“We live in challenging times. Unemployment remains high, and the U.S. lead in technology and science is slipping as many foreign countries gain ground. But some U.S. cities, though slowed by the Great Recession, still thrive by lifting good old American innovation to new levels. And that will help put more Americans back to work and keep our international edge,” says the staff at Kiplinger who recently named the top 10 best cities for the next ten years.  How do you think our area ranks?

As the U.S. housing market struggles to rebound, many homeowners are stuck with hard-to-sell properties longer than expected. Some frustrated home sellers who must relocate for a new job opportunity, want to downsize or simply want to buy a new place have left homes empty. Vacant or unoccupied homes can leave the homeowner exposed to loss and liability that may not be covered by their insurance, according to the National Association of Insurance Commissioners (NAIC).

The Pending Home Sales Index, released today by the National Association of Realtors, dropped 2.6 percent to 75.7 based on contracts signed in June from 77.7 in May, and is 18.6 percent below June 2009 – another sign of the stagnant housing market.

“In many cases, people who have been trying to sell their homes for awhile have moved forward with their plans regardless, leaving a vacant home on the market,” said NAIC President and West Virginia Insurance Commissioner Jane L. Cline. “Having an unoccupied home can create several insurance implications that typically are not covered under a standard homeowners policy.”

The Added Risks of Vacant Homes
Homeowners policies are meant to insure homes that are occupied, so they generally include exclusions for neglect or property abandonment on a home left vacant or unoccupied for a specified number of consecutive days.

In insurance terms, a vacant home is one the resident has moved out of and taken his/her belongings with him/her. An unoccupied home is one where the resident is not staying at the home, but the furniture and other belongings remain.

Because vacant and unoccupied homes pose a higher risk for damage than occupied homes, insurance companies insure these properties differently and usually at a higher price. These risks include:

– Break-ins: When a home has been unoccupied for awhile, it can show signs that nobody is around – unkempt lawn, full mailbox, no lights on – that can tip off burglars to an easy target.

– No emergency response: Without anyone home to call 911 or respond to emergencies, a manageable problem – such as a small electrical fire – can turn into a much larger, more costly disaster.

– Property liability: There is no one present to prevent others from entering the property or to supervise activity, which could increase the likeliness of an accident on the premises or property damage when the owner is not there.

Keeping A Vacant Home Properly Insured
The definition of vacancy and unoccupancy can vary from policy to policy. Some insurers may not pay claims if a home is vacant for 60 days or more. Some policies might automatically shift to a different amount of coverage (e.g. liability insurance only) after a specific number of days unoccupied.

Many homeowners policies have a “vacancy clause” that can be triggered if the homeowner is gone for an extended period of time. If this happens, the homeowner could violate the terms of their contract and some or all of their coverage may not apply in the event of a loss.

“Before you decide to leave a home vacant or unoccupied for a long period of time, talk to your insurance agent or company to learn how they define vacancy and unoccupancy, and whether the company will pay claims if a house is unoccupied,” said Cline. “Be honest about your situation, because while an extra policy might cost more, it could save you money down the road should there be an accident or damage to the home.”

Many insurance companies offer an endorsement that will provide coverage for a dwelling that is unoccupied for an extended period of time. Vacancy policies can also be purchased for different term lengths to cover a few months to a year, depending on the need.

The cost of vacancy coverage depends on the company and state in which the property is located, but costs usually are higher than a typical homeowners policy due to the overall increase in risk.

Original post by Lowes/RisMedia

The dog days of summer are here, alive and well. Getting out in the garden and keeping your lawn green are very important but so is conserving water. Remember – it’s the summer; it’s going to rain. From checking the kitchen faucet to watching your laundry loads, there’s plenty we can all do to save water.

Here are some tips from Pennsylvania American Water on how you can conserve water and reduce the environmental impact of water consumption both indoors and outside the home:

1. Water your lawn only when it needs it. An easy test to tell if your lawn needs water is to simply walk across the grass. If you leave footprints, it’s time to water. (An added benefit of watering less often is that fewer, deep-soaking waterings encourage deep root growth and stronger turf.)

2. Water in the early morning. As much as 30 percent of water can be lost to evaporation by watering during midday.

3. Set your lawn mower one notch higher to make your lawn more drought-tolerant.

4. Use drip irrigation hoses to water plants, and water in the early morning or evening.

5. Use a broom instead of a hose to clean your sidewalk, driveway, or patio.

6. Forego the hose and wash your car with a bucket and sponge instead.According to EPA WaterSense, a hose left running can waste as much as six gallons per minute while a bucket and sponge uses only a few gallons to do the job.

7. Keep a bottle of cold tap water in the refrigerator. You’ll avoid the cost and environmental impact of bottled water and you’ll have cold water available in the summer without running the faucet.

8. Run dishwashers and clothes washers only when they are full. If you have a water-saver cycle, use it.

9. Adjust the water level of your clothes washer, so that it matches your load size.

10. Regularly check your toilet, faucets and pipes for leaks and have them fixed promptly. An easy test for toilet leaks from EPA WaterSense: Place a drop of food coloring in the tank. If the color tints the water in the bowl without flushing, there’s a leak. Check your water meter before and after a two-hour period when no water is being used. If the meter changes at all, you probably have a leak.

Original post by Lowes/RisMedia

The summer is officially upon us. And what that, comes weeds, bugs and, of course, more time needed to tend to your lawn.

Here, learn how you can make the most of the season with these summer lawn care tips:

1. Proper watering and water conservation is important at any time of year, but particularly when heat and a lack of rain lead to water deficits and drought.

2. Evaluate your lawn regularly for signs of irregular color and texture. These can be signs of damage that may result from pests or disease.

3. Proper year-round lawn care keeps a lawn healthy and prevents weeds, disease and pests. But sometimes, insects you may not notice can travel from the yard to your home. To stop them, hire pest control to keep the bugs on the outside. You can also reduce their outside presence by treating the lawn for insects such as fleas and ticks and fire ants.

4. While lawns are generally the focal point of most yards, don’t forget about trees and shrubs. Well-maintained landscaping adds dimensionality to a home and increases its value.

5. In the heat of the summer, you may be tempted to mow your lawn in shorts and flip flops, but remember, you need to stay safe: wear long pants and closed-toed shoes.

6. Also, no matter what outdoor activity you’re enjoying, be sure to stay hydrated with plenty of water.

7. The essentials of good summer lawn care are watering, fertilizing and proper mowing. However, sometimes an underlying problem (such as bare spots or severely damaged turf) requires additional measures.

Original post by Lowes/RisMedia

Sometimes all a home really needs is a littile bit of organization…in this case, not to sound cliche, but a little bit certainly does go a long way.

It’s easy to get bogged down by clutter throughout our daily lives. And, if you’re renovating, project remnants compound the problem. Here are some tips, courtesy of Lowe’s, to help you stay clutter-free:

Daily Clean-up
If you stay on top of simple chores every day, the bigger organization projects won’t appear as overwhelming. Keep the house tidy by doing the small stuff daily. Make your bed each morning. After meals, do the dishes. And keep dirty laundry off the floor and in the hamper.

Storage Under the Bed
A lot of people forget the amount of storage a bed (or any other raised furniture) provides. You can store a lot under your bed in storage containers and boxes. The same can apply for sofas and chairs that have ample clearance. Just make sure your storage is out of sight with skirts. Think outside of the closet. The underside of your bed is the perfect place to store comforters, bedspreads and pillowcases.

Give Your Shoes the Rack
Often, closet floors suffer from shoe infestations. A cobbler’s clutter can be easily solved with a tiered shoe rack. A shoe rack organizes your footwear while keeping them readily available (a luxury not afforded if you’re using stacked boxes). A rack also keeps shoes in better condition, as they are kept away from the dirt and dust that collect on the floor. As you begin organizing, remember to keep shoes grouped by type and color. Heels, flats and sneakers should have their own sections. If your collection exceeds a rack, hang additional pairs from the inside of your closet door.

Kitchen Zoning
Your kitchen will house a wide range of dinnerware, food, storage and cooking items. Create separate areas for each kitchen activity. Keep your baking utensils, appliances, pans and sheets grouped together. And designate a specific spot on the countertop or island for use. Do the same for your grilling, frying and juicing needs.

Food storage can also get messy. Make sure your plastic food containers are adequately stored by size and shape. And clean out your refrigerator regularly. Don’t forget to keep an opened box of baking soda in the fridge’s corner to help control odors.

Finally, set up a shelving system for your pantry, and group your foodstuffs accordingly. Remember, it’s best to not mix your cereals with the kitty litter. Cans – separated by vegetable and fruits – go on one shelf, while grains go on another. Spices should get their own rack.

Manage Magazines and Mail
Keep your magazines stored in a specific location instead of sprawled throughout your house. Group your periodicals by title and date. Give your mail the same treatment. Group your bills separately from other important letters and announcements. And trash junk mail immediately. Remember to shred any mail that may contain personal information. Baskets and racks help control the printed pages, especially if you’re an avid reader.

Tame the Toys
Keep toys stored in plastic bins or hampers that are low to the ground. You want to make sure toy storage is easily accessible for your child. As kids grow, they’ll start cleaning on their own. You can even make tidying up another game to play (e.g. shoot hoops with stranded Legos). Like the rest of your belongings, try to specialize each container. Keep one for books and crafts, and another for larger toys like trains or stuffed animals.

In the Garage
Garages usually become a default space for sporting goods, garden supplies and tools. If poorly managed, a garage can quickly become an eyesore. Keep your garage organized with wall systems, cabinets, worktables and shelving units. There are also specialized containers for nails, screws, nuts and bolts to help minimize the mess. Keep sporting goods, like bicycles and skiing gear, on hooks hung from your garage’s walls or ceiling. Gardening supplies, like fertilizer and pesticides, should be properly sealed and stored out of reach from children.

Like the organization projects inside, keep your garage’s contents separated by their function: tools with tools, toys with toys, etc.

Originally posted Lowes / RisMedia

Home appraisals are a necessary step in the process of selling or refinancing your home. While many homes today aren’t worth as much as they were when they were bought, it is crucial for homeowners to be realistic when it comes to getting their home appraised.

If you are in the process of getting your home ready to be put on the market or interested in refinancing, the experts at Equity Mortgage Lending offer the following things to keep in mind as you prepare for your home appraisal.

• The appraiser will need approximately 30 minutes to one hour to complete the inspection phase of the appraisal process, which includes: exterior photos of the front and rear of the home and a photo of the street in front of the property; measurements of the exterior of the home, garage and any outbuildings; a walk-through inspection of all rooms and levels of the interior of the home including the basement.
  
  
• Get organized. Put together a checklist that will help you get ready for your appraisal and get the results you’re looking for.
  
  
• Be flexible when scheduling the appointment.
  
  
• Have a copy of your home’s blueprint to help verify measurements and lot size.
  
  
• Provide a list of improvements made to the property since the purchase. Improvements that should be noted include adding a pool, patio, updating your kitchen or bathroom and any room additions, etc.
  
  
• Allow your appraiser access to the entire property, including access to any crawl space or attic areas.
  
  
• Keep in mind that a clean home makes a good impression. Be sure to trim the lawn, clean the pool and garage, repair cracked windows or torn screens, check for leaky faucets and secure gutters and down spouts before your appraisal.
  
  
• Point out any amenities that may not be obvious to the appraiser: sprinkler systems, patios, pools, security systems, built in vacuum, etc.
  
  
• Provide a copy of last year’s tax assessment information.
  
  
• Know what year the house was built and when improvements were made.
  
  
• The first thing appraisers look for is comparables, so be prepared and have a list of recent sales of similar properties in the immediate neighborhood.

Original post by Lowes and RisMedia

This week our company website CBKansas.com has a new look.  We have all the functionality of the old site, but now CBKansas.com have a much more stylish look that is very much fit for 2010.    Coldwell Banker Griffith & Blair American Home strives to listen to you, our clients and customers and we have redesigned our website to make your home search easy with a simple to use interface.

You will notice that most properties in North East Kansas can be searched on our website, including being able to search homes in Topeka, Lawrence, and Kansas City, Kansas.  You will also see that our map search has been improved with flags on the map locating available properties near any location in NE Kansas.  The map functionality also has the option to turn on an aerial photo of any property so you can get a glimpse of the area or the home before you visit the property.

We hope you enjoy our newly designed site and please give us your feedback on what you think about our new look and what other functions you think our site should provide.

Homeowners across the country are continually striving toward a more eco-friendly lifestyle. While homeowners may not know where to start, there are small steps that can be taken that can add up to make a big difference.

The experts at OurGreenerLife.com offer the following tips to help you lessen your eco footprint.

1. Use less water
Saving water is all about small steps. Here are a few simple ways that will help you conserve water while saving money.
-Shut off the water while you brush your teeth
-Take showers that are a minute or two shorter
-Only run full loads of laundry and dishes
-Buy from sustainable producers. These are farmers, ranchers and other producers that use techniques that pollute less and use less water. You can do some research online or ask at your local organic market to find these products.

2. Use less energy
If you don’t have the money to buy a hybrid car or convert your house to solar power, you can make a big difference with the following small changes.
-Buy energy efficient appliances. They may be more expensive, but make up for the increased cost in lower energy bills.
-Unplug chargers when you’re not using them. Cell phone and other chargers use up power even if there’s nothing attached to them.
-Put devices with remotes, like TVs, VCRs and stereos on a power strip and turn the power strip off when you’re not using the devices. These gadgets use a lot of power to run the remote receiver even when the device is off.
-Walk or ride your bicycle for short trips.
-Buy local products. It takes energy to transport food and other products across the country. Buying local not only supports your local economy, it helps them use less energy.
-When it comes to saving energy and water, it’s a great idea to get the kids involved—you can even make it a game. Have them track how much water and electricity everyone is using and compete to see who uses the least.

3. Reuse
Most of us know the three R’s: reduce, reuse, recycle, but when we work on conserving, we often leave reuse out of the picture. While you can often find tips on how to reuse common products from other people, what you need most is creativity. With a little thought, there are many items around your home that can be reused—toilet paper holders can be used to sow seeds for the vegetable patch, old yogurt containers can be cut into strips to make plant labels and old food jars can be refilled with homemade foods or can make great impromptu vases.

4. Use environmentally friendly products
When you go to the grocery store, you probably see more and more ‘natural’ or ‘eco friendly’ products every time. There are generally two big problems with these products: Just because they’re more natural than regular products, doesn’t mean they’re entirely natural and they’re often expensive.

If you want inexpensive, natural, safe products, why not just make them yourself? Vinegar is a great way to clean and disinfect glass and other surfaces. Need to remove stubborn stains? Just add some baking soda to your vinegar cleaner. Some quick searching online will lead you to hundreds of other natural safe home-made cleaning products.

Original post from Lowes and RisMedia

RISMEDIA, July 13, 2010–(MCT)–How to handle the sale of a parent’s home is a question many baby boomers face after their parents are gone. Here are two different situations answered by Internal Revenue Service specialist Jesse Weller and estate planning attorney Tracy Potts.

QUESTION: My parents lived in a 1910 home until they passed away in the ’60s. Eight siblings were willed the home, but we allowed one brother to live there until he died in 2009. The home was sold in 2010 and proceeds divided among eight heirs (gross amount: $10,000 each). Are we obligated to pay federal taxes on this inheritance? If so, how do we determine the home’s tax basis and what tax forms are required?

ANSWER: Based on this information, it sounds like you and your siblings will each report a share of the home sale next year on your 2010 federal income tax returns. Normally you would each complete Schedule D, Capital Gains and Losses, showing your one-eighth interest in the sale.

Generally, taxpayers do not pay income tax on inherited property, but they do pay tax on earnings from an inheritance. The initial cost basis of inherited real estate is usually the home’s fair-market value on the date of the owner’s death.

If the home rose in value during the time you and your siblings owned it, there could be a taxable capital gain on the sale because the increase is considered earnings from the inheritance.

The starting cost basis for you and your surviving siblings is normally each person’s respective share of the home’s total value on the date of death of the parent who willed it to you.

If a federal estate tax return was filed (after your parents died), the value listed for the property generally becomes your cost basis. If a federal tax return did not need to be filed, your cost basis is the home’s appraised value at date of death for purposes of state inheritance or transmission taxes.

For heirs of your deceased brother, their tax basis would normally be the home’s fair market value on the date of his passing in 2009.

If you made capital improvements to the home over the years, you would add the cost of those improvements to your adjusted cost basis. Examples include adding a new room, deck or patio, installing a new heating/air conditioning system and adding insulation.

More details are in IRS Publications 523 (Selling Your Home) and 551 (Basis of Assets). More information on capital gains is in Publication 550 (Investment Income and Expenses). All are available at www.IRS.gov or by calling 800-TAX-FORM (829-3676).

Q: My mother passed away in January at age 86. She had a living trust that included her home, which was purchased in 1949. My sister and I are the trustees and beneficiaries of her estate. In February, we sold the house for $325,000 and received the proceeds. Is that money taxable to us? I seem to recall that the home’s cost basis after death is stepped up to the current market value. Does this mean there would be no capital gains to pay?

A: In 2010, the children of a deceased parent may obtain a stepped-up cost basis on a total estate valued up to $1.3 million. Since you sold the property very soon after your mother’s death, you may use the sales price as the property’s value at time of death.

Therefore, you should not owe any capital gains tax on the sale since it appears the estate’s overall value fell below this year’s stepped-up basis limitation.

Generally, if you sell a home within one year after the death of the trust holder, you may use the sales price as the tax basis and therefore would not pay capital gains taxes.

(c) 2010, The Sacramento Bee (Sacramento, Calif.).
Distributed by McClatchy-Tribune Information Services.

Recently, Forbes.com added this cool interactive tool to their website.  If you are curious how many people are moving in and out of Topeka, Lawrence, Kansas City, or anywhere else in the country, you can simple click on the county and see if more people are moving in or out of your area.

Although there are much more accurate economic indicators to analyze in real estate, desirability is important to the overall health of a city’s real estate sector. If people are flooding out of your area, there’s a chance that real estate is or will be hurting whereas if people flood in, the opposite is true.  Looks to me like the incoming vs. the outgoing in all three areas are pretty equal.