Pet Fact
Households spent an estimated $45 billion on their pets in 2009.
Source: American Pet Products Manufacturers Association
2010 Kitchen and Bath Design Trends
Before you start a kitchen or bath renovation, consider these top design trends for 2010, according to the National Kitchen
and Bath Association.
The most popular kitchen design style is traditional, followed by contemporary, while the Shaker style is showing a strong resurgence. White and off-white shades are popular for kitchens, while beige and bone are more popular for bathrooms.
Cherry and maple wood cabinets are the most popular choices for kitchens, while alder is gaining popularity. The most common finishes are medium natural, dark natural, glazed, and white painted.
Hardwood flooring in kitchens will dominate in 2010, but ceramic, porcelain and natural stone tile remain popular for both kitchens and baths. Granite is still king for countertops and vanities, but quartz is gaining popularity.
In both kitchens and baths, brushed nickel is the most popular finish, followed by stainless steel and satin nickel. For bathrooms, white fixtures are the most common, followed by bisque and off-white.
French door and freezer-bottom refrigerators are popular, while under-counter refrigerator drawers and under-counter wine refrigerators are being incorporated in many of the latest kitchen designs.
In the kitchen, pull-out and pot-filler faucets offer more flexibility for at-home cooks. Combination cooktop-wall oven ranges are becoming more popular while ranges with induction stovetops are more energy efficient. More dishwasher drawers are being installed in kitchen designs for their convenience and their ability to wash small loads of dishes in each drawer, thus saving water and electricity.
Keeping Your Financial House in Order
Do you have difficulty managing your finances, paying bills on time or finding important receipts or documents when you need them? The Financial Fitness Association offers several guidelines that can help you keep your financial life in order.
Tax returns and their supporting documents should be kept at least three years. It may be helpful to set up file folders with different headings, such as 1099s, medical expenses, and business expenses. As you receive tax
documents or pay an expense, put the accompanying document or receipt in the appropriate file.
Have a plan to keep important legal documents, such as wills, powers of attorney, birth certificates, marriage documents, divorce papers, child care orders, trust documents, business agreements and military records, permanently. Wills should be kept in an easily accessible place, and a copy should be kept in a safe deposit box and with your attorney. Note the location of the original will on the copies.
Some documents need to be kept only for as long as they are needed. For example, deeds and real estate documents should be kept for as long as you own a property, plus any additional period for tax purposes. Insurance policies, loan documents, investment information, receipts and warranty information on major purchases should also be kept for as long as you hold the policy, loan, investment or purchase.
Keep monthly bank statements for at least three years to document payments for important items. Cancelled checks may be discarded since the bank statement itemizes these payments, with the exception of those checks that support any tax deductions you might have. Credit card statements can be kept for a year to track expenses or to document a disputed charge.
Following a simple system to keep financial and legal documents organized enables you to find these items more easily, thus saving time and giving you some much-needed peace of mind.
CAFFEINE!
March is National Caffeine Awareness Month. Approximately 80 percent of the world’s population consumes caffeine on a daily basis.
Hidden Treasure
Tax day is just around the corner, and many homeowners forget that they’re sitting on a wealth of potential savings — in their home. Tax deductions for homeowners are plentiful, so keep these guidelines in mind as you prepare your return this year.
Remember that the mortgage on your home is deductible — at least the real estate taxes, qualifying interest and premiums, for a loan up to $1 million, according to the IRS. Note that fire or homeowner’s insurance premiums and the principal mortgage amount are not deductible. Here’s how to calculate what’s deductible: Enter your total real estate taxes for the year, and enter the number of days in the property tax year that you owned the property. Divide the number of days by 366, and multiply that number by your total real estate taxes for the year.
First, know that if you deduct home expenses, you have to file form 1040 (also known as the long form) and itemize your deductions on Schedule A. While it can be a headache, the rewards might be worth it.
Paid off your mortgage early? The penalty you might have received is tax deductible as home mortgage interest, as long as it’s not for a specific service performed or a cost connected with your mortgage loan.
You may have heard that home repairs can qualify for tax deductions, but home improvements are the real winners. An improvement is classified as anything that adds to the value of the home — for instance, making a room handicapped accessible or adding a deck to the back of your home. Always keep receipts and records — and remember, if you borrowed money for that improvement, the interest on the loan is tax deductible, just as it is with the mortgage payments.
Another item many homeowners forget is deductions for loan origination fees, better known as “points.” One point is equal to 1 percent of your loan. Depending on how many points you’ve accumulated, you may be eligible to deduct them. There are rules about deducting points, but a financial professional can help you sort through them.
And finally, don’t forget that if you upgraded to energy-efficient Energy Star windows, stoves or water heaters, those may be eligible for a tax credit. Check www.energystar.gov to see if your improvements are included.
Most Popular Dog?
The Labrador Retriever has held the top spot for Most Popular Dog in America for the past 18 years.
App Orchard
Buying or selling your house? There’s an app for that. Well, not exactly, but there’s plenty of high-tech help available to guide you through the process.
The iZillow app gives you access to data on more than 80 million homes, including square footage and an estimate of fair market value. Take a drive around your possible new neighborhood and see home values pop up on your phone with real-time real estate info.
Get real-time mortgage rates from hundreds of lenders nationwide with the Mortgage Marvel app. Use it to compare rates and fees — prices reflect transaction-related pricing adjustments, such as loan amount, loan-to-value ratio and property type — and view disclosure information for all rates. When you’re ready, you can select a lender, fill out an application and be approved.
The RulerPhone app lets you use your iPhone as a tape measure to see if your couch will fit in your prospective new home. Place any credit-card-sized card next to an object, take a picture with the phone and align your image with the card placeholder displayed on-screen. A ruler will be displayed, allowing you to adjust the measurements with the drag of a finger.
The ExpertVideo: Home Repair app brings valuable home repair how-to videos to the palm of your hand. More than 20 videos are available, covering how to repair concrete steps, paint kitchen cabinets or patch a drywall hole. Still have questions after watching? A moderated discussion panel gives you the answers.
Keep home improvements and routine maintenance tasks organized with the Homeowner Calendar app, featuring a calendar of monthly tasks, such as checking smoke alarms, cleaning air filters or cleaning your gutters. Alerts let you know when tasks are coming up, and the application allows for custom additions.
Find all these apps at www.apple.com/iphone/appstore.
Living Color
Тhe leading expert in color, Pantone, Inc., has made it official: Turquoise is the “it” color for 2010. But before you deck the house from top to bottom in the gemstone hue, consider the other latest color trends.
Behr paint company says neutral is still in — think light colors such as grays, camels and off-whites. Experts suggest buying bigger furniture such as sofas or armchairs in these safe colors, which never truly go out of style. Complement neutrals with aqua and gold tones, but stay away from darker browns, which are becoming passé.
While monochromatic schemes are still versatile and dependable, HGTV says the real winners in the color game right now are bold jewel colors such as ruby red or emerald green, and the brighter the better — especially if it’s a purple hue. Experts advise pairing these daring tones with a smoky charcoal or a softer black to give a room a vintage feel.
Going green and getting back to nature is a major trend, too. Earthier tones, such as sand or yellow-greens, are perfect for living rooms or kitchens. But going back to your roots doesn’t just mean dipping into Mother Earth’s favorite colors. Decorators say Asian-inspired or tribal patterns are adorning decorative elements as consumers look to get the most bang for their buck. Think pillows, area rugs or murals as key items this season.
Homeowners Keep Remodeling Projects Small
Amid concerns about the economy, homeowners are moving ahead with remodeling plans, but are focusing on smaller projects, according to two separate surveys. In Remodeling Magazine’s 2009-10 Cost vs. Value report, which compares national and regional remodeling costs for 33 popular remodeling projects, homeowners who opted to hire contractors for home remodeling projects in 2009 most often tackled small-scale jobs and replacements.
Exterior replacement projects (doors, windows, etc.) continue to recoup the most dollars at resale, which makes them attractive to homeowners looking to improve curb appeal. Replacements are also among the least expensive projects to complete. Entry door replacements (steel), which recoup nearly 129 percent of their costs at resale, returned the most on investment. Other high-ranking cost-vs.-value projects were siding replacements, attic bedrooms and deck additions.
Projects that recouped the least were home-office remodels, sunrooms, upscale master suites, upscale garage additions
and upscale bathroom additions. Median home values $137,600 $172,600 Buyers buying single-family homes 82 percent 78 percent Buying in suburban neighborhoods 46 percent 54 percent Beginning their home search online 37 percent 90 percent Married couples buying a home 68 percent 60 percent Single women home buyers 15 percent 21 percent Single men home buyers 7 percent 10 percent Median age of home buyers Age 39 Age 39 Source: National Association of REALTORS®
For project data for the 80 U.S. cities surveyed, visit Remodeling magazine’s Web site at http://www.remodeling.hw.net/2009/costvsvalue/national.aspx.
A Service Magic survey also finds that after a brief slowdown in 2009, homeowners are moving forward with their remodeling plans, with a focus on improving the most important areas in their home like bathrooms and kitchens, as well as smaller-scale projects, like countertops. More homeowners also are adding home theaters and computer rooms to personalize their homes for the long-term. While kitchen and bathroom remodels remain popular, fewer owners are tackling larger projects, such as home additions and remodels of multiple rooms.
Home-Buying Trends: Then and Now
1999 2009
US Census
60 percent of Americans believe the U.S. Census is very important or somewhat important to our country, and 81 percent say they plan to participate in the 2010 Census survey.
Source: Pew Research Center survey, January 2010.