Thursday, July 28, 2011

Skinniest House in the World

Check Out the Skinniest House in the World

by Suzanne Labarre
Tuesday, July 26, 2011

provided by
Fastcompany.com

There are skinny houses. And then there is Jakub Szczęsny's Keret House, which could make Calista Flockhart look like a fatty. At its most generous, the proposed place, in Warsaw, Poland, will clock in at 4 feet wide. At its narrowest, it'll be just 28 inches wide -- thinner than the average doorway. And we complain about our sardine can in New York...

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The house (officially an "art installation," because it doesn't meet Polish building code) is slated to fill a crack between a pair of buildings in Warsaw's Wola district. When construction's finished in December, it'll be the thinnest house in Warsaw and possibly the whole world. We did aquick Google search and couldn't find anything leaner.

Szczęsny designed the house to be a work space and home for Israeli writer Etgar Keret. It'll also be a "studio for invited guests -- young creators and intellectualists from all over the world." If, that is, they're willing to drop half their body weight to fit inside.


ArchDaily.com

Kidding, kidding. In all seriousness, though, the house is a pretty remarkable feat of architecture. If everything goes according to plan, Szczęsny will manage to squeeze in designated rooms for sleeping, eating, and working. The place will have off-grid plumbing inspired by boat sewage technology and electricity lifted from a neighbor. To save space, the entry stairs will fold up at the press of a button and become part of the first floor.

Aesthetically, the Keret House isn't gonna win any beauty contests. It's been compared to everything from a pregnancy test to a sanitary napkin. (Our vote is for "pregnancy test.") Our biggest concern, though, is that it's hardly got any windows. How's it going to "produce creative work conditions," as ArchDaily reports, and "become a significant platform for world intellectual exchange," if it feels like a sensory deprivation chamber? Won't Keret go insane? But maybe that's the point. It's not like he'd be the first artist to benefit from going crazy.


ArchDaily.com

Tuesday, July 26, 2011

Get a tax break for Home Improvement

Get a tax break for home improvement

Real Estate Tax Talk

By Stephen Fishman
Inman News™
Share This
July 26, 2011

In today's down market, many homeowners are reluctant to pour more money into their homes. Before deciding whether to replace a roof or merely patch it, homeowner's should consider the tax implications.

Home improvements -- a new bathroom or kitchen, for example -- can increase the value of a home and reduce any taxes due on the profit earned from its sale.

Home repairs provide no immediate tax benefits to a homeowner. They are not tax deductible and they are not added to the home's basis (cost), for tax purposes. As far as taxes go, they are a nonevent. Thus, a homeowner who patches a leaky roof gets not tax benefits.

Home improvements are very different, though. The cost of an improvement is not deductible, but it is added to the home's basis for tax purposes. For example, the cost of adding a new roof to a home is added to its tax basis. This reduces any taxable gain when the home is sold.

Of course, a substantial amount of gain is usually tax free, anyway, under the home sale tax exclusion: $250,000 for single homeowners and $500,000 for married owners filing jointly. But homeowners with substantial equity can still benefit from an increased tax basis in their homes.

For example, if Joe and Jane purchased their home in 1990 for $250,000 and it is now worthy $1 million, they will have a $750,000 gain. A full $500,000 of this amount is tax-free because Joe and Jane are a married couple and qualify for the tax exclusion.

But this leaves $250,000 subject to taxation. If Joe and Jan had spent $250,000 adding improvements to their home, they would have no taxable gain. This is because the $250,000 is added to the home's original $250,000 basis, providing an adjusted tax basis of $500,000.

As a result, their gain on the sale would only be $500,000, not $750,000; and this entire gain would be tax-free because of the $500,000 exclusion.

So how do you tell the difference between an improvement and a repair? Here's the basic rule provided by the Internal Revenue Service: A repair keeps a homeowner's property in good operating condition but it does not:

-Materially add to the value of the property
-Substantially prolong its useful life, or
-Make it more useful (see: Treasury Regulations, Subchapter A, Section 1.162-4).

In contrast, an improvement adds to the value of a homeowner's property, prolongs its life, or adapts it to new uses.

The problem with this definition is that virtually all repairs increase both the value and useful life of the property being repaired. The key difference between a repair and an improvement is that a repair merely returns property to more-or-less the state it was in before it stopped working properly. The property is not substantially more valuable, long-lived, or useful than it was before the need for the repair arose.

In contrast, an improvement makes property substantially more valuable and/or long-lived or useful than it was before the improvement.

You need to compare the situation before and after you made the expenditure involved. Have you just returned your property to the state it was in before the need for the repair arose? Or, have you made it much better?

If the answer to the first question is "yes," you've repaired the home. If the answer to the second question is "yes," it's a home improvement.

Good examples of repairs include repainting a home, fixing gutters or floors, fixing leaks, plastering, and replacing broken windows. Examples of improvements include adding a deck to a home, a new bathroom, installing a new heating system, or putting on a new roof.

Next week we'll discuss how homeowners can make sure that the IRS will view their changes as home improvements rather than repairs.

Stephen Fishman is a tax expert, attorney and author who has published 18 books, including "Working for Yourself: Law & Taxes for Contractors, Freelancers and Consultants," "Deduct It," "Working as an Independent Contractor," and "Working with Independent Contractors." He welcomes your questions for this weekly column.

Friday, July 22, 2011

Buyers Ready to Spend on Green?

Buyers Ready to Spend on Green?

More and more Americans are seriously considering green construction and adding new ­energy-­efficient upgrades—and determining that the cost is worth it.

Heating and cooling a home today is not cheap. But neither is purchasing a solar heating system, installing new double-pane windows, or replacing old appliances. For a long time, the high expense associated with "going green" has kept many home owners from embracing energy-efficient features; instead, they’ve focused on the little things like weather-stripping and using compact fluorescent lightbulbs.

But there are indications that more and more Americans are seriously considering green construction and adding new ­energy-­efficient upgrades—and determining that the cost is worth it.

Green Products Buyers Really Want

"Energy efficiency is not on the wish list for home buyers in 2011—it is on the ‘must’ list," writes Paul Cardis, CEO of Madison, Wis.–based AVID Ratings, which conducts research on home design preferences. Which eco-friendly amenities are grabbing buyers’ attention?

  • High-efficiency insulation
  • High-efficiency windows
  • Double- and triple-glazed windows
  • Tankless water heaters
  • Water-conserving devices
  • Products aimed at improving indoor air quality
  • Renewable flooring products, such as bamboo and cork

Sources: American Institute of Architect’s Home Design Trends Survey (second quarter 2010) and 2010 AVID Home Design Drivers study.

"Expenditures on energy-efficient home improvements, which have been essentially flat over the last few years, will see a period of strong growth through 2014, reaching $50.2 billion in that year," says the new Energy Efficient Homes report by Pike Research, a Boulder, Colo., market research and consulting firm focusing on clean technology.

In response to demand, some home builders such as KB Homes and PulteGroup Inc. are rolling out energy labels for new homes, which provide estimates of monthly energy costs, triggering a different approach to home-shopping for energy-conscious buyers.

Consumers are "motivated to do the right thing about the environment, but they’re also finding they can save money in the long run," says Bob McCranie, green, GRI, broker-owner of Texas Pride Realty in Carrollton, Texas, and a recipient of the 2010 NAR EverGreen Awards.

McCranie says he’s seen his own utility costs fall by 40 percent since outfitting his 1983 home with features including a solar water heater, Energy Star appliances, a solar oven, R50 insulation in the attic, and a water reclamation system. McCranie details his savings on his DallasGreenStreets.com blog and gives consumers tips on how they can do the same.

Connie Morelle, GREEN, GRI, with Keller Williams Realty First Atlanta, says many of her buyers over the past year have expressed concerns about ­increasing utility costs and some are rejecting homes with two-story great rooms and walls of windows—often costly to heat or cool.

Yes, the cost of going green is still an issue for buyers, practitioners say—especially because the upgrades that can cut utility bills by the greatest amount are also the priciest. Solar water heating systems can cost between $1,500 to $3,500 and ­solar panels can cost $15,000, but when used together, they can drop electricity bills to practically nil.

And that’s one reason the price hurdle is getting easier to overcome. With consumer education, more buyers understand the benefit. A recent study by Lawrence Berkeley National Laboratory shows that home owners who install solar panels on their home likely will recoup that investment, and maybe even more, at resale.

Federal tax credits also are helping sway the buyer mind-set, and energy-efficient mortgages are another option to help home owners pay for costly "green" upgrades.

"It’s easy for [home owners] to get overwhelmed with green ideas because there’s so much they can do," McCranie says. "But you don’t have to do every­thing. Just pick one or two things, such as solar cooking or composting, give it a try, and then add something again later."

Thursday, July 21, 2011

Proposed Mill Levy Increase for Overland Park

This information was passed along to us about the Proposed Mill Levy Increase for Overland Park. Hopefully it answers any questions you may have!

Good Afternoon Everyone,

I’ve been getting calls and emails from some of you regarding a possible mill levy increase under a 2012 budget proposed last month by Overland Park City Manager, Bill Ebel. Because this issue is getting a lot of press, I wanted to provide you all with the following information.

The 2012 budget contains two proposals for a mill levy increase: Either a 3.6 or 4.1 mill rate increase.

When the proposed rate increase is applied to the current mill rate of 8.876 mills, Overland Park's mill rate would increase to either 12.476 or 12.976, about half of the five largest cities in Johnson County. In comparison, Leawood’s mill rate is 24.382; Shawnee, 24.717; Olathe, 24.840; Lenexa, 26.626; and Prairie Village, 28.951. This excludes the other taxing jurisdictions including schools. Overland Park has the lowest mill rate of any first class city in Kansas.

The impact to Overland Park homeowners is as follows: A home with a market value of $250,000 would see an annual increase of $104 with a 3.6 mill rate increase or a $118 for the 4.1 mill rate proposal. Currently the same home pays $255.19 in city taxes for the 2011 budget. Less than $22 of that goes to the Police Department; $134 to the Fire Department and $38 to public works.

The City’s budget has been reduced $48.1 million or 18.1 % since 2008. The Capital Improvement Project (CIP) budget has been reduced by over half since 2009, from $225 million to $103 million in 2012. The CIP is a 5 year working plan for capital improvements including streets, bridges, traffic and street lights, sidewalks and more. The city has also deferred maintenance on streets, eliminating $1.7 million annually. Other factors in the budget reduction include a 6% decrease in revenues from all sales and use taxes for 2010 and refunds of more than $28 million over three years that the city had to make as part of the compensating use tax. The refunds have depleted reserves and eliminated the city’s financial flexibility.

Each City Council committee will review the specific proposals within the proposed 2012 budget. These meetings are open to the public. The next public hearing is tentatively set for August 1st. For more information on the proposed budget visit www.opkansas.org. The website also has a tax calculator that residents can go in and see a breakdown of their taxes among the varying taxing jurisdictions.

Please let me know if you have any questions or comments regarding this information and the proposed 2012 budget. I will have more information available at the next KSGAC meeting scheduled for August 5th.

Thank you.

Jeff Carson

Governmental Affairs Director

Kansas City Regional Association of REALTORS®

Wednesday, July 20, 2011

QR Codes

RISMEDIA, July 20, 2011—(EMC)—There is no doubt that you see QR codes everywhere these days—in ads, magazines, posters, etc. They offer exciting opportunities for delivering information quickly to people that are mobile. They also provide a quick and easy way to do more with a single marketing channel.

But before jumping in, it’s important to consider this: QR codes are no different than other direct marketing tools in that you must build a strategy, tactics and plan for testing, tracking and measuring results. Start with a strategy that answers the question, “What do I want to accomplish and how do I get there?”

Audience
Who do you wish to target with a QR code application? Is the audience you’re targeting more or less likely to have access to a smartphone with a QR code reader? If they’re more likely, are they likely to respond? What’s the best way to reach your audience and what potential issues might they have with QR codes? Survey your audience to understand how they want to receive information.

Purpose
What’s the intended purpose of your QR code application? There are many possibilities; the only way to ensure success is to start with a solid plan. Where do you want to take your customer or prospect? What’s the action you want to be taken? Do you intend to use QR codes to enhance your company’s customer service? Provide new or time-sensitive information? Are you trying to engage your customers or prospects with a video or some other media? Are you looking to build social media interaction?

Production
As with other direct marketing tools, there are many behind-the-scenes considerations for QR codes. Is the barcode large enough? QR codes can be various sizes and used in a number of places, but keep in mind that some older mobile phones don’t focus as well on smaller objects.

Is there enough white space? There are specific requirements regarding white space that must be followed. Specifically, QR codes have three positioning elements and an alignment element. This is where an expert will be able to help ensure your QR code is up to par.

Is the QR code low density? QR codes hold thousands of alphanumeric characters. The less dense the code, the more visually appealing it is. It also will fit into smaller spaces and is more easily scanable.

Is the website that the QR code links to formatted for mobile display? Can you ensure proper security for data collection? Do you know what platforms to use and which to avoid? Consult with an expert who’s experienced or if you want to go it alone, research and use reputable online tools.

Measurement
Some excited marketers mistakenly begin implementing QR codes without regard to tracking and measuring results. As with other direct marketing programs, the only way to know if your goals are being met is to track everything. There are tools related to QR codes that can be used to determine if the program is working or needs to be refined.

QR codes are exciting and the possibilities endless. Do the proper planning to ensure that you can realize return on marketing investment each time you use them.

Karen Keenan is director of marketing at Associates International, an integrated marketing services provider. Reach Karen at kkeenan@associatesinternational.com.

Friday, July 15, 2011

Single Women a Rising Force in the Housing Market

Unmarried women continue to make up a growing segment of home buyers and are buying homes in record numbers: Last year, they composed 20 percent of all buyers last year, according to the National Association of REALTORS®. Single men accounted for 12 percent.

The Joint Center for Housing Studies says the three main reasons single women are purchasing homes are:

They have a strong desire to nest (the top-ranked reason).
They want to relocate closer to a job or family.
They need more space.

In capturing this growing segment of female buyers, builders are reflecting more female tastes in the design of homes. For example, in new houses, builders are adding security features, gourmet kitchens, and maintenance-free yards to appeal more to the single woman buyer.

Housing experts say that single women are purchasing homes at various stages in their lives some are new college grads and plan to one day get married while others may be divorced or just want to set up roots in their own place.

Source: “Singles Dive Into the Real Estate Market,” SecondAct/MSN (July 12, 2011)

Article Courtesy of REALTOR(R) Magazine

Wednesday, July 13, 2011

Storing Solvents Safely

Great article courtesy of Premier Inspection Services: