JK Rowling: House in Tasmania
July 20, 2011
With the world’s current economic state few people can afford to splurge on a trip to the moves, let alone buy a new home. But lately, crowds of people are rushing to the theaters because of one woman in particular. That woman, Ms. JK Rowling, has also gone against recent trends and has purchased a home for $10.7 million all the way out in Tasmania.
Net Worth: JK Rowling
It is no secret that Rowling, author of the world-renown Harry Potter series, is now one of the top richest women in the world. She is listed as having a net worth of $1 billion as of this past March. When she conjured up the first installment to the series in the late 1990s, Harry Potter and the Sorcerer’s Stone, editor Barry Cunningham turned away her manuscript and suggested she find a day job to support her daughter as a single mom.
Since then, over 400 million copies of her books have been sold worldwide and published in 68 different languages, helping her become one of the wealthiest authors of her generation. In addition to the books, the film adaptations have blasted box office records. The final installment to the film series, Harry Potter and the Deathly Hallows Part 2, was released this past Friday and set new records on all angles. Opening weekend, the film brought in $475.5 million worldwide, of which $168 million was made in US box offices alone setting the US record as the top opening weekend film of all time.
A House in Tasmania
Rowling’s recent purchase in Tasmania was built circa 1839 and was originally inhabited by a Congregational missionary and his family on the South Esk River. The house sits on over 2115 acres on which you can find a swimming pool, tennis court, and even a horse farm. The grounds not only consist of lawns but also of flowerbeds and plenty of trees.
The interior of the house itself inhabits a sense of elegance and cottage-like décor, most likely in resemblance to her childhood home, a small cottage in Gleucestershire, England. This grand piece of architecture contains three bathrooms, seven bedrooms, multiple living rooms, a kitchen, and a dining room. And if those are not enough rooms, it has multiple cellars and a private gym as well. You will also find rather large fireplaces in the living and formal rooms of Rowling’s new investment.
This home that Rowling purchased on the South Esk River in Tasmania hardly put a dent in her purse. Though her series of seven books about a boy in an enchanted world filled with excitement and adventure have all been written and film adaptations have been created, the magic of it all will never vanish.
Home Improvements: Build a Deck
June 29, 2011
With the summer season finally upon us, outdoor parties are back in swing. What better place to relax than on your back deck while watching the kids play volleyball in the yard or swim in the pool? A nice patio set would do wonders to a brand new deck. And do not forget the cookouts! Grilling is one of the most popular events of the season, and there is nothing more satisfying than gathering friends and family on the deck for a delicious late lunch. Wait, you don’t have a deck? Well you should change that, and fast.
Why Build a Deck?
Investing in adding a deck to your house is one of the smartest decisions you can make when it comes to increasing the value of your home with outdoor projects. With some home improvement projects, the costs outweigh the benefits. However, adding a deck to your home does not fall into this category. Once a deck is added to the home and the home appears on the housing market, the deck can regain around 85 percent of its initial cost. Not very many home improvement projects can produce such a large return upon the selling of a house.
Deck Designs
When you decide if investing in a deck is the right move for you as a homeowner to increase your home value, the next step is getting a general idea of what you want. The design you choose for the deck gives the your home a whole new look. There are many deck designs out there, especially on the Internet. Your local home improvement store may also have a few pictures that may fit your needs. You should look into deck plans and styles before moving on to the next step in building a deck—hiring a contractor.
Get a Contractor
It is important, first of all, to have a general idea of what you are looking for. Your contractor can only help you with so much. Consult multiple contractors before you hire one. The contractors will meet with you individually and discuss your needs and how to satisfy those needs while ideally staying within your price range. After meeting with you, each will submit a bid with the estimated cost of labor and materials and other miscellaneous features necessary to give you the deck of your dreams, and it is your decision that finalizes the matter.
Your contractor can help you decide which type of wood is best suited for your environment. For example, it is crucial to know that any wood used to create the final project must be pressure treated, regardless of color, texture, or other characteristics. The contractor will also provide helpful suggestions in order to better suit your needs and budget. Hiring a professional contractor is the wisest decision you could make regarding this particular home improvement project.
So this summer, invest in an outdoor relaxation area for you and the family while you enjoy freshly grilled hamburgers and hotdogs dripping with ketchup and mustard. Invest in a place where you can spend time outside in the sun instead of inside in front of the television. Invest in a deck.
Home Improvements: The Closet
June 13, 2011
Have you been wondering how else you can increase your home value? You have done everything you could think of—replacing windows, remodeling nearly every room in the house, even landscaping—but you still feel like something is missing. Try remodeling or increasing your closet space.
In the Bedroom
Extra storage space is always a plus for house hunters. Aside from your garage, attic, and basement, closets are certainly ideal for storing things. When you think storage space, you probably think of items like old toys or seasonal decorations. Closets and clothes do not typically come to mind.
However in the case of bedrooms, the more closet space you have, the less furniture you will need. If your master bedroom has a fairly large walk-in closet, then you will not have much need for a dresser. This leaves more space in your bedroom to do with whatever you please. If you have a smaller closet and do not have a large enough budget to expand, consider remodeling the internal setup. The more nooks and crannies you have for storing essential accessories (hats, ties, and of course shoes), the more attractive your closet will appear to potential buyers. Also, a great way to improve the look and functionality of your closet is to add another hanging bar below the first. This allows for the hanging of more articles of clothing, again further eliminating your need for a dresser.
In the Bathroom
Another convenient location for a nice size closet is any full bathroom. Sure, you can store necessities like soap and shampoo under the sink. But every full bathroom could use a linen closet, especially if one full bathroom is located on each floor of a two-story home. In a linen closet, of course you would fit your towels; but you can always add extra bathroom must-haves like toilet paper and cleaning products. If you have small children, it is wise to keep the cleaning products out of their reach, so placing the products on a higher shelf in a closet would be most practical.
In the Kitchen
A kitchen is not complete without a pantry. In a large pantry you can keep not only nonperishable foods and snacks; you can also keep cooking supplies you rarely use, household essentials like extra batteries and light bulbs, and more in your pantry. This allows for more space in your kitchen cabinets for the more frequently used cooking supplies and dinnerware. Your kitchen design should always include a pantry, no matter what size.
So you see, closets are not just a convenient way to house many of your belongings. They are also great space-savers, wonderful storage areas for your everyday needs. The more storage space a home has, the more appealing it will be to potential buyers and the more functional a home can be for you as the homeowner. Before investing in the building or remodeling of closets in your home, be sure to look at your house layout and consult an experienced contractor for further assistance.
Boost Home Value with Replacement Windows
May 25, 2011
Replacing the windows in your home is one noticeable way to increase its value. Doing so does not just increase value, though. Many other perks come along with new windows, including lowering electricity bills and improving the outer image of your home.
Why Replace Your Windows
Increasing your home value is important when considering reselling your home, and replacing your windows is a great option. However, you should not replace them just for the sake of increasing home value. You should replace them if they are no longer efficient enough for your family’s needs.
When to Replace Your Windows
It is important for your windows to properly insulate your home. When you find that your windows are letting cold air seep through in the wintertime or hot air push its way through in the summertime, it is time to replace your windows. If you have this issue with your windows, you have probably seen a rise in your electric bill because your air conditioning is working overtime to compensate for the incoming hot air (or heater working overtime to overpower the cold air entering your home from the windows in the winter).
Also, if you have windows with wooden frames, check the hardness of the wood. You can do this with a flat head screwdriver by gently pressing the flat end against the wood. If it leaves a noticeable indentation in the frame, it may be time to invest in new windows. This shows the early signs of rotting or decaying of the frame. Sometimes the frames may become moldy due to condensation forming on the windows over time. The condensation can be caused by lack of proper insulation of the window.
You should also seriously consider replacing your windows if they will not stay open without some sort of support unrelated to the window frame. Using a prop to keep your window open is unattractive and should not be necessary. It is then time to take a trip to your local home improvement store or browse the internet to gather ideas for new and more efficient windows.
If your windows need to be replaced, there is really no reason not to replace them. You can only put off installing new windows for so long. It is best to tackle the project as soon as you know it needs to be done, saving yourself money in the long run. You could find websites that show you how to do this yourself, but your most efficient option is to hire someone to install your new windows. Make sure you do your homework: look online and consult a professional if you are unsure of whether you should replace any windows in question within your home.
Metal Roofing: The Pros And Cons
April 13, 2011
Homeowners researching the options for replacement roofing (or roofing for new construction homes) are going to be presented with a decision: traditional asphalt shingles or a metal roof. There are other options, of course, including tiles, slate, rubber, and even green roofing. But very often a homeowner finds him or herself weighing the pros and cons of asphalt shingles versus metal roofing.
Cost of Metal Roofing
When considering the advantages and disadvantages of a metal roof, the biggest hurdle to get over is usually the price. Metal roofing costs more than asphalt shingles for the initial purchase and installation and it can take some persuasion to get beyond the initial sticker shock. That’s why it’s so important to understand the long-term benefits, including the significant energy savings, that come with a metal roof.
Over time asphalt shingles begin to deteriorate and break apart, losing water resistant properties and leaving the roof susceptible to leaks. Harsh weather including extreme cold, snow, rain, and wind will take its toll on asphalt shingles leading to roof repair and eventually full roof replacement. The costs of roof repair and replacement over a 10-20 year period of time need to be taken into account with asphalt shingles.
Modern metal roofing with protective coating will not deteriorate over time and will even resist damage-causing elements such as mold, mildew, debris and snow pile-up. Roof repair for a metal roof is generally minimal and infrequent and metal roofs are projected to last a lifetime. Homeowners should check with metal roofing companies to see about long-term, transferable warranties.
In addition, ENERGY STAR qualified metal roofing products are guaranteed to save the homeowner a significant amount by lowering home heating and cooling bills. Metal roofing has reflective and emissive properties that prevent solar heat from entering the home while asphalt shingles will absorb solar energy and direct it right through the roof into the attic, forcing air conditioners to work harder and longer to cool the house. Some metal roofing systems can promise the homeowner energy savings of 42%.
Wind, Hail, and Lightning
People may have heard or may assume things about the properties of a metal roof and have questions regarding those assumptions. One such question is: Is a metal roof nosier in the rain than a shingle roof? The Metal Roofing Alliance (MRA), the foremost authority on metal roofing, asserts that a metal roof is no more noisy in the rain, wind, and hail than other roofing materials and may even be more quiet if installed over old asphalt shingles or with solid sheathing.
Another question often heard is: Will a metal roof attract lightning? While metal is a conductor of electricity, lightning is not drawn to metal. Metal objects such as towers, buildings, and antennas are often the tallest structures in an area and that height is what attracts lightning. And, according to the MRA, if lightning were to strike a home, metal roofing helps to “disperse the energy safely through the structure. Since metal roofing isn’t combustible or flammable, it’s a low risk and desirable roofing option where severe weather is concerned — especially for lightning.”
Wind and hurricane resistance is a big concern to homeowners along the coast or in storm-prone areas. When shopping for a metal roof, be sure to ask the company or manufacturer if the system has been wind tunnel tested and what wind speeds it can withstand. A properly installed metal roof should be able to withstand wind speeds of hurricane strength. This is a major area where metal roofs differ from asphalt shingles. Shingles can get blown off a roof in high wind speeds or storms whereas a metal roof can withstand the storm and provide powerful protection for the entire house.
Metal Roofing Colors
With all of the environmental and practical benefits of metal roofing, one of the most popular reasons homeowners decide on a metal roof is because of the attractive color selection to complement their home. While metal roofing colors are a big advantage, people worry that the colors will fade over time or that the paint will chip, crack, or peel. There are metal roofing systems available that utilize the latest technology for metal roof paint and protection to ensure that the color will retain its sheen and vibrancy over time.
Metal Roof Maintenance
Some people have questions about being able to walk on a metal roof. It is possible to walk on a metal roof. A metal roof installation team should be able to provide details about how to walk on a particular roof based on the roof’s pitch. Care should always be taken when walking on the roof, however. Metal materials can become slippery when wet and the highly reflective properties of Cool Metal Roofing can make the surface very hot on bright, sunny days.
We hope this article helps answer some common questions or concerns about residential metal roofing. It’s the ideal choice for a long-term investment in your home that will add protection, reduce maintenance, and save money on home energy bills. Even if a homeowner doesn’t plan on living in the house for a lifetime, the lasting value of a metal roof can help increase the resale value of the home. We encourage you to get past the sticker shock of the price tag and understand the true long term value of the investment.
Jim Kenton is a metal roofing professional with Advanced Metal Roofing based in North Carolina.
Real Estate Investments: Agriculture
April 6, 2011
When you imagine investing in real estate, what do you see? Do you see beachfront homes, condos, or mountain houses? Take a look at something much deeper, much more helpful to the economy than a beachfront condo. Take a look at farmland.
Farmland Value Increases
It seems that everywhere you turn, there is another house or housing development going up. More commercial buildings are being erected at this very moment, as well. So with the demand of farmland rising, why are we building on top of it all? The earth’s population is growing rapidly, so naturally the need for housing is also growing. The increase in population leads to the need for more jobs. More jobs means many things—opening up new positions at already-developed companies, starting new businesses which then leads to increasing the number of commercial buildings (as does expanding already-existing businesses).
But what about farms? A higher population means more mouths to feed. Therefore, the demand for farmland is rising; and because it is becoming more difficult to come by with every passing day, the value of farmland is rising, as well. Crops and livestock are crucial to our life needs. Food is a necessity to life.
Investing in Stock: Agriculture Machinery and Products
Taking advantage of the growing value of farmland does not necessarily mean purchasing the land itself. Another way to profit from the rise is to invest in stock that is agriculture-related in some way, whether you choose to invest in a company that produces farm equipment, produce, or farming products.
A popular company that specializes in all things farm-related is John Deere. Supplier of a wide variety of tractors, Deere may very well be a hearty investment. Companies like Monsanto and Syngenta work with seeds to create a higher crop yield, or agricultural output, in which the plant created by the seed will produce more seeds for future planting. In addition to these three companies, consider investing in companies that specialize in products meant to fertilize crops to increase their growth rates and productivity. Two more companies that distribute fertilizer are Mosaic and PotashCorp.
Be sure to do your research, checking out NASDAQ for the latest stock trends and expected growth. Take advantage of the farmland value boost by investing in stock by companies that specialize in different aspects of farming and agriculture in general.
Buying a Home: Make an Offer (Part 2)
April 1, 2011
The first segment of this two-part topic discussed the importance of considering recent sales, or comparable sales. In the second segment, below you will find even more characteristics to consider before making your final decision on your asking price.
Look Closer
Take a closer look at the home you are about to purchase. If any improvements were made to the home, how recent did they take place? Is the house in good condition? If it needs repairs, calculate those costs into your price unless you can compromise with the seller. Sometimes the seller will be willing to pay for some of the necessary repairs. Also, consider the status of the current housing market—are homes selling for more or less than their home value? The status of the overall economy will most likely influence your final offer.
Not only do you need to look more closely to the home, but you need to find out just why the seller wants to get rid of the home. Is the seller unable to afford mortgage payments or local taxes? If it is the latter, what are the local taxes? Could you afford them? Or perhaps the person or family just wants a fresh start. Considering yet another option, maybe the seller received a better job offer at a location too far to commute to daily.
Final Offer
Once you consider the person’s reason for selling the home, you may feel the need to decide on a price that is fair for that person’s current situation. However, this price cannot be your final offer. In order to create a final offer, you should take everything listed here into consideration. Note the fair price you may have thought up, and then calculate repair costs and comparable sales into the equation. This should help you determine your final offer on the home you wish to purchase.
Keep in mind that it is also wise to consult a real estate agent to assist you in this process.
Buying a Home: Make an Offer (Part 1)
March 30, 2011
When buying a home, determining your offer price is not as simple as you may think. It is not wise to accept the asking price of the home right away. There are a few details you should take into account before deciding how much you are willing to pay for the home. Below are some suggestions for buyers like yourself who are trying to determine the offer they will present to the seller once they discover the seller’s asking price.
Recent Sales
One of the first things you should do when deciding your offer is to observe the recent sales of similar homes in that same area. These numbers are often referred to in the real estate world as comparable sales. Note, if you can, the original asking prices versus the final sale prices of homes in the area that were up for sale recently. Determining the average difference will give you an idea of what sort of leeway you have to work with in that specific price range.
When comparing neighboring homes, there are certain characteristics that the homes must have in common with the home you are looking to purchase. Take a look at homes that were recently sold with the same number of bedrooms and bathrooms and see whether they have garages and, if they do, find homes with similar amounts of garage space. Make sure the homes have related square footage, as well. Another characteristic that many people may forget to consider is the type of construction the contractor used to create the house. For example, do the homes have stone fronts with vinyl siding along the rest of the outside? Of course the houses do not all have to have the exact same characteristics, though that is possible in some cases with connected homes.
These are just a few things to consider when attempting to determine the highest amount you are willing to offer for your new home. Make sure that you know the seller’s exact asking price before you make your decision.
Major League Baseball Players Switch Teams and Homes (Part 2)
March 26, 2011
The famous Philadelphia Phillies are both losing and gaining players this season. These players are seeing some serious changes in the price of median homes between their former states and their new locations.
Jayson Werth Joins the Washington Nationals
While Jayson Werth makes the transition from Philadelphia, PA, to Washington, D.C., his pocket is making some adjustments as well. Going from a location where the median-priced house is listed at $215,500 to an area where the median-priced home is around $331,100. Werth may end up paying over $115,600 more for a new home in Washington, D.C. However, while the median salary is just over $71,000, Werth will be bringing in 253 times that amount at a breathtaking $18 million. Though the average mortgage rate is 0.04 percent higher, if he felt so inclined, Jayson Werth could afford to buy 54 homes at median price in his new team’s home.
The Phillies Catch Cliff Lee
From the Texas Rangers to the Philadelphia Phillies, Cliff Lee is most likely paying significantly more for his new home in Philadelphia than he was paying for his home in the Lone Star State. In Dallas, the median-priced home is $138,300; whereas, in good ol’ Philly, the going rate for a home is around $216,000. Though the average mortgage rate is 4.51 percent in Philadelphia and 4.54 percent in Dallas, he is still going to pay at least $77,700 more for a home. Then again, with a salary of $24 million this year alone, Lee’s got it made. He could easily purchase over 100 median-priced homes in the Philadelphia area if he so desired.
Some big changes are going on in the world of Major League Baseball this year—switching teams, switching homes, life-changing choices made by a number of talented players. What are your plans for the year 2011?
Major League Baseball Players Switch Teams and Homes (Part 1)
March 21, 2011
Major League Baseball lovers may be interested in some of their favorite players’ transitions not only onto different teams but into different homes this year, as well. Switching teams often means switching states of residence, and with new homes come new bills. What are some mortgage rates for the big-time players? Take a minute to guess and then check out the numbers below.
Moving to Tampa Bay, Florida
The Tampa Bay Rays are gaining at least two new players this year coming from two different Major League teams. One of the men is having better luck in the housing market compared to his former area, but the other is not having such great luck in real estate. These men are Manny Ramirez and Johnny Damon.
Housing Market: Chicago
Manny Ramirez is making the transition from Chicago to the Tampa Bay area, where there is approximately a $15,000 drop in income, meaning a drop in housing prices as well. Back in Chicago, the median price of a home is approximately $183,000; whereas in Florida, the median priced home in Tampa Bay is selling for less than1 $132,000. In addition to this almost $50,000 difference, he is getting a better deal on his mortgage, too. In Tampa, the average mortgage rate is 4.5 percent, but in Chicago, the average rate is 4.67 percent. With a salary of $2 million this year, Ramirez can more than afford 15 of median priced houses in his new team’s state.
Housing Market: Detroit
Joining the Tampa Bay Rays along with Ramirez is Johnny Damon. Going from Detroit where the average home is approximately $66,000, Damon is now in a significantly more costly housing market in Tampa Bay. Though the median Tampa home is almost double that of the median Detroit home, Damon is bringing in around $5.25 million this year alone. In a housing market with an average mortgage rate 0.09 percent lower than that of the market in Detroit which sits at an average of 4.59 percent, Damon’s mortgage payments will be proportionately less than that in Detroit. Making around $3.25 million more than Ramirez, Damon could theoretically afford 39 homes in Tampa if paying the median price. So, though he is paying more for his new home, Damon is still experiencing a decent deal with a lower mortgage rate.
This year will build experience for baseball players in both the game and the housing market. Soon to come: Major League Baseball teams the Philadelphia Phillies and the Boston Red Sox.