number of foreclosures in an area and how much home values have dipped in the past year.



Is the neighborhood you’re interested in poised to regain value quickly when the real estate market rebounds? Recovery speed could be an important consideration if you plan to stay in the home only a few years. If you’re in the home for the long haul, you may be less concerned about how quickly home values in the neighborhood will improve.



This spring can be a great time to start fresh in a new home. To ensure you’re well-positioned to take advantage of the great housing deals, visit www.FreeCreditReport.com first to learn about your free credit report.



Courtesy of ARAcontent

Home Inspection Helps Ensure Dream Deals Don’t Turn into Nightmares

(ARA)  - You found your dream deal on a foreclosed home, but will that great price tag come with a different kind of higher cost? Buying a repossessed property, short sale or a home offered at a bargain price -- because of its condition -- can mean you’re assuming much higher risks.



Repossessed and short sale homes are often abandoned and neglected, leaving them with  much more potential for unforeseen structural defects, plumbing, electrical, heating systems, environmental issues and many other problems. Fixing these woes can cost far more than the financial savings from a distressed property purchase. There also may be unknown defects, such as mold or radon, that could affect your family’s health and safety.  



Still, it is possible to get a dream deal on a distressed home. Before you sign on the dotted line, be sure to have the house thoroughly inspected by a professional, so you can reduce these potential risks as well as financial costs. A home inspector can help you identify potential problems in the home you’re considering buying, so you know in advance what you’re getting into -- and what you should walk away from.



There are many ways to find a home inspector, including consulting family, friends, your attorney, real estate professional or mortgage professional. You can also find information on inspectors across the country on www.ashi.org, the Web site of The American Society of Home Inspectors, the organization that sets the standards of practice for the inspection industry.



Homebuyers aren’t the only ones who can benefit from a home inspection. If you’re selling your home, having it inspected before you list it may help sell your home in less time and for more money.  Moreover, homeowners can benefit from maintenance inspections, such as an energy inspection, which can help reduce monthly energy costs, and a home safety inspection that can help seniors stay in their homes longer.



* Ask the inspector how he operates.  What format will the report be in? Ask for sample reports.



* Talk with each candidate to see who is the best fit for your needs and comfort, as well as for the property being inspected.



* Check all references. Don’t automatically go with the lowest price. Remember, the old adage is often true -- you get what you pay for.



* Attend the inspection to ensure you get the best value -- and most information -- for your investment.



A home inspector can be your best ally in ensuring your dream deal doesn’t turn into a nightmare. Visit www.ashi.org and take the Virtual Home Inspector Tour to see and hear more about home inspections.



Courtesy of ARAcontent

Home Purchase: Deal or No Deal?

Deal. If you are contemplating buying a home, now may be the perfect time to make a purchase -- if you have the money and a secure job.

Real estate sales have sagged in many parts of the country as buyers have been frozen in the headlights of the economic downturn. As a result, prices are falling in many markets.

"If I could buy real estate right now, I would," says Amy Bonis, a certified mortgage planner with Alera Financial in Raleigh, N.C. "It's clearly a buyer's market. If you can buy a house that is undervalued, it's like, what shade of green do you want?"

In addition, mortgage rates have fallen near historic lows, substantially reducing the cost of financing for buyers with good credit.

Bonis says buyers who act now rather than wait are likely to see the best return.

"Somebody has to start buying, and when they do, there are going to be more buyers on the market, which is going to cause home prices to go up," she says. "When you stimulate home prices to go up, that affects the economy in a positive way, which raises interest rates. What people don't realize is, by the time they hear that things are better, (their opportunity) is already gone."


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How to Use the Internet to Save Money

(ARA) - Cutting costs, pinching pennies, shopping smarter -- more and more people are reacting to the current economic crisis by changing how and where they spend money. For some people, it may mean fewer restaurant dinners and more home cooking. Others are making bigger changes to save a few dollars and gain control of their finances.



Not every adjustment has to be dramatic, however. There are ways to save significant amounts of money without leaving the house -- or even getting out of bed. With more than 84 million people having broadband Internet access at home, according to the Pew Internet & American Life Project, a few mouse clicks can easily benefit your wallet.



The Internet has changed the way people communicate, discover and engage with others. It has also changed the way people manage their money. People regularly bank, trade, do business and shop online. Today, 40 percent of U.S. households bank online -- one-third more than in 2003 -- according to financial consulting firm TowerGroup. According to the Nielsen Global Online Survey, in 2008, more than 85 percent of the world’s online population has used the Internet to make a purchase -- up 40 percent from 2005.



“The price you pay for the things you need is not set in stone,” says Paul Ford, CEO of NetQuote.com. “Insurance, for example, is one of the biggest non-discretionary expenses for any family. What most people don’t realize is that you can -- and should -- shop around for insurance just like you shop around for a car or a house. With the technology available today, it’s easier than you might think.”



Here are just a few ways that consumers can use the Internet to take some pressure off their pocketbooks.



Check online for coupons and promotional codes.

In lieu of eating out frequently, many people are doing more grocery shopping and cooking at home. Many major grocery stores post coupons, offers and other promotions online that can easily lead to increased savings in a fraction of the time it takes to clip coupons in the traditional sense. Likewise, many online retailers circulate "promo codes" that can be redeemed at checkout for additional savings. Before completing an online purchase checkout, do a quick Internet search. Visit sites like www.RetailMeNot.com or www.CouponCabin.com to save.



Shop around for insurance quotes.

Insurance, whether for your car, home, health or business is something most people cannot go without. However, many people never think to shop around for a better insurance quote because they see insurance as an expense that isn’t negotiable, or they think they’re stuck in their current policy until it runs out. This is simply not the case. People can switch at any point in their policy, without penalty, and can often find a better deal by shopping around. Better yet, people can use quote-shopping sites, such as www.NetQuote.com, and receive insurance quotes from multiple interested agents without the hassle of filling out multiple requests. It can be a simple way to greatly reduce the amount people pay for insurance. After all, if you have to pay for it anyway, you may as well get the best deal you can.



Save on gas by mapping out travel routes.

Instead of taking the same route to work, friends’ houses or places of interest, consider mapping out a more cost-effective route by using online mapping services. The less time you spend driving from point A to point B, the less you’ll have to spend on gas. Web sites such as www.Mapquest.com or GoogleMaps can change the way you travel and how much it costs to get there. You might find a time-saving shortcut that you never knew existed.



Don’t waste money on the wrong products -- read reviews first.

Almost every online retailer features customer reviews and ratings for each of their products. If you must make a large purchase, there can be immense benefit in taking the time to read what other people are saying about that product before you buy. Consider checking out www.Epinions.com or www.ConsumerSearch.com. If the buzz indicates that a particular product is not worth the money -- or that a similar product does the same thing for less -- reconsider the purchase and look into other options. And if you happen to find what you’re looking for, check out the sites listed above for promotional codes.



People can get very creative when it comes to shaving a few pennies off their expenses. Before resorting to dramatic, cumbersome methods of saving money, explore the options above and other innovative ways the Web can be a tool for reducing your financial burden.



Courtesy of ARAcontent