Is Now a Good Time to Buy a Home?
See why others are saying yes:
CNN – Now Is a Good Time to Buy (11/19/09)
Wall Street Journal – Buying a Home in Time to Get Credit (11/15/09)
Time Magazine – Downsizing: Today’s Homebuyers Are Thinking Small (9/28/09)
USA Today – Survey Shows Spike in First Time Home Buyers (11/19/09)
Real Estate News And News Impacting Our Triangle Area (Raleigh - Durham - Chapel Hill):
- 2009 American Recovery and Reinvestment Act
- New home Checklist
- 10 Skills All Homeowners Should Have
- Best place to live, start a business in Triangle? Durham, says Fortune Small Business
- The Best Strategies for Right Now
- Helping Your Client Succeed In Short Sell
2009 American Recovery and Reinvestment Act
A refundable first-time homebuyer tax credit of up to $8,000 is the centerpiece of four housing incentives found in the 2009 American Recovery and Reinvestment Act.
The new credit is designed to boost sales in the nation's sagging housing market.
Lawrence Yun, chief economist for the National Association of Realtors, predicts homebuyers will purchase an additional 300,000 homes in 2009 as a result of the tax credit.
"The impact will likely not be felt for at least three or four months, because it generally takes buyers that long to qualify for a mortgage and search for a home," says Yun.
The new credit improves on a first-time homebuyer credit passed in 2008, Yun says. That credit had to be paid back over a period of 15 years, making it more of a loan than a true credit.
"We think this year's tax credit will certainly have a much bigger impact because it is a true tax credit which is also refundable," Yun says. "For instance, if you owe $1,000 in taxes and qualify for the first-time homebuyers tax credit, you will receive a tax refund of $7,000."
Yun believes activity spurred by the new credit will help bring down housing inventory and stabilize prices.
Gibran Nicholas, chairman of the CMPS Institute (which certifies mortgage banker and brokers), says his group was in favor of a more generous tax credit.
However, he still believes the credit will have a positive impact on the housing market.
"This tax credit is more of a half-step, but at least it is in the right direction," says Nicholas.
Rules for 2009 first-time homebuyers tax credit |
|---|
Does not have to be repaid unless the home is sold within three years. Applies only to first-time homebuyers, defined as those who have not owned a home within the previous three tax years. Available only for homes purchased between Jan. 1, 2009, and Dec. 1, 2009. Restricted by income; phases out for individuals with an adjusted gross income of $75,000 or above and for married couples with a combined adjusted gross income of $150,000 or above. Tax credit is for up to 10 percent of the purchase price, up to a maximum of $8,000. For example, a buyer of a $150,000 home could receive a tax credit of a maximum of $8,000, while a first-time buyer of a $70,000 home would be eligible for a tax credit of $7,000. The credit can be taken on 2008 taxes even when the purchase is made in 2009. |
Nicholas especially likes a provision allowing homebuyers to claim their credit immediately.
"The greatest part of this tax credit is that homebuyers can take the credit on their 2008 tax return even when they have purchased the home in 2009," says Nicholas. "This acts as an immediate stimulus for a lot of people."
Homebuyers can take advantage of this filing exception in one of three ways: closing on the home prior to April 15, 2009, getting an extension to file taxes later in the year or filing an amended return.
Some state housing programs are introducing programs that allow homebuyers to access the tax credit money at settlement.
Enhanced Tax Credit Provides Outstanding Opportunity for Home Buyers
In its efforts to stimulate the economy and revive the housing market, Congress has enacted legislation providing a tax credit of up to $8,000 for first-time home buyers.
But time is of the essence for buyers who want to take advantage of this opportunity. Only homes purchased on or after January 1, 2009 and before December 1, 2009 are eligible. Use the links below to find out more about the tax credit.
$8,000 Home Buyer Tax Credit at a Glance
- The tax credit is for first-time home buyers only.
- The tax credit does not have to be repaid.
- The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
- The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009.
- Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.
Frequently Asked Questions About the Home Buyer Tax Credit
The American Recovery and Reinvestment Act of 2009 authorizes a tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence on or after January 1, 2009 and before December 1, 2009.
The following questions and answers provide basic information about the tax credit. If you have more specific questions, we strongly encourage you to consult a qualified tax advisor or legal professional about your unique situation.
- Who is eligible to claim the tax credit?
- What is the definition of a first-time home buyer?
- How is the amount of the tax credit determined?
- Are there any income limits for claiming the tax credit?
- What is "modified adjusted gross income"?
- If my modified adjusted gross income (MAGI) is above the limit, do I qualify for any tax credit?
- Can you give me an example of how the partial tax credit is determined?
- How is this home buyer tax credit different from the tax credit that Congress enacted in July of 2008?
- How do I claim the tax credit? Do I need to complete a form or application?
- What types of homes will qualify for the tax credit?
- I read that the tax credit is "refundable." What does that mean?
- I purchased a home in early 2009 and have already filed to receive the $7,500 tax credit on my 2008 tax returns. How can I claim the new $8,000 tax credit instead?
- Instead of buying a new home from a home builder, I hired a contractor to construct a home on a lot that I already own. Do I still qualify for the tax credit?
- Can I claim the tax credit if I finance the purchase of my home under a mortgage revenue bond (MRB) program?
- I live in the District of Columbia. Can I claim both the Washington, D.C. first-time home buyer credit and this new credit?
- I am not a U.S. citizen. Can I claim the tax credit?
- Is a tax credit the same as a tax deduction?
- I bought a home in 2008. Do I qualify for this credit?
- Is there any way for a home buyer to access the money allocable to the credit sooner than waiting to file their 2009 tax return?
- If I’m qualified for the tax credit and buy a home in 2009, can I apply the tax credit against my 2008 tax return?
- For a home purchase in 2009, can I choose whether to treat the purchase as occurring in 2008 or 2009, depending on in which year my credit amount is the largest?
- Who is eligible to claim the tax credit?
First-time home buyers purchasing any kind of home—new or resale—are eligible for the tax credit. To qualify for the tax credit, a home purchase must occur on or after January 1, 2009 and before December 1, 2009. For the purposes of the tax credit, the purchase date is the date when closing occurs and the title to the property transfers to the home owner.
- What is the definition of a first-time home buyer?
The law defines "first-time home buyer" as a buyer who has not owned a principal residence during the three-year period prior to the purchase. For married taxpayers, the law tests the homeownership history of both the home buyer and his/her spouse.
For example, if you have not owned a home in the past three years but your spouse has owned a principal residence, neither you nor your spouse qualifies for the first-time home buyer tax credit. However, unmarried joint purchasers may allocate the credit amount to any buyer who qualifies as a first-time buyer, such as may occur if a parent jointly purchases a home with a son or daughter. Ownership of a vacation home or rental property not used as a principal residence does not disqualify a buyer as a first-time home buyer.
- How is the amount of the tax credit determined?
The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
- Are there any income limits for claiming the tax credit?
The tax credit amount is reduced for buyers with a modified adjusted gross income (MAGI) of more than $75,000 for single taxpayers and $150,000 for married taxpayers filing a joint return. The tax credit amount is reduced to zero for taxpayers with MAGI of more than $95,000 (single) or $170,000 (married) and is reduced proportionally for taxpayers with MAGIs between these amounts.
- What is "modified adjusted gross income"?
Modified adjusted gross income or MAGI is defined by the IRS. To find it, a taxpayer must first determine "adjusted gross income" or AGI. AGI is total income for a year minus certain deductions (known as "adjustments" or "above-the-line deductions"), but before itemized deductions from Schedule A or personal exemptions are subtracted. On Forms 1040 and 1040A, AGI is the last number on page 1 and first number on page 2 of the form. For Form 1040-EZ, AGI appears on line 4 (as of 2007). Note that AGI includes all forms of income including wages, salaries, interest income, dividends and capital gains.
To determine modified adjusted gross income (MAGI), add to AGI certain amounts such as foreign income, foreign-housing deductions, student-loan deductions, IRA-contribution deductions and deductions for higher-education costs.
- If my modified adjusted gross income (MAGI) is above the limit, do I qualify for any tax credit?
Possibly. It depends on your income. Partial credits of less than $8,000 are available for some taxpayers whose MAGI exceeds the phaseout limits.
- Can you give me an example of how the partial tax credit is determined?
Just as an example, assume that a married couple has a modified adjusted gross income of $160,000. The applicable phaseout to qualify for the tax credit is $150,000, and the couple is $10,000 over this amount. Dividing $10,000 by $20,000 yields 0.5. When you subtract 0.5 from 1.0, the result is 0.5. To determine the amount of the partial first-time home buyer tax credit that is available to this couple, multiply $8,000 by 0.5. The result is $4,000.
Here’s another example: assume that an individual home buyer has a modified adjusted gross income of $88,000. The buyer’s income exceeds $75,000 by $13,000. Dividing $13,000 by $20,000 yields 0.65. When you subtract 0.65 from 1.0, the result is 0.35. Multiplying $8,000 by 0.35 shows that the buyer is eligible for a partial tax credit of $2,800.
Please remember that these examples are intended to provide a general idea of how the tax credit might be applied in different circumstances. You should always consult your tax advisor for information relating to your specific circumstances.
- How is this home buyer tax credit different from the tax credit that Congress enacted in July of 2008?
The most significant difference is that this tax credit does not have to be repaid. Because it had to be repaid, the previous "credit" was essentially an interest-free loan. This tax incentive is a true tax credit. However, home buyers must use the residence as a principal residence for at least three years or face recapture of the tax credit amount. Certain exceptions apply.
- How do I claim the tax credit? Do I need to complete a form or application?
Participating in the tax credit program is easy. You claim the tax credit on your federal income tax return. Specifically, home buyers should complete IRS Form 5405 to determine their tax credit amount, and then claim this amount on Line 69 of their 1040 income tax return. No other applications or forms are required, and no pre-approval is necessary. However, you will want to be sure that you qualify for the credit under the income limits and first-time home buyer tests.
- What types of homes will qualify for the tax credit?
Any home that will be used as a principal residence will qualify for the credit. This includes single-family detached homes, attached homes like townhouses and condominiums, manufactured homes (also known as mobile homes) and houseboats. The definition of principal residence is identical to the one used to determine whether you may qualify for the $250,000 / $500,000 capital gain tax exclusion for principal residences.
- I read that the tax credit is "refundable." What does that mean?
The fact that the credit is refundable means that the home buyer credit can be claimed even if the taxpayer has little or no federal income tax liability to offset. Typically this involves the government sending the taxpayer a check for a portion or even all of the amount of the refundable tax credit.
For example, if a qualified home buyer expected, notwithstanding the tax credit, federal income tax liability of $5,000 and had tax withholding of $4,000 for the year, then without the tax credit the taxpayer would owe the IRS $1,000 on April 15th. Suppose now that the taxpayer qualified for the $8,000 home buyer tax credit. As a result, the taxpayer would receive a check for $7,000 ($8,000 minus the $1,000 owed).
- I purchased a home in early 2009 and have already filed to receive the $7,500 tax credit on my 2008 tax returns. How can I claim the new $8,000 tax credit instead?
Home buyers in this situation may file an amended 2008 tax return with a 1040X form. You should consult with a tax advisor to ensure you file this return properly.
- Instead of buying a new home from a home builder, I hired a contractor to construct a home on a lot that I already own. Do I still qualify for the tax credit?
Yes. For the purposes of the home buyer tax credit, a principal residence that is constructed by the home owner is treated by the tax code as having been "purchased" on the date the owner first occupies the house. In this situation, the date of first occupancy must be on or after January 1, 2009 and before December 1, 2009.
In contrast, for newly-constructed homes bought from a home builder, eligibility for the tax credit is determined by the settlement date.
- Can I claim the tax credit if I finance the purchase of my home under a mortgage revenue bond (MRB) program?
Yes. The tax credit can be combined with the MRB home buyer program. Note that first-time home buyers who purchased a home in 2008 may not claim the tax credit if they are participating in an MRB program.
- I live in the District of Columbia. Can I claim both the Washington, D.C. first-time home buyer credit and this new credit?
No. You can claim only one.
- I am not a U.S. citizen. Can I claim the tax credit?
Maybe. Anyone who is not a nonresident alien (as defined by the IRS), who has not owned a principal residence in the previous three years and who meets the income limits test may claim the tax credit for a qualified home purchase. The IRS provides a definition of "nonresident alien" in IRS Publication 519.
- Is a tax credit the same as a tax deduction?
No. A tax credit is a dollar-for-dollar reduction in what the taxpayer owes. That means that a taxpayer who owes $8,000 in income taxes and who receives an $8,000 tax credit would owe nothing to the IRS.
A tax deduction is subtracted from the amount of income that is taxed. Using the same example, assume the taxpayer is in the 15 percent tax bracket and owes $8,000 in income taxes. If the taxpayer receives an $8,000 deduction, the taxpayer’s tax liability would be reduced by $1,200 (15 percent of $8,000), or lowered from $8,000 to $6,800.
- I bought a home in 2008. Do I qualify for this credit?
No, but if you purchased your first home between April 9, 2008 and January 1, 2009, you may qualify for a different tax credit. - Is there any way for a home buyer to access the money allocable to the credit sooner than waiting to file their 2009 tax return?
Yes. Prospective home buyers who believe they qualify for the tax credit are permitted to reduce their income tax withholding. Reducing tax withholding (up to the amount of the credit) will enable the buyer to accumulate cash by raising his/her take home pay. This money can then be applied to the downpayment.
Buyers should adjust their withholding amount on their W-4 via their employer or through their quarterly estimated tax payment. IRS Publication 919 contains rules and guidelines for income tax withholding. Prospective home buyers should note that if income tax withholding is reduced and the tax credit qualified purchase does not occur, then the individual would be liable for repayment to the IRS of income tax and possible interest charges and penalties.
Further, rule changes made as part of the economic stimulus legislation allow home buyers to claim the tax credit and participate in a program financed by tax-exempt bonds. Some state housing finance agencies, such as the Missouri Housing Development Commission, have introduced programs that provide short-term credit acceleration loans that may be used to fund a downpayment. Prospective home buyers should inquire with their state housing finance agency to determine the availability of such a program in their community. - If I’m qualified for the tax credit and buy a home in 2009, can I apply the tax credit against my 2008 tax return?
Yes. The law allows taxpayers to choose ("elect") to treat qualified home purchases in 2009 as if the purchase occurred on December 31, 2008. This means that the 2008 income limit (MAGI) applies and the election accelerates when the credit can be claimed (tax filing for 2008 returns instead of for 2009 returns). A benefit of this election is that a home buyer in 2009 will know their 2008 MAGI with certainty, thereby helping the buyer know whether the income limit will reduce their credit amount.
Taxpayers buying a home who wish to claim it on their 2008 tax return, but who have already submitted their 2008 return to the IRS, may file an amended 2008 return claiming the tax credit. You should consult with a tax professional to determine how to arrange this. - For a home purchase in 2009, can I choose whether to treat the purchase as occurring in 2008 or 2009, depending on in which year my credit amount is the largest?
Yes. If the applicable income phaseout would reduce your home buyer tax credit amount in 2009 and a larger credit would be available using the 2008 MAGI amounts, then you can choose the year that yields the largest credit amount.
In addition to the tax credit, the American Recovery and Reinvestment Act of 2009 has several other provisions that will benefit home buyers and the housing market. The legislation:
- Will help home buyers in high-cost markets by extending the FHA, Fannie Mae and Freddie Mac loan limit of $729,750 through the end of 2009.
- Allows state housing finance agencies to help buyers at closing by advancing the credit as a loan using proceeds from tax-exempt bonds.
- Extends the tax code section 25C credit for energy-efficient home improvements through the end of 2010; increases the credit rate from 10 percent to 30 percent; raises the lifetime cap from $500 to $1,500; expands the list of eligible improvements.
- For 2008 operations, expands the net operating loss carryback period from two years to five years for small businesses (businesses with average gross receipts of no more than $15 million over the previous three years).
- Temporarily allows exchange of Low-Income Housing Tax Credit allocating authority for tax-exempt grants and appropriates $2 billion in HOME funding for affordable housing projects.
- Provides a "patch" for the Alternative Minimum Tax for tax year 2009.
- Increases bonus depreciation and section 179 small business expensing for business investment in 2009.
- Increases New Markets Tax Credit allocating authority for 2008 and 2009.
- Delays for one year—from 2011 to 2012—the start of the three percent government contractor withholding requirement.
This information is provided by the National Association of Home Builders - http://www.federalhousingtaxcredit.com/2009/home2.html
New home Checklist
8 things you should know about but regular inspection won't find
By Cristina Bolling, The Charlotte Observer
Home inspectors spend hours in the nooks and crannies of houses, crouching in crawl spaces and climbing into attics, for prospective buyers.
They inspect the home's structural integrity, the exterior, roofing, plumbing, electrical, heating, central air conditioning, built-in kitchen appliances, insulation and ventilation. The cost of a routine home inspection depends on a home's size, age and location, as well as the inspector's experience and qualifications. Fees can start as low as $200 for small condominiums and can cost more than $400 for larger and/or older homes, according to the N.C. Licensed Home Inspectors Association.
Even by minimum standards, inspectors make hundreds of observations during the course of a few hours in a home. But there is plenty they probably won't -- or officially can't -- tell you about the house you're about to buy.
"We're generalists. We have knowledge in all the different disciplines, but refer other possible problems to a specialist," said inspector Keven Kossler. Along with three other inspectors, he owns a franchise of National Property Inspection, which inspects commercial and residential property.
After talking to some inspectors, we've come up with a list of eight things you won't find on most inspection checklists, but that you might want to check out with a specialist. Costs on each of these will vary -- ranging from less than $100 to several hundred dollars -- depending on how thorough the tests and inspections run.
Termites
In North Carolina, lenders generally require a termite inspection, and anyone who performs structural pest control for the general public must be licensed by N.C. Department of Agriculture & Consumer Services. That said, a general home inspector might find clues that termites might be a problem and may recommend hiring a termite inspector to check it out.
"You'd be silly to buy a house in this climate without a termite inspection, especially if it's more than five years old," said Bob Boucek, owner of Beech Home Inspections and one of the founders of the N.C. Licensed Home Inspector Association.
Radon gas
Radon is a cancer-causing natural radioactive gas that comes from the natural decay of uranium found in nearly all soils. You can't see, smell or taste it, and it is the leading cause of lung cancer among nonsmokers. It's not tested for on the average home inspection, but some inspectors, like Johnny Kay of Fort Mill-based Arrow Home Inspection Service, will conduct a two-day short-term test.
Fireplaces & chimneys
If you're concerned about a home's chimney, hire an inspector or chimney sweep with a "chim cam," which is a camera at the end of a wand that allows a specialist to see every inch of a chimney. Kossler, the inspector and chimney sweep, says he often finds cracked caps on top of chimneys, which can cause water leakage and damage in the home.
Roof
Inspectors must visually check a home's roof either from the ground with binoculars or from a ladder perched at the end of a roof. Inspectors say most major problems can be spotted through these methods, but if a home is particularly large or has roof surfaces that are hard to see from those vantage points, it might be a good idea to have a roofer inspect.
Asbestos & lead paint
Asbestos is most dangerous in homes where renovations are taking place, because when asbestos fibers are disturbed, they get inhaled into the lungs and can cause health problems. Only homes built before 1978 are at a risk for having lead paint, which can be tested for with at-home kits or by a trained professional.
Mold
If you're worried it's a problem, hire a certified mold inspector. Some use thermal imaging and infrared scanning to find problems. Kossler says even some new homes are plagued with mold problems, because they're built with wood that is wet to start with and never gets a chance to dry.
Air & water quality
Home buyers with significant allergies or respiratory ailments may want to have the indoor air quality checked. Mold, mildew and other toxins and allergens might be present and require an air-duct cleaning. Water quality testing is always a good idea and is especially vital in homes with wells.
Insulation
It's not included on most checklists, but some inspectors can use an infrared camera to look for missing insulation in a home's walls. It's particularly useful before the final walk-through in a new home's 11th month, when many of the builder's warranties are about to expire. Kossler says he's had clients who have required builders to remove large portions of drywall and install missing insulation after he used the infrared camera to test insulation.
10 Skills All Homeowners Should Have
By Allen Norwood
RISMEDIA, March 31, 2008-(MCT)-Here are 10 skills every homeowner should master. You don’t need to run out and learn them all immediately, of course. But you’ll appreciate them-and save yourself lots of money. You can tackle most with simple hand tools, either items you own or those you can buy for $10 or less. The only power tool here is a variable speed drill.
We’ll start at the front door.
1. Replace a door lock. Especially if you buy an existing house, with lots of old keys floating around, you might want to replace the exterior locks. On the inside of the door, remove the two long bolts holding the front and back of the lock together; remove the front and back of the lock. On edge of door, remove screws holding latch in place, and pull latch out. To replace, just add new hardware in reverse order. Door hardware needs tightening and lubricating over the years, so understanding how it works will pay off in more than extra security.
Tips: Before buying new hardware, check the “backset,” or the distance from the edge of door to center of the hole for the deadbolt or doorknob. Replacement hardware will need to match; some locksets are adjustable, and accommodate the two standard backsets. Also, the helpful guy at the home center or hardware store can key all locks alike.
2. Change furnace and air conditioning filters. Nothing difficult about this. Be sure you know where all the filters are-on air returns or at the air handler-and how to change them.
Tips: Make a note of filter sizes and keep the information handy. (You want to be sure you have the right size BEFORE you climb the tall stepladder.) Also, learn how to clear the pipe that carries condensation from the air handler during the cooling season. The pipes can get clogged with mold and algae-and the water usually backs up and starts dripping from your ceiling when you have a house full of company in July. If your air handler is in the attic or a utility room, it should have two drains: one from the unit, and the other from the safety pan under the unit.
3. Learn the location of the main water cutoff. It’s probably in a utility room or closet, but could be at a water tank or near the meter. You don’t want to go looking for it after a pipe bursts.
Tips: Familiarize yourself with other cutoffs, too: Don’t forget the dishwasher and icemaker, for instance. And learn how to turn off the gas in an emergency: Gas valves, indoors or at the meter, are open when parallel to the line and closed when perpendicular.
4. Find a stud in wall. You’ll want to locate studs any time you’re hanging a heavy object, or installing molding or cabinets. Most homeowners know the tap-tap-tap routine; you’ll get a hollow sound between studs, a solid thunk on the stud. (Most of the time.) The centers of the studs are 16 inches apart-so if you find one you can usually locate the others pretty easily.
Tips: Look for the heads of finishing nails near the top edge of the baseboard. Those nails will be in studs. Or, hold a flashlight against the wall, shining the light parallel to the wall. Turn the flashlight slowly to sweep the wall with light. You’ll be able to spot the patches over drywall nail heads or screw heads that aren’t visible otherwise.
5. For spaces between studs, you’ll want to use hollow-wall anchors to mount towel bars, drapery rods and the like on walls. The most important rule is to match the anchor to the weight of the item you’re mounting. From weakest to strongest, anchors include: plastic expansion anchors, threaded drywall anchors (Zip-It), winged plastic anchors, molly bolts or sleeve-type anchors, and toggle bolts. When installing anchors, you can make small holes in drywall with an awl or sharp nail, but you should use a drill for larger holes.
Tips: You’ll be more accurate if you make small starter holes even for those anchors that screw in. And, if you’re not going to mount something in the same spot, it’s easier to patch over anchors such as mollys than it is to remove them. Here’s how: Remove the bolt or screw; tap the anchor lightly with a hammer until it’s below the face of the drywall; cover with spackling; sand.
6. Hang a ceiling fan. This is a popular upgrade and involves skills that you’ll use to replace light fixtures and receptacles. The first step, any time you’re dealing with electricity: Turn off the power at the breaker box. You must make sure a ceiling fan is anchored properly. If it’s not, it can fall. If you can move the electrical box with one finger, it won’t support a fan. It’s best to anchor the fan directly to the ceiling joist. This can be a time-consuming job; give yourself a couple of hours. Assemble the fan, minus blades. Then attach the fan’s ceiling bracket. Hang fan in the bracket. Connect wires-black to black and white to white-according to the directions. Attach blades. Fans work best if blades are at least 10 inches from the ceiling, and fans should be no lower than 7 feet from floor.
Tips: Your first electrical project is a good time to make sure the breakers are labeled clearly and correctly. (Don’t assume that.) When hanging fans-or light fixtures or dimmer switches-make sure wires are securely fastened and avoid jamming wires into crowded boxes. If you try to force wires, you could pull them apart and create a dangerous short.
7. Sooner or later, you’ll need to learn to drive drywall screws with a variable speed drill. You’ll repair drywall nail pops that way, of course. Pull the nail, drive a screw into the stud or joist a few inches away from the nail hole. The screw head should “dimple” the surface, with the screw head just below the face of the drywall. Cover the screw head and nail hole with spackling, let dry and sand. With screws and drywall clips, you can make larger wall repairs. U.S. Gypsum, the maker of Sheetrock brand drywall, offers a handy explainer online: Go to www.usg.com, search for repair clips, click on “Install Guide.” You use the same screw-driving skills to repair loose boards on your deck. Pull any loose nails and replace with decking screws. Be sure you use coated or galvanized screws in treated lumber.
Tips: Driving screws with a drill is like putting in golf: It’s all feel. Practice on a scrap of 2-by-4. Also, buy extra No. 2 Phillips screw bits. You always want a spare. You’ll tear them up, especially when working on decks.
8. You must master a caulking gun. Some say squeeze tubes are easier for do-it-yourselfers to master. We think they’re wrong. A gun’s trigger gives you more control. There are some tricks. Cut the tip of the tube at an angle, but with a smaller hole than you think you might need; you can always trim the tip again if the hole needs to be larger. Break the inner seal. Quit squeezing before you get to the end of the area you’re caulking. The caulk will continue to come out. When you reach the end, lift the gun from the surface and immediately remove the tension on the push rod.
Tips: It’s important to choose the right caulk for the job. Use mildew resistant bath and kitchen caulk for tub or shower; use paintable acrylic latex for that gap between wall and baseboard. Read labels carefully. Also, when smoothing caulk with your finger, resist the temptation to overwork it. Smooth it with two passes-because the third will make a mess.
9. Seal Stains. Here’s another lesson from Homeowner 101: You can’t paint over crayon, ball-point pen, grease splatters on the kitchen wall or water stains on the ceiling without the stains coming through. You must seal stains first. There are lots of good sealers and primers these days, but one old standby is pigmented shellac. A familiar brand is B-I-N from Zinsser, and the company’s website is a good place to learn about the wide array of specialty primers. Visit www.zinsser.com.
Tips: Remember that you can tint primers to make them easier to cover with the finish paint. Ask your paint pro. Also, some primers-including pigmented shellac-seal in odors, too. You’ll appreciate that if you live with a smoker or a cat.
10. Replace the flapper ball in a toilet. Every homeowner deals with a toilet that leaks water from the tank to the bowl (and mysteriously flushes in the middle of the night). The problem is usually a bad flapper ball, the valve that opens when you press the handle to flush. The cure is easy: Buy a replacement, read the directions on the back of the package, install it.
Tips: Be sure to pay attention to proper chain length. A chain that’s too short or too long can interfere with proper operation. Also, clean the opening at the bottom of the tank thoroughly before installing the new flapper ball. Grit and minerals build up and keep the ball from seating properly.
3 Helpful Homeowner Books
Do-it-yourself books are like tools: Buy one when you need help with a specific chore and, if you choose properly, you’ll use it for years to come. The most helpful books explain things with clear, complete pictures and illustrations. If you’re considering a book, pick it up and flip through it to a chore you’re familiar with. Could a novice follow the graphic instructions, based on your experience? If so, you’ll probably be able to follow the advice for something new.
Here are three books we’ve found especially helpful:
“The Reader’s Digest Complete Do-It-Yourself Manual.” First published in 1973, it was last updated in 2005. A great all-around book. It sells for $35 new, but you can find used versions online.
“Home Depot’s Home Improvement 1-2-3″ (Meredith Books, 2003, $34.95). Clear, helpful visuals, which is true of all the Home Depot how-to and home-improvement books.
“Home & Garden Television’s Complete Fix-It” (Time Life, 2000, $29.95).
You’ll find lots of guidance online. Lowe’s offers tutorials in its how-to library (www.lowes.com) and the folks at “This Old House” (www.thisoldhouse.com) are always helpful.
Take a Class, Hire a Pro
If some of these chores seem too much for you:
Take a class. The short workshops offered by home centers provide basic skills for a wide variety of projects. There are projects for kids, too. Schedules are posted online: www.lowes.com or www.homedepot.com. Central Piedmont Community College offers classes in home repair and improvement: www1.cpcc.edu.
Hire someone. The best way to find a tradesperson is through a recommendation from a friend or neighbor. Or, check out the roster of the National Association of the Remodeling Industry, where contractors are posted by specialty: www.naricharlotte.com. Check out Angie’s List at www.angieslist.com, or Home Owners Clubs of America at www.hocoa.com.
© 2008, The Charlotte Observer (Charlotte, N.C.).
Distributed by McClatchy-Tribune Information Services.
Best place to live, start a business in Triangle? Durham, says Fortune Small Business
Posted: Today at 7:55 a.m.Updated: Today at 11:47 a.m.
RESEARCH TRIANGLE PARK, N.C. — Durham, often the overlooked stepchild when it comes to publicity about the Triangle area, emerges ahead of its rivals in a new survey out from Fortune Small Business.
In its ranking of the 100 “Best Places To Live and Launch,” the magazine ranks Durham 12th.
Raleigh, meanwhile, stands 20th. Chapel Hill didn’t even make the list. No mention of Cary, either.
Best place in the state, however, is Charlotte. The Queen City ranks eighth.
Noting accurately in its profile that Durham is “perceived as the underdog of the Triangle region,” the magazine describes the “pros” of the Bull City thusly: “Thriving biotech and pharmaceutical industries, lots of local arts festivals and college sports.”
As would be expected, Fortune Small Business is full of praise for Research Triangle Park, most of which is in Durham County. However, it also cites as a plus a project that’s owned by Capitol Broadcasting (the parent of WRAL.com and WRAL Local Tech Wire):
“The creative class in the Triangle area (Chapel Hill, Durham, and Raleigh) has begun to set up shop in the unconventional workspaces that are available in downtown Durham's ‘American Tobacco Historical District’ and in recently renovated office towers.”
Other kudos for Durham include the Nasher Museum of Art and a “lower cost of living,” but it’s marked down for crime. “[T]he city also records higher crime rates, which has dinged its reputation in the region.”
Ironically, Bellevue, Wash., topped the list. That happens to be where Durham-based Motricity is moving its headquarters.
As one would guess, Raleigh is praised for its high-tech growth. The capital is also knocked for infrastructure – their reporter must have tried to drive on I-40 and the Beltline:
“Pros: Thriving tech industry, central location amid major research and business centers
“Con: Raleigh's infrastructure is struggling to keeping up with its population growth”
The Fortune Small Business survey focused on 296 metro areas for business friendliness, lifestyle offerings and reporting of its staff.
Other regional cities on the list: Buford, Ga., 3; Asheville, 41; Greensboro, 50; Winston-Salem, 56; Charleston, S.C., 81, and Savannah, Ga., 99.
Copyright 2008 by WRAL.com. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
