Latest Estate Sale Treasure

Check out this awesome Mid Century Butler chair I picked up at a local Estate sale. This baby was screaming for a make-over!

The seat lifts to reveal a storage compartment and attached is a wooden hanger and tray. It was traditionally sold as a man's dressing chair and designed to hold shirts, pants, a jacket and accessories.

A couple trips to hobby lobby, a few broken nails, some cuss words and Voilà! The end result was well worth the headache. Imagine how beautiful this piece would be in a woman's bedroom, closet or bathroom.

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Fun Ways to Stage your Home Inexpensively

Are you looking for ways to make your home more appealing to buyers? Consider staging a couple rooms. DIY staging can be very cost-effective and the return will be rewarding. Begin by looking at your house objectively through the eyes of a buyer. Start outside. Are there any cosmetic items needing attention such as, a new coat of paint on the shutters or maybe a new flowerbed? How does your entry door look? Is it chipping? What about the door hardware? Does it function properly? Make sure that the porch lights are not burned out. These little items if left unattended can leave a bad impression about the quality and care of the rest of your home. Now, open your front door. What is the first thing you see? Is there an outdated entry light that could be replaced, or maybe a large wall that needs some attention? First impressions are key!

You don't have to spend thousands of dollars on home furnishings to create a warm and inviting feeling in your home. Remember...it's the small things that count. Hardware, light fixtures, new light bulbs (no buzzing sound when a light is flipped), and paint are an inexpensive way to make your home shine. Consider renting or buying an inexpensive table and dining set that can be displayed. This is also useful when you have a smaller kitchen. Show buyers how best to utilize the space. Lastly, the master bedroom is always a hot topic for the buyer. If possible, stage this room and use soothing colors such as, brown/green/cream).

If you have bold, eccentric colors on your wall, I highly recommend painting over with neutral colors (and neutral doesn't mean white...think earth tones). To add a pop of color use staging items such as, curtains or an accent chair and table. And keep it cost-effective. Add life through your fabrics...not your walls.

I'm a DIY girl and love to bargain shop. Take this $4 thrift store chair for example. I made one trip to hobby lobby for some fabric, spray paint, staples, and stitch glue. Total material costs = $26.49.  This chair would be a great staging item to add some life to a neutral room.

When it comes to staging have fun and keep it simple. Good luck and happy home selling. For more ideas and tips on selling your home, call me. I'm here to help! 720-261-8747

Mortgage rates near historic lows for third straight week!

Demand for purchase loans down 9.5% from a year ago

By Inman News

January 25, 2012

Mortgage rates were little changed this week, with rates on 30-year fixed-rate mortgages at or near 4 percent for the third week in a row, Freddie Mac said in releasing the results of its weekly Primary Mortgage Market Survey.

Rates on 30-year fixed-rate mortgages averaged 4 percent with an average 0.7 point for the week ending Nov. 17, essentially unchanged from 3.99 percent last week and close to the all-time low in records dating to 1971 of 3.94 percent seen during the week ending Oct. 6. At this time a year ago, rates on 30-year fixed-rate mortgages averaged 4.39 percent before climbing to a 2011 high of 5.05 percent in February.

Rates on 15-year fixed-rate mortgages averaged 3.31 percent with an average 0.7 point, little changed from 3.3 percent last week and close to an all-time low in records dating to 1991 of 3.26 percent seen during the first week of October. At this time a year ago, 15-year fixed-rate mortgages averaged 3.76 percent, before climbing to a 2011 high of 4.29 percent in February.

For five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) loans, rates averaged 2.97 percent with an average 0.6 point, down imperceptibly from 2.98 percent from last week and a hair above the all-time low in records dating to 2005 of 2.96 percent last seen during the week ending Nov. 3. At this time a year ago, rates on five-year ARMs were averaging 3.4 percent, before climbing to a 2011 high of 3.92 percent in February.

Rates on one-year Treasury-indexed ARMs averaged 2.98 percent with an average 0.6 point, up slightly from 2.95 percent from last week. The one-year ARM hit an all-time low in records dating to 1984 of 2.81 percent during the week ending Sept. 15.  At this time last year, the one-year ARM averaged 3.26 percent before climbing to a 2011 high of 3.4 percent in February.

Looking back a week, a separate survey by the Mortgage Bankers Association showed demand for purchase loans during the week ending Nov. 11 was down a seasonally adjusted 2.3 percent from the week before, and 9.5 percent from a year ago.

The survey, which included an adjustment to account for the Veterans Day holiday, showed demand for refinancings was down 12.2 percent from the week before, but that refi requests still accounted for 77.3 percent of all mortgage applications.

During October, the MBA said 50.6 of refinancing applications were for 30-year fixed-rate loans, while 28.8 percent of refi requests for were 15-year fixed-rate loans and 6 percent for ARM loans.
Among homebuyers, 85.5 percent sought 30-year fixed-rate loans, 6.9 percent sought 15-year fixed-rate loans, and 5.9 percent applied for ARM loans. That was the lowest ARM share for purchase loans since the MBA's Weekly Mortgage Applications Survey was rebenchmarked in January.

Rustic Wine Bottle Charms for Sale

These rustic ornaments look great as a decorative charm accessory on any wine bottle. A fun and unique gift idea: Perfect for dinner parties, housewarming, birthdays, and holidays.

Order online: http://www.etsy.com/shop/lindseyku
Or email for more details and custom pick-up / delivery options.

Outdated Hutch turns Hollywood Glam!

Here is my most recent DIY home remodeling project.

This was a beautiful hutch that we inherited from my husband's grandmother. The wood was in great condition but I wanted a more modern look for my dining room. However, I decided to keep the original rustic brass hardware for character and uniqueness. I'm rather pleased with the final results!!!!

BEFORE

AFTER

BEFORE

AFTER

Top 5 tax breaks for homeowners (REThink Real Estate By Tara-Nicholle Nelson Inman News®)

Q: We bought a house this year! We put $33,000 down and the bank financed $28,000. Can I write this off on my 2011 taxes? How much of it?

A: First things first: Congratulations! You've become a homeowner, and seem to have done so using an enviable financial arrangement. But now that you own a home, you might need to shift the way you think and look at some things, including your taxes and other financial matters.

Owning a home is one of those landmarks that signify financial adulthood. And one of the things that responsible financial adults do is get professional help when the situation requires it. Taxes are one of those areas that often do warrant calling the pros in.

I'm not just shilling for the tax prep industry here, either: The ultimate aim of using a tax professional is to make sure you get every deduction, credit and other tax advantage for which you qualify, without jacking up your chances at triggering the universally dreaded Internal Revenue Service audit by claiming dubious deductions.

Your mortgage debt is fairly small, as was your home's purchase price, though I don't know whether they are large or small in the context of your overall financial picture (i.e., income, assets, investments, etc.).

The fact that you saved or somehow came up with such a sizable chunk of change to put down makes me hesitate to assume that your finances are as simple as your mortgage balance might otherwise lead me to believe.

So, it might be the case that you can easily handle your own taxes -- in fact, it's even possible that your real estate-related deductions won't even outweigh the standard deductions, so that filing a simple form without even itemizing your deductions is actually the financially advantageous move.

Whether that's the case cannot be determined in a vacuum -- you may have other financial and tax issues going on. But with software and tax preparation services as inexpensive as they are, starting at under $20 for simple returns, I think it behooves you to get some professional advice and ensure you get the deductions you need.

Hiring a tax preparer might be a worthwhile investment to make, even if just this year, so he or she can brief you on what records you should keep and strategies you should do moving forward, like home repair and improvement receipts, or documentation of your use of an area of the home as a home office.

Now, let's talk more substantively about the deductions that are available to you, in the event you do decide to itemize your taxes (IRS Publication 530 offers a more nuanced view into Tax Information for Homeowners):

1. Mortgage interest deduction. Assuming this home is your personal residence, 100 percent of the mortgage interest you owe and pay before Dec. 31, 2011, is deductible on your 2011 taxes. In January, your mortgage lender will send you a form documenting the precise amount of interest you paid, although most lenders also now make this form immediately available to borrowers online.

Chances are good that you paid some amount of advance interest on your home loan at closing -- expect to see that on your statement from your lender, but you should also be able to find it on the HUD-1 settlement statement you received from your escrow agent at closing.

2. Property tax deductions. Again, assuming that this is the home you live in most of the time, you should be able to deduct 100 percent of the property taxes you've paid to your state and/or local taxing agency this year.

3. Closing-cost deductions. Discount points and origination fees paid to your mortgage lender and/or broker at closing are frequently deductible, but there are rules around this, which tax software and/or professionals can help you make sure you meet. Also, state and local transfer or stamp taxes paid at closing are generally deductible on your federal returns.

Beyond these basics, there are various home improvements (especially those that increase your home's energy efficiency), state and local tax credits for buying a foreclosure, and other tax advantages that might be available to you.

My advice is to work with an experienced, local tax preparer or, at the very least, use reputable tax preparation software to ensure that you get the maximum tax advantages available to you as a result of your new role as a homeowner.

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