Happy Holidays to Everyone

It’s that magical time of the year when everyone and everything has a focus on having a wonderful Holiday experience with friends and family.

I truly hope you all have a wonderful 2012!

Time to Update Your Kitchen – Some Points to Consider

Barbara Novitsky, ABR,ASP,CRIS,CRS, e-PRO,GREEN,GRI,SFR, SRES,REALTOR

At some point, everyone thinks about upgrades and Kitchens are no exception.  If you are considering an upgrade to your Kitchen, I urge you to do it after carefully considering current trends in design and decorating.  Trends are just that:  things that people do at specific points in time.  Keep in mind that trends change over time, so what’s “in style” now, may not be so in 5-10 years.  If you decide to upgrade, make sure you do so for you own benefit, not just to follow the crowd.  Of course, keeping within “norms” is important as you consider resale implications.  So, what are people thinking about trend-wise?  Here are a few points from an article written by Mary Beth Breckenridge for RISMedia.

Lighting

While lighting used to be a simple matter of function, it increasingly reflects the homeowner’s personality.  Natural lighting from windows, light tubes and skylights is becoming more popular; especially, in Green housing design.  Energy efficient LEDs are showing up in Kitchens in the form of under-counter lighting or recessed ceiling fixtures.  Layered lighting (e.g. ceiling fixture combined with under-counter lights) is also popular.

Refrigerators

Manufacturers are providing refrigerators that are less deep to make fitting in easier.  Counter-depth refrigerators are now available.  Extra space is also showing up in the form of drawer refrigerators to store things like vegetables closer to where they are most used.

Fresh, Clean Architecture

Ornate Kitchen designs (Tuscan, French Country, etc.) are losing ground to designs with less ornament ion.

Eat-in Kitchens

Bar-style counters remain popular; however, designs mimicking more of an extended counter form of table appear to be gaining acceptance.  This allows people to face each other, rather than simply eat next to one another.

Green & Sustainable Materials

Consumers are paying more attention to the materials used in Kitchens.  Cabinets with lower levels of volatile organic compounds (VOC) are rising in popularity, as are cabinets made joined dowels instead of glues containing formaldehyde.  The reason is simple: people want less indoor air pollution as a result of the Green movement.

Colors

A majority of people still gravitate toward neutral colors for the permanent Kitchen items: counter tops, cabinets and flooring.  Walls, on the other hand, are showing more bold hues.

Meet Me at the Bar

The bar used to be typical part of the Family or Recreation Rooms.  Lately, it has begun to show up in the Kitchen.  In some cases, Kitchen Desks are being replaced by bars to offer convenient storage.  Bar cabinets that appear as Pantries are also popular – some with built-in wine or beverage refrigerators, glassware storage or cutting boards.  Oh yes, bar sinks also.

Epilogue

Whatever your tastes, individualism should be reflected.  After all, it’s your Kitchen and the whole point of making changes is to satisfy your own desires.

Some "Hot" Ideas to Help You Stay Cool

Barbara Novitsky, ABR,ASP,CRIS,CRS, e-PRO,GREEN,GRI,SFR, SRES,REALTOR

It’s officially Summer and the outside temperature reflects the season.

Many parts of the United States are experiencing record temperatures.

So, what can you do to stay cooler in the midst of Summer?

Actually, there are a number of steps you can take to combat Summer heat.

Let’s get started:

Install a programmable thermostat and set the temperature to at least 78 degrees or higher while your home is unoccupied (e.g.: during the work day).

Change furnace filters monthly to maximize air flow.  Clean permanent filters on the same schedule if that is what you use.

Install and use ceiling fans to help circulate room air.

Change incandescent light bulbs and replace them with CFL or LED bulbs.

Have your HVAC system serviced, before Summer starts if possible, to ensure it operates at peak efficiency.

Check weather-stripping around doorways.  Lots of hot air can get inside when insufficient seals are present.

Run your bathroom fan while in the shower to reduce inside humidity.

Open vents wide on upper floors and close them in basement areas to maximize cool air flow to zones where heat is most likely.  Remember, hot air rises.

Make sure your attic fan is operating if you have one.  If not, consider one.

Ensure you have sufficient attic insulation for your area of the Country.

If you have recessed lighting on your upper levels, consider sealing them in the attic.  Make sure you have fixtures rated for direct contact with insulation before doing so.

Check weather seals around all windows.

For windows that receive direct sunshine, consider installing a reflective film to reduce the sun’s rays and subsequent heat.

There are many more things you can do to improve your indoor comfort.  One of the best is to schedule an Energy Audit for your house.  You’d be surprised to find out where air leaks are costing you money … and comfort.

I hope this list will help you get started on making your indoor spaces a cooler place to be during Summer.

Home Prices – Are We There Yet?

Barbara Novitsky, ABR,ASP,CRIS,CRS, e-PRO,GREEN,GRI,SFR, SRES,REALTOR

In April, U.S. home prices rose for the first time in eight months, according to data released on June 28, 2011 that may reflect more of the beginning of buying season.

Everyone wonders about when home prices will start to rise once again.  Could this be the time?

The S&P/Case-Shiller 20-city home price index seems to indicate some rationale for positive thinking.

Read more here:

Economic Report

Save Electricity the Easy Way

Barbara Novitsky, ABR,ASP,CRIS,CRS, e-PRO,GREEN,GRI,SFR, SRES,REALTOR

It’s that time of the month once again.  You know – when your utility bill arrives.  Do you dread opening that small envelope to see what monthly financial disaster may be lurking?  Don’t worry.  You’re not alone.

Many people are less than thrilled to receive their monthly electric utility bill.  Electricity costs are something we all need to think about; especially, with regard to what we can do to reduce consumption and save money.

Fortunately, there are a number of rather straightforward actions that you can take to reduce electric consumption and not turn life upside down.

Space heaters, ceiling fans, clothes lines, cold water washes and many other things can help with a small impact.  I’d like to point you at the web site of Michael Bluejay and his interesting ways to save electricity.

Check out the many techniques and use his handy cost calculators to estimate your results.

Simply go to:  http://michaelbluejay.com/electricity/ and scout around.  You’ll be glad you did.

Smart Growth Communities Preferred – NAR Study

Barbara Novitsky, ABR,ASP,CRIS,CRS, e-PRO,GREEN,GRI,SFR, SRES,REALTOR

The National Association of REALTORS® (NAR) hired Belden, Russonello and Stewart to conduct a special survey from February 15-24, 2011.  2,071 adult Americans participated in the survey.

Americans prefer to live in walkable, mixed-use neighborhoods.  The Community Preference Survey published by the NAR found that 56 percent of respondents preferred smart growth neighborhoods to those requiring a greater drive between home, work and recreation activities.

Additionally, many home buyers are now seeking walkable and transit-accessible communities.  Walkable communities are defined as communities where local businesses, restaurants, and shops are within normal walking distance from residential homes.  Walkability has become an important new consideration for Realtors as they seek to satisfy buyer needs.

77 percent of survey participants indicated that they would seek neighborhoods with plentiful sidewalks and pedestrian-friendly qualities.  50 percent also stated that they want improvements to existing transportation over initiatives to build new roads and developments.

One of the most interesting trends revealed by the survey was that many home buyers are willing to sacrifice home size (square footage) for less driving.  Surely this will be something to watch as fuel prices continue higher.  80 percent of respondents preferred to live in a single-family, detached home providing it did not require a longer commute.  Interestingly, if commute time were maintained at or less than 20 minutes, 59 percent of those surveyed would select a smaller home.

88 percent of those surveyed placed a greater emphasis on the quality of neighborhoods than home size.  77 percent stated a desire for communities with high-quality schools.

In real estate, trends are vital to understand.

For more in-depth information, read the survey at: Community Preference Survey

Thinking About Reducing Your Home Insurance Coverage

Barbara Novitsky, ABR,ASP,CRIS,CRS, e-PRO,GREEN,GRI,SFR, SRES,REALTOR

From time to time, we all look for ways to reduce our fixed costs.  One of the things that you may be considering is a reduction in home insurance coverage due to lowered home sale prices.

STOP!!

I’m not an insurance agent, but do want to share a few tips.  Reducing your coverage may end up costing you significant money in the event of a major disaster.

The insurance value of your home and its market value may vary considerably.  That’s because they are based on very different considerations.

Insurance value is the cost of rebuilding your house, not the price you paid.  Market prices may have dropped, but rebuilding costs have not.

Market price takes your land value into consideration, something ignored for rebuilding cost calculations.

If you want to learn more about this subject, contact your insurance professional and have an open and frank discussion.  It’s not only a good idea, but one that may save you from yourself.

There’s also a website calculator at www.accucoverage.com that you might find interesting.  Using this website, you can obtain an estimate of your home’s insurance value from Marshall & Swift/Boeckh, the company that provides building cost estimates to the insurance industry.  Accucoverage.com charges $7.95 for their report.

Keep in mind that this isn’t a single shot deal.  If you make major renovations/changes to your home, it’s a good idea to recheck its insurance value with your insurance professional.

Homeowners insurance premiums are typically quite reasonable reflecting major improvements.  The place to save money is not on insurance coverage; rather, on deductibles.  Moving from $500 to $1,000 as a deductible may avail you a good savings chunk.  Check it out with your insurance professional.

Hey, Where Did My Living Room Go?

Barbara Novitsky, ABR,ASP,CRIS,CRS, e-PRO,GREEN,GRI,SFR, SRES,REALTOR

You can expect homes of the future to be smaller than those of today according to the National Association of Home Builders.  They estimate that the average home built in 2015 will be 2,152 square feet – 10% smaller than homes that began construction within the first 3 quarters of 2010.

The most likely place for space reduction is evidently going to be the Living Room.  In fact, 52% of surveyed builders said they will most likely merge the Living Room with other rooms in the next few years.  30% expect the Living Room to simply disappear from their floor plans.  Builders also expect entry Foyers and Dining Rooms to be smaller as well in subsequent years.

Something is getting bigger in the midst of all this cutback.  It’s the Family Room.  54% of builders indicate that the Family Room is likely to increase as an overall share of total floor space.

There you have it.  The trend for the future is smaller homes.

Large homes are falling out of favor as more people demand smaller, more efficient housing.

How about you?  What would you like to see as a future trend?

Shedding Some Light on Energy Savings

Barbara Novitsky, ABR,ASP,CRIS,CRS, e-PRO,GREEN,GRI,SFR, SRES,REALTOR

Your choice of light bulbs can help you save a tremendous amount of energy and also add significant savings to your monthly utility bill.  Picking the right light bulb is not rocket science, but it is science.

Lighting accounts for approximately 15 percent of the energy use in a typical home.

For a $200 monthly electric bill, that represents $30.  Cut your lighting energy usage by 50% and save $15 monthly ($180 yearly ) with some simple bulb replacements.  $180 yearly adds up pretty fast over time.

First, survey your household and find out how many incandescent bulbs you currently have in place.  They are your first targets in the energy savings battle.  Those multi-watt incandescent bulbs do give you light, but they also turn much energy into heat.

 

Now, it’s time to make your choice for bulb replacement.  When I say “choice”, I mean just that.  There are four major types of bulbs that can be found on the market today.  Which one(s) you select have a direct bearing on the amount of energy usage (savings) you can expect. 

 

Let’s look at the individual choices available to current day consumers:

 

HALOGENs – If you just have to have the incandescent “look and feel”, this is the choice for you.  Halogen bulbs use a gas that helps reduce the deterioration of tungsten filaments, allowing bulbs to last longer.  Actually, it’s not uncommon to get a 25 percent increase in efficiency and between 2-3 times longer bulb life.  Consider this a baby step toward improving energy consumption.

 

CFLs - Compact Fluorescent Light (CFL) bulbs reduce energy significantly.  A typical CFL may use 75% less energy than it’s comparable XX Watt incandescent cousin.  That’s big savings.  For example, if you have four (4) 65 Watt flood lights in recessed lighting overhead, changing to CFLs will reduce your total wattage from 260 Watts to around 60 watts.  All this by changing just four bulbs.  Oh yes, did I mention lasting 10 times longer than incandescents?  CFLs now come in various shades from cool to warm, but one thing most have in common is that they take a few minutes to come to full brightness.  Don’t worry, you’ll get used to that.  In fact, GE has developed a Halogen Hybrid CFL that comes to full brightness and it’s coming out this Spring.  There are special CFLs designed for use with dimmers.

 

LEDs - Light Emitting Diode (LED) bulbs use about 80 percent less energy than incandescents, beating CFLs.  They also last up to 15 times longer than incandescents.  LEDs are coming into their own, but do have some growing pains.  They have been large, heavy, costly and available in a cool light shade only.  That’s changing.  At around $40 per bulb, there is some sticker shock!  Warm light shades are being developed and prices are sure to fall.  Keep your eyes on LEDs.

 

Vu1 - These are the newest alternative to incandescents and are very interesting devices.  VU1s are electron stimulated luminescence bulbs, very much light those old tube TVs (remember before flat screens?).  A cathode generates electrons and then sprays them over the bulb’s interior phosphor coating.  A 65 Watt equivalent bulb costs around $20 and used just under 20 Watts of energy.  This puts Vu1s between CFLs and LEDs.  They are instant-on bulbs, fully dimmable and contain no mercury (like CFLs).

 

OK, there you have it.  The choice is yours.  Save some energy and bank some money.  Why not start today?

Beware: FHA Raising Private Mortgage Insurance (PMI) Premiums

Barbara Novitsky, ABR,ASP,CRIS,CRS, e-PRO,GREEN,GRI,SFR, SRES,REALTOR

Buyers, beware the Ides of April!

In order to maintain a financially sound Mutual Mortgage Insurance Fund (MMIF), FHA has announced a one-quarter percent raise in Annual Mortgage Premiums effective on April 4, 2011.

There are no changes to the Upfront Mortgage Insurance Premium (UFMIP).

What does this mean to a Buyer who plans to get a new FHA loan?

Here’s an example taken directly from FHA Mortgage Letter 11-10, dated 2/14/2011:

 

 

 

EXAMPLE:  30 Year Term Loan

THROUGH 4/3/2011

Sales Price = $163,000
Minimum Downpayment (3.5%) = $5,705
Mortgage Amount witout UFMIP = $157,295
FHA Annual MIP (monthly payment) = $118

AFTER 4/3/2011

Sales Price = $163,000
Minimum Downpayment (3.5%) = $5,705
Mortgage Amount witout UFMIP = $157,295
FHA Annual MIP (monthly payment) = $151
Change in Payment (monthly) = $33

This is a good time to make that home purchase and lock in a lower Annual MIP.