Mortgage Rates Keep Dancing With 'Record'

Mortgage rates in the U.S. declined over the past week as rates continued to hold near record lows, according to Freddie Mac’s weekly survey of mortgage rates. For the week ended Thursday, the 30-year fixed-rate mortgage averaged 3.88%, compared with 3.9% the previous week and 4.88% a year ago.

Rates on 15-year fixed-rate mortgages averaged 3.13%, compared with 3.17% a week earlier and 4.15% a year ago. This shorter-term mortgage is a popular option for refinancing, and the latest rate marks a new record low in the survey, which has tracked the 15-year fixed since 1991.

Five-year Treasury-indexed hybrid adjustable-rate mortgages, or ARMs, averaged 2.81%, compared with 2.83% the prior week and 3.73% a year ago.

To obtain the rates, 30-year and 15-year fixed-rate mortgages required an average 0.8 point payment. Five-year and one-year adjustable rate mortgages required an average 0.7 point and 0.6 point payment, respectively. A point is 1% of the mortgage amount, charged as prepaid interest.

Source:  The Wall Street Journal

3 Hot Trends For Kitchen Remodeling in 2012

Mulling a kitchen remodel but want to keep costs low? You’re au courant with today’s trends that emphasize options and high-tech wizardry at affordable prices.

Trend #1: Remodeling scales back

A new focus on moderation and value has entered the remodeling mind-set. Trends that are likely to show up in your kitchen next year include:

You’ll repair your existing appliances instead of replacing them, extending their life with good maintenance and care. If you’re replacing cabinets, you’re likely to build around your current appliances rather than choosing new models.

You’re scaling back your cabinetry purchases, with an increased emphasis on kitchen storage and functionality over elaborate decoration. For example, rather than stacked crown moldings throughout the kitchen, you’ll put your money into practical roll-out trays and drawer organizers.

Small-scale kitchen projects are big news. Changing out cabinet hardware, replacing a faucet, and refacing your cabinets upgrades your kitchen without major expense.


Trend #2: Simpler, warmer styles dominate

Fussiness and excess have faded away in favor of pared-back looks that present a more timeless, value-conscious style.

Cabinet decoration continues to streamline. For example, massive corbels, once fashionable as undercounter supports, will give way to sleeker countertop supports and cantelivered countertop edges. Stacked moldings will pare back or disappear entirely. Elaborately glazed finishes will yield to simpler paints and stains.

Kitchen finishes will continue to get warmer and darker, and feature natural and stained woods. Walnut especially is growing in popularity.

Laminate countertops will continue to surge in popularity, especially in contemporary design. The latest European-inspired laminates offer more textured and naturalistic finishes than ever before. While exotic wood kitchen cabinets are out of reach for most home owners, glossy, look-alike laminate versions can be had for about one-third the price.


Trend #3: Technology expands its kitchen presence

Many of the techno products and trends that relate to your smartphones and tablets have just started making their way into your local showrooms and home centers.

Appliances will be equipped with USB ports and digital screens so you can display your family photographs and kids’ artwork.

Smart, induction built-in cooktops ($500-$3,000) remember your temperature settings as you move your pans across their entire surface.

One light finger touch is all it takes to open the electronically controlled sliding doors of your kitchen cabinets — a boon to people with limited mobilities. You’ll pay 40% to 70% more for cabinets with electronically controlled doors than standard models.

You’ll be able to use your smart phones and tablets to control lights and appliance settings from anywhere you have a wi-fi connection, as well as to shop for appliances from major manufacturers.

You’ll be opting for LEDs for your recessed lights, under-cabinet task lighting and color-changing accent lighting. You’ll see more LED-powered pendants and chandeliers from major manufacturers as inefficient incandescent bulbs continue their march toward extinction.

A wide selection of affordable microwave ovens with convection and even steam features gives owners of smaller kitchen spaces more high-end cooking power.

Weekly Market Update: March 12, 2012

The last six years or so have been tough on home prices, and even the most optimistic prognosticators say it will take another six years for median sales prices to approach the halcyon days of assured annual value increases for home sellers. Generations of stable home price increases gave way to a boom-and-bust cycle that would have made the Pets.com sock puppet blush. As we enter what should be an active spring market, our communities would do well to focus effort toward creating healthy, happy homes. With those in place, prices will rise again.

In the Twin Cities region, for the week ending March 3:

• New Listings decreased 23.2% to 1,402
• Pending Sales increased 29.7% to 940
• Inventory decreased 22.9% to 17,818

For the month of February:

• Median Sales Price decreased 1.1% to $138,500
• Days on Market decreased 9.0% to 145
• Percent of Original List Price Received increased 2.6% to 90.6%
• Months Supply of Inventory decreased 36.5% to 4.6

Source:  Minneapolis Area Association Of Realtors

Garage Doors With The Look Of Wood At A Budget Price

New die technology lets fiberglass doors mimic wood grains so closely that only a professional eye can tell the difference. But unlike wood, which is vulnerable to heat and water and must be painted or stained every few years, pre-finished fiberglass garage doors are impervious to the elements and require almost no maintenance.

Other plusses of fiberglass garage doors:

• Won’t warp, rot, or rust
• Insect-proof
• Lightweight
• Available in many prefinished colors
• You can paint them (but you’ll have to repaint every couple of years or so)

Although the energy efficiency of insulated fiberglass and insulated wood doors are practically the same, the initial cost can be worlds apart.


Most 16-by-7-foot fiberglass doors cost about $1,800 installed, while hardwood doors start around $2,500 to $3,000, then zoom up from there depending on wood and style. Your local garage door contractor can help you explore your faux door options.


What’s the downside of fiberglass garage doors? They can crack with age and are more expensive than other low-maintenance options, such as steel garage doors ($750 to $1,200).

Source:  HouseLogic

Open Houses: March 11, 2012

2484 Gunflint Court - Chanhassen
$525,000
5 bedroom/4 bath
SqFt: 3,858
OPEN:  12:00 to 2:00

Only available do to relocation, this Longacres home features a Great Room floor plan with a Gourmet Kitchen offering cherry cabinetry, granite counters and refinished hard wood floors. Other features include a main floor Office, Private Master Suite and fully finished lower level with a custom entertainment center, fireplace, wet bar and Exercise Room. Walk to one of the two neighborhood parks and enjoy the close proximity to the City of Chanhassen and Village of Excelsior! To schedule a private showing, please contact Stafford Family Realtors at 952.470.2575.

Click HERE for more information.

2650 Northview Drive - Minnetrista
$1,299,000
4 bedrooms/6 bath
SqFt: 5,547
OPEN 3:00 to 4:40

Enjoy the tranquil "Up North" setting of this private estate. Nestled on 45+ acres of maple forest with 1500 feet of lakeshore on Whaletail Lake. This stunning home was thoughtfully designed by Michael Huber & built by Erotas. Offering breath taking spaces, long views and an amazing attention to detail, this home is truly a Northwoods retreat. Offering many opportunities for recreational boating, fishing & hunting.

Click HERE for more information.

For Sale: 5BR/2 2BA Single Family House in Bloomington, MN, $393,000

Presenting Another Exceptional Home from Stafford Family Realtors

9617 Morris Circle ~ Bloomington, MN

393,000

Nestled on a quiet cul-de-sac lot, this sun filled home offers an open floor plan 

w/generous room sizes, 4 BR's up & walkout lower level w/kitchenette & exercise room.

For more information please visit http://www.staffordfamilyrealtors.com/or for a private showing please call 952.470.2575

For Sale: 5BR/2 2BA Single Family House in Bloomington, MN, $393,000

Celebrity Listing: Jon Huntsman Sr.

Jon Huntsman, the Utah governor turned ambassador to China turned an almost presidential candidate, is—apologies to Creedence—a fortunate son. His father, businessman Jon Huntsman, Sr. is a billionaire and profoundly generous philanthropist who has given more than a billion dollars in donations over his lifetime. So when Jon Sr. invites Jon Jr. to go skiing for the weekend, it's no surprise they spend that time in a massive mansion in one of America's premier winter destinations. Located on a 60-acre bluff overlooking downtown Park City, the 20,000-square-foot spread includes 12 bedrooms, 16 baths, an indoor swimming pool, an utterly massive detached garage, a game room, and a gym, along with cavernous entertaining spaces. The ultimate in Park City living, just minutes from Deer Valley Mountain Resort, is listed for $49.5M.





Jon Huntsman Sr.



Jon Huntsman Jr.

Sources:  Wall Street Journal and Curbed.com

Weekly Market Update: March 5, 2012

Those who follow the numbers already know that 2012 is shaping up to be a year of encouraging change in the market. Since all real estate is local, recovery won't occur evenly across all areas or segments. People are watching closely for signs of bottom and signs of recovery without fully knowing exactly what to look for. Fewer for-sale signs is a good tip-off, so is an improving jobs picture. Absorption rates heading back down toward the four-to-seven month range is also a welcoming omen. Slowly but surely, sellers will start to see more of their asking price as they face less competition – particularly from banks. Low interest rates should prevail through 2014 but high-quality inventory may not.

In the Twin Cities region, for the week ending February 25:

• New Listings increased 1.2% to 1,250
• Pending Sales increased 49.5% to 957
• Inventory decreased 23.5% to 17,755

For the month of January:

• Median Sales Price decreased 3.4% to $140,000
• Days on Market decreased 8.6% to 142
• Percent of Original List Price Received increased 3.3% to 91.2%
• Months Supply of Inventory decreased 33.7% to 4.8

Source:  Minneapolis Area Association of Realtors

Backsplash Ideas

Fabulous Faux

If you’re looking for a money-saving DIY project, install laminated thermoplastic panels. Cut these molded-plastic materials with scissors and mount them with caulk or double-sided tape. There are lots of styles and colors; this one mimics oiled bronze.

2012 ACP

Pro: Moisture- and stain-proof; easy to install; good DIY project; lots of textures and colors; easy to clean

Con: Susceptible to heat; improperly applied adhesive may cause panels to loosen

Cost: Kit with 18 sq. ft. of backsplash, trim, outlet covers, & tape is $150

All That Glitters

A top choice for appliances and sinks, stainless steel extends its repertoire with eye-catching countertops and backsplashes. This gleaming backsplash is brushed stainless on a plywood backing. Making a stainless steel backsplash is an art, and fabrication is a large part of the cost. Cleaning it is also an art!



Croma Design, Inc.



Pro: Heat- and moisture-resistant; great-looking; spills wipe up easily

Con: Fingerprints can be tricky to clean; expensive; modern look isn’t for everybody

Cost: $100-$250 per square foot, installed


Ageless Beauty

A favorite material since ancient times, marble makes elegant backsplashes and countertops. It’s susceptible to staining, so once a year protect it with a quality stone sealer — $20 for 1 oz. treats 50 sq. ft.

Benjamin Dhong Interior Design / Jose Picayo, photographer

Pro: Timeless good looks; readily available; durable; non-toxic

Con: Can be pricey; not a DIY job; stains easily if poorly maintained

Cost: $20-$200 per sq. ft. for a custom marble backsplash including installation; save money with marble tiles at $10-$20 per sq. ft.


Sign of the Times

Made from metal and porcelain, this vintage marquee display from the 1950s makes a cool backsplash — it’s durable, moisture-resistant, and easy to clean. You’ll find salvage building materials at your local ReStore, salvage yards, and on Craigslist.



Room designed by Stimmel Consulting Group, Inc.



Pro: Adds one-of-a-kind personality to your kitchen; easy to clean; salvage-hunting may yield a bargain

Con: Finding backsplash-worthy salvage takes time; quirky look not for everybody

Cost: $200 and up


High Style on a Budget

Painted a contrasting color and splashed with under-cabinet lighting, an inexpensive beadboard backsplash is the center of attention. Pre-finished beadboard comes as plywood or fiberboard panels. Plastic (PVC) planks are good near sinks. Seal seams and joints with quality waterproof caulk.

Divine Kitchens, LLC

Pro: Inexpensive; easy to install; PVC is moisture-proof

Con: Not as durable as hard-surface; may warp or blister if exposed to high heat

Cost: $15-$30 per 4-by-8-ft. sheet; PVC panels are about $2 per sq. ft.


Custom Ceramic Tile

Ceramic tile comes in limitless styles, colors, and shapes, and a tile backsplash pairs with any countertop surface. A moderately skilled DIYer can tackle a tile project.

The Rookwood Pottery Co.

Pro: Stands up to moisture, heat, and grease; easy-to-clean; widely available

Con: Custom tiles can be pricey; cleaning grout gets old

Cost: $1 to $250 per square foot; installation adds $5-$10 per sq. ft.; custom tiles start around $30 per sq. ft.


The Double-Take Backsplash

A mirrored backsplash looks like you can see through the wall. It’s a classy treatment that’s not too over-the-top. Mirrors reflect lots of light, so your countertop workspace is doubly bright.



Brooks & Falatico, architects /
Terry Pommett Photography



Pro: Resists scratches and repels stains; reflects light; style-on-a-budget value

Con: Constant vigilance to keep clean; susceptible to heat; brittle material in a high-traffic area

Cost: Mirror is $8-$15 or more per sq. ft. installed, depending on complexity of the job


Who Has Handsome Hues?

Want a blast of easy-care color for your kitchen? Back-painted glass comes in thousands of custom colors. The color layer coats the back of ¼-inch tempered glass, giving each hue incredible depth and luster. Fabricators use large sheets of glass that minimize seams, and a qualified local glazier completes installation in 2-3 hours.



GlassKote USA, LLC



Pro: Fantastic colors; tempered glass is easy to clean, resists heat and scratches

Con: Can be expensive; brittle material in high-traffic area

Cost: $20-$80 per sq. ft. installed


Rock-Solid Investment

Backsplashes made with tumbled marble, limestone, and travertine tiles have an Old World look. With their tiny pits and crevices, tumbled stone tiles should be resealed once a year with a quality, low-sheen stone sealer ($20 for 1 oz. treats 50 square feet). Some companies offer tumbled tiles treated with filler for an un-pitted surface.



Divine Kitchens, LLC



Pro: Durable; timeless good looks; heat-resistant

Con: Needs periodic maintenance; lots of grout lines to keep clean

Cost: $6 to $75 per sq. ft.


American Classic

Granite backsplashes often are paired with granite countertops for a seamless look. The appeal of granite is universal, and it blends with any kitchen decor. Pre-finished granite backsplash pieces reduce the need for yearly upkeep.



Devine Kitchens, LLC



Pro: Durable; impervious to moisture; naturally beautiful; local varieties hold costs down (no added shipping); pairs with countertops to create seamless look

Con: Needs periodic maintenance; exotic granites are expensive

Cost: 61-by-4-inch pre-finished granite backsplash is $80


The Art of the Backsplash

Sure, your backsplash has a practical side. But that doesn’t mean it has to look like a kitchen workhorse. Hand-painted murals and designs start with plain white ceramic tiles. Once the painting is complete, the tiles must be glazed and fired in a kiln.

David H. Mitchell & Associates, interior design
 / Rebecca Cross, artist

Pro: Adds unique art to the kitchen; durable finish resists stains and heat

Con: Pricey; unusual artwork may affect resale

Cost: $200-$300 per sq. ft., including tile; installation adds $5-$10 per sq. ft.

Source:  HouseLogic

Weekend Happenings: 2012 Minneapolis Home & Garden Show

2012 Minneapolis Home & Garden Show
Minneapolis Convention Center
1301 2nd Avenue South
Minneapolis, MN 55403
Fri-Sun, March 2-4, 2012
Fri:  10:00am-10:00pm
Sat:  9:00am-9:00pm
Sun:  9:00am-6:00pm
Cost:  Adults $13 (online $11), Kids 6-12 $4, 5 and under FREE, Group tickets $9 each (Min of 20 tickets)

See the newest products in home, décor, kitchen & bath, outdoor living and more.  Be fascinated by one of the nation's most renowned garden and landscaping exhibits.  Tour the idea home, see the latest in lighting, explore outdoor living spaces, buy merchandise and enjoy the food.  There is plenty to see and do at the Home and Garden Show.

Celebrity guests include Chip Wade of HGTV's Curb Appeal, Yigit Pura of Bravo's Top Chef, Mark Brunetz of Style Network's Clean House, along with many local celebrities.  Take in cooking shows and contests, watch live demonstrations, browse the local vendors and enjoy yourself.  There's something for everyone in the family.

Click HERE for a schedule of events.  You can also follow the show on Facebook, Twitter, and YouTube.

What You Should Know Before Buying A Home

When I moved out of my parents’ house and into my freshman dorm room, I had no idea that my existing concept of “home” would change so dramatically. Throughout college and my first few years in the real world, I found a reason to move every single year. Yes, really — nine times in nine years, always during the summer, and never without a flight of stairs on at least one end. It’s a small wonder no one was ever seriously hurt on account of my furniture.

As I grew a little older (and a wee bit more mature), I was feeling like a permanent nomad and longed to live somewhere for a matter of years — not months — that actually felt like a home. Not to mention, as I started to create a professional life, it felt a little less-than-professional coming home to a noisy apartment complex where I had to battle for a parking space.

But before I was officially ready to take the home-ownership plunge, I reached out to my family and friends for advice and spent some time doing research online. This was overwhelming to say the least — there’s a lot of information out there, and a lot of opinions on the best route to take. Nevertheless, I’m glad I did it. I learned about mortgage options, escrow accounts and HOA fees, and doing my own research gave me a good look at the entire process and a better idea of what to anticipate.

And then, the search began.

It took several months and a minor emotional roller coaster, but I closed on my first house in early 2009. It was a three bedroom, two bath built in the 1950s and completely restored. I loved the house, the neighborhood and, let’s be honest, the fact that I wouldn’t be renting a U-Haul any time soon.
The process wasn’t always the smoothest, and it probably isn’t for any first-time home buyer. But looking back, there are five key pieces of advice that I would share with anyone just starting the search. Here’s what you should know now, that I didn’t know then.

1. The right Realtor will lead you to the right house

I didn’t want to pick a real estate agent out of the blue, and found mine through a mutual family friend. We hit it off immediately — I trusted her and had full confidence in her skills. More importantly, she listened (to everything!). I never had to repeat my preferences and I wasn’t pressured into anything.

This, however, is definitely not everyone’s experience. I can’t stress enough how important it is to choose someone who you feel completely comfortable with, who listens to your priorities and your concerns, and who has your best interests at heart. Not only is this a major life decision, but you’re going to be spending a lot of time with this person.

2. Educate yourself

I compare buying a house to planning a wedding or expecting a baby, in that every person you know will have an opinion on what you should do, say and feel. But remember, though this is a huge decision, it’s your decision, and one you need to be comfortable with, independent of any outside influences.

So before you start asking your friends and family for their advice, take the time to educate yourself on all sides of the process: mortgages, comparable properties, market trends. You’ll then be able to filter everyone else’s experiences and advice through your own information. There are tons of free resources available — check out the National Association of Realtors Buyers Guide or the U.S. Department of Housing and Urban Development to start.

3. A neighbor is forever

Or at least, it sometimes feels that way. I made it a point to talk to different people who lived on my street before I bought my house, but was still surprised by some of the neighborhood antics I’ve witnessed. Like the house with six cars, parked on the street, all the time. Or the strange antisocial couple four doors down, or the loud dog next door. Of course, you’re never going to find a place with the perfect neighbors and people can always move in and out — but it’s good to know what you’re getting into on the front end.

4. Rome wasn’t built in a day

And you likely won’t be able to update, furnish or decorate your new home in a day, a month or even a year. When I bought my house, I felt a sudden pressure to transform it into a Pottery Barn catalog, but soon realized I would end up losing my mind and my credit score in the process. It’s perfectly OK to update the bathrooms, do the landscaping and buy furniture and decorations in stages. No one expects your place to be perfect right away. Plus, there are some awesome ways to add character and décor on a budget. Thrift stores and Pinterest will become your new best friends.

5. Two words: hidden costs

Everyone warns you about this, but it doesn’t quite hit you until you’re writing checks to exterminators, carpet cleaners, landscapers and plumbers. The list goes on — and it certainly doesn’t end after you close on the house. It’s hard to think about saving again after such a big purchase, but you must. Strange and unexpected costs will sneak up on you — broken heating systems, leaking roofs — and they love to arrive around holidays and vacations, when money is already tight. Trust me on this.

While these may not be the most crucial factors in the home-buying process, they were the ones that had the most surprising impact on my experience. And they’re what I still remember, three years later.

Above all, remember that — whatever it looks like and wherever it sits — you should absolutely love the home you buy. It will be a lot of money, time and work, but also will be where you live, love and build memories, hopefully for many years to come.


Source:  Forbes:  The Daily Muse

Top 5 Energy Efficient Improvements

Experts say that you have to do at least five energy efficient improvments to your home before you start seeing savings in your utility bills.  Not everyone can afford to replace their appliances or all their windows.  So if you only had $1,000, what top 5 things should you spend your money on?  Suzanne Shelton, president and CEO of Shelton Group, a marketing agency specializing in sustainability and energy efficiency, sat down for a Q&A with HouseLogic to talk about simple things you can do to improve the efficiency of your home.

1. Caulk and seal all penetrations into the home. I’ll tell you, I had a home energy audit done three years ago, and even though I do this for a living, I was astonished. When the guy walked me down into my basement and showed me all the penetrations from plumbing lines and electricity wires, I couldn’t believe all the gaping holes in my house. Buy a few cans of Great Stuff and take a weekend to go around and seal everything, filling around windows, too. It takes time and it’s a pain, but it works.

2. Hire an HVAC contractor to take a hard look at all your ductwork — are there any ducts leaking that need to be re-sealed? — and give you an HVAC tune-up. You might spend a couple hundred bucks, but you can save significantly depending on how old or out of shape your HVAC system is.

3. Replace all your lighting with CFLs or LEDs. Most people tell us they’ve replaced all their incandescents, but it just isn’t true. The DOE says that only about 13% of sockets are filled with CFLs right now.

4. Program your thermostat. Most people who buy programmable thermostats don’t program them. If we actually programmed them not to heat the furniture while we’re away, that would be smart.

5. Reduce the temperature on your water heater. The Department of Energy recommends 120 degrees. If you have a tank water heater, it keeps a certain amount of water hot and ready to go all day, so lowering the temperature reduces the energy you use to heat the water.

If, after you’ve done all those relatively low-cost things, you want to make a little bit more of an investment, consider adding insulation to your house.

No one wants to do these things because they’re not sexy, and they’re kind of a pain, and windows seem more appealing. But I’d do all these activities before I replaced my windows.

Source:  HouseLogic

Weekly Market Update: January 27, 2012

The week left yet another trail of evidence leading back to a housing market on the mend. This time, the encouraging signs were even less clandestine. Nationally, both new and existing home sales enjoyed improvements. Even some December numbers were upwardly revised. New home sales have real and noticeable impacts on GDP, thus generating jobs and driving down unemployment. The overall bias for the entire U.S. is firmly toward balance. Locally, market activity was mostly positive. Spring will still be the major tell.

In the Twin Cities region, for the week ending February 18:

• New Listings decreased 7.1% to 1,256
• Pending Sales increased 28.6% to 899
• Inventory decreased 23.2% to 17,756

For the month of January:

• Median Sales Price decreased 3.4% to $140,000
• Days on Market decreased 8.5% to 142
• Percent of Original List Price Received increased 3.4% to 91.2%
• Months Supply of Inventory decreased 34.2% to 4.7

Source:  Minneapolis Area Association of Realtors

When To Repair Or Replace Large Appliances

When your refrigerator, dishwasher, or washing machine act out, you may feel torn about whether to call a technician or junk the unit in favor of something new. In times of plenty, it’s easy to convince yourself that a product requires replacement when all it really needs is a minor repair. But today, your more prudent self may be scrutinizing every financial decision. Conversely, the cost of repair can be a case of throwing away good money that could be better spent on a more energy-efficient model.

Use these six guidelines to home in on the smart choice for you the next time your appliances behave badly.

1. Still under warranty?

Here’s the simple part. Check the owner’s manual and your records to see if the unit is still under warranty. If so, schedule a service call with an authorized technician.

Warranties vary widely between manufacturers, appliances, even retailers. Most cover parts and labor for a specified time, followed by a period of just parts. If you purchased an extended warranty from the retailer, examine that document as well.

2. No longer under warranty—how old is it?

The closer an appliance is to the end of its average useful life, the wiser it is to replace rather than repair, says Jill A. Notini, vice president of communications for the Association of Home Appliance Manufacturers. Average Useful Life is the typical age at which an appliance needs to be replaced because it dies or proves too costly to repair.

Given that most refrigerators last an average of 14 years, it may not be financially prudent to repair a 12-year-old model. Conversely, it might make sense to fix an 8-year-old built-in oven knowing that generally, it should last 16 years.

3. The 50% rule

For appliances that are no longer under warranty but still in the prime of their useful life, consider the 50% rule. If the cost of the repair will be more than half the price of a comparable replacement, it’s generally wise to replace it, says Celia Kuperszmid Lehrman, deputy home editor at Consumer Reports magazine. The rationale? For the price of the repair and one future repair, you can enjoy a more reliable new machine.

To help make your decision, get a repair estimate. Service calls come with a price whether or not the appliance gets fixed, so factor that into your decision. Angie’s List pegs the average cost of an appliance service call at $60 to $100, not counting the repair itself. Many service providers will deduct these charges if they’re hired to complete the repairs. If you decide to go ahead with the repair, expect additional service visits to complete the process.

4. Can you fix it yourself?

Because labor accounts for more than half the cost of a typical repair, you can save big by tackling jobs yourself. Numerous online resources can help diagnose and fix common appliance ailments. Many of these same sites also maintain databases of owner’s manuals while connecting appliance owners with reputable parts suppliers.

The downside? You risk causing additional damage to machines if you’re not the handy person you thought you were. Worse, there’s the danger of physical harm. And self-help repairs often nullify warranties.

5. Factor in future energy and water savings

Present-day appliances are so much more energy and water efficient than previous models that it can be fiscally wise to upgrade rather than repair. A modern refrigerator uses roughly half the electricity of its 20-year-old predecessor, says Notini. New dishwashers get plates every bit as clean as older machines while using a fraction of the water and energy.

But replacing an aging appliance with a new highly efficient one still requires some evaluation. “If you intend to stay in your home for another 10 to 15 years, it may be worthwhile to upgrade to the latest efficient model, Notini says. If you’re planning a move soon, it may be smarter to repair it and pass it on to the next homeowner.

6. Take into account hidden costs

There’s more to the cost of replacing an appliance than the price of the new machine. If you have built-in cook-tops and refrigerators, you may face costly modifications to countertops and cabinetry when you replace, says Lora C. Donoghue, a kitchen designer in Charlotte, N.C. Even so-called standard-size machines may not fit into the same space as your previous model as standards continue to evolve.

Or the placement of water connections and power outlets may differ. And switching from an electric range to gas can involve a costly visit from the plumber or utility company. Likewise, upgrading from an older gas range to a newer one with electronic features may require the installation of a new wall outlet.

Although these guidelines can help you make an orderly fiscal decision, you may find that your enjoyment of a new unit—perhaps your dream appliance is on sale—simply trumps everything else.

Source:  HouseLogic

Open Houses: February 26, 2012

4211 Kings Road - Chanhassen
$612,000
4 bedroom/4 bath
SqFt: 3,734
OPEN:  12:00 to 2:00

Pulled from the pages of a Pottery Barn catalogue, this beautifully finished home features designer touches throughout. Enjoy the warm, sun-filled rooms perfectly designed with family and entertaining in mind. Good food and good company are two of life’s greatest pleasures and this Gourmet Kitchen is where it all comes together. Expertly crafted cabinetry, granite counters and harlequin tiled backsplash finish off this French country inspired space. Complete with an informal dining area, this is truly the heart of the home. You’ll enjoy curling up with your morning coffee on the large window seat and watch the sun rise. The Great Room features a wall of windows, cozy gas fireplace and enameled bookcases & entertainment center. This space is perfect for relaxing with family or entertaining with style. The second floor is where you will find the Master Suite with its vaulted ceiling and private bath offering spa finishes. It includes a large soaking tub, separate shower, Water Closet as well as custom mirrors and light fixtures. In addition to the master Suite, there are 3 Junior Bedrooms, two share a spacious Jack & Jill Bath and the third bedroom has an en-suite Bath – or Princess/Guest Suite. There’s plenty of room for playing in the spacious 2nd floor Bonus Room. The lower level is unfinished and ready for you to finish to your liking. Nothing compares to spending time outside and the large deck spans the back of the home and is the perfect perch to watch the kids at play. Enjoy a short walk to Roundhouse Park that has a skating rink and warming house as well as large playground and the Lake Minnewashta beach is perfect for swimming or fishing off the pier. This home is located in the award winning Minnetonka School District. Children in this neighborhood attend Minnewashta Elementary, Minnetonka Middle School West and Minnetonka High School. The City of Chanhassen is desirable to families and businesses alike. The many festivals and events held throughout the year receive tremendous support from the local businesses; it is these celebrations of community that keep the small town feel alive in Chanhassen. For information or to schedule a private showing, please call 952.470.2575.

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2484 Gunflint Court - Chanhassen
$525,000
5 bedroom/4 bath
SqFt:  3,858
OPEN:  12:00 to 2:00

Only available do to relocation, this Longacres home features a Great Room floor plan with a Gourmet Kitchen offering cherry cabinetry, granite counters and refinished hard wood floors. Other features include a main floor Office, Private Master Suite and fully finished lower level with a custom entertainment center, fireplace, wet bar and Exercise Room. Walk to one of the two neighborhood parks and enjoy the close proximity to the City of Chanhassen and Village of Excelsior! To schedule a private showing, please contact Stafford Family Realtors at 952.470.2575.

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For Sale: 4BR/2+2BA Single Family House in Chanhassen, MN, $612,000

 Presenting Another Exceptional Home from Stafford Family Realtors

4211 Kings Road ~ Chanhassen, MN

$612,000

Pottery Barn Beautiful!  This Exceptional home features a Gourmet Kitchen w/custom cabinetry, granite counter tops, harlequin tiled back splash, upgraded fixtures, an upstairs Bonus Room, large backyard & a spacious Trex deck!

For more information please visit http://www.staffordfamilyrealtors.com/or for a private showing please call 952.470.2575

 For Sale: 4BR/2+2BA Single Family House in Chanhassen, MN, $612,000