Its Not That Bad, Really

The press has created a panic that the housing market is crumbling and the sky is falling. Why they aren’t reporting on both sides of the issue is beyond me. Here is what I do know. Central Pennsylvania is a financially conservative area. The types of mortgages that caused the so called mortgage crisis were not a popular choice among Central Pennsylvanians. The type of mortgage that did the most damage was called a “Pay Option ARM.” A Pay Option Arm is mortgage that has payment options. The homeowner could choose a minimum payment (like a credit card), however if they paid the minimum the balance would go UP! They could choose an “Interest Only” payment, where they would only pay the interest (the balance would stay the same). They could pay a full payment based on a 15 year Term, or a full payment based on a 30 year term. The payments were only “fixed” for 6 months to 5 years depending on the product. These mortgages were designed for Executives, or people that received the bulk of their money large commissions once or twice a year. For example an Executive with a salary of $150,000, but gets a performance bonus of $200,000 every January could pay the minimum or interest only, then pay down the principle in January when he got his bonus. Instead these mortgages were sold to people with lower socioeconomic needs to get them a low payment. These people only paid the minimum or the interest only. When the values of their homes went down they owed more or the same as what they paid for them. They then could not refinance when the mortgage adjusted or “reset.”

Most Central Pennsylvanians chose to go with a “normal” 30 year fixed mortgage or 15 year fixed mortgage. Because of this we actually had positive appreciation in 2007, unlike some areas of the country that home values were stagnating or declining. If you have good credit, some savings, and a job that you report your income, now is an excellent time to remodel! Interest rates are low and the market will eventually rebound and your home will appreciate even more.

The areas of most concern for the government were Florida, California, Arizona, and Nevada. The reason for this is the aforementioned “Pay Option ARM” and that these are fantasy areas where people move chasing dreams of luxury, wealth, and sunlight that are not real. A mortgage broker in Florida told me that one in three homeowners in Florida live out of state and have other homes. You most likely are going to have your vacation home or investment property go into foreclosure then you are the main roof over your head.

In summary, Central Pennsylvania offers stable property values, stable sales, stable lending institutions and if you are on the fence, it is ALWAYS wise to remodel at the bottom of a market, than at the top of the market. The death of sub-prime has brought about renewed interest in programs that most people forgot about. Programs such as VA, USDA and Pennsylvania has its own PHFA. All programs that Velocity Financial Services offers. Please check out our newly designed web site at www.velocityfinancialservices.com.

Garden Benches - A Classic Accent for Your Outdoor Space

Garden benches are one of the most fundamental forms of outdoor furniture - you can make one of your own with little more than two similarly sized and level objects and a sanded wooden board. Though the concept of a bench is rather simple, garden benches can be fashioned in ornate styles that represent baroque/rococo era or sleekly stylized to suit modern tastes. The appeal of garden benches, regardless of the style in which they are made, is their versatility in an outdoor space. Garden benches can be placed where other pieces of garden furniture rarely go - smack dab in the middle of a flower garden, up against the wall of house, directly beneath a tree, along side a sidewalk, etc.

Garden benches are the equivalent of a welcome sign that you can sit on. If you place a garden bench along side the sidewalk in front of your house, passers-by can use it as a place to rest before they continue on their morning stroll. When set beneath trees, garden benches welcome guests to sit and enjoy the shade if not but for a moment. When against a wall on the front porch, garden benches welcome people into a home. And when in the middle of a garden, garden benches invite people to take the time to sit and watch the garden grow. After all, there is no better place to watch a garden grow than from right in the middle of it.

But as you may already know, garden benches are much more than just places to sit. They are pieces of garden décor; in a manor of speaking, they are art. Whether being admired from afar or from within sitting-distance, you can be sure that your garden benches will be admired. It is wise to choose one that you yourself will enjoy viewing, just choose a painting to suit your sofa.

If you think that your garden or your yard is missing something, consider whether or not garden benches can fill that void - it is not always plants and flowers that a garden needs! Interestingly enough, it is often the furniture and décor that can make a garden feel completed. A garden bench might just be the perfect finishing touch for your garden.

And no matter what your tastes, if you look long enough, you are going to find some garden benches that match them. There are concrete garden benches, wooden ones, marble ones, metal ones, and more. There are ones with backs and ones with cushions, ones that double as storage devices, and ones that are curved and some that are straight. There truly is a great variety of garden benches that can be placed in your yard or on your patio.

Even if you choose to have very little outdoor furniture, a garden bench is still a piece that you should consider setting up in your yard. Remember: garden benches are so much more than seats; they are art!

Constructing Backyard Beauty

Building an outdoor fireplace is a huge commitment. Most of these fireplaces are permanent structures and will remain a part of your home for many years. This means that they have to remain attractive to you and any future owners of your property. This is why outdoor fireplace plans are vital before undertaking this type of construction plan.

Obviously the first thing to consider when building an outdoor fireplace is where to place it. Many people choose to put a fireplace near the pool or on a deck that is used for entertaining.

Be sure to choose a spot that compliments the house and other structures on the property. Also choose a spot that is ideal even if you change the landscaping or setup of your yard. Remember, the fireplace is permanent. You have to be happy with your placement decision. If you have any doubts, hold off on construction until you are completely sure.

The next thing to consider is what type of fuel you are going to burn in your fireplace. Wood fireplaces will require the installation of a chimney whereas gas fireplaces will require other venting structures. Keep in mind that the addition of a chimney or the exclusion of one may affect the overall look of your fireplace.Next you will need to choose your materials. Most outdoor fireplaces are constructed with beautiful stone and brick. The interior of the fireplace is constructed of aluminum alloy and/or cast iron. There are a wide variety of stones that can be used in constructing your fireplace so this could be the most enjoyable part of your construction project.

Now all you have to do is look through construction plans and/or pictures of other fireplaces to choose the look of your fireplace. There are many styles to choose from so this could be a bit overwhelming. You can even customize your fireplace to make it perfectly accent your home and property. Once you have done this, it is time to begin construction and start enjoying your outdoor fireplace.

Increase home value by adding outdoor-living space

Increasing a home's value is typically thought of as requiring months of construction and thousands of dollars.

However, taking home renovations outdoors to create a unique living space can take minimal time and provides valuable square footage.

In fact, three of the four types of home-improvement projects that significantly increased a home's value at the time of resale were exterior upgrades, according to The National Association of Realtor's "2007 Remodeling Cost vs. Value Report."

The improvements include replacing siding, adding decks and upgrading windows. Other upgrades that increase a home's value include landscaping, outdoor lighting and outdoor kitchens.

With recent housing market fluctuations, it's more important than ever to make economical home upgrades. Expanding outdoor-living space adds valuable square footage to the home, but it's also functional. Increasing outdoor-living space creates another area of the home where people can cook, play, entertain and relax, ultimately increasing the home's value.

Some examples of outdoor rooms are covered eating areas next to the pool, covered outdoor-cooking spaces with refrigerators and gas grills and even outdoor home theaters.

Finding creative ways to increase home values can leave many homeowners at a dead end. But, by thinking beyond the four walls and taking design ideas outdoors a new world of possibilities opens up.

Which Renovation Contractor is Right for You?

Now that you've decided that it's time for that much needed home renovation project, do you know exactly what kind of renovation professional is the ideal choice of your project? In order to choose the most qualified home renovation professional, it's important to know which kind of renovator is best-suited for your particular project.

Home Renovation Professionals: Who Does What

Following is a list of various types of renovation professionals, and brief descriptions of the home renovation projects they are best qualified to perform.

• Renovation contractors are professional renovators who handle a variety of projects ranging from large to small. These contractors handle all aspects of your home renovation project, from initial design all the way through to completion. If you want someone who'll handle the entire project for you, inside or out, a renovation contractor should be your first choice.


• Specialty renovation contractors are those who concentrate in one particular area. Looking to renovate a kitchen or bathroom? The most obvious advantages for hiring a specialty renovation contractor for the job are specialized experience and knowledge, which can come in handy if your job involves maximizing a small kitchen or renovating an outdated bath on a tight budget.


• Trade contractors typically work with renovation professionals; however, if you only need a new roof or a new heating system for your home, you might choose to work with a trade contractor directly rather than hiring a renovation contractor.


• Not all renovation pros offer design or architectural services. If that's the case, you may need to hire a designer or architect to help you create your ideal space and draw up the necessary plans before your renovation begins.

As you can see, whether you're planning a complete renovation of your entire home, or just want to make your kitchen renovation as easy as possible, choosing the right type of renovation professional for the job is the perfect place to start.

Cooking Style Dictates Kitchen Design

Let Cooking Style Dictate Kitchen Design

As you plan your kitchen remodeling project, start by defining your cooking style. Do you:

• Spend hours cooking a meal on stainless steel appliances?


• Toss leftovers in a microwave oven?


• Cook as a team with your spouse or roommate?


• Care more about the kitchen design than the appliances?

Focus on Kitchen Cabinet Layout

The layout of your kitchen cabinets should reflect the way you cook. If you bake casseroles and cookies, look for granite countertops in the workspace and large ovens for cooking. If you use plenty of spices and large pots and pans, then add:

• High-quality stainless steel appliances.


• Built-in spice racks near the oven.


• Roll-out drawers near the oven or cooktop.
  

How Much To Spend on Kitchen Appliances?

Kitchen appliances are a big investment and can provide a big payback in the way the kitchen functions. For the novice cook, a $500 range might work fine. If you are a serious cook, look for:

• Stainless steel appliances with high BTUs and convection cooking.


• Warming drawers that fit in kitchen cabinets.


• Large capacity refrigerators that are built into kitchen cabinets.
  

Kitchen Designs for Quick Cooks

If your cooking style revolves around the microwave, look for appliances that help speed the cooking process. Many microwaves have computerized settings that let you store recipes, for example. Then make sure your kitchen design features:

• A layout that groups the appliances together.


• Kitchen cabinets with storage systems.


• Lots of kitchen cabinet space for storing prepackaged foods.

Kitchen Designs for Two Cooks

If two people in your household plan to cook together, then you'll need two workstations. The main granite countertop can provide the main workspace, while the island is used for food prep and baking.

Avoid Mistakes With Island Kitchen Cabinets

The beauty of having an island with kitchen cabinets is the added storage. Aside from the aesthetics of the fancy wood and countertop, you can store large platters, serving dishes, and small appliance in the cabinets. Here's how to avoid some common home improvement mistakes and get the most out of your cabinets.

Dividing Your Kitchen Cabinet Space

The size of your island and the cabinet space you allocate obviously plays a big part in your storage capacity. Many people forget, however, to plan how to divide the cabinet space. This can be a critical mistake, because you may end up with cabinets that are too narrow or the wrong configuration for your needs.

As you plan the width and depth of the kitchen cabinets, think about what you store in them. Will the island be used just for plates and platters or do you plan to prepare meals there? Do you need space for large serving platters, tall pots, or small appliances? Here are a few home improvement solutions to help maximize cabinet storage:

• Add wider cabinets (24 to 36 inch) for large serving platters



• Add a cabinet with deep drawers to store cooking utensils



• Add roll out drawers to store pots and pans

Consider Island Seating

Many people love to have seating around a kitchen island, but forget to plan their storage accordingly. You don't want to store the toaster you use every day in the cabinet below the bar stools, for example. Instead, plan to store items you use infrequently in those busy spots.

Involve Your Contractor

Some people forget to talk with their contractor about storage before the cabinets are installed. This can be a critical mistake, because it is costly to change the cabinetry afterwards. By talking with the contractor, you can help ensure the layout fits your functional needs and works with the contractor's structural parameters.

By adding an island with plenty of kitchen cabinet space you can greatly increase your storage capacity. The key to avoiding these common mistakes is to think about how you use the space, plan carefully, and involve your contractor.