Buying A Second Home

Buying a second home - should you or shouldn't you - that is the question.  Well, buying a second home could very well be the absolute best thing you have ever done but you have to do it for the right reasons.  Let's talk about a few of the things you need to consider before making any quick decisions.

First you must ask yourself why you want to purchase a second home.  Is it to invest in your future?  Is it to use for a vacation home?  Are you doing it for an additional income?  The answer to these questions is critical so let's look at all of the facts.

If you are buying a second home as rental property to use as part of your retirement plan then you have made the right decision.  Buying a home forces you to make regular savings in the form of a mortgage payment each month and that is money in the bank when it comes to a retirement fund.

You must make sure,however, that you have enough money to cover the mortgage payments plus any additional expenses such as repairs, yearly taxes and insurance, if they are not a part of your mortgage payment, and anything else that may arise.  The good news is if you buy the right house at the right price, your rental property should always stay rented.

Another reason a second home as part of your retirement plan is a good idea is due to the fact that your investment money is subject to less income tax and the interest and taxes may be deductible.   So planning ahead could pay off in a big way.

Housing, for the most part, appreciates over time.  There are definitely ups and downs in the housing market but buying a home is a long term investment that can ride those tides very well.  A home is an inflation proof investment.

The experts have predicted that both fixed rate and adjustable rate mortgages will probably remain in the single digits for the foreseeable future.  Therefore, financing a home with a nominal down payment should remain achievable for quite some time.

Buying a home is very exciting and can be a very profitable experience but your decision cannot be made lightly.  It is wise to give a lot of thought to why you want a second home, then make a financial plan and stick to it.

If you have some disposable income, then purchasing a vacation home may be just what you need to add a little spice to your life.  Then by all means, go ahead and find the perfect house, buy it and enjoy.

Whatever the reason you want or need a second home, please think about your reasons, make a plan and follow through.  It is also advisable to talk to a real estate agent about all of your options before diving in.  A real estate agent can help you make the best decisions and could potentially save you thousands of dollars in the long run.

5 Tips to Make Summer Home Renovations Pay Off

NEW YORK (MainStreet)—Younger homeowners are likely planning renovations this summer, according to a new study, with some improvements benefiting property values more than others.

The Zillow Digs Summer Home Improvement Trend and Spending survey found that 71% of those aged 18 to 34 plan a home improvement or addition compared to 51% of homeowners 55 and older.

The survey found that 40% plan to work on their outdoor spaces while 17 percent plan to improve their bathrooms.

"As we head into the long days of summer, we are seeing increased interest in outdoor spaces with very natural elements such as stone fireplaces as well as bringing more light into bathrooms with clear glass on the walls and shower enclosures," said Cynthia Nowak, a trend expert with Zillow Digs.

Overall, 60% of American homeowners plan renovations and expect to spend $1,200 with 65% of homes housing children planning three or more home improvements compared to 57% of homes without children.

But not all home improvements pay off and positively impact property values, according to the Appraisal Institute, a professional association of real estate appraisers.

Siding replacement, entry door replacement, attic bedroom addition, minor kitchen remodel and garage door replacement rank among the projects with the highest expected return on investment, according to Remodeling magazine's most recent Cost vs. Value report.

"Projects that take a home significantly beyond community norms are often not worth the cost when the owner sells the home," said Appraisal Institute President Richard L. Borges. "If they don't match what's standard in a community, they're considered excessive."

Other renovations with high expected pay-offs include basement remodel, deck addition and window replacement.

"Consumers should be aware that cost does not necessarily equal value," Borges said.

Below are 5 tips to consider before launching home renovations:

• 1. Arrange a feasibility study for an unbiased evaluation. "During a feasibility study, a professional real estate appraiser will analyze the homeowner's property, weigh the cost of rehabilitation and provide an estimate of the property's value before and after the improvement," said Borges.
• 2. Add green and energy-efficient renovations. "Adding Energy Star appliances and extra insulation are likely to pay the homeowner back in lowered utility bills relatively quickly. Lower utility costs also are a draw for potential homebuyers," said Borges.
• 3. The longer a homeowner stays in a property, the greater the opportunity for a return on investment As a result, Borges advises holding off on big renovations when a homeowner isn't sure how long they will be in their home.
• 4. Check online for home renovation ideas. About 37 percent of homeowners look to the internet for home improvement ideas and inspiration, according to the Zillow Digs survey. HGTV.com, Pinterest and Zillow Digs were among the most common online sources for inspiration.
• 5. Download the Appraisal Institute's free Remodeling & Rehabbing brochure at www.appraisalinstitute.org

--Written by Juliette Fairley for MainStreet

Realtor.com's April Report Shows Boost in Market

Realtor.com®, a leader in online real estate operated by Move, Inc., released its April data showing that the U.S. housing market is on its way to a broad-based recovery, an accelerated trend since March. The home-buying season shifted into high gear last month as inventory and home list prices on realtor.com® increased by 4.12 percent and 2.63 percent, month over month, respectively. As of April, homes are on the market 
nationwide approximately 81 days—a decrease of nearly 11 percent since April 2012—highlighting that while new homes are entering the market they are not available for long.

“Due to increased demand for homes and more confidence in the job market—we are beginning to see more and more buyers entering the housing market,” says Steve Berkowitz, chief executive officer of Move. “Home buying season is off to a strong start, as buyers capitalize on moderate housing prices and snatch up homes quickly. In some markets, we are seeing homes staying on the market for only a few weeks.”

Despite the increase in inventory month over month, nationwide inventory declined year over year in all but 11 of the 146 markets realtor.com® monitors. Approximately 36 markets registered a decrease of listings by 20 percent or more, still highlighting near records lows of available homes.

Approximately 37 markets experienced a decline in list price since last year, a figure that has been improving throughout the home buying season. The number of markets throughout the nation experiencing a steady or slight decline in median list prices is decreasing throughout the home buying season, another positive signal for the overall housing market recovery. In April, median list prices increased in 109 markets.

National Data

- In April, the total number of single-family homes, condos, townhomes and co-ops for sale in the U.S. (1,750,839) increased by 4.12 percent month-over-month. On an annual basis, however, inventory decreased by 13.54 percent.

- The national median list price for single-family homes, condos, townhomes and co-ops ($194,900) increased by 2.63 percent vs. March, and 3.12 percent since April last year.

- The median age of inventory of for sale listings (81) fell by nearly 11 percent in comparison to April last year.

Local Data

- Only seven markets throughout the nation experienced a one percent or greater year on year increase in housing inventory since April 2012. The Shreveport-Bossier City, LA market lead the pack with an increase of inventory of 19.16 percent since April last year.

- California continues to dominate the top 10 list of markets with the largest increase in median list price throughout the nation—only two regions in the list fall outside of California. These markets were hit the strongest by the housing crisis and are showing a great rebound as the housing recovery picks up steam. Oakland experienced the largest year over year increase in list price at 46.94 percent. The Santa Barbara-Santa Maria-Lompoc, Calif. market followed at 44.81 percent. Sacramento, Calif.; San Jose, CA; Los Angeles-Long Beach, Calif.; Orange County, Calif.; Detroit, Mich.; Ventura, Calif.; Fresno, Calif.; and Phoenix-Mesa, Ariz. rounded out the top markets with the largest increases in list prices in the nation.

Housing is in Bloom

The nation's housing sector is buzzing like bees in springtime. And indeed, housing has historically boosted the U.S. Gross Domestic Product (GDP) and job creation, which are key stimulators and indicators of economic health. 

When GDP is referenced in news media, it means the total goods and services produced by labor and property in the U.S. This figure is measured quarterly, and recent figures show that GDP increased impressively at 3.1 percent in the 1st quarter of 2013, up from 0.4 percent in the last quarter of 2012. 

Sales of previously-owned houses increased three straight months in March, rising 0.4 percent to a 5 million annualized rate, its highest level since late 2009, then took a small dip in late April by 0.6 percent to 4.92 million units. During this time, new home sales maintained an upward climb by 1.5 percent within expectations to 416,000. Analysts say housing could provide tailwinds strong enough to realize the improvement to the labor market for which the folks at the Fed are hoping. The Fed (which sets the U.S. monetary policy by monitoring national employment, prices and interest rates) recently noted that inflation also remains in check. 

Homebuilders across the nation have contributed to the increase in Housing Starts, up a whopping 47 percent over the same period last year. At their highest since June 2008, Housing Starts spiked by 7 percent this March to 1.036 million units on an annualized basis, well above the 930,000 expected, though they did decline in April. Gains in home prices and construction will put more Americans to work this year, and that's good news overall for the health of the U.S. economy.

10 Decorating Tips for A Stress-Free Home

Create a Clutter Free Environment-

Most people tend to store stuff they don’t really need such as piles of newspapers or trash bags full of garbage or outgrown clothes. Take a little time to designate a specific area or container for items that need to be taken out of the house and another container for you to place items that you bring home. Do you really need a lot of end tables and clutter in your living room? If you confined, then you most likely will feel stressed. Also, re-arrange areas that limit your walking ability such as a coffee table that fits close up to your couch. You will lessen the chance of stubbing your toes while trying to relax.

Have Less Lighting-
Everyone knows that low lighting can be more relaxing. Rather than have a bright overhead light on in your living room or bedroom, bring in a few lamps to place around the room. You will instantly feel more at ease thanks to the softer glow of lamp lights.

Be Less Bold in Your Color Choice-
If you truly want a relaxing stress-free home to come home to then you should consider keeping bright colors and bold patterns to a minimum. If you want to add a little color that is fine, a bright red throw pillow or something on the couch is fine, but your walls should be painted a more neutral earthy tone. If your eyes are busy focusing on all the bright colors in the room, you will have a harder time relaxing. If painting a room isn’t something you want to do, then focus more on pale colored lamp shades, throw pillows, and other decorative items.

Express the Nature Lover in You-
One very important decorating tip for a stress-free home is nature and incorporating natural elements into your home. House plants, mirrors across from windows and natural landscape artwork will bring a relaxing and fresh feeling to any room inside your house.

Surround Yourself with Home-
You may also want to consider putting a favorite item such as an old cabinet with photos of your family on it, a vase of flowers etc. near your front door or the main area you walk into when you first get home. This will remind you that you are home as soon as you walk in the door and you will instantly feel more relaxed. This idea can also be incorporated into other areas of your home. It is always good to “feel at home”, your photos and other favorite things will emphasize the “home” feeling.

Say Good Night to Electronics-
If you have a TV in your bedroom or a computer that stays on all night or blinks while in standby mode, you are telling yourself to stay awake and not relax. This will increase your stress level throughout the night cause you didn’t get the sleep you should have and the next morning, you will start the day filled with tension.

Create Your Idea of Paradise-
In your bedroom, living room; bathroom, etc. wherever you want to feel at ease, surround yourself by the essence of paradise for yourself. If you love walking on the beach during the summer months, why not surround yourself with things that remind you of those long walks? If your idea of heaven is a mountainous terrain or a cabin in the woods, bring in rustic furniture or paintings of trees and mountains, gentle streams, etc.

Pets Help with Relaxing-
Incorporating a fish tank into your home will also serve to create a stress-free area. You will enjoy sitting back watching your fish swim around their tank and it will calm you. If space allows, other pets can relax you as well. Everyone loves to come home to a welcoming committee and your beloved dog or cat can do as much for you as your spouse and children
A Corner for Yourself-
Create a corner or a special area inside your home for you to go to when you need a moment to unwind. This can be in the bedroom or a spot in the living room. Tell your kids that when you are in this area that you are taking time to relax and ask them to not bother you while you are there.

Natural Lighting Sooths the Soul-
Eliminate the dark window blinds and curtains in your home, even in the bedroom. You will feel more at ease and peaceful waking up to natural light coming in the windows. You will also be more willing to wake up when the alarm clock starts buzzing because your body will see the morning light and take it as a clue to get the day going.

When considering all the tips for decorating stress-free home, it can be as simple or as complicated as you want. Nothing has to cost you a fortune and there is nothing you shouldn’t do while creating your haven as long as you feel relaxed when you’re surrounded by it.

Author Bio- This post has been written by Tresssy Jones. She loves to write about Home Improvement. She is evangelist at Atlanta Ductless Air Conditioning. They provide best heating and air conditioning services.

Celebrating Earth Day

Happy Earth Day!
What does this mean for you and your household. It can simply mean turning off the lights when there not in use, or don't keep the water running when not being used. Today you can make the decision to go a little more green and save money along the way, here are some household tips to achieve that: 

Power off

• The screensaver on your computer uses the same amount of power as when it's on and being used. Switch your PC off if you're going to be away for a while.
• Turn down your water heater. By lowering the temperature on your water heater from 140 to 120 degrees will reduce your water heating costs by 6-10%
• 50-70% of a household energy costs come from heating & cooling according to the Department of Energy.
• Installing a programmable thermostat will save you approximetly $150 a year.
• Aim for 78 degrees of higher when you are at home while reducing your cooling loads 10-20%. When you are away from home make it 85 degrees, and save an additional 5-12%.
• In cold weather for every degree you lower the thermostat you will save between 1 and 3% of your heating bill. 

Unplug

• Unplug unused chargers, plugged in cellphones, laptops or anything for that matter. Americans throw away about 8% of our annual electric bill from having objects just simply plugged in.

• The easiest way to save is to buy a surge protector that can plug in multiple units, that way you can turn off more than one charger in one switch.

Light Fixtures

• Install CFL's, the spiral-shaped bulbs known as compact fluorescents use less than a third of the energy regular bulbs use and last 10x longer. 
• If every household in the U.S. replaced just on regular bulb with a CFL, the amount of energy saved could light 2.5 million homes for a year.

Water Fixtures

• Buy low-flow toilets, they use less than a gallon of water, brands such as American Standard, Toto and Kohler. Toilets used to use about 5 gallons per flush, so if your toilet is outdated it may be time to make this change.
• Buy low-flow shower heads, which can decrease water usage by 50-70%. They only cost about $8
•  install low-flow faucets.
• Wash clothes in cold water whenever possible. As much as 85 percent of the energy used to machine-wash clothes goes to heating the water.
• Use a drying rack or clothesline to save the energy otherwise used during machine drying.

Upgrade to Energy Star Appliances

• Look for the blue and white label which means the item uses at least 10-50% more efficient than standard models. more than 18,000 products have the Energy Star design.

Other

• Use a water filter to purify tap water instead of buying bottled water. It will save you money & help you live a more green lifestyle.
• Bring a reusable water bottle, preferably aluminum rather than plastic, with you when traveling or at work.

By making these small changes you can save money & make for a cleaner earth one household at a time

10 Home Maintenance Tips for Spring

Here are some great tips for home maintenance by MyBlogGuest

Roof Inspection-
It is very important to make sure that you visit the roof of your house and inspect it to see what needs to be done. If you find yourself uncomfortable with climbing up, you can hire a contractor to carry out the inspection on your behalf. The most critical areas to look for are the places where the roof connects with walls and condition of the shingles. If you see any damage, make an effort to repair those areas.

Inspect downspouts and gutters-
When inspecting these two areas, the most critical places to check are where fasteners have been used as they tend to get lose during winter. Once they get lose, the gutter run sags and this is what you need to repair.

Inspect gates and fences-
The ground becomes too wet during winter, the soil becomes lose and this means that the posts used to support the fence will wiggle. As you go along the fence, shake each individual post to see how firm it is. If weak, wait till the ground dries and add concrete to give more support and all should be well.

Cleaning the yard-
The yard does not sustain so much damage other than dirt accumulation and this is what you need to deal with. If you have trees in the yard, note if there are any broken branches than trim them off. Collect all dirt in the yard and dispose of all the dry leaves fallen from the trees.

Air conditioners and fans-
For the fans, check to make sure that no water leaked to them and it is always wise to uncover them and clean them. For the air conditioners, they should be inspected just to make sure that no debris found its way to their interior as it would damage the delicate machines. Should any be found, immediate removal is recommended.

The sprinklers-
Turn the sprinklers on and let them complete one or two cycles and watch how they are behaving. You will no doubt note that some water is hitting the wrong places and these are the sprinklers that need to be adjusted. In some cases, all they have is a bit of dirt and removing the dirt will set them back to normal working condition. Any damaged ones should be replaced.

Faucet covers and vent blocks-
Once the harsh winter is gone; open up the faucet covers and vent blocks to see if the winter did any damage. The main thing to look for is whether the vent blocks allowed any water to get in and if so, take measures to restore it to its normal state.

Check the yard tools-
There are so many yard tools that need to be inspected and repaired to make sure they are ready for service during the summer. The good news is that not much has to be done and all you need to do is fasten them, sharpen the cutting ones and power the electric ones to confirm they are still working. Any damaged ones should be repaired.

Furnace filters-
During winter, you most likely used a lot of heating and this means that the furnace filters are full of smoke. If you have a centralized air conditioning system; it is also possible to find the filters full of dust. These are the two reasons that make it very necessary to change the filters as summer begins.

Inspect smoke detectors-
It is important to make sure that winter did not freeze your smoke detectors. Take some time and check their covers and batteries, power them on to see that they are working and you are done with getting your home ready for summer.