Realty World – Viking Realty

By: John Riha
Published: March 25, 2011
 Kitchen remodeling can turn a ho-hum room into your home’s pride and joy. Here are strategies to help your project run smoothly. A significant portion of kitchen remodeling costs may be recovered by the value the project brings to your home. Kitchen remodels in the $50,000 to $60,000 range recoup about 69% of the initial project cost at the home’s resale, according to recent data from Remodeling Magazine’s Cost vs. Value Report.
To make sure you maximize your return, follow these seven smart kitchen remodeling strategies.
1. Establish priorities
The National Kitchen and Bath Association (NKBA) recommends spending at least six months planning your kitchen remodeling project. That way, you won’t be tempted to change your mind during construction  and inflate construction costs. Here are planning points to cover:  Cooking traffic patterns: A walkway through the kitchen should be at least 36 inches wide. Work aisles should be a minimum of 42 inches wide and at least 48 inches wide for households with multiple cooks.
Child safety: Avoid sharp, square corners on countertops, and make sure microwave ovens are installed at the proper height—3 inches below the shoulder of the primary user but not more than 54 inches from the floor.
A professional designer can simplify your kitchen remodel. Pros help make style decisions, foresee potential problems, and schedule contractors. Expect fees around $50 to $150 per hour, or 5% to 15% of the total cost of the project.
2. Keep the same footprint
No matter the size and scope of your kitchen remodel, you can protect your budget by maintaining the same footprint: Keep the walls, locate new plumbing fixtures near existing plumbing pipes, and forget bump-outs.  Not only will you save on demolition and reconstruction costs, you’ll cut the amount of dust and debris your project generates.
3. Get real about appliances
It’s easy to get carried away during your kitchen remodeling project. A six-burner commercial-grade range and luxury-brand refrigerator may make eye-catching centerpieces, but they may not fit your cooking needs or lifestyle.  High-priced appliances are worth the investment if you’re an exceptional cook. Otherwise, save thousands with trusted brands that receive high marks at consumer review websites, like www.ePinions.com and www.amazon.com, and resources such as Consumer Reports.
4. Light your way
Good kitchen lighting helps you work safely and efficiently.  Install task lighting, such as recessed or track lights, over sinks and food prep areas; assign at least two fixtures per task to eliminate shadows. Under-cabinet lights illuminate cleanup and are great for reading cookbooks. Pendant lights over counters bring the light source close to work surfaces.
5. Be quality conscious
Functionality and durability should be top priorities during kitchen remodeling. Resist low-quality bargains, and choose products that combine low maintenance with long warranty periods. Solid-surface countertops, for instance, may cost a little more, but with the proper care, they’ll look great for a long time.
6. Add storage, not space
Here’s how you can add storage without bumping out walls:  Install cabinets that reach the ceiling: They may cost more–and you might need a stepladder–but you’ll gain valuable storage space for Christmas platters and other once-a-year items. In addition, you won’t have to dust cabinet tops.
7. Communicate early and often
Establishing a good rapport with your project manager or construction team is essential for staying on budget. To keep the sweetness in your project:  Drop by the project during work hours: Your presence broadcasts your commitment to quality.  Give your cell phone number to subs and team leaders.  Set house rules: Be clear about smoking, boom box noise levels, available bathrooms, and appropriate parking.
Related articles

Top 5 Remodel Projects For High ROI (dobbsferry-rivertowns.com)
Kitchen Remodeling on a Budget: Tips & Ideas (dawnrajda.wordpress.com)
2010-2011 Best Value Home Renovation Projects (bargaineering.com)
Remodel or Move? (athomesense.wordpress.com)

Total number of units are delinquent (past 30 days late) on their assessments.
Pending litigation exists AGAINST the association.
One entity (individual, investment group, partnership or corporation) owns more than certain % of the total number of units.
Commercial space makes up more than certain % of the total ownership (not total number of units) of the association.
No more than certain % of the total number of units can be rentals.

MBA President and CEO David Stevens urges Congress to reinstate the increased conforming loan limits that expired at the end of September; upon expiration, conforming loan limits in many high-cost areas fell from $729,750 to $625,000, which MBA said hampers the ability of many borrowers to obtain FHA- and government-sponsored enterprise-backed mortgages.
“The reduction of the FHA and GSE loan limits formula from 125 percent to 115 percent of median area home price will impact approximately 593 counties in 42 states,” Stevens noted. “Additionally, the reduction of the limits in high-cost areas will affect approximately 75 counties in 13 states. The MBA urges the Senate to act quickly on this extension to prevent further damage to our nation’s housing market.”
The letter went to Senate Majority Leader Harry Reid, D-Nev.; Minority Leader Mitch McConnell, R-Ky.; Senate Appropriations Committee Chairman Daniel Inouye, D-Hawaii; and Committee Ranking Member Thad Cochran, R-Miss.
The Senate is expected to consider the appropriations bill later this week.  

What is a loan modification?  A loan modification is when your mortgage terms, rate and payments are modified to reach an affordable monthly payment. You must meet certain criteria to qualify for the most popular loan modification program provided by the government which is called HAMP or Home Affordable Modification Program.
There are various reasons why homeowners are trying to get a loan modification.    One of the main reasons is due to a job loss which becomes a financial hardship.   And the question is  ‘Can I do my own loan modification?’.  The answer is YES. If you, the homeowner, is willing to spend time on the phone and do some paperwork, then you can do it.
The first thing a homeowner should do is call their lender (mortgage company), request for the loss mitigation department and ask for a loan modification package.    This will let them know that you are willing to work with them on getting your loan back on track.   They will give you a list of items that they want.  These items can include proof of income, hardship letter which states why you can’t pay the current mortgage, bank statements, and so on.  Be honest and provide what they are asking for and let them know your situation.  The lenders do not want to hear sob stories but just the facts and a summary of your ability to repay your loan.
If the lender doesn’t respond quickly, be patient.  There is a process and many homeowners, like you,  have submitted their requests, too.   At the same time, keep detailed records of all your calls. Once contact is made, write down the name of the person with whom you spoke, his or her identification number, the date and time of your conversation and a summary of what was said. Also make copies of all your correspondence and other paperwork. Lenders tend to lose things.
Avoid SCAMS from companies who offer services to do your loan modification for a fee.  That is illegal.  Only pay for services rendered, if any.  The main thing is keep informed, keep pushing and stay in communication with your lenders.  Nothing will kill your chances of modifying your loan than not communicating your situation to them and waiting until the last  minute to work something out.

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Trying to decide how to get to your next vacation?  Should you fly, drive, take a train etc.?  Which one will be more cost effective.  which mode of transportation will leave a bigger carbon footprint?  Now you can go to www.cost2drive.com to find out!  First, you enter where you are leaving from and where you will be going.  Then you put in the year make and model of your car it will calculate  the cost.  You can even compare it to the cost of flying if your vacation trip is far away.
Related articles

Fly or Drive? I can’t decide. Now I don’t have to (gadling.com)
Summer Travel: What’s the Cheapest Way to Go? (bargaineering.com)

The New York Times

Program will pay homeowners to sell at a loss
In an effort to end the foreclosure crisis, the Obama administration has been trying to keep defaulting owners in their homes.  Now it will take a new approach: Paying some of them to leave.
To read the full story, please click here.

Los Angeles Times
Many borrowers in default stay put as lenders delay evictions
Despite being months behind, many strapped residents are hanging on to their homes, essentially living rent-free.  Pressure on banks to modify loans and a glut of inventory are driving the trend.
To read the full story, please click here.

The Wall Street Journal
What home sellers don’t tell buyers
As buyers ease back into the battered real-estate market, they’re often hitting a stumbling block:  Fibbing by home sellers.  Buyers should do their own due diligence and not rely on agents and sellers.

To read the full story, please click here.