Gunning Daily News
March 1, 2012 6:00 pm
Blanket mortgage. Single mortgage that covers more than one real property, i.e. –a house plus the vacant lot next door.
March 1, 2012 6:00 pm
Q: Are there ways to save money when using a contractor?
A: Be an educated consumer: aggressively shop for the most reasonable bid, not necessarily the cheapest. Inexpensive, but shoddy, work will only cost you more money in the long run. After you find a contractor, insist that trade discounts on materials be passed on to you, or buy materials yourself. Root out any unnecessary costs written into the contract, and compare payment alternatives – flat vs. hourly rates, for example – and negotiate the more reasonable of the two. Also, do part of the project yourself. Disassembly and prep work can save you hundreds of dollars.
March 1, 2012 6:00 pm
The bedroom of today is evolving into a sanctuary for rejuvenation and relaxation, with colors inspired by nature; bedding that mixes high quality cotton and other natural materials; and furnishings that provide luxury in the form of comfort.
According to Fawni Hill, vice president of interior design for Larick Alan Hill Architects, while other rooms in the home are getting smaller, bedroom design is trending toward a larger master suite. "The bedroom is increasingly considered a sanctuary, a place to adjust the attitude and evoke the senses," says Hill.
"Trending colors are those found in nature such as sea gray blue, celery green, and the purples and violets you would see in mountains. These colors of earth, sea and sky physically calm us and have symbolic meaning of trust and commitment, of things you can always count on."
The Palo Alto-based interior designer says that fireplaces are now a common element in a bedroom master suite, as is the use of natural elements such as heated stone or hardwood floors and natural wool carpets.
Hill notes that she is seeing more luxury in the bedroom, but with a different spin. "Today's luxury doesn't necessarily equate to high cost, but rather high quality and comfort."
Source: McRoskey Mattress Company, http://www.McRoskey.com
February 28, 2012 6:12 pm
Q: How can I finance work needed on a fixer-upper?
A: According to the Millennial Housing Commission, few lenders are willing to administer home improvement loans. Most prefer to make home equity loans or unsecured consumer loans because they are easier to manage. Home improvement loans usually require inspections and irregular draws on the loan amount as work is completed, which requires regional or national lenders to find local partners to provide oversight.
Financing repairs and improvements with home equity is okay for most homeowners, but it is difficult for many first-time buyers. They have lower-incomes, smaller savings, and have made lower down payments on their homes than first-time buyers a decade ago. So they have little equity to borrow against. Unfortunately, it is often lower cost older homes purchased by first-time buyers that need the most work.
Unless you have a cash reserve, you will have to shop around for the best borrowing terms. In addition to the options listed above, you can ask relatives for a loan. Borrow against your whole life insurance policy. Refinance your existing mortgage and take out cash. Get a second mortgage. Contact the government about home improvement programs. And – as a last resort – borrow from a finance agency, which generally charge high rates.
February 28, 2012 5:12 pm
Spring is just around the corner! Get ready for the world to bloom. Even though this season has been historically mild, it’s still time to say goodbye to the snow and sleet and get ready for springtime. With that in mind here are 5 decorating ideas from the designers at Lamps Plus, to help you say goodbye to those cold and drafty winter blues.
Break out of winter by adding the new colors of spring to your home. Advises Lamps Plus design expert and Corporate Interior Design Manager Lynda Gould, “Look to nature for organic color tones to bring to indoor rooms. I love adding tones of green through pillows and glass accents. For brighter pops of color, I really like using yellows and hot oranges.”
Redecorate Your Porch
“I love relaxing on the porch during those first days of spring,” says Lynda. “The front porch is such an underutilized part of most people’s homes. With just a little accessorizing it can become a real focal point with great curb appeal.” To maximize the use of the porch, Lynda suggests adding a new outdoor rug to help define the space and add comfort under-foot. “I like to arrange outdoor furniture around the rug to create a cozy conversation area. You can add planters to the area for a bit of color and greenery that will look good all season long.”
Make a Bright Impression with Lighting
New lighting can totally remake and revitalize an outdoor space or a room, notes Lynda. ”You can instantly restyle a porch area with new outdoor lighting which will also help you enjoy the area longer into the night. If you have a larger covered porch, consider installing an outdoor ceiling fan. These add a real sense of luxury and comfort to a seating area.”
Take the Indoors Outside
Make the transition from the front porch to your inside rooms smooth and flowing with coordinating colors and décor accents, advises Michael Murphy, designer and Style Illuminated design blog writer. “If the colors and textures of the porch and indoor furniture share similar elements, you’ll be able to tie the two living spaces together. This helps bring the outside world of spring inside, refreshing your indoor living areas, and it helps take your indoor style to the great outdoors.” Michael likes to use pillows, indoor rugs, wall art and accessories to blend the looks of the two areas. “This is a great tip no matter what the season, but it is especially wonderful to do in the spring.”
Re-Style the Backyard Patio
For many of us the more private space of the backyard patio is a natural place to relax and entertain. Not only do most patios extend from kitchen and dining room areas, but they also are a gateway to garden areas and lawns. You can make your patio spring-ready by adding just a few key accessories, says Marcia Prentice, Lamps Plus designer and blogger. “The same ideas that apply to porches will also work with backyard patios, but the scale is a little different. On the patio you want comfortable outdoor seating ideas for eating and entertaining larger groups. I like having lots of umbrellas on hand because even in the spring sitting in the sun can be uncomfortable, and I also love adding table accents for serving drinks, lighting for BBQ cookouts and other accessories for entertaining.”
February 28, 2012 5:12 pm
Technology is constantly speeding up the pace of business: Decisions once delayed for weeks are now made in seconds thanks to internet communication.
Computer analytics puts real-time market information at our fingertips. Transactions can occur anywhere, any time.
Logic holds that businesses that can’t keep up will be left behind.
“Just to keep pace, businesses must develop organizational agility, and it’s absolutely critical if they want to do more than just survive,” says Mike Richardson, author of Wheel$pin: The Agile Executive’s Manifesto: Accelerate Your Growth, Leverage Your Value, Beat Your Competition
Organizational agility is being able to move quickly and decisively, and one of the biggest obstacles is unproductive, time-wasting meetings he says.
“They start late, run long, and don’t achieve much,” he says. “But meetings are the backbone of an agile business.”
He offers these tips for developing agile meetings with traction:
• Map your meeting: Create a standing agenda and a master spreadsheet with tabs relevant to each agenda item with the expected inputs, throughputs and outputs. That way, the meetings are easy for the chairman to run because everything is crystal clear.
• Set the mood: Set the tone for the energy level by playing a video or music. You can tell a story, read a quotation, or be unpredictable and create a surprise factor.
• Spark creativity: Frame the purpose of the meeting as a question: How do we best …? Questions get the human brain thinking more quickly.
• Document the action live: Instead of taking notes, editing them and distributing them afterward, save time by capturing everything electronically in real time. You can project action items for all to see during the meeting, and keep them in a master spreadsheet hosted on your server for easy access by all.
• Time-box everything: Meetings should last 45 minutes, from 5 after the hour to 10 minutes to the hour. Allot time for each agenda item and especially for presentations. Get people used to the fact that you will guillotine anything which runs over. When you challenge people to figure out how to get things done in the time allotted, you will be amazed at how they can.
• Leverage the wall-space: Wall space is one of the most underutilized assets in your business. Have the standing agenda on the wall, creative problem-solving frameworks, your core values, key elements of your strategic plan, inspirational quotations, etc., all in a format large enough for you to refer to during the meeting.
• Generate input: Have everyone take a minute to write down an idea relevant to the agenda item. Go around the table and allow each person to share his or her idea, or break into pairs or triads to discuss the ideas and report back. (Remember to allot time for each step of the process.)
• Get fast consensus: Once the options are on the table, facilitate the group toward fast decisions with statements and questions like: “I’m leaning toward this …”; “Does anyone have a violent objection to that?”; “Can everyone get behind that?”; and then move them into fast action: “How would we best do that?”
“Agility is the ability to be constantly looking for opportunities to move forward toward goals while planning for problems,” Richardson says. “It’s being able to capitalize on fleeting opportunities, rebound from problems and make decisions on the turn of a dime.”
Creating agile meetings is one big step toward creating an agile organization which is in traction.
Mike Richardson is president of Sherpa Alliance Inc., a management support business and a chair with Vistage International, a global collaborative of CEOs.
For more information, visit www.mydrivingseat.com.
February 28, 2012 5:12 pm
With gas prices hitting an all time February high and the current national retail average price for a gallon of self-serve regular gasoline hanging at $3.65, many drivers are anxious about what to expect in the coming months.
"Every driver is impacted by the increased cost of fuel," says Marshall L. Doney, AAA National Vice President, Automotive, Financial Services and e-Business. "There are several easy things drivers can do to stretch each tank of gas and find the lowest fuel prices when it is time to fill up."
AAA provides these fuel-saving tips and advice to consumers:
Properly inflate tires
Only 17 percent of cars have all four tires properly inflated, yet the U.S. Department of Energy reports that proper tire inflation can improve fuel economy by up to three percent. It's important not only to check tire pressures at least once a month, but also make sure it's done correctly; a survey found 85 percent of motorists don't know how to properly check tire pressures. Check the pressures when the tires are cold and have not been driven recently. Tires should be inflated to pressure levels recommended by the vehicle manufacturer, NOT the pressure levels stamped on the tire sidewall. The proper pressure levels can be found on a sticker on the driver's side door jamb or in the owner's manual.
Be gentle on the gas and brake pedals
One of the easiest and most effective ways to conserve fuel is to change driving styles. Instead of making quick starts and sudden stops, go easy on the gas and brake pedals. If there is a red light ahead, ease off the gas and coast up to it rather than waiting until the last second to brake. Once the light turns green, gently accelerate rather than making a quick start. The U.S. Department of Energy reports aggressive driving can lower a car's fuel economy by up to 33 percent.
Let AAA find lowest gas prices
Drivers equipped with the AAA TripTik Mobile iPhone application can find the lowest gas prices close to home or on the road. Using AAA TripTik Mobile, the first free app to offer frequently updated gas prices, motorists can compare fuel costs at stations near to their location or in a specified area. The AAA app's GPS technology enables users to quickly locate stations on a map and see the price for all available grades of gasoline. Visit AAA.com/Mobile. AAA's TripTik Travel Planner also provides gas station locations and fuel price information.
Drive the speed limit
Slowing down to observe the speed limit is safer and can conserve fuel. The U.S. Department of Energy reports that each 5 mph driven over 60 mph is like paying an additional $0.24 per gallon for gas. Leave yourself plenty of time to reach your destination to avoid feeling rushed so you can arrive safely and with a little more fuel in the tank.
Plan errands in advance
When running errands, try to combine multiple tasks into one trip. Several short trips starting with a cold engine each time can use twice as much gas as a longer multipurpose trip covering the same distance when the engine is warm. Also, plan the route in advance to drive the fewest miles. Online mapping tools are available to help plan routes.
Lighten the Load
A heavier vehicle uses more fuel. Lighten your vehicle by cleaning out the trunk, cargo areas and passenger compartments. Also try to avoid using a car's roof rack to transport luggage or other equipment—especially over long distances on the highway. A loaded roof rack affects the vehicle aerodynamics and creates extra drag that reduces fuel economy.
Keep up-to-date on vehicle maintenance
Keeping a car running properly helps achieve maximum fuel economy. Be sure to follow the vehicle manufacturer's recommended maintenance schedule, and do not ignore vehicle warning lights that indicate something is wrong. Warning lights can signal problems that will greatly decrease a car's fuel efficiency.
February 28, 2012 5:12 pm
If there’s one thing everyone wants, it’s more time, and that’s exactly what we have this year. A once every four-year phenomena of the calendar known as Leap Year is providing us with 24 extra hours today, February 29.
For some, the day will come and go with little to show for it. However, you can use the extra hours to make a difference in their financial lives. The National Foundation for Credit Counseling (NFCC) suggests that consumers dedicate this gift of time to tackling the financial tasks they may have been putting off.
• Prepare federal income taxes. Gather all 1099s, W-2s, and receipts related to eligible deductions. Whether filing on your own or through a professional, these items will be needed to prepare an accurate return.
• Create or organize a home financial center. Since the financial documents are out, create files for each category. This step will help you stay organized all year long, and will make preparing next year’s tax return much simpler.
• Review all insurance policies. The time to become familiar with insurance policies is not when you make a claim. Insurance is not something to buy and forget, as life changes often dictate adjustments to the policy. Make an appointment with your insurance provider to confirm that your current needs match your coverage.
• Review retirement contributions. Due to the payroll tax cut, working Americans now have extra money in their paychecks. The best use of this money could be increasing the retirement contribution at work. Make sure to maximize the benefits of an employer match and age-related allowable contribution increases.
• Order your credit report and score. With good reason, people are very interested in their credit score. However, many do not realize that the score is based on the information in the credit report. In spite of it being free through http://www.annualcreditreport.com, the NFCC Financial Literacy revealed that 65 percent of Americans had not ordered their credit report in the last 12 months. The credit score didn’t fare any better, with 63 percent of respondents indicating they’d not ordered their score. Even though there will be a small fee charged to obtain the credit score, it will be money well-spent, as these three numbers dictate much of your financial future.
“Those who use the extra time afforded by Leap Year to accomplish these five financial moves will wake up March 1st with a well-earned sense of accomplishment,” says Gail Cunningham, spokesperson for the NFCC. “The efforts they put forth on this bonus day will yield rewards throughout the year.”
February 28, 2012 5:12 pm
Binder. Short purchase contract used in some areas to secure a real estate transaction until a more formal contract can be signed at a later date; usually accompanied by an earnest money deposit.
February 27, 2012 5:58 pm
It’s wintertime and the living is dreary. If you’re like many people, you’re coping with bone-chilling temperatures and gray skies by daydreaming of sandy beaches, emerald golf courses, and cool drinks sipped on warm, breezy balconies. Yes, it’s vacation planning season again. You’d love to book a charming seaside cottage or rustic mountain cabin for your spring or summer vacation—but recent reports of vacation home scams have you worried.
It’s true: Lately, there’s been a rash of news stories about would-be vacationers who went online, found the perfect house or condo, paid the rental fee—and showed up to find an occupied residence that was never for rent at all. Yet as scary as these stories are, they shouldn’t stop you from going the vacation rental route, says Christine Karpinski.
“There are many wonderful rental properties out there that are completely legitimate—and only a few scammers,” says Karpinski, author of How to Rent Vacation Properties by Owner, 2nd Edition: The Complete Guide to Buy, Manage, Furnish, Rent, Maintain and Advertise Your Vacation Rental Investment.
“To reject the whole concept of renting a great home instead of a hotel room because someone else had a bad experience is like deciding not to have children because you saw the movie The Bad Seed.”
Karpinski says the benefits of staying in a vacation rental home far outweigh the minimal risks. These properties are more spacious and often less expensive than hotel rooms. They’re appointed with all the comforts of home (because, of course, they are homes). They’re private. They tend to be kid friendly. Often, they’re pet friendly as well.
Plus, by taking certain precautions, you can make the likelihood of getting scammed almost non-existent, she insists.
That said, here are eight tips to help you safely book your vacation home in today’s environment:
• Beware of super-cheap rates. If it seems too good to be true, it probably is. The most common way scammers work is by enticing a large number of travelers in a short period of time. They do this by low-balling the rental rates.
“If one listing is, say, half the price of all other comparable ones for the same amount of time, beware,” cautions Karpinski. “Put yourself in the owner’s shoes: Why would he or she voluntarily forgo that much income? Five, ten, or maybe even fifteen percent off, perhaps, but fifty percent? No way.”
• Do some digging to make sure the owner really is the owner. Many states make it easy to look up property tax records. Google the property appraiser in the county where the property is located to make sure the person you are renting from actually owns the property. You might also Google the homeowner’s association and look for a phone number on the website. Call the HOA and ask if the owners really are the owners.
“Now, some of the tax records might show that the property is owned by an LLC or trust. But that information actually serves as an extra barrier against being scammed,” says Karpinski. “The rental agreement should mention the LLC or trust. If it doesn’t, call the owner and ask. He or she should be able to tell you the name of this legal entity without hesitation.”
• Cyber-stalk the owner. Do some cross-referencing across various websites: Facebook, Twitter, LinkedIn, and so forth. Make sure the place of residence (where the owner lives—not where the vacation home is located) is the same as the information the owner provided.
“If, for instance, you were renting one of my vacation homes in Florida, you’d see that I always provide my guests with my home and cell phone numbers,” says Karpinski. “My home number is a 512 area code. Now, if you looked me up on LinkedIn, my public profile says that I live in Austin, TX, which would match the info I provided.”
Also, she suggests Googling the phone number listed on the advertisement. Many property owners and managers list their homes on many different websites. If you Google the phone number listed on the ad in this format XXX XXX-XXX (area code, space, first three digits, dash, last four digits) many other websites that the property is listed on should show up in search results.
• Look for clues in the reviews. When you are reading the reviews of the property (either on the vacation rental website or on other sites such as TripAdvisor.com), there are sometimes references to the owners’ names. A review might say something like: “Thanks, Tom and Christine, for allowing us to rent your lovely home…” If the names in the reviews do NOT match the name of the person renting the home to you, it could be a sign that something is not right.
“Also, a lot of times the owner’s name and/or the housekeeper’s name will be in the review,” notes Karpinski. “If you see several reviewers thanking Mary for her wonderful hospitality, and the woman you’re dealing with is named Mary, it’s probably a legitimate listing.”
• Speak with the owner via phone. Sure, it’s possible to be scammed over the phone. However, it’s usually easier to fool someone when you’re communicating via type. If the owner sounds warm and engaging and seems to know her stuff, you’re probably okay. If she sounds guarded or uncertain, you might have reason to worry. Also, says Karpinski, when you get someone on the phone, you can ask specific questions—and listen carefully to the answers.
“Ask about the local area,” she suggests. “Ask about the best restaurants, the most unusual attractions, and so forth. If you get quick, natural answers, it’s probably not a scam. If the owner hesitates, or if you hear the sound of her Googling furiously, you would likely be suspicious.”
• Pay only by credit card. Don’t use PayPal, don’t send a personal check, and NEVER, EVER pay by wire transfer, advises Karpinski.
“Scammers are less likely than legitimate property owners to have a credit card merchant account set up,” she says. “And even if you were to still get scammed, you’d be able to call your credit card’s fraud prevention center and report it.”
• Go with one of the major vacation rental websites. You’re probably safest choosing a site like HomeAway, VRBO, FlipKey, or Airbnb. Of course, a respected name doesn’t guarantee a 100 percent safe transaction—there have been instances of owners having their e-mail accounts hijacked by scammers—but the major websites tend to have better safeguards in place.
• Listen to your gut…it’s often right. Do your research. Call the property owner. Listen carefully to everything he or she has to say. If something just feels “off,” move on to another property, advises Karpinski.
“Scammers usually count on people not paying attention, not heeding their intuition,” she says. “That still, small voice exists for a reason. Listen to it.”
Renting a vacation home is like anything else, insists Karpinski. It’s not risk-free, but when you take these steps to mitigate the risk, you can feel 99.9 percent confident that you’re not getting scammed—and these are pretty good odds.
Christine Karpinski is the author of How to Rent Vacation Properties by Owner, 2nd Edition: The Complete Guide to Buy, Manage, Furnish, Rent, Maintain and Advertise Your Vacation Rental Investment and Profit from Your Vacation Home Dream: The Complete Guide to a Savvy Financial and Emotional Investment.