Five Surprising Reasons to Buy a Home Now + Bonus

I must say this is a great post from forsalebyowner.com, step #6 would be to hire an agent to represent you. (Seller or Buyer Agent).

1. Low mortgage rates serve as an equity shock absorber. When buyers borrow at today's record-low rates, they start building equity as soon as they close. That means they can absorb a few ups and downs as the still-recovering housing market gains traction.

2. Houses are in move-in condition. Home owners have continued to spend on maintenance and repair, according to the Harvard Joint Center on Housing. As these houses enter the market, they are in marked contrast to tattered foreclosures.

3. Terrific houses are coming on the market. Foreclosures are finally starting to clear the system, and they are being replaced by some very attractive properties.

4. Appraisal regulations are finally aligned with market realities. Fannie Mae has adjusted its appraisal guidelines, giving appraisers more flexibility to set values that reflect the current market.

5. Plenty of programs. Many programs that encourage middle-class families to buy homes continue to exist, despite market downturns. Buyers who qualify can get a big boost by combining one of these programs with today's low mortgage rates.

Source: ForSaleByOwner.com (07/29/2010)

Affordable housing and you

Real estate in Texas
The term affordable housing can mean many things. In Austin, for example, it could mean any single-family home that sells for under $200,000. In other areas of Texas, affordable housing might mean a $75,000 home.

Statewide, Texas REALTORS® help countless fellow Texans experience the benefits of homeownership, regardless of where you live or how much money you make. In addition, many Texas REALTORS® participate in specialized training to better equip themselves for helping first-time homebuyers.

Options abound for Texans who want to own their own home, but who might be strapped for cash or have yet to establish their credit. One is the Texas First Time Home Buyer Program, sponsored by the Texas Department of Housing & Community Affairs (TDHCA). It offers below-market mortgage interest rates for first-time buyers.

The Texas Veterans Land Board has a variety of attractive home-purchase programs for Texas military veterans and their spouses.

Source:TexasRealEstate.com

Color trends for 2010

2010 color decor and design trends: influenced by life's richness



(ARA) - Indicators are implying that the U.S. economy is finally showing some signs of improvement. The markets are rising, and overall consumer confidence goes up every day. To the relief of people across the country, one area that is at last seeing some light at the end of the tunnel is the housing market.



As the economy stabilizes, homeowners are expected to begin investing more money into their homes, particularly the aesthetics of their homes. But the recession did have a profound impact on the manner in which people approach design and decor.



In economically prosperous times, design and color trends tend to be heavily influenced by tangible, worldly items that are created or manufactured by people and businesses. These items represent the more affluent lifestyles we enjoy during those times.



Correspondingly, during more difficult time periods, design influence returns to holistic, spiritual and simplistic elements that represent the richness of life that abounds in nature, relationships and spirituality.



This year's color trends are rooted in that richness, says Dutch Boy Color Marketing and Design Manager Donna Schroeder.



"Colors that provide hope and affirmation that the greater economic market will continue to improve are at the forefront of decor for 2010," Schroeder says. "People are much more introspective about color this year and will be painting in a way that not only is aesthetically pleasing, but also 'saturates the senses' and is reflective of a society eager to reconnect with education, nature, spirituality and world culture."



According to Schroeder, Dutch Boy's 2010 design trends have been categorized into four different "personalities." These "personality" palettes are composed of colors that embody a homeowner's personal style and taste. Each of the trend personalities, along with images of the paint colors, can be found at www.DutchBoy.com.



Purist

This trend reflects the elements of nature: colors of branches, grasses and dark earth underneath the feet. It's a soothing relief. A retreat from the hectic. It's terra firma ... brought indoors. Purists are concerned about their impact on the world and care deeply about finding balance. Purist colors are natural shades of herbal teas, the stones in the river as the water rushes over them, and the yellow-green of buds as they push up through the springtime earth.



Colors in the Purist palette include: Urban Nature, Naturalist Stone, Lemon Balm, Gingered Root, Catalyst Steel, Natural Canvas, Repurposed and Budding Fern.



Seeker

Seeker goes beyond the ordinary to showcase shades brought forth by history and architecture. Rich, complex hues give this color personality rooms that have a carefully curated, beautifully symbolic touch. What matters to a Seeker is creating meaning, spirituality and beauty in life. Colorful objects made of precise, hexagonal tiles to stylized, architectural furniture are quintessential to the Seeker.



Colors in the Seeker palette include: Antique Rosewood, Medieval Cloverleaf, Olde Stone, Soul-Quenching, Alabaster Frame, Kimono Red, Crossing Midnight and Cathedral Gray.



Muse

Muse is a palette that's all about feeling and experiencing. These are colors that swaddle and soothe the soul. It's a color style that reflects the need for sanctuary. Attention to design detail and just the right sensory colors bring Muse to life. This palette is infused with, and inspires, rich details, fine fabrics and soft twilight shades of blush pinks, rosy peach and lilac.



Colors in the Muse palette include: Quiet Drizzle, Aroma Garden, Melodious Peach, Silken Raspberry, Blossomed Lilac, Composed Bloom, Nightingale's Song and Meadow Pear.



Storyteller

The Storyteller collection shows off color that reflects a life well-lived through traveling and varied interests. Furniture and colors from afar add a vibrant touch to the home and bring life to tales from foreign lands. Everything a Storyteller sees in her travels inspires her home design and color choices. The Storyteller is an experiential explorer.



Colors in the Storyteller palette include: Grecian Sea, Edge of Time, Narrative Cream, Clementine Tart, Journey's End, Treaded Grapes, Wide Open Sky and Spanish Door.



Though these four trend personalities will certainly be prolific this year, many people will combine the four palettes and blend them all into distinctive personalities. Recognizing this, Dutch Boy has collected a "Blend" palette.  What colors are in this palette? All of them.



Blend is exciting, eclectic and adventurous. Blend is, appropriately, a blending combination of two or more of the previous four trends. A person with a Blend personality has a home that is a reflection of the owner's many moods and styles. An airy, light-filled room might be held to earth by chunky furniture or given flight with watercolor prints. Blend personalities could have a Muse kitchen, Storyteller family room, and a combined Purist and Seeker dining room. Coexistence is at the heart of the Blend personality.







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)

A Historic Time to Buy

Young people just starting to invest and buying their first homes are potentially the winners in this recession.

First-time homebuyers, most between the ages of 25 and 45, accounted for about 45 percent of home sales from January through July 2009, according to the National Association of REALTORS®

"This is a historic time," says George Jaramillo, a 35-year-old business analyst in Atlanta, who recently bought three homes, two of them foreclosures. "It's a great opportunity to make some great gains in the future."

A study by investment company T. Rowe Price points out that investing when prices are low can result in amazing gains. For instance, between 1970 and 1990, the annualized rate of return for the S&P 500 was 11.5 percent.

"We need to be shouting from the rooftops that this is not the time to get out of the market if you're young," says Christine Fahlund, a senior financial planner with T. Rowe Price. "This is the time to be in the market."

Source: The Associated Press, Chip Cutter

Lower your energy costs with an insulated garage door

(ARA) - A leaky, un-insulated garage door may not be an obvious culprit in rising monthly utility bills, but it’s worth a second look if you have an attached garage.



Replacing an older garage door with a new, energy-efficient model can reduce energy loss through the garage door by up to 71 percent, according to a comparison study conducted by Clopay engineers.



“Since attached garages typically share one or two common walls with the house, any hot or cold that travels through a door will ultimately affect the adjacent living areas,” says Mark Westerfield, director of product development for garage door manufacturer Clopay Building Products. “An insulated garage door can help stabilize temperatures in the garage to reduce heat losses or gains from common house walls.”



Depending on the specifics of your home and attached garage construction, a well-insulated door can help keep your unheated garage 10 to 20 degrees warmer on a cold winter day. “That can have a significant impact on the comfort of family rooms or bedrooms located above or next to the garage,” says Westerfield.



Homeowners who purchase an energy-efficient garage door now through Dec. 31, 2010, will not only save on their heating and cooling bills, they may qualify for up to $1,500 in federal tax credits, thanks to the new stimulus legislation. Certain criteria apply.


Helpful tips

More than 40 percent of the current housing stock was built prior to the era of energy efficiency, according to a report by The Joint Center for Housing Studies of Harvard University. If your garage door is a hold-over from the dark ages, here are some things to look for when making an upgrade:



* Two inch-thick, three-layer "sandwich” construction including environmentally safe, chlorofluorocarbon-free insulation layered between two sheets of heavy-duty galvanized steel.



* R-value or U-factor – these are measurements of the thermal efficiency of a door’s insulation. The higher the R-value, or the lower the U-factor, the more energy-efficient the insulation.



* Energy Tax Credit eligible – available for garage doors with a minimum factor of 0.30 installed on a homeowner’s primary residence.



* Insulation type – There are two different types of insulation used in garage doors; expanded polystyrene and polyurethane. Doors constructed using either kind qualify for the Energy Tax credit, and both are strong and durable.



* Design – Get the most out of your garage door upgrade. Choose a model that complements your home’s architectural style.



Courtesy of ARAcontent

1st Time Homeowners: Cleaning House

First time homeowners: Clean house naturally with inexpensive improvements



(ARA) – You narrowed the long house-hunting search down to your favorite option, made an offer the homeowners couldn’t refuse, and are well-positioned to take advantage of that $8,000 first-time home buyer federal housing tax credit. All that’s left to do is move in.



But the excitement of making a home your own can dim the first time you open a cabinet door or look in the oven to realize not everyone shares the same commitment to good housekeeping.



Whether cleaning your new home before moving in, or looking for a way to juggle the increase in housework that comes when you move from an apartment to a larger condo or single-family home, tidying up your environment doesn’t have to be a tough or expensive task. Moving into a new place is a great time to start fresh, breaking out of old routines and trying different things, including living a more natural lifestyle at home.



“Moving into a new home can be exciting and overwhelming at the same time, but a few simple steps can ease the transition,” says Jen Singer, family lifestyle expert. “Think of it as a clean slate for your family, regardless of whether someone previously lived there.”



Start off fresh



It’s the dirty little secret of home buying – sometimes the previous owners leave a mess behind when they move out. “Even if they don’t leave a mess, you’ll still want to give your new home a good cleaning so it truly feels like you’re making a fresh start,” Singer says.



Before you settle into your new home, dust, mop and scrub everything from the ceiling to the floor. It’ll save you from feeling like you’re living in someone else’s dirt, and give you a brand new start in your new home.



Divvy the chores



You may love the fact that your new home affords you more living space, but with more space comes more chores. Start out by fairly distributing chores among family members.



“It might be fun to play with your new washing machine now, but doing all the laundry all the time will get old fast,” Singer says. “So task your spouse with grabbing a natural laundry stain remover that cleans powerfully to tackle tough stains, such as Nature’s Source Laundry Stain Remover by Shout. The line also has other natural cleaners I like to use for other chores around the home by trusted brands including Windex and Scrubbing Bubbles. They contain 99 percent or more natural ingredients; and they are affordable and available in many grocery and mass merchandise stores.”



Conquer clutter ... before it starts



It’s an unwritten law of physics – when you move into a bigger place, your furniture, clothes and other things multiply to take up all the new space. More space and more stuff can add up to clutter and ultimately, more waste.



“Resist the urge to fill your closets and counters with new things,” Singer warns. “Instead, look at new ways of using pieces you already own.”



Another clutter-cutting tactic – if you just moved boxes that you packed two moves ago and haven’t unpacked since, get rid of them. “You may not even want to open them before donating or recycling them,” Singer suggests. “After all, whatever is in them is something you’ve done just fine without for quite a while.”



Personalize with paint



Even if the sellers of your new home put a fresh coat of paint throughout the house before they left, repainting is an easy, inexpensive way to personalize your environment. “Don’t be afraid to pick colors that are a shade darker than you’d normally go for. You’ll be surprised to find how it can show off your personal style,” Singer says.



In keeping with your commitment to live naturally, look for low VOC paints, especially if you’re repainting in the winter when ventilation will be limited.



To learn more about natural living tips, visit www.NaturesSourceCleaners.com.



Courtesy of ARAcontent

July new US home sales up 9.6 percent

WASHINGTON (AP) -- New U.S. home sales surged 9.6 percent in July, rising for the fourth straight month and beating expectations as the housing market marches steadily back from its historic downturn.

The Commerce Department said Wednesday that sales rose to a seasonally adjusted annual rate of 433,000 from an upwardly revised June rate of 395,000. Sales are now up more than 30 percent from the bottom in January, but are still off nearly percent from the frenzied peak four years ago.

The median sales price of $210,100, however, was off 11.5 percent from year-ago levels and down slightly from $221,400 in June.

Last month's sales pace was the strongest since September and exceeded the forecasts of economists surveyed by Thomson Reuters, who expected a pace of 390,000 units.
In a kind of Cash for Clunkers effect, homebuyers are rushing to take advantage of a federal tax credit that covers 10 percent of the home price, or up to $8,000, for first-time owners. Home sales must be completed by the end of November for buyers to qualify.

Builders and real estate agents are pressing Congress for that credit to be extended. If it isn't, sales could reverse their upward trend.
As sales rise, that's likely to make builders more confident about getting going on new projects, and that's likely to lead to more jobs ins the construction industry. "These are crucial elements of a sustainable recovery," David Resler, chief economist at Nomura Securities, wrote in a research note.

Each new home built creates, on average, the equivalent of three jobs lasting one year and generates about $90,000 in taxes paid to local and federal authorities, according to the National Association of Home Builders.

There were 271,000 new homes for sale at the end of July, down more than 3 percent from May. At the current sales pace, that represents 7.5 months of supply - the lowest since April 2007. The decline means builders have scaled back construction to the point where supply and demand are coming into balance.

Courtesy of:
By ALAN ZIBEL
AP Real Estate Writer Aug 26, 11:19 AM EDT
© 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our Privacy Policy.

Mortgage Applications Rise on Falling Rates

Mortgage applications bounced back last week with the Mortgage Bankers Association market index rising 5.6 percent on a seasonally adjusted basis compared to the previous week.

On an unadjusted basis, the index increased 4.8 percent and was up 25 percent compared with the same week a year ago.

The recent seesaw of mortgage rates has affected refinances more than purchases. The refinance index rose 6.9 percent last week after falling 7.2 percent the previous week, reflecting declining mortgage rates. The purchase index, which has trended upward gradually, rose 3.9 percent.

Here are the average performances of mortgage rates this week:

30-year fixed-rate mortgages decreased to 5.15 percent from 5.38 percent.
15-year fixed-rate mortgages decreased to 4.52 percent from 4.71 percent.
1-year ARMs decreased to 6.66 percent from 6.71 percent.

Source: Mortgage Bankers Association (08/19/2009)

5 Things to do before Putting Your Home on the Market

1. Have a pre-sale home inspection. Be proactive by arranging for a pre-sale home inspection. An inspector will be able to give you a good indication of the trouble areas that will stand out to potential buyers, and you’ll be able to make repairs before open houses begin.

2. Organize and clean. Pare down clutter and pack up your least-used items, such as large blenders and other kitchen tools, out-of-season clothes, toys, and exercise equipment. Store items off-site or in boxes neatly arranged in the garage or basement. Clean the windows, carpets, walls, lighting fixtures, and baseboards to make the house shine.

3. Get replacement estimates. Do you have big-ticket items that are worn our or will need to be replaced soon, such your roof or carpeting? Get estimates on how much it would cost to replace them, even if you don’t plan to do it yourself. The figures will help buyers determine if they can afford the home, and will be handy when negotiations begin.

4. Find your warranties. Gather up the warranties, guarantees, and user manuals for the furnace, washer and dryer, dishwasher, and any other items that will remain with the house.

5. Spruce up the curb appeal. Pretend you’re a buyer and stand outside of your home. As you approach the front door, what is your impression of the property? Do the lawn and bushes look neatly manicured? Is the address clearly visible? Are pretty flowers or plants framing the entrance? Is the walkway free from cracks and impediments?

Source: REALTOR.com

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

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)

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.

Postal Stamps going up 2 cents!

WASHINGTON - Peel it and weep: It'll cost an extra 2 cents to mail a letter starting Monday.

The price of a first-class stamp will climb to 44 cents, though people who planned ahead and stocked up on Forever stamps will still be paying the lower rate.

It's the third year in a row that rates have gone up in May under a new system that allows annual increases as long as they don't exceed the rate of inflation for the year before.

Courtesy of Associated Press

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