tag:blogger.com,1999:blog-76725152923648390772023-07-20T05:25:57.483-07:00Winterbauer's Wisdom & Wit BlogProviding Blue Ribbon Service and Serving the Greater San Francisco Bay Area since 1978...........About Pamhttp://www.blogger.com/profile/10466621219890355537noreply@blogger.comBlogger188125tag:blogger.com,1999:blog-7672515292364839077.post-86870127586134546462013-11-27T22:10:00.000-08:002013-11-27T22:10:05.256-08:00Today is Thanksgiving!<span style="font-family: "Trebuchet MS", sans-serif;">Thanksgiving is a special celebration full of family gatherings, holiday meals, and giving thanks. It is a time of roasted turkeys, cranberry confections, cornbread stuffing, piping hot pumpkin pies, football games, and holiday parades.</span><br />
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<span style="font-family: "Trebuchet MS", sans-serif;">The three-day festival that is now hailed as the “first Thanksgiving,” took place in the village of Plymouth in 1621. Governor William Bradford organized a feast to celebrate the Pilgrims’ first successful corn harvest. Those in attendance included the Wampanoag chief Massasoit. Historians know that the Mayflower’s sugar supply had run low, so the meal did not feature any pies, but one record indicates that four men were sent on a “fowling” mission, which very well may have resulted in a turkey!</span><br />
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<span style="font-family: "Trebuchet MS", sans-serif;">Presidents Washington, Adams, and Monroe proclaimed national Thanksgivings, but the custom soon fell out of favor. Then, in the 1820s, Sarah Josepha Hale began a campaign to reinstate the national celebration, and in 1863 President Lincoln proclaimed a Thursday in November as the National Day of Thanksgiving. The holiday has been celebrated ever since</span>About Pamhttp://www.blogger.com/profile/10466621219890355537noreply@blogger.com0tag:blogger.com,1999:blog-7672515292364839077.post-71881828004330435802013-09-13T11:02:00.002-07:002013-09-13T11:02:48.974-07:00How to Investigate a Potential Neighborhood<span style="font-family: Trebuchet MS, sans-serif;">You’ve gone to the open house. You’ve had a private showing. You’ve read the disclosures. You’ve decided this is the house for you, and you’re ready to make an offer.</span><br />
<span style="font-family: Trebuchet MS, sans-serif;">Before you take that step, though, you should fully check out the neighborhood. After all, this is where you’re going to live for years. Is there something you don’t know about that could negatively affect the resale value later? Is there a neighbor who comes roaring home late at night on a muffler-free motorcycle? Is the next-door neighbor operating a day care for pre-schoolers?</span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">Given the high stakes of homeownership, it pays to do your homework before making an offer. For example, a potential buyer was ready to sign on the dotted line for a home in San Francisco, a city famous for its microclimates. The buyer had only been to the home during the day, when it was sunny and warm. On his real estate agent’s advice, the buyer returned at night — to find the house blanketed by cold, windy fog. He continued his home search elsewhere, relieved he hadn’t unknowingly bought into the city’s “fog and wind be</span><span style="font-family: 'Trebuchet MS', sans-serif;">lt.”</span><br />
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<span style="font-family: Trebuchet MS, sans-serif;"><b>Here are five ways to investigate a neighborhood before you buy.</b></span><br />
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<b><span style="font-family: Trebuchet MS, sans-serif;">1. Talk to the neighbors</span></b><br />
<span style="font-family: Trebuchet MS, sans-serif;">Without being intrusive, look for an opportunity to chat with your potential neighbors. What’s their opinion of the block and the neighborhood? Do they know of any problem neighbors? Are they aware of any recent car or home break-ins? Is anyone planning a big remodel that could impact other homes or their values? Do they know of someone on the block who might be getting ready to sell? An even more desirable home could be coming on the market.</span><br />
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<b><span style="font-family: Trebuchet MS, sans-serif;">2. Visit day and night, weekday and weekend</span></b><br />
<span style="font-family: Trebuchet MS, sans-serif;">As the San Francisco example shows, don’t just visit the house during the day. Check it out at night to get a sense of what’s going on in the neighborhood after hours. Is it noisy or calm? Visit on the weekend and early morning, too. The more times of day you go, the more chances you’ll have to get the feel for the neighborhood.</span><br />
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<b><span style="font-family: Trebuchet MS, sans-serif;">3. Check out the local newspaper and the neighborhood blog</span></b><br />
<span style="font-family: Trebuchet MS, sans-serif;">Some neighborhoods still have their own newspapers. If there’s one published for the neighborhood you’re considering, check it out for local stories. Pay particular attention to the “police blotter,” which typically lists crimes reported in the area. Also, some neighborhoods have blogs where locals ask for tips and advice, or post issues or concerns affecting the neighborhood. A Google search should help you find out whether there’s a blog for the neighborhood you’re considering.</span><br />
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<b><span style="font-family: Trebuchet MS, sans-serif;">4. Get an app</span></b><br />
<span style="font-family: Trebuchet MS, sans-serif;">Some smartphone apps, such as CrimeReports for iPhone, provide information about crime based on your location or address. Among the problems you may see displayed on a map are noise nuisances, sex offenders and vehicle break-ins. The CrimeReports app gives you some specifics, such as when and where each incident occurred.</span><br />
<span style="font-family: Trebuchet MS, sans-serif;">Zillow’s real estate apps allow you to see estimates of properties on the block. They also allow you to search recent sales or see rentals, a good indication of whether your neighbors are renters or homeowners.</span><br />
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<b><span style="font-family: Trebuchet MS, sans-serif;">5. Google the street address</span></b><br />
<span style="font-family: Trebuchet MS, sans-serif;">If you Google the home’s street address, you might be amazed at what you find. You might, for instance, discover a nearby home-based business with employees (which could reduce street parking spaces). Using Google’s Street View, where photos can be months if not years old, you might discover that the ground-floor bedroom window once had bars on it.</span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">Be a sleuth before the sale</span><br />
<span style="font-family: Trebuchet MS, sans-serif;">The Internet is an amazing resource of information. Too often, though, potential home buyers don’t fully use it to find out everything they can before entering into a contract on a home. As soon as you’ve identified a home you want to buy, get online and do your homework. You might be pleasantly — or unpleasantly — surprised by what you learn.</span><br />
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By BRENDON DESIMONE Published August 26, 2013 Zillow</div>
About Pamhttp://www.blogger.com/profile/10466621219890355537noreply@blogger.com0tag:blogger.com,1999:blog-7672515292364839077.post-86190677684980854652013-09-13T10:52:00.001-07:002013-09-13T10:52:05.830-07:00Richmond Approves Plan to "Seize" Underwater Mortgages<span style="font-family: Arial, Helvetica, sans-serif;">Early
Wednesday morning the Richmond City Council (on a 4 to 3 vote) approved a plan
to "seize" underwater mortgages using their power of eminent domain and turn
them over to an investor. Opponents are concerned the plan will dissuade banks
from making loans in Richmond.</span><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">Meanwhile, on Thursday a federal judge rejected a suit filed by two banks to stop Richmond from seizing mortgages. This
decision allows Richmond and Mortgage Resolution Partners (MRP) to move forward.
MRP is a San Francisco-based investment firm that is shopping the mortgage
seizure plan to cities throughout California.</span>About Pamhttp://www.blogger.com/profile/10466621219890355537noreply@blogger.com0tag:blogger.com,1999:blog-7672515292364839077.post-15659648869814738992013-05-30T11:18:00.004-07:002013-05-30T11:18:42.943-07:00Short Sales Losing Favor with Lenders?<strong><span style="font-family: Arial, Helvetica, sans-serif;">DAILY REAL ESTATE NEWS | </span><span style="font-family: Arial, Helvetica, sans-serif;">THURSDAY, MAY 30, 2013</span></strong><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">Lenders may be less inclined to approve short sales due to rising home prices, according to a new report by RealtyTrac.</span><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">During the first quarter, short sales posted a 35 percent drop compared to year-ago levels. </span><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">"The decrease in short sales was a bit of surprise given that 11 million home owners nationwide still owe more on their homes than they're worth," says Daren Blomquist, spokesman for RealtyTrac. "Rising home prices are taking away the incentive for short sales on the part of both home owners and lenders."</span><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">Foreclosure prices are on the rise, increasing 28 percent in the first quarter. The banks may be realizing they won’t necessarily lose a lot more money by letting a home go into foreclosure instead, Blomquist says. </span><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">However, foreclosure sales have been plummeting too, reaching their lowest levels since early 2008. Foreclosure sales made up 21 percent of the total market during the first quarter, which is down from 25 percent one year ago, according to RealtyTrac. </span><br />
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Foreclosure sales peaked in early 2009, when they made up 45 percent of all homes sold nationally. <br />
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Still, foreclosures are making up the biggest bulk of sales in certain states, such as Georgia (where 35 percent of sales were foreclosures in the first quarter), Illinois (32 percent), and California (30 percent), according to RealtyTrac. <br />
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About Pamhttp://www.blogger.com/profile/10466621219890355537noreply@blogger.com0tag:blogger.com,1999:blog-7672515292364839077.post-58425032598494510882013-05-06T14:17:00.001-07:002013-05-06T14:17:24.174-07:0010 Ways to Reduce Housing Costs in Retirement.....Housing costs make up one-third of the average American household's budget, the largest monthly expense for most families. And since reducing living costs is the most common way to make ends meet in retirement, it makes sense to take a hard look at your housing costs and what you can do to reduce them.
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The secret that will make -- or break -- your retirement
Your home equity: How to use it for retirement security
Retirement planning outside the box: Move out of the suburbs
How to retire with no retirement savings: the "Golden Girls" solution
Welcome to Week 12 of my series 16 weeks to plan your retirement. Since most Americans have insufficient savings to fund a traditional retirement, they'll need to look for creative ways to make every dollar count, and finding resourceful ways to lower housing costs will help.
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Here are 10 ways to pare your housing budget:
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-- Pay off your mortgage before you retire or shortly thereafter. If you're several years away from retirement, consider refinancing with a 15-year fixed mortgage. Interest rates are near all-time lows.
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-- Downsize to a smaller house, with reduced bills for utilities, maintenance and property taxes. You might also be able to realize some home equity that can be invested to generate retirement income.
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-- Move to a location that enables you to reduce other costs, such as transportation or health care. This could mean moving out of the suburbs and into a city.
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-- Move to a less expensive part of the country. There are a number of "best places to retire" websites that you can review to give you some ideas.
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-- Move to another country with dramatically reduced living costs. Panama, Costa Rica and some South American and European countries consistently show up on review lists of the best places to live abroad.
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-- Rent out a room or two for additional income. This solution works best if you don't want to move and have a large house. After my daughter graduated from college, she rented a room from a retired couple for a year. It was a win-win situation: My daughter had inexpensive housing, and the couple earned some extra spending money.
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-- Share housing with other retirees -- what I like to call the "Golden Girls solution." Not only will you share in the cost of housing, but you can also realize savings in regards to your insurance, utilities and even food. Obviously this option isn't for everyone, but don't dismiss it without thinking it through.
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-- Consider a reverse mortgage to help you generate retirement income. This solution works for people who own their house and plan to stay for many years. If you didn't or don't plan to buy long-term care insurance, however, I advise keeping your home equity in reserve for a day when you could face high bills for long-term care.
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-- Move in with one of your children. Of course, this solution is fraught with emotional issues. Of critical importance for you: How can you make your presence a help to your child's family instead of a burden?
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-- Sell your home, and rent something that better fits your needs, such a place with less square footage or one that's part of a senior community. You can use a "buy versus rent" calculator to analyze this possibility; these calculators compare all housing costs when either buying or renting, including the best use of the assets you'd apply for a down payment on a house, and your expectations for rent increases and home appreciation. To analyze this solution as a retiree who currently owns a home, estimate the amount of money you'd realize from selling your house, after subtracting selling costs, and use that as the theoretical down payment on a smaller, downsized house. Then compare that option to the cost of renting a home or apartment.
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I realize that some of these ideas may not work or be desirable for everybody. For example, not many people will want to live abroad, and many will want to live close to their children (but maybe not too close!). Or you might find it undesirable to share housing. But if you reach retirement age with inadequate savings for a traditional retirement, you don't have many choices: You'll either need to keep working, reduce your living expenses or work out some combination of the two.
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I'm always impressed with the creativity of our readers, so if you have helpful solutions to share, please add them in the comment section below.
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As with the other steps in this series, it will most likely take more than one week to investigate your housing options. But get started today, and you'll make great progress. You'll feel more confident in your ability to retire as you investigate various ways to make ends meet. And keep in mind that ultimately, the best place to retire is one where you'll be happy and comfortable.
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© 2013 CBS Interactive Inc.. All Rights Reserved.
About Pamhttp://www.blogger.com/profile/10466621219890355537noreply@blogger.com0tag:blogger.com,1999:blog-7672515292364839077.post-63797335356490138002013-04-21T14:44:00.000-07:002013-04-21T14:44:24.374-07:00Unique idea for a Single Serving of a Chocolate Chip CookieFor those days you just want to make one cookie.....
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1 tbsp. butter, melted
1 tbsp. white sugar
... 1 tbsp. brown sugar
3 drops of vanilla
pinch of salt
1 egg yolk
1/4 c. flour
2 tbsp. chocolate chips
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MICROWAVE 40-60 SEC IN A CUP OR BOWL. {single serving} deep dish chocolate chip cookieSee MoreAbout Pamhttp://www.blogger.com/profile/10466621219890355537noreply@blogger.com0tag:blogger.com,1999:blog-7672515292364839077.post-22611581971854742312013-04-21T14:36:00.001-07:002013-04-21T14:36:30.358-07:00Green Kitchen Countertops: 3 Eco-Friendly ChoicesSave money over granite and be kind to your home planet. How? Pick a green kitchen countertop material when you remodel your kitchen.
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Perhaps the most luring kitchen improvement (http://www.houselogic.com/home-improvement/rooms/kitchens/) is replacing countertops. If you're replacing your kitchen countertops, it's smart to go green whether you're on a tight budget or can afford something luxe. These days, sustainable materials are just as good-looking as traditional countertops like granite or quartz, so making a green choice won't ding your home's resale value.
What's green? Green kitchen countertops feature recycled or sustainable content, low-toxicity binders, eco-friendly manufacturing processes, or a combination. Local production is good, too, if you can arrange it, because transporting countertops is a big fuel-guzzler.
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But the most important thing is to pick something durable-if you never have to buy new countertops again, that's as green as it gets.
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These three green kitchen countertop options earn high marks for durability and style. And for value, compare them to the ubiquitous slab granite, which costs $60 to $100 per sq.ft.
1. Recycled paper countertops
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Cost Starts at $30/sq ft
And, easy install = labor savings Lifespan TBD because new on the scene, but likely a long time.
It may seem counterintuitive to use paper for a countertop, but when you bind paper fibers with resin, it makes a surface that's tough as nails. What's more, they tend to be easy to install. Since installation can equal 80% of your total cost, expect to save on labor.
•PaperStone (http://www.paperstoneproducts.com) is a brand that meets Forest Stewardship Council certification requirements for materials made with sustainable forest management practices and is VOC-free.
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•Squak Mountain Stone (http://www.squakmountainstone.com) is made from recycled paper, recycled glass, reclaimed fly ash, and cement; the finished countertop slabs resemble limestone and soapstone.
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•EcoTop (http://www.kliptech.com/) countertops consist of renewable bamboo fiber, post-consumer recycled paper, and water-based resin glue.
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2. Reclaimed wood countertops
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Cost Starts at $40/sq ft Lifespan Lifetime
Reuse trumps recycling when it comes to conserving resources because it keeps products from entering the waste stream. So salvaged wood countertops are green by definition. Purchase them directly at a local salvage supply or through a manufacturer that uses reclaimed materials.
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Starting at $40 per sq.ft., manufactured countertops made from reclaimed wood are typically more expensive than regular butcher block.
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Wood's a beauty. But it's prone to water damage, needs occasional re-sealing (or frequent applications of mineral oil, which can be a hassle), and shouldn't be installed directly next to a sink or dishwasher. So you'll need to budget for a second material to use in your kitchen.
•Craft-Art (http://www.craft-art.com) includes a line of wood countertops made of reclaimed wood from older barns, warehouses, and commercial buildings.
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•Endurawood (http://www.endurawood.com) fashions wood countertops from reclaimed fir and oak, including old wine vats.
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3. Recycled glass countertops
Recycled glass is gorgeous and tough (you can actually set hot pots directly on it)-but you'll pay a price comparable to slab granite, starting at around $50 per sq.ft. and going much higher.
•Vetrazzo (http://www.vetrazzo.com) makes countertops that are 85% recycled glass. Almost all the glass comes from curbside recycling programs.
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•IceStone (http://www.icestone.biz), which is 100% recycled glass in a cement substrate, meets Cradle to Cradle (http://www.mbdc.com/services/cradle-to-cradle-certified-consulting/) gold certification standards, meaning the products contain no problematic chemicals, the materials can be reutilized, and 50% of manufacturing was done with reusable energy.
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Article From HouseLogic.com
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By: John Riha
Published: November 06, 2010
Karin Beuerlien contributed to this article.
About Pamhttp://www.blogger.com/profile/10466621219890355537noreply@blogger.com0tag:blogger.com,1999:blog-7672515292364839077.post-29976897660880948862013-03-06T13:02:00.001-08:002013-03-06T13:02:24.078-08:0010 Foolproof Vegetables for Container GardeningWant fresh veggies but don’t have a back 40, the time, or the know-how for a full-size vegetable plot? Container vegetable gardening is the answer.
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Top reasons to grow veggies in containers
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Minimal space needed
hardly any weeds
no back strain
watering is easy
growing your own food saves money
Mary Moss-Sprague, master gardener and author of Stand Up and Garden (Countryman Press, 2012), grows all her vegetables in containers after a disease ran rampant through her garden soil and decimated her tomato plants -- a non-problem with containers because they don’t share soil.
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“I’m never going back to growing things in the ground,” she says.
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Tips for container gardening
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Containers: Any container will do, as long as it’s deep enough for the plant (check the seed packet). Just drill ½-inch drainage holes in the bottom.
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Moss-Sprague suggests snagging 5-gallon food buckets from your grocery store or deli, or asking your neighborhood garden center for 5- to 7-gallon grower’s pots — both are free. Before using, wash out the container with a gallon of water mixed with a cup of chlorine bleach to kill off any lingering bacteria.
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Soil: All-purpose soil is pretty goof-proof. But don’t use topsoil -- it won’t work because it doesn’t have the required nutrients.
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Plants: Read instructions on the seedling or seed packet first. The same rules for sun, watering, space, and hardiness zones apply to container vegetables.
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Top 10 container vegetables
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1. Tomatoes: All kinds do well in pots. Try grape and cherry varieties for easy growing -- their small size makes them easy to handle. Put up a trellis because they love to climb.
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Pros: Growing them in containers makes them a snap to water because it’s easier to get under their leaves; cherry tomatoes produce quickly.
Cons: Don’t seed directly in container -- young tomato plants need specific growing conditions to get started, which can be tricky; buy seedlings instead.
2. Peppers: Bell and chili peppers are good container contenders. Peppers can be picky when starting out, so plant seedlings instead of seeds.
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Pros: Red mini bell peppers are quick producers -- about 2 months until they’re ready to eat.
Cons: You’ll need some patience -- regular peppers take up to 3 months to mature.
3. Lettuce: Any kind of lettuce will grow in pots. You can seed directly in the pot.
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Pros: Huge selection to choose from, and you can plant different varieties in the same container — a beautiful look.
Cons: They need full sun — you might have to move your containers around to ensure good exposure.
4. Spinach: All different varieties really thrive in containers. Scatter the seeds and thin them out as they grow.
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Pros: You can trim off the leaves when you want them and they’ll just keep growing more.
Cons: Good drainage is really important for spinach; it prefers sunny days and cool nights.
5. Radishes: French Breakfast, White Icicle, and Short Cherry Bell are three varieties to try. Plant 1 to 2 inches between, and thin as they grow.
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Pros: Super quick! About 25 days and they’re ready to crunch.
Cons: They don’t like heat -- if you live in a hot zone, look for varieties that are heat-resistant, or grow in the spring and fall.
6. Green onions: Very pretty and very easy to grow.
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Pros: They don’t take much room and are easy to manage -- they like sun, but be sure to wait until the danger of frost has passed before planting.
Cons: They take a couple of months until they’re ready.
7. Carrots: Any type of carrot will work in containers -- when they’re ready to harvest, soak the container with water first to making pulling easier.
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Pros: There are many types to choose from; “kaleidoscope” mixes come with a variety of flavors and beautiful colors.
Cons: Some will take up to 80 days until they’re ready; if you’re an impatient gardener, look for quick-maturing types, such as Touchon and Little Finger.
8. Swiss chard: Seed directly in your container and trim leaves as needed — they’ll continue to produce. Chard is tastiest when it’s young.
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Pros: Very durable plant that tolerates warmth.
Cons: Getting your kids to eat it (unusual flavors).
9. Cucumbers: Another good plant for impatient gardeners, cukes add crunch to summer salads and sandwiches.
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Pros: Quick to germinate and quick to grow.
Cons: They need sturdy support posts or a trellis so the plants have somewhere to climb. Or try smaller, less-heavy bush cucumbers.
10. Green beans: So easy to grow, you can put your kids in charge.
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Pros: Quick growers and you’ll have a bumper crop if you pick regularly — they’ll just keep growing more.
Cons: Climbing beans — called pole beans — grow 5 to 6 feet, so stick to bush beans, which hit 1-2 feet on sturdy, self-supporting stems.
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By: Danielle Beurteaux
About Pamhttp://www.blogger.com/profile/10466621219890355537noreply@blogger.com0tag:blogger.com,1999:blog-7672515292364839077.post-22684512250231373472013-02-23T21:56:00.002-08:002013-02-23T21:56:56.370-08:00Don't-Miss Home Tax BreaksFrom the mortgage interest deduction to energy tax credits, here are the tax tips you need to get a jump on your returns.
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Mortgage interest deduction
Private mortgage insurance deduction
Prepaid interest deduction
Energy tax credits
Vacation or second home tax deductions
Home buyer tax credit repayment
Property tax deduction
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Mortgage interest deduction
One of the neatest deductions itemizing home owners can take advantage of is the mortgage interest deduction, which you claim on Schedule A. To get the mortgage interest deduction, your mortgage must be secured by your home — and your home can even be a house trailer or boat, as long as you can sleep in it, cook in it, and it has a toilet.
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Interest you pay on a mortgage of up to $1 million — or $500,000 if you’re married filing separately — is deductible when you use the loan to buy, build, or improve your home.
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If you take on another mortgage (including a second mortgage, home equity loan, or home equity line of credit) to improve your home or to buy or build a second home, that counts towards the $1 million limit.
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If you use loans secured by your home for other things — like sending your kid to college — you can still deduct the interest on loans up $100,000 ($50,000 for married filing separately) because your home secures the loan.
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PMI and FHA mortgage insurance premiums
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Helpfully, the government extended the mortgage insurance premium deduction through 2013. You can deduct the cost of private mortgage insurance as mortgage interest on Schedule A — meaning you must itemize your return. The change only applies to loans taken out in 2007 or later.
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What’s PMI? If you have a mortgage but didn’t put down a fairly good-sized down payment (usually 20%), the lender requires the mortgage be insured. The premium on that insurance can be deducted, so long as your income is less than $100,000 (or $50,000 for married filing separately).
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If your adjusted gross income is more than $100,000, your deduction is reduced by 10% for each $1,000 ($500 in the case of a married individual filing a separate return) that your adjusted gross income exceeds $100,000 ($50,000 in the case of a married individual filing a separate return). So, if you make $110,000 or more, you lose 100% of this deduction (10% x 10 = 100%).
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Besides private mortgage insurance, there's government insurance from FHA, VA, and the Rural Housing Service. Some of those premiums are paid at closing and deducting them is complicated. A tax adviser or tax software program can help you calculate this deduction. Also, the rules vary between the agencies.
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Prepaid interest deduction
Prepaid interest (or points) you paid when you took out your mortgage is 100% deductible in the year you paid them along with other mortgage interest.
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If you refinance your mortgage and use that money for home improvements, any points you pay are also deductible in the same year.
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But if you refinance to get a better rate and term or to use the money for something other than home improvements, such as college tuition, you’ll need to deduct the points over the term of the loan. Say you refi for a 10-year term and pay $3,000 in points. You can deduct $300 per year for 10 years.
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So what happens if you refi again down the road?
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Example: Three years after your first refi, you refinance again. Using the $3,000 in points scenario above, you’ll have deducted $900 ($300 x 3 years) so far. That leaves $2,400, which you can deduct in full the year you complete your second refi. If you paid points for the new loan, the process starts again; you can deduct the points over the term of the loan.
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Home mortgage interest and points are reported on IRS Form 1098. You enter the combined amount on line 10 of Schedule A. If your 1098 form doesn’t indicate the points you paid, you should be able to confirm the amount by consulting your HUD-1 settement sheet. Then you record that amount on line 12 of Schedule A.
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Energy tax credits
The energy tax credit of up to a lifetime $500 had expired in 2011. But the Feds extended it for 2012 and 2013. If you upgraded one of the following systems this year, it’s an opportunity for a dollar-for-dollar reduction in your tax liability: If you get the $500 credit, you pay $500 less in taxes.
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Biomass stoves
Heating, ventilation, air conditioning
Insulation
Roofs (metal and asphalt)
Water heaters (non-solar)
Windows, doors, and skylights
Storm windows and doors
Varying maximums
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Some of the eligible products and systems are capped even lower than $500. New windows are capped at $200 —and not per window, but overall. Read about the fine print in order to claim your energy tax credit.
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Determine if the system is eligible. Go to Energy Star’s website for detailed descriptions of what’s covered. And talk to your vendor.
The product or system must have been installed, not just contracted for, in the tax year you'll be claiming it.
Save system receipts and manufacturer certifications. You’ll need them if the IRS asks for proof.
File IRS Form 5695 with the rest of your tax forms.
Vacation home tax deductions
The rules on tax deductions for vacation homes are complicated. Do yourself a favor and keep good records about how and when you use your vacation home.
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If you’re the only one using your vacation home (you don’t rent it out for more than 14 days a year), you can deduct mortgage interest and real estate taxes on Schedule A.
Rent your vacation home out for more than 14 days and use it yourself fewer than 15 days (or 10% of total rental days, whichever is greater), and it’s treated like a rental property. Those expenses get deducted using Schedule E.
Rent your home for part of the year and use it yourself for more than 14 days and you have to keep track of income, expenses, and divide them proportionate to how often you used and how often you rented the house.
Home buyer tax credit
There were federal first-time home buyer tax credits in 2008, 2009, and 2010.
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If you claimed the home buyer tax credit for a purchase made after April 8, 2008, and before Jan. 1, 2009, you must repay 1/15th of the credit over 15 years, with no interest.
If you used the tax credit in 2009 or 2010 and then sold your house or stopped using it as your primary residence, within 36 months of the purchase date, you also have to pay back the credit. Example: If you bought a home in 2010 and sold in 2012, you pay it back with your 2012 taxes.
That repayment rules are less rigorous for uniformed service members, Foreign Service workers, and intelligence community workers who get sent on extended duty at least 50 miles from their principal residence.
Members of the armed forces who served overseas got an extra year to use the first-time home buyer tax credit. If you were abroad for at least 90 days between Jan. 1, 2009, and April 30, 2010, and you bought your home by April 30, 2011, and closed the deal by June 30, 2011, you can claim your first-time home buyer tax credit.
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The IRS has a tool you can use to help figure out what you owe.
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Property tax deduction
You can deduct on Schedule A the real estate property taxes you pay. If you have a mortgage with an escrow account, the amount of real estate property taxes you paid shows up on your annual escrow statement.
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If you bought a house in 2012, check your HUD-1 Settlement statement to see if you paid any property taxes when you closed the purchase of your house. Those taxes are deductible on Schedule A, too.
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This article provides general information about tax laws and consequences, but shouldn’t be relied upon as tax or legal advice applicable to particular transactions or circumstances. Consult a tax professional for such advice; tax laws may vary by jurisdiction.
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By: Dona DeZube ~ Published: January 10, 2013
By: Dona DeZube Published: January 10, 2013
About Pamhttp://www.blogger.com/profile/10466621219890355537noreply@blogger.com0tag:blogger.com,1999:blog-7672515292364839077.post-10198099716594010592013-02-14T21:32:00.003-08:002013-02-14T21:35:45.170-08:009 Easy Mistakes Home Owners Make on Their TaxesDon’t rouse the IRS or pay more taxes than necessary — know the score on each home tax deduction and credit.
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Sin #1: Deducting the wrong year for property taxes
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You take a tax deduction for property taxes in the year you (or the holder of your escrow account) actually paid them. Some taxing authorities work a year behind — that is, you’re not billed for 2013 property taxes until 2014. But that’s irrelevant to the feds.
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Enter on your federal forms whatever amount you actually paid in 2013, no matter what the date is on your tax bill. Dave Hampton, CPA, tax manager at the Cincinnati accounting firm of Burke & Schindler, has seen home owners confuse payments for different years and claim the incorrect amount.
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Sin #2: Confusing escrow amount for actual taxes paid
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If your lender escrows funds to pay your property taxes, don’t just deduct the amount escrowed, says Bob Meighan, CPA and vice president at TurboTax in San Diego. The regular amount you pay into your escrow account each month to cover property taxes is probably a little more or a little less than your property tax bill. Your lender will adjust the amount every year or so to realign the two.
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For example, your tax bill might be $1,200, but your lender may have collected $1,100 or $1,300 in escrow over the year. Deduct only $1,200. Your lender will send you an official statement listing the actual taxes paid. Use that. Don’t just add up 12 months of escrow property tax payments.
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Sin #3: Deducting points paid to refinance
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Deduct points you paid your lender to secure your mortgage in full for the year you bought your home. However, when you refinance, says Meighan, you must deduct points over the life of your new loan. If you paid $2,000 in points to refinance into a 15-year mortgage, your tax deduction is $133 per year.
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Sin #4: Misjudging the home office tax deduction
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This deduction may not be as good as it seems. It's complicated, often doesn’t amount to much of a deduction, has to be recaptured if you turn a profit when you sell your home, and can pique the IRS’s interest in your return. Hampton’s advice: Claim it only if it’s worth those drawbacks. If so, here's what to know about what you can write off.
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Sin #5: Failing to repay the first-time home buyer tax credit
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If you used the original home buyer tax credit in 2008, you must repay 1/15th of the credit over 15 years. If you used the tax credit in 2009, 2010, or 2011 and then sold your house or stopped using it as your primary residence, within 36 months of the purchase date, you also have to pay back the credit.
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The IRS has a tool you can use to help figure out what you owe.
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Sin #6: Failing to track home-related expenses
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If the IRS comes a-knockin’, don’t be scrambling to compile your records. Many people forget to track home office and home maintenance and repair expenses, says Meighan. File away documents as you go. For example, save each manufacturer's certification statement for energy tax credits and lender or government statements to confirm property taxes paid.
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Sin #7: Forgetting to keep track of capital gains
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If you sold your main home last year, don’t forget to pay capital gains taxes on any profit. You can exclude $250,000 (or $500,000 if you’re a married couple) of any profits from taxes. So if you bought a home for $100,000 and sold it for $400,000, your capital gains are $300,000. If you’re single, you owe taxes on $50,000 of gains. However, there are minimum time limits for holding property to take advantage of the exclusions, and other details. Consult IRS Publication 523.
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Sin #8: Filing incorrectly for energy tax credits
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If you made any eligible improvements in 2012 -- or will in 2013 -- such as installing energy-efficient windows and doors, you may be able to take a 10% tax credit (up to $500). But keep in mind, it's a lifetime credit. If you claimed the credit in any recent years, you're done. Fill out Form 5695.
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Part II of the form, which covers systems eligible for a larger tax credit through 2016, such as geothermal heat pumps, can be incredibly complex and involves crosschecking with half a dozen other IRS forms. Read the instructions carefully.
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Sin #9: Claiming too much for the mortgage interest tax deduction
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You can deduct mortgage interest only up to $1 million of mortgage debt, says Meighan. If you have $1.2 million in mortgage debt, for example, deduct only the mortgage interest attributable to the first $1 million.
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This article was original published in Jan. 2011.
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This article provides general information about tax laws and consequences, but shouldn't be relied upon as tax or legal advice applicable to particular transactions or circumstances. Consult a tax professional for such advice.About Pamhttp://www.blogger.com/profile/10466621219890355537noreply@blogger.com0tag:blogger.com,1999:blog-7672515292364839077.post-20383839018561680072013-01-15T23:12:00.000-08:002013-01-15T23:12:13.757-08:00How to Get Rid of Stuff and Declutter Your Life<div style="letter-spacing:normal!important;width:485px!important; padding:0 40px!important; font-family:Arial,sans-serif!important;"> <ul style="letter-spacing:normal!important;list-style:none!important;margin:0 0 30px!important;padding-left:0;float:left;width:485px;font-family:Arial,sans-serif!important;"> <li style="letter-spacing:normal!important;font-family:Arial,sans-serif!important;display:block;vertical-align:baseline!important;padding:30px 0!important; border-bottom:1px solid #ebf0f2!important; color:#777!important; font-size:12px!important; line-height:20px!important;float:left;width:485px;"> <h3 style="letter-spacing:normal!important;font-family:Arial,sans-serif!important;float:left;width:373px;margin:0; font-size:16px!important; font-weight:bold!important;"><a style="color:#16a8d3!important; text-decoration:none!important;" href="http://www.houselogic.com/home-advice/home-improvement/how-to-get-rid-of-stuff/" target="_blank">How to Get Rid of Stuff and Declutter Your Life</a></h3> <p style="letter-spacing:normal!important;font-family:Arial,sans-serif!important;margin:0;float:left;width:373px;">You can get that warm, fuzzy holiday feeling and make a few bucks by responsibly ditching all the excess stuff you accumulate, particularly at this time of year. <a target="_blank" style="color:#16a8d3!important; text-decoration:none!important;" href="http://www.houselogic.com/home-advice/home-improvement/how-to-get-rid-of-stuff/">Read</a></p> <div style="clear:both;"></div> </li> </ul> <div style="float:left;width:485px;"> <p style="letter-spacing:normal!important;font-family:Arial,sans-serif!important;margin:0 0 12px!important; color:#000!important; font-size:12px!important;">Visit <a style="color:#16a8d3!important; text-decoration:none!important;" href="http://www.houselogic.com">houselogic.com</a> for more articles like this.</p> <p style="letter-spacing:normal!important;font-family:Arial,sans-serif!important;margin:0 0 12px!important; color:#000!important; font-size:11px!important;"> Copyright 2013 NATIONAL ASSOCIATION OF REALTORS®</p> </div> </div> About Pamhttp://www.blogger.com/profile/10466621219890355537noreply@blogger.com0tag:blogger.com,1999:blog-7672515292364839077.post-91919522440384464632012-09-03T14:33:00.000-07:002012-09-03T14:33:08.987-07:00Allergies at HomeIf you have allergies at home, you’re hosting allergens with specific needs. If those pollutants could write classified ads, here’s what they’d want.
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DUST MITES in need of a cozy mattress. Please, no dust mite-proof covers (we can’t hack latex mattresses or silk bedding, either). Bedding and comforters must be rarely washed. Absolutely NO water heaters set above 130 degrees -- we’d be goners. Prefer natural materials for hanging out -- no synthetics or air purifiers with HEPA (high-efficiency particulate air) filters, please, as we find them inhospitable.
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POLLEN wants airy home with windows and doors frequently left open. Prefer windows where mold and condensation are never cleaned from window frames and sills. Definitely prefer a location with no HVAC air filtration system so we can easily circulate to keep eyes watering and noses running. Absolutely NO small-particle or HEPA filters allowed.
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MODERN ALLERGEN FAMILY (dust, pollen, pet dander, and dust mites) in need of carpeting. Thick carpet piles that are rarely shampooed or vacuumed given preference. No homes with hardwood, laminate, or vinyl flooring considered because there’s nowhere for us to hide. Also, no calls accepted from homes where surfaces are steam-cleaned or that feature low-pile carpets that are regularly vacuumed (equipped with a HEPA filter). Washable area rugs not considered.
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RESPIRATORY AILMENTS willing to trade a clean-burning gas fireplace for an old-fashioned, inefficient wood-burning model that produces plenty of smoke and gasses. Please, no wood-burning fireplace inserts. Also looking to sell our vented range hood (which really sucks the life out of us).
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WANTED: Horizontal blinds where dust and pollen can settle undisturbed. Please, no natural and synthetic curtains that are regularly washed, or we’re down the drain.
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DUST AND OTHER ALLERGENS seek comfy home fully furnished with upholstered goods that are never vacuumed. No leather, wood, metal, or plastic furnishings considered, as we don’t find these hospitable.
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MOLD AND MILDEW need hot, humid home with no air conditioning and no dehumidifier. (A place with a dehumidifier may be considered if it’s rarely cleaned. We’ve found these make a nice home too.) Especially happy in a location with water damage: damp carpeting, a soggy basement, leaky plumbing, and a clothes dryer that isn’t vented outside. Also interested in locations with non-ventilated bathrooms lined with wallpaper, and equipped with a shower, tub, mats, and curtains that are rarely cleaned. Leaky toilets considered a plus. Please, no tiled bathrooms.
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CLUTTER WANTED: Dust and pollen seek a variety of knickknacks, books and magazines, dried flowers, toys (especially stuffed animals), wicker baskets, and other items to collect on. No dusting considered. Also, please don’t wash stuffed animals monthly in hot (130 degree) water as this is a killer move when it comes to us allergens! And, if you’ve heard about putting nonwashable stuffed animals in the freezer for 24 hours and then rinsing the dead dust mites off with cold water -- don’t do that either.
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MUST SELL: HEPA filters for heating and cooling system. Allergens can’t thrive when these filters are changed in the furnace once a month. Priced for quick sale.
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COCKROACHES seek dine-in home where food and garbage are easily accessible. (i.e. Don’t wipe down the stove, countertop, or table after dinner. DO pile unwashed dishes in the sink and leave the trashcan uncovered.) Please, no food stored in airtight containers. Positively no homes accepted where poison baits, boric acid, or insect traps are in use.
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By: Jan Soults Walker Published: June 22, 2012
About Pamhttp://www.blogger.com/profile/10466621219890355537noreply@blogger.com0tag:blogger.com,1999:blog-7672515292364839077.post-9245865458508478272012-08-28T15:59:00.001-07:002012-08-28T15:59:04.767-07:00<div style="letter-spacing:normal!important;width:485px!important; padding:0 40px!important; font-family:Arial,sans-serif!important;"> <ul style="letter-spacing:normal!important;list-style:none!important;margin:0 0 30px!important;padding-left:0;float:left;width:485px;font-family:Arial,sans-serif!important;"> <li style="letter-spacing:normal!important;font-family:Arial,sans-serif!important;display:block;vertical-align:baseline!important;padding:30px 0!important; border-bottom:1px solid #ebf0f2!important; color:#777!important; font-size:12px!important; line-height:20px!important;float:left;width:485px;"> <h3 style="letter-spacing:normal!important;font-family:Arial,sans-serif!important;float:left;width:373px;margin:0; font-size:16px!important; font-weight:bold!important;"><a style="color:#16a8d3!important; text-decoration:none!important;" href="http://www.houselogic.com/blog/repair-tips/home-tools-closet-bath/" target="_blank">Home Tool Hacks From Your Closet and Bath</a></h3> <p style="letter-spacing:normal!important;font-family:Arial,sans-serif!important;margin:0;float:left;width:373px;">If you’re tool-less (but not clueless), here’s how to use everyday beauty items to fix, patch, and repair your home. <a target="_blank" style="color:#16a8d3!important; text-decoration:none!important;" href="http://www.houselogic.com/blog/repair-tips/home-tools-closet-bath/">Read</a></p> <div style="clear:both;"></div> </li> <li style="letter-spacing:normal!important;font-family:Arial,sans-serif!important;display:block;vertical-align:baseline!important;padding:30px 0!important; border-bottom:1px solid #ebf0f2!important; color:#777!important; font-size:12px!important; line-height:20px!important;float:left;width:485px;"> <div style="letter-spacing:normal!important;font-family:Arial,sans-serif!important;position:relative!important; float:left!important; width:100px!important; padding:0 12px 0 0!important;"> <a href="http://www.houselogic.com/blog/whats-really-green/energy-savings-at-home/" style="letter-spacing:normal!important;font-family:Arial,sans-serif!important;color:#16a8d3!important; text-decoration:none!important;"> <img style="border:0 none;" src="http://c0263062.cdn.cloudfiles.rackspacecloud.com/content/images/sized/energy-savings-at-home_1x1_0b76ee5a63c1b31ec7fe52b873650ad0_jpg_80x80_q85.jpg" alt="Going to extreme measures for home energy savings" title="energy-savings-at-home" /> </a> </div> <h3 style="letter-spacing:normal!important;font-family:Arial,sans-serif!important;float:left;width:373px;margin:0; font-size:16px!important; font-weight:bold!important;"><a style="color:#16a8d3!important; text-decoration:none!important;" href="http://www.houselogic.com/blog/whats-really-green/energy-savings-at-home/" target="_blank">Are You Looking for Energy Savings in All the Wrong Places?</a></h3> <p style="letter-spacing:normal!important;font-family:Arial,sans-serif!important;margin:0;float:left;width:373px;">Ack! Our energy costs are going up because too many of us are making the wrong judgment calls about how to save energy. Here’s why we’re having a disconnect. <a target="_blank" style="color:#16a8d3!important; text-decoration:none!important;" href="http://www.houselogic.com/blog/whats-really-green/energy-savings-at-home/">Read</a></p> <div style="clear:both;"></div> </li> </ul> <div style="float:left;width:485px;"> <p style="letter-spacing:normal!important;font-family:Arial,sans-serif!important;margin:0 0 12px!important; color:#000!important; font-size:12px!important;">Visit <a style="color:#16a8d3!important; text-decoration:none!important;" href="http://www.houselogic.com">houselogic.com</a> for more articles like this.</p> <p style="letter-spacing:normal!important;font-family:Arial,sans-serif!important;margin:0 0 12px!important; color:#000!important; font-size:11px!important;"> Copyright 2012 NATIONAL ASSOCIATION OF REALTORS®</p> </div> </div> About Pamhttp://www.blogger.com/profile/10466621219890355537noreply@blogger.com0tag:blogger.com,1999:blog-7672515292364839077.post-77993723063102582692012-07-19T12:53:00.001-07:002012-07-19T12:58:20.027-07:00Turned Down for a Refinance? Don’t Take No for an AnswerWhen a lender says you don’t qualify for a mortgage refinance, you may be able to fix what’s wrong or find another lender willing to step up.
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The five things that most often stop a refinance from going through:
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Your home is worth less than your current mortgage (also known as being underwater).
Your credit score is too low.
You can’t document your income.
The lender thinks you’re not making enough money to cover your bills.
Your home is listed for sale.
You can overcome some of those five issues fairly quickly, but others will take time.
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Your owe more on your mortgage than your home is worth
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You have three options:
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1. Tell the lender you’ll bring cash to the closing table to create a downpayment on the new loan. For example, if your home is worth $100,000 and you owe $110,000 on your existing mortgage, bring the $10,000 difference between what you owe and what your house is worth. Plus, you’ll need to bring the minimum downpayment that the lender requires.
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If you’re seeking an FHA loan, add another 3.5%, or $3,500 in this example, to meet FHA’s minimum 3.5% downpayment requirement, suggests finance columnist Jack Guttentag, a professor at the Wharton School. Some loan programs requre a 5% minimum downpayment.
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Although the cash you bring to closing will help build equity, treat it as an expense when you calculate your refinancing costs, and when figuring if refinancing saves you money.
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2. Double check the accuracy of the appraisal, and share anything concrete with your lender that the appraiser doesn’t know. Check to make sure the information in the appraisal is correct, such as square footage and number of bedrooms and bathrooms. Note amenities, such as a deck, an extra-large lot, and green improvements, and make sure they’re properly valued.
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Guttentag cites the case of a home owner who knew an identical house across the street that sold for a low price because the home owners sold to a family member. The borrower got documentation of why the price was low, the lender ordered a new appraisal, and the refinance went through.
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3. See if you qualify for the federal program Making Home Affordable, which helps home owners in your situation, or a program run by your mortgage lender.
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Your credit score is too low
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These days, the minimum credit score you’ll need to get a mortgage is higher than what was required just a few years ago. It’s possible that even if your credit score hasn’t fallen, it’s now too low for you to refinance the loan you already have.
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In general, the lowest acceptable credit score is 620. To get the best rates, you need a 740 or higher, says Keith Gumbinger of HSH.com, one of the nation's largest publishers of mortgage loan information.
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To overcome a low credit score:
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Improve your credit score by paying down credit card debt and paying all bills before they’re due. Avoid credit-repair scams.
Get an FHA loan. They cost more up front and over the life of the loan, but FHA takes borrowers with weaker credit.
You can’t document your income
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Today, lenders make you prove every dime of income you use to qualify for your refinance. To ensure consideration:
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Report all your income to the IRS on your tax returns. You need a two-year income history to refinance.
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Try applying for a mortgage at a local bank that holds onto the mortgage loans it makes instead of selling them. These banks can make their own rules about loans. Try credit unions, community banks, or lenders recommended by the REALTOR® who sold you your home.
Apply for a loan from the “Bank of Mom and Dad.” Cash-rich relatives might welcome the chance to earn 4% by giving you a mortgage.
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Your lender says you’re not making enough money
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Lenders look at your monthly expenses and compare that with your monthly income to come up with debt-to-income ratios. Improve yours by either lowering your debt or increasing your income. Strategies include:
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Borrowing money from family members to pay down your debts.
Borrowing against your 401(k), if the advantages outweigh the risks for you. The cons are many, including the fact that you’ll pay a 10% early withdrawal penalty if you’re younger than 59 1/2. But it’s often a lower cost of borrowing. So do your homework.
Going with an FHA loan. FHA allows borrowers to qualify using the income of family members willing to co-sign your mortgage. The family member doesn’t have to own your house, but the person does have to meet the same underwriting requirements as the main borrower (that’s you) does.
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Your home is listed for sale
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Because it can take a year or more to sell your home in some areas, it’s possible you’ll want to pursue a refinance while your home is on the market. But lenders won’t grant a refinance mortgage while your home is listed for sale. Some lenders will give you a mortgage refinance the day after you take your house off the market, others make you wait 60 days. When you and your REALTOR® discuss taking your house off the market, ask her for a referral to a lender that won’t make you wait 60 days.
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If these tactics all fail, try waiting until the latest refinance boom ends and lenders aren’t so busy. “When lenders are scrapping for business, they’re more likely to work with you or take you though manual underwriting,” Guttentag says.
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By: Dona DeZube
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Published: November 1, 2011
.About Pamhttp://www.blogger.com/profile/10466621219890355537noreply@blogger.com0tag:blogger.com,1999:blog-7672515292364839077.post-25598876181245673962012-06-10T12:23:00.000-07:002012-06-10T12:23:51.783-07:00Carpool Cost Savings: $650 - $1,000The average American commutes to work 16 miles each way, and the average car gets under 23 mpg, which equates to about 7 gallons of gas per week to commute. At today's prices — $3.68 per gallon on average, as of this writing — that's about $25.75 a week, or nearly $1,300 a year!
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Share your ride and the gas bill with just one friend, then, and you each save $650 a year. Fill the car, and you each save nearly $1,000.
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And remember, the average car costs $9,000 to own, if you factor in gas, registration and insurance, maintenance and depreciation and other costs; if you halve or quarter the number of miles you drive, you'll also save on maintenance, and your car will last longer.
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If you're looking for help getting started, consult with Divide the Ride, eRideShare, CarPool World or other Web-based tools designed to help like-minded commuters find each other.About Pamhttp://www.blogger.com/profile/10466621219890355537noreply@blogger.com0tag:blogger.com,1999:blog-7672515292364839077.post-57198344247964267692012-05-28T20:57:00.002-07:002012-05-28T21:00:33.778-07:00Color Me Happy!Colors have the power to change your mood and your outlook on life! Keep reading to find out how to color your home happy.
Over the years researches have attempted to understand and harness the true power of color in the home and workplace. Their findings have filtered their way into everything from popular wall color to throw pillows and furniture.
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Our world is about visual experiences. We see displays at department stores and are drawn to items. We even buy items simply out of impulse because we like the way they look!
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We use color to elicit moods in all sorts of social situations. A red cocktail dress can mean excitement and fun. A black gown can be somber or elegant. A beige room with neutral accents can create peace and calm.
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When it comes to our homes it's too easy to play it safe or worse yet too easy to pick the wrong color for the wrong mood.
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First, when it comes to design avoid competing patterns or colors. If your happy color is on the walls then be sure your rugs and furniture are happily neutral. Pick one focal point and play the room around it.
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The queen of mood-lifting paint colors of course starts with yellow. It's charming, fun, and oh-so welcoming. Soft yellows can still be classic and relaxing, perfect for traditional decor, all while adding a touch of whimsy to your room. A soft buttercream or daffodil color is a great accent color for kitchens and baths, where you want spaces to appear light, bright, and clean.
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If you are wanting to be really, really happy then consider turning up the volume on your yellow and going canary. Pick one accent wall and then accessorize with modern, clean-lined accents. Not bold enough to paint the walls yellow? Then incorporate yellow accents (pillow, throws, frames, and vases) throughout the space.
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Pink is another cheerful hue that can work well with youthful spaces. Soft, baby pinks are wonderful for nursery spaces. Bolder, more claret rose color tints can be used in living rooms and outdoor spaces. This color trend can be a beautiful accent for Moroccan designs. Match up your pink with crisp, white molding or a fantastic area rug of muted colors.
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The third color for a happy room is apricot. This sun-drenched color is the tasteful way to use orange. Apricot has a delightful way of reminding homeowners of summer days and of beautiful sunrises, both happy occasions!
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Yellow, rose, and apricot. What wonderful ways to bring happiness to your home!
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by Carla HillAbout Pamhttp://www.blogger.com/profile/10466621219890355537noreply@blogger.com0tag:blogger.com,1999:blog-7672515292364839077.post-86307632062127586482012-05-06T22:34:00.000-07:002012-05-06T22:46:14.023-07:00How to Buy a Gas GrillWith models priced from $29 to $5000 and up outdoor gas grills offer convenience and ease-of-use to fit any budget.
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Cost range: $29-$5,000 and up
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Likely additional costs: Assembly, natural gas hookup or propane tank, cover
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Average life span: 2-16 years
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Sub-$50 range
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Grills in the sub-$50 range are often of the tabletop propane variety. These units are constructed of thin painted sheet metal and cheaply fabricated components, all but guaranteeing a short lifespan. Brief 90-day warranties don't offer much of a safety net.
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When it comes to power, these grills are positively entry level, says Marguerite. The single, 12,000 BTU burner is satisfactory for grilling hamburgers and hot dogs but will be far less successful at charring a thick porterhouse. Still, when it comes to portability, these grills have no equal. If you are looking for a highly mobile tailgating grill, look to this sector of the market.
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$50-$150 range
The biggest differences between a $50 gas grill and a $150 grill will be size and fuel source. Boasting cooking areas over twice that of their less expensive counterparts, these grills are the most economical options for families.
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Models in this price range run on liquid propane stored in large refillable tanks (as opposed to the small disposable cylinders). Construction quality is moderate, featuring lightweight steel or aluminum bodies. However, the boost in price over the cheapest gas grill models yields an extra burner (albeit a low-powered one). Most are furnished with thin, steel-rod cooking grates that may warp from exposure to high temperatures, such as those from flare-ups.
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$150-$350 range
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Marguerite says buyers in this price range can expect to get "middle of the road" power, with burners putting out around 20,000 BTUs. Shoppers should expect a three- or four-burner grill, a roomy cooking surface, and perhaps even a storage cabinet and side burner—a separate burner used for boiling water or other independent cooking chores.
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With widths of 20 to 24 inches and boasting around 400 square inches of grill surface, these units can simultaneously cook about two dozen burgers. Homeowners in cool climes who grill year round likely will lament the thin-body construction, says Marguerite. "These grills do a poor job of retaining heat in cold weather," he says. At this price range, expect less-expensive porcelain-coated steel cooking grates that tend to chip, rust and need replacing at a cost of $30 to $60.
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$350-$600 range
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Constructed of heavy cast-aluminum or thick-gauge steel, and utilizing high-quality stainless steel burners, these units are built to last. Parts that do fail will be covered by five- to 10-year warranties.
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Averaging between 400 and 500 square inches of cook surface, these units are not substantially larger than those in the $150-$350 category. But they are constructed of heavy cast aluminum or thick-gauge steel and utilize multiple high-quality stainless steel burners. Heavy-duty castors and solid-built carts make it easy to move these grills from spot to spot.
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Grills in this category can handle enough food for 15 to 18 people. Buyers are urged to select a burner configuration that appeals to them as some models arrange them front-to-back versus side-to-side, which can complicate indirect cooking.
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$600-$1,500 range
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Units starting around $600 feature burners that reach 40,000 BTUs, power that will make short work of even the largest barbecue payloads. Precision controls and even heat distribution give home cooks the ability to simultaneously sear, cook, and keep food warm. To step up to a 36-inch grill that approaches 900 square inches of cook space, a shopper should expect to spend at least $1,000.
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Constructed of high-quality stainless steel throughout, these grills will weather years of use. These first-class rigs often include heavy cast-iron grates, side burners, under-grill storage, and even a rotisserie spit and motor. Buyers also get the peace of mind that comes with improved customer service and best-in-class warranties that range from 10 years on burners to 25 years on the body.
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$1,500 to $5,000 range
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When you spend upwards of $2,000 on a grill, you’ll get a host of features and quality construction. These appliances boast six or more top-of-the-line burners. Almost standard issue these days is an infrared sear burner that can reach temps topping 700 degrees.
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Most include a rear-mounted rotisserie burner with motor, interior and exterior lighting, and even a spring-assisted lid for effortless opening. With the best grills also come the best warranties, typically covering most components for 10 to 25 years.
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Propane vs. natural gas
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Homeowners should decide before buying a grill whether they intend to fuel it with propane or natural gas, says Marguerite. While many grills can be converted for around $50, it is best to buy one factory engineered for one fuel type or the other.
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Owners of built-in units typically choose natural gas as there are no tanks that need filling and the cost to operate is roughly half that of propane. According to the U.S. Department of Energy's most recent figures, propane costs $20.47 per million BTUs compared to natural gas's $12.18. Assuming a homeowner grilled once a week, he or she can expect to pay about $40 per year for propane and $24 for natural gas. Marguerite says that his company charges $150 plus $7 per foot to connect a grill to a natural gas line.
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Suggested extras
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A good-fitting cover will extend the life of any outdoor appliance. Expect to pay between $30 and $50. Owners of propane powered grills should consider purchasing a $20 back-up tank so that a fully charged spare is always on hand. A $20 gas gauge will take the guesswork out of estimating a tank's contents.
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By: Douglas TrattnerAbout Pamhttp://www.blogger.com/profile/10466621219890355537noreply@blogger.com0tag:blogger.com,1999:blog-7672515292364839077.post-13852898386006490262012-04-28T21:39:00.001-07:002012-05-06T22:47:28.267-07:00Flavorful Landscapes–It’s a Growing TrendNothing beats the flavor of a fresh-from-the-garden tomato; warmed by the sun, plucked right from the plant and eaten in the garden. And the good news, you don’t need much space. Many gardeners have and more will continue to grow food in containers or mixed in with their flowers, shrubs, and other ornamental plantings.
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Save the sunniest spots in your landscape for tomatoes, peppers, eggplants, cucumbers and other vegetables where you eat the flowers or fruit. They produce their best and have the fewest disease problems when grown in eight to twelve hours of sunlight. Root crops such as beets, radishes, and carrots can get by with about a half of a day of direct sun and leafy crops like lettuce and spinach can still produce in a shady location with only 4 hour of sunlight.
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Get your garden off to a good start. Use a quality potting mix when growing in containers. It should have good drainage and retain moisture. In the garden, prepare the soil before planting. Add several inches of compost, peat moss or other organic matter to the top 6 to 12 inches of soil. This improves drainage in heavy soils and increases water holding capacity for sandy or rocky soils. Add a slow release fertilizer like Milorganite to the soil or potting mix. This goof proof organic source of nitrogen meets the EPA Exceptional Quality standards and will help encourage growth without interfering with flowering and fruiting.
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Jump start the season with the help of floating row covers. These polypropylene fabrics let air, light, and water through, while trapping the heat near the plants. The best part, you won’t need a hammer, nail, or other tools. Simply lay the fabric over your planting, leaving enough slack for the plants to grow and anchor the edges to the ground with stones, boards or other items.
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Increase your harvest with intensive planting techniques. Succession planting, several plantings of short season crops in the same space, can double or triple your harvest. Interplant quick-to-mature crops like radishes and lettuce, in between longer maturing plantings of cabbage, tomatoes or eggplant. The short season vegetables will be ready to harvest just about the time the bigger plants are crowding them out.
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Consider planting vegetables closer together in wider rows. You’ll waste less space for pathways, putting more room in plantings. Make sure each plant has enough space to grow and that you can reach all planted areas to weed and harvest
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Provide proper care and get ready to harvest and enjoy a bountiful harvest from your own garden.
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Gardening expert, TV host and author Melinda Myers has 30 years of horticulture experience and has written over 20 gardening books, including “Can’t Miss Small Space Gardening.” She hosts the nationally syndicated “Melinda’s Garden Moment” segments which air on TV and radio stations throughout the U.S. She is a columnist and contributing editor for “Birds & Blooms” magazine, hosted “The Plant Doctor” radio program for over 20 years as well as “Great Lakes Gardener” on PBS. Melinda has a master’s degree in horticulture, is a certified arborist, and was a horticulture instructor with tenure. Myers’ web site is www.melindamyers.com
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By Melinda MyersAbout Pamhttp://www.blogger.com/profile/10466621219890355537noreply@blogger.com0tag:blogger.com,1999:blog-7672515292364839077.post-85275345390334031622012-02-24T11:00:00.001-08:002012-02-24T11:00:51.089-08:00Smartphones May Increase Your Identity Theft RiskDaily Real Estate News | Thursday, February 23, 2012 Your smartphone may be putting you at increased risk for identity fraud, according to a new report issued by Javelin Strategy & Research. <br />
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According to the report, nearly 12 million Americans last year became victims of identity theft, an alarming 13 percent increase over 2010 numbers. Seven percent of those victims came from using the smartphone, the report says.<br />
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The report blamed smartphones and social media for making more Americans vulnerable to identity theft. The report says that Americans tend to be less cautious when using their smartphone or logged onto social media sites. Letting their guard down and not taking safety precautions can easily make them a target. <br />
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Sixty-two percent of smartphone users were found to not password protect their home screens, according to the report. As such, if you happen to misplace your phone, anyone can gain access to the device if you do not have a password on it. <br />
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Smartphone users also need to be careful about what apps they download. Some apps can contain viruses or can compromise your personal information. The report says services such as iTunes monitors apps and is a safer place to download apps than directly from a Web site page.<br />
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As for social media users, they can increase their chances of identity theft by revealing too much personal information online. For example, social media users should be more cautious about revealing information such as birth dates, where they went to high school, phone numbers, and additional personal information. <br />
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The report also warns Americans to be careful when you log onto a public wifi network and be cautious about the information you share, which may be more at risk. <br />
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Source: “Rise in Identity Fraud Tied to Smartphone Use,” Reuters News (Feb. 22, 2012)About Pamhttp://www.blogger.com/profile/10466621219890355537noreply@blogger.com0tag:blogger.com,1999:blog-7672515292364839077.post-73546768739592300412012-02-16T09:47:00.000-08:002012-02-16T09:49:50.735-08:0010 Common Errors Home Owners Make When Filing TaxesDon’t rouse the IRS or pay more taxes than necessary — know the score on each home tax deduction and credit.<br />
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Sin #1: Deducting the wrong year for property taxes<br />
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You take a tax deduction for property taxes in the year you (or the holder of your escrow account) actually paid them. Some taxing authorities work a year behind — that is, you’re not billed for 2011 property taxes until 2012. But that’s irrelevant to the feds. <br />
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Enter on your federal forms whatever amount you actually paid in 2011, no matter what the date is on your tax bill. Dave Hampton, CPA, tax manager at the Cincinnati accounting firm of Burke & Schindler, has seen home owners confuse payments for different years and claim the incorrect amount.<br />
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Sin #2: Confusing escrow amount for actual taxes paid<br />
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If your lender escrows funds to pay your property taxes, don’t just deduct the amount escrowed, says Bob Meighan, CPA and vice president at TurboTax in San Diego. The regular amount you pay into your escrow account each month to cover property taxes is probably a little more or a little less than your property tax bill. Your lender will adjust the amount every year or so to realign the two.<br />
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For example, your tax bill might be $1,200, but your lender may have collected $1,100 or $1,300 in escrow over the year. Deduct only $1,200. Your lender will send you an official statement listing the actual taxes paid. Use that. Don’t just add up 12 months of escrow property tax payments.<br />
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Sin #3: Deducting points paid to refinance<br />
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Deduct points you paid your lender to secure your mortgage in full for the year you bought your home. However, when you refinance, says Meighan, you must deduct points over the life of your new loan. If you paid $2,000 in points to refinance into a 15-year mortgage, your tax deduction is $133 per year.<br />
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Sin #4: Failing to deduct private mortgage insurance<br />
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Lenders require home buyers with a down payment of less than 20% to purchase private mortgage insurance (PMI). Avoid the common mistake of forgetting to deduct your PMI payments. However, note the deduction begins to phase out once your adjusted gross income reaches $100,000 and disappears entirely when your AGI surpasses $109,000. Also, unless Congress acts to extend the PMI deduction again, 2011 is the last tax year for which you can take this deduction.<br />
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Sin #5: Misjudging the home office tax deduction<br />
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This deduction may not be as good as it seems. It's complicated, often doesn’t amount to much of a deduction, has to be recaptured if you turn a profit when you sell your home, and can pique the IRS’s interest in your return. Hampton’s advice: Claim it only if it’s worth those drawbacks. If so, here's what to know about what you can write off.<br />
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Sin #6: Missing the first-time home buyer tax credit<br />
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While the original home buyer tax credit deadline passed in April 2010 (and isn’t available in 2012), military families and some government workers on assignment outside the U.S. were given an extension until April 30, 2011, to get a home under contract and take advantage of up to $8,000 in tax credits for first-time buyers and $6,500 in credits for repeat buyers.<br />
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It applies to any individual (and, if married, the individual’s spouse) who serves on qualified official extended duty service outside of the United States for at least 90 days during the period beginning after Dec. 31, 2008, and ending before May 1, 2010.<br />
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Sin #7: Failing to track home-related expenses<br />
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If the IRS comes a-knockin’, don’t be scrambling to compile your records. Many people forget to track home office and home maintenance and repair expenses, says Meighan. File away documents as you go. For example, save each manufacturer's certification statement for energy tax credits, insurance company statements for PMI, and lender or government statements to confirm property taxes paid.<br />
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Sin #8: Forgetting to keep track of capital gains<br />
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If you sold your main home last year, don’t forget to pay capital gains taxes on any profit. However, you can exclude $250,000 (or $500,000 if you’re a married couple) of any profits from taxes. So if you bought a home for $100,000 and sold it for $400,000, your capital gains are $300,000. If you’re single, you owe taxes on $50,000 of gains. However, there are minimum time limits for holding property to take advantage of the exclusions, and other details. Consult IRS Publication 523. <br />
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Sin #9: Filing incorrectly for energy tax credits<br />
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If you made any eligible improvement, fill out Form 5695. Part I, which covers the 30%/$1,500 credit for such items as insulation and windows, is fairly straightforward. But Part II, which covers the 30%/no-limit items such as geothermal heat pumps, can be incredibly complex and involves crosschecking with half a dozen other IRS forms. Read the instructions carefully.<br />
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Sin #10: Claiming too much for the mortgage interest tax deduction<br />
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You can deduct mortgage interest only up to $1 million of mortgage debt, says Meighan. If you have $1.2 million in mortgage debt, for example, deduct only the mortgage interest attributable to the first $1 million.<br />
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This article provides general information about tax laws and consequences, but shouldn't be relied upon by readers as tax or legal advice applicable to particular transactions or circumstances. Consult a tax professional for such advice; tax laws may vary by jurisdiction.<br />
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By: G. M. Filisko ~ Published: January 5, 2012About Pamhttp://www.blogger.com/profile/10466621219890355537noreply@blogger.com0tag:blogger.com,1999:blog-7672515292364839077.post-65341286869703632872011-07-28T01:02:00.000-07:002011-07-28T01:05:43.964-07:00Playing Nice with NeighborsIt happens to the best of us. When it comes to decisions about our home, we can get quite territorial. How can you handle neighborly disputes and still play nice?<br />
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The first rule of neighbors is to treat others the way you would want to be treated. There is a common misconception among the prideful that respect is earned and that only when others treat you with respect will you return the favor. This sentiment is entirely backwards. You need to treat everyone with respect from the start. Respect breeds respect.<br />
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It's also easy to keep our blinders on to other people's needs and perspectives. Perhaps you have the money to fix a fence and assume your neighbor has the same. It is quite likely that your preferences, tastes, and finances are different from your neighbor's.<br />
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Be willing to see things from their perspective. Take a moment during any conflict to see the situation through their eyes. Maybe those trees partially obstruct your view, but provide your neighbors with shade during the heat of the day.<br />
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Next, unless there's unlawful behavior taking place that needs to be reported to the authorities, be sure to talk to your neighbors first about an issue before lodging a formal complaint. They may be unaware that their noise or mess is offending anyone. Many people assume that things are fine unless someone says something.<br />
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When you bring up issues to neighbors, leave your attitude and condescension at home. This gets you nowhere, except deeper into conflict. Be kind, direct, and leave the blame game at home. Simply let them know what the issue is and, if needed, what you see as a possible solution.<br />
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During this conversation it's important to listen. What is your neighbor saying literally and through body language?<br />
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Keep in mind that neighbors often live next door for decades. You don't want to let a minor issue become a dark cloud that hangs over your home. There is a time to fight and there's a time to let things go. While some people see letting things go as a sign of weakness, it can actually be a sign of wisdom.<br />
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Compromise isn't always an easy word to swallow. It can mean giving up some of your wants. Yet, this is what living in a community with others means. It is not "Youtown," but rather a wonderful collective of individuals. You may get a new fence, but one that is priced more cheaply. You may still get to have your band practice on the weekends, but need to practice at an earlier time or a lower volume.<br />
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With all that said, sometimes you'll encounter neighbors who are too enveloped in their own lives to see the needs and wants of others. If you have a neighbor that suffers from this self-absorbed affliction, then it is time to either accept the situation as it is, or to take the next steps to remedy it. You may need to contact the HOA, authorities, or a lawyer. Do this only as a last resort.<br />
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Most of the time, however, you can find a middle ground if you start with respect.<br />
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Published: July 28, 2011 by Carla HillAbout Pamhttp://www.blogger.com/profile/10466621219890355537noreply@blogger.com0tag:blogger.com,1999:blog-7672515292364839077.post-77611604312129414712011-07-19T11:43:00.000-07:002011-07-19T11:43:01.356-07:00CALIFORNIA ASSOCIATION OF REALTORS® applauds Gov. Brown on signing SB 458 into lawThe CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) applauds Gov. Jerry Brown on signing SB 458 (Corbett) into law. SB 458 extends the protections of SB 931 (2010), to ensure that any lender that agrees to a short sale must accept the agreed upon short sale payment as payment in full of the outstanding balance of all loans. <br />
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Under previous law (SB 931 of 2010), a first mortgage holder could accept an agreed-upon short sale payment as full payment for the outstanding balance of the loan, but unfortunately, the rule did not apply to junior lien holders. SB 458 extends the protections of SB 931 to junior liens. <br />
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“The signing of this bill is a victory for California homeowners who have been forced to short sell their home only to find that the lender will pursue them after the short sale closes, and demand an additional payment to subsidize the difference,” said C.A.R. President Beth L. Peerce. “SB 458 brings closure and certainty to the short sale process and ensures that once a lender has agreed to accept a short sale payment on a property, all lienholders – those in first position and in junior positions – will consider the outstanding balance as paid in full and the homeowner will not be held responsible for any additional payments on the property.” <br />
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SB 458 contains an urgency clause making it effective upon signing. <br />
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Leading the way…® in California real estate for more than 100 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States, with nearly 160,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.About Pamhttp://www.blogger.com/profile/10466621219890355537noreply@blogger.com0tag:blogger.com,1999:blog-7672515292364839077.post-29457318665011166602011-07-13T10:49:00.000-07:002011-07-13T10:49:17.569-07:00The Top ‘Lifestyle Factors’ When Home ShoppingIf you want to make a sale, selling the lifestyle in a community or neighborhood is becoming an important piece of the presentation of a home, according to a new survey. One in five home owners have moved or would like to move because they don’t think their neighborhood or community is a good fit to their lifestyle, according to a recent survey of more than 1,000 home owners and future home buyers<br />
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The majority of those surveyed said they would place more weight on lifestyle factors–such as family-friendly neighborhoods or easy access to cultural activities like museums and music venues–when shopping for a future home. The survey was conducted by Better Homes and Gardens Real Estate LLC and and Meredith Corp.<br />
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“While the relation of price to features has become very favorable in many areas throughout the country, ultimately the surrounding community may determine how happy you are with your home purchase,” says Sherry Chris, president and CEO of Better Homes and Gardens Real Estate LLC, which used the survey results to launch a “Lifestyle Search” tool on its web site to help buyers factor in community preferences–such as “arts and recreation” and “family and community”–more in their search.<br />
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Here are some of the top lifestyle priorities survey respondents reported they’ll be looking for in their next home:<br />
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Ease of commuting by car: 38% <br />
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Access to health and safety services: 34% <br />
Family friendly neighborhood: 33% <br />
Availability of retail stores: 32% <br />
Access to cultural activities: 21% <br />
Public transportation access: 19% <br />
Nightlife and restaurant access: 18% <br />
Golf friendly area-access to golf courses: 6% <br />
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This article was provided by Melissa Dittmann Tracey, REALTOR® MagazineAbout Pamhttp://www.blogger.com/profile/10466621219890355537noreply@blogger.com0tag:blogger.com,1999:blog-7672515292364839077.post-44912806161970320692011-07-12T19:20:00.000-07:002011-07-12T19:24:21.884-07:00Your Small Home: 5 Big Reasons to Love ItThere's plenty to love about small homes--they're easier to maintain, and the price tag is generally lower. Image: Ross Chapin Architects/www.rosschapin.com<br />
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A small home packs plenty of perks, and generally means a lower asking price. But entry price is only one factor—they’re easier on the pocketbook in a host of ways.<br />
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1. Lower property taxes. Your small home will be charged at a lower tax rate than its larger neighbors because the assessed value generally is lower.<br />
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2. Lower property insurance. The smaller the house, generally the lower the insurance cost, although it also matters where you live and how your small house is constructed. A brick house in wildfire-prone southern California is likely to cost less to insure than a similar-size house with wood siding.<br />
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3. You’ll save on heating and cooling. That’s regardless of how energy efficient the house is. In fact, one study indicates that a poorly insulated, 1,500 sq. ft. house is at least $200 cheaper per year to heat and cool than a well-insulated house twice that size. The U.S. Energy Information Administration says homes of 2,000 sq. ft. to 2,500 sq. ft. use an average 102.3 million BTUs of fuel yearly—13% less than homes that are 1,000 square feet larger.<br />
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4. Save on major replacements. When you need to replace a major house component or system, you’ll be glad you’re living in a smaller home. For example: According to the Cost vs. Value Report from Remodeling Magazine, the national average for vinyl replacement siding is about $9 per sq. ft.<br />
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For a modest-size house (1,500 sq. ft. of living space) with 1,740 sq. ft. of exterior wall space, that’s $15,660. For a 2,500-sq.-ft. house, you’ll pay up to $10,000 more!<br />
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5. Easier maintenance. You’ll spend less time cutting those smaller lawns, cleaning gutters, washing windows, and the umpteen other chores that home ownership involves. Figure 16 windows and sliding glass doors on a home of 2,000 square feet or less would take about 10 hours to clean, inside and out, twice a year. Double the house size, and that’s roughly 20 hours spent with a squeegee and rag.<br />
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Living in a small home has the benefits of lower insurance rates, less hassle, and less overall cost to own.<br />
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Article compliments of Terry SheridanAbout Pamhttp://www.blogger.com/profile/10466621219890355537noreply@blogger.com0tag:blogger.com,1999:blog-7672515292364839077.post-53889778816832275332011-07-12T12:25:00.000-07:002011-07-12T12:25:40.759-07:006 Best Places for Business, CareersTo find cities with the most jobs and lower costs of doing business, you’ll have to venture to the heartland, according to Forbes’ 13th annual Best Places of Business list. Eighty percent of the top 25 regions on Forbes’ list this year are from the center of the United States. <br /><br />Forbes’ rankings evaluate 200 metro areas, factoring in job growth (past and projected), costs (business and living), income growth, projected economic growth, and educational attainment. <br /><br />Demographer Bert Sperling says the heartland’s success is largely due to its “extractive industries,” such as oil, gas, and mining and record-high crop prices that have added jobs. <br /><br />“These economies run in cycles, and these booms and busts are often decades in the making,” Sterling says.<br /><br />Many of the cities topping the list also boast at least one strong university and strong entrepreneurial activity.<br /><br />Here are the top six cities to make Forbes’ list: <br />Raleigh, N.C. <br />Des Moines, Iowa <br />Provo, Utah <br />Lexington, Ky. <br />Fort Collins, Colo. <br />Nashville, Tenn.<br /><br />Source: “Raleigh Tops Forbes’ Best Places for Business 2011,” Forbes.com (July 11, 2011)About Pamhttp://www.blogger.com/profile/10466621219890355537noreply@blogger.com0