“It’s a hot item,” said Scott Redmon, owner of Alfresco Living in
Maitland, Fla. “And the outdoor kitchen is becoming a lot more than a
grill and a sink in the corner of the porch. It’s a whole entertainment
system. People have a higher expectation for their exterior spaces since
HGTV came around.”

Outdoor kitchens are popular because they are fun to live with, said
Russ Faulk, vice-president of product development at Kalamazoo Outdoor
Gourmet in Kalamazoo, Mich. “They add to the quality of life for the
homeowner. Preparing a meal outdoors is not a chore, it’s an occasion, a
reason to have friends over and enjoy the process.” In addition, an
outdoor kitchen expands a home’s living space and adds to its value, he
said. “The return on your investment is comparable to an indoor kitchen
redo.”

Since the economic downturn, “People have been unable to sell their
homes, so they are starting to upgrade with better landscaping and
outdoor kitchens, spending more time at home,” said Sue Fern, manager of
the Florida chapter of the American Society of Landscape Architects.

The built-in grill was the start of the outdoor-kitchen trend, said
Faulk. “Then came the sink, the refrigerator, a counter for food prep,
cabinets for storage—pretty much what you’d have in an indoor
kitchen.” As more equipment is added, outdoor “rooms” are becoming
larger and more covered, he said. Seating areas are added, along with
outdoor TV sets, fire pits and water features.

The grill—fired by gas, wood or charcoal—is still the heart of the
outdoor kitchen. Especially popular are hybrid grills, which can be
switched from gas to wood or charcoal, depending on what is being
cooked, said Faulk. “There’s nothing like grilling fish over an oak fire.”

Pizza ovens are starting to threaten the grill’s reign as king of the
outdoor kitchen. Oven designs range from large, wood-fired brick and
clay ovens that take several hours to heat up, to compact countertop
models fired by gas that are ready for baking pizzas in 20 minutes.

Also gaining popularity in outdoor kitchens are keg-tappers, wine
chillers, ice makers and warming cabinets.

When designing an outdoor kitchen, be sure to look for low-maintenance
equipment, said Faulk, “or you defeat the purpose of carefree outdoor
cooking.”

Also, make sure any cabinetry is designed to keep the contents clean and
dry in inclement weather; install good task and ambient lighting and
choose counter-top material that is stain- and grease-resistant and
stays cool in direct sunlight.

“Get counter-top samples, leave them in the sun and see how hot they
get,” advised Faulk. “Heat-retention is not always related to color.
Some light colors get hotter than dark colors.”

He also offers these cost-cutting tips: “Design the outdoor kitchen
against the house to reduce the cost of getting utilities to the space.
And buy the best grill you can afford.”

When designing an outdoor kitchen, “Consider how the space will be used:
as a personal refuge or a place to entertain and be social; as a place
to cook and eat, or to drink and socialize,” said Eduardo Xol, exterior
designer on Extreme Makeover: Home Edition and celebrity designer for
hayneedle.com.

And remember, indoor-outdoor living helps balance the soul. It keeps you
connected with nature and helps you become more aware of living green.

–
Bojana (Bo) Foster, Broker
Voted Best Agent 2006 ~ 2009 in the Best of Nisqually
Signature Service Real Estate, Rainier
360 446-4646 ext 11
Bo@SignatureService.com
www.SignatureService.com

“…Buy Land. They’ve stopped making it”.
Mark Twain

^[1] RISMEDIA,
July 14, 2010—(MCT)—Courtney Zinter doesn’t have a big house with
rooms full of stuff, a fancy car or a manicure habit. But she still has
it all. Just not how the Joneses next door would define it. With a
well-paying job, Zinter had no problem paying the mortgage on her
1,600-square-foot townhouse in Chaska, outside Minneapolis. But at 29,
she sold it and moved to a $590-a-month studio apartment that overlooks
a freeway on the outskirts of downtown Minneapolis.

She could have certainly afforded a rental that had at least a bedroom
and separate living space in a hipper part of town. But she didn’t
because she’s realized something that it takes many people decades, if
not a lifetime, to figure out: Money and stuff don’t equal happiness.

Growing up in Silver Bay, Minn., with a dad who worked as a financial
associate for Thrivent Financial for Lutherans, Zinter was schooled
early on about the value of a dollar. And when she graduated from
college in 2002, she followed in Dad’s footsteps, starting as a
financial representative for the company. With a job in place, she
checked off the next thing on the ‘you’re an adult now’ to-do list:
homeownership. “I thought the thing to do was buy a house as soon as I
could. You grow up thinking that’s what you do,” she said.

The townhouse she found was spacious, complete with a wet bar and patio.
But over the years, her two-hour bus commute to downtown Minneapolis
gave her plenty of time to think “What am I giving up for this place?”

Then a trip to El Salvador in November 2008 for a Habitat for Humanity
project made her realize just how many things she owned and how little
most of it meant to her. “I decided I had to make some changes in my
life,” she said. So she sold her townhouse last fall for a bit less than
she owed, found a good family for her piano and gave away a lot of her
things.

Zinter set a goal to find an apartment for $500 per month—$1,000 less
than her old mortgage payment. (The new place isn’t quite that low, but
she no longer needs a bus pass). And that’s on top of her already
impressive savings habits. She has more than $130,000 in retirement
accounts, despite starting to invest during a decade when the stock
market hasn’t been kind to aggressive young investors like herself. Her
emergency savings is fully funded as well.

Many of us only realize after we buy the big house and the closets of
clothing and toys that we have too much stuff and too many financial
obligations. Unwinding ourselves from the financial burdens of a big
house payment or car lease can be difficult, especially in this economy.

*If you’re inspired by Zinter’s decision to downsize at a time in life
when most people are trading up, how should you start?*

-Make incremental changes. Zinter didn’t chuck all of her stuff at once.
“I would often take laps around my house and ask myself ‘what I could
get rid of without regretting my decision?’ If she realized she was only
keeping something for sentimental value—like that large collection of
T-shirts from high school that she never wore—she took pictures before
chucking the stuff. She admits that she sometimes misses the oversized
chair that went with her couch. “But I can only sit in one place at a
time,” she said.

-Think about what you want, not what you think you’re supposed to want.
When she decided to sell her townhouse, “It felt like in society’s eyes
I was going backwards. I went from owning a nice place to renting this
very small space.” Even today, she feels as if she needs to explain
herself. Otherwise, people assume she’s forced to live below her means
because she’s deep in debt.

-Save your money. “Even if you earn little interest, at least you saved it.”

-Fewer fixed expenses equals more freedom. “In my mind, if I get
dependent on spending money every week or two on something, it becomes a
fixed expense and I try to minimize those as much as possible. I guess
it’s the freedom issue again. I’ve minimized what I have to spend each
month, and the rest is mine for whatever I want to do with it.”

(c) 2010, Star Tribune (Minneapolis)

The Pending Home Sales Index, a forward-looking indicator, dropped 30%
to 77.6 based on contracts signed in May 2010 from a reading of 110.9 in
April, and is 15.9% below May 2009 when it was 92.3. The falloff comes
on the heels of three strong monthly gains as home buyers rushed to take
advantage of the tax credit.

The data reflects contracts and not closings, which normally occur with
a lag time of one or two months. However, many closings have been
delayed recently from a rush of buyers into the system and slow
processing of short sales, in addition to the heavy volume and a more
thorough loan underwriting process. As many as 180,000 buyers who signed
contracts by April 30 may have missed the June 30 closing deadline for
the tax credit. However, Congress passed legislation recently to extend
the deadline for delayed contracts and President Obama is expected to sign.

NAR chief economist Lawrence Yun said, “Consumers are rational and they
rushed to meet the tax credit eligibility deadline in April. The sharp
decline in contract signings in May is a natural result with similar low
levels of sales activity anticipated in June,” he said. “Surprisingly,
though, some local markets such as Portland, Maine and Jacksonville,
Fla., actually experienced an increase in contract signings from a year
ago without the tax credit. Existing-home sales that close in June will
remain elevated, but we’ll then see a notable decline for July and August.”

Congress also reauthorized the National Flood Insurance Program. Many
lenders were hesitant to approve mortgages on homes needing flood
insurance without congressional action and numerous sales have been on
hold. The action is retroactive to a temporary authorization that
expired May 31, and also is expected to be signed by the president.

Yun noted the tax credit has broadly stabilized home prices. “Without
the tax credit, there will be more aggressive price negotiations between
buyers and sellers. The key test on whether the housing market can stand
on its own without stimulus medicine will depend critically on private
sector job creation in the second half of the year. We’ll also keep a
close eye on market conditions on the Gulf Coast.”

Through May of this year, 495,000 net private sector jobs have been
created; NAR’s forecast for employment growth is about 1 million
additional net new jobs over the balance of the year and another 2
million in 2011.

“If jobs come back as expected, the pace of home sales should pick up
later this year and reach a sustainable level of activity given very
favorable affordability conditions,” Yun said.

“In most areas of the country, there will be no sharp snap back in home
prices in the upcoming years, although some local markets have
experienced double-digit gains this year,” Yun said. NAR forecasts the
national median home price to rise only 4% cumulatively over the next
two years.

“One factor that could lead to price acceleration in upcoming years for
some markets is if the very low levels of new home construction were to
persist for another year or two,” he added.

The PHSI in the Northeast fell 31.6% to 67.0 in May and is 14.8% lower
than May 2009. In the Midwest the index dropped 32.1% to 70.8 and is
20.2% below a year ago. Pending home sales in the South fell 33.3% to an
index of 82.5, and are 14.4% lower than May 2009. In the West the index
declined 20.9% to 85.3 and is 15.1% below a year ago.

For more information, visit www.realtor.org ^[2] .

This past November, Congress elected to expand the home buyer tax credit to repeat buyers after seeing the success the temporary financial incentive had on the housing market and overall economy. As a result, current homeowners who will have lived in their home for 5 consecutive years out of the last 8 may now be eligible to receive a $6,500 tax credit.

“The expanded tax credit offers a great financial opportunity for existing homeowners, particularly those looking to trade up,” said James M. Weichert, president and founder of Weichert, Realtors, one of the nation’s largest independent real estate companies. “Not only can you receive a large sum of money from the government, you’ll also likely purchase your next home for less money and at a lower interest rate than you could have in years past or years to come.”

To qualify for the tax credit, the repeat buyer must have signed a binding contract by April 30, 2010 and close on the home by June 30, 2010. Tax credit eligibility is subject to income limits, $125,000 for single buyers and $225,000 for couples. In addition, the sale price of the home being purchased can not exceed $800,000.

There is no requirement that existing homeowners must have sold their home to be eligible for the $6,500 tax credit. However, Weichert encourages existing homeowners who want to benefit from this incentive to move quickly, particularly those who prefer to first sell their current home before purchasing a new one.

“Typically, it takes three months or longer to sell a home. That’s why it is critical repeat buyers put their home on the market right away. Otherwise they might not leave themselves enough time to both secure a buyer for their current house and find a new home by the April 30 deadline,” added Weichert.

If you have gone through-or are considering-a divorce, take a close look at the issues involving your credit. Pay attention to the status of your credit accounts. If you maintained joint accounts during your marriage, it is important to continue to pay the regular required payments. As long as there is an outstanding balance on your joint account, both you and your spouse are responsible for payment. Generally, any debt incurred by your spouse is also your responsibility, regardless of whose name is on the account.

If you are contemplating separation or divorce, you may wish to contact your creditors in writing to ask that they close your joint accounts (or accounts where your spouse is an authorized user). The creditor cannot close a joint account because of a change in marital status, but they may close a joint account at either spouse’s written request. The creditor does not have to change a joint account to an individual account, and may ask you to reapply for a credit account as an individual and then, on the basis of your application, extend or deny you credit.

Consulting an attorney regarding these sensitive matters is always prudent.

Look out for more of my Information for Life

Sincerely,

Tim Barlow

Cornerstone Home Mortgage
www.timloans.com
Tel: (360) 570-0106
Fax: (360) 570-1001
Direct:(360) 250-3400
3604 Henderson Blvd. SE
Olympia WA 98501