2011-12 Cost vs. Value: Big-Bang Remodeling Projects

Find out which remodeling projects will provide the biggest bang for your buck this year, according to Remodeling magazine.
Optimizing the use of space in a home will not only attract buyers but also give sellers more bang for their buck, according to Remodeling’s “2011–12 Cost vs. Value Report,” conducted in cooperation with REALTOR® Magazine and NAR’s HouseLogic.com.
An attic bedroom addition costing $50,148 was expected to recoup 72.5 percent of the cost nationally—inching up 0.3 percent from the 2010–11 report. The minor kitchen remodel also fared well, returning an estimated 72.1 percent of the nearly $20,000 job cost.
The report looks at the estimated cost and expected resale return of 35 midrange and upscale remodeling projects in 80 markets. The estimated costs and returns were derived from a survey of more than 3,000 REALTORS® conducted last summer. As in past years, REALTORS® picked exterior projects to recoup the most at resale. Among those, new fiber-cement siding was expected to provide the highest return, recouping an estimated 78 percent of the $13,461 cost.

Top 6 Returns

Siding Replacement (upscale) - fiber-cement
Job Cost: $13,461
Resale Value: $10,493
Cost Recouped: 78%
Entry Door Replacement - steel
Job Cost: $1,238
Resale Value: $903
Cost Recouped: 73%
Attic Bedroom Addition
Job Cost: $50,148
Resale Value: $36,346
Cost Recouped: 72.5%
Kitchen: Minor Remodel
Job Cost: $19,588
Resale Value: $14,120
Cost Recouped: 72.1%
Garage Door Replacement
Job Cost: $1,512
Resale Value: $1,087
Cost Recouped: 71.9%
Garage Door Replacement (upscale)
Job Cost: $2,994
Resale Value: $2,129
Cost Recouped: 71.1%
Remodeling’s2011-12 Cost vs. Value Report ©2011 by Hanley Wood, LLC. Republication or redissemination of the Report is expressly prohibited without written permission of Hanley Wood, LLC.“Cost vs. Value” is a registered trademark of Hanley Wood, LLC.Visit www.costvsvalue.com for information on all 35 projects. There, you can also download a free PDF providing information on average cost and resale value nationally, regionally, and in a specific market. Estimates for construction costs were compiled by HomeTech Publishing.

Biometric Locks: Even the Jetsons Would be In Awe

Biometric locks employ high-tech fingerprint recognition technology to verify your identity before allowing a locked door to be opened.

George Jetson would definitely be eyeing a biometric lock as a present for his boss, Mr. Spacely. In addition to keeping Spacely Sprockets safe from the prying eyes of rival Spencer Cogswell, a biometric lock will provides home security and ease of entry—no more fumbling with keys.
A biometric lock uses an optical or thermal scanner to read and memorize your fingerprint (and the fingerprints of other authorized users who you decide should have access to your home).
Opening a biometric door lock is typically a two-step process. First, press your fingertip—or hand—to the scanner, and the device identifies your unique characteristics. Next, you type an authentication code into a keypad to open the lock.

Biometric locks characteristics

• Goodbye, keys. You’ll never leave your fingerprints in your other pants, so biometric locks offer convenience and fast entry for an authorized user.

• Biometric power. Many biometric security systems provide alternate key access in case the battery-operated system fails.

• The ouch factor. Some biometric scanners will no longer recognize your fingerprint if you get a cut or develop a scar.

• Price particulars. Biometric door locks range from $69 to $350 or more, and are readily available at hardware stores and home improvement centers.

Three innovative biometric lock ideas

• Safe keeping. The portable BioBox Fingerprint Safe is sized (about 7x11x2 inches) for stowing small items such as jewelry, cash, medications, or a firearm. Press your fingertip to the scanner on top for quick one-second access. Stores up to 30 fingerprints for multiple users, and operates on four AA batteries. Sells for about $200.

• Computer critter. BioCert Hamster IV Optical Fingerprint Reader connects to any Windows PC as a security feature for your computer. The device is designed to work with special software to capture high-quality fingerprints from a wide range of traditionally difficult fingers, including those from dry, wet, scarred, or aged skin, and in bright ambient conditions such as under direct sunlight. Priced at about $100.

• Alarming option. If someone tries to break the BioAxxis Biometric Deadbolt lock, an alarm sounds. Named the best fingerprint door lock by Good Housekeeping Research, the lock sells for about $69.

Read more: http://www.houselogic.com/home-advice/home-security/what-are-biometric-locks/#ixzz22tIxfJWg

Do-It-Yourself Home Security Check: 5 Essential Steps

1. Keep your home well-maintained on the outside.
Burglars want an easy target. Stand on the street outside your house and ask yourself: Does my property look neglected, hidden, or uninhabited? A front door or walkway that’s obscured by shrubbery offers crooks the perfect cover they need while they break a door or window. To improve security, trim shrubs away from windows and widen front walks.
2. Install motion detector lights.
All sides of your house should be well-lit with motion-activated lighting, not just the front. Simple motion-activated floodlights cost less than $50 each, and installing them is an easy DIY job if the wiring is already in place.
3. Store your valuables.
Thieves want easy-to-grab electronics, cash, jewelry, and other valuables, though some are not above running down the street with your flat-screen TV. Most make a beeline for the master bedroom, because that’s where you’re likely to hide spare cash, jewelry, even guns. 

Tour each room and ask yourself: is there anything here that I can move to a safe deposit box? Installing a home safe ($150 to $500) that’s bolted to your basement slab is a good repository for items you don’t use on a daily basis.
4. Secure your data.
While you probably won’t be putting your home computer in a safe anytime soon, take steps to back up the personal information stored on it. Password protect your login screen, and always shut off your computer when not in use (you’ll save energy, too!) Don’t overlook irreplaceable items whose value may hard to quantify, like digital photos.
5. Prepare ahead of time in case the worst happens.

• Take a photo or video inventory of items of value in your home, and store the file online or in your home safe.

• Check that you’re properly insured for theft. Note that high-ticket items in your home office, such as computers, professional camera equipment, or other business essentials, may require an additional rider or a separate policy.

Source: http://members.houselogic.com/articles/do-it-yourself-home-security-check-5-essential-steps/preview/

Construction Spending Picks Up in June

The homebuilding industry posted another gain in construction spending in June, marking the third consecutive month for increases, the Commerce Department reported Wednesday.
After a sluggish last few years, the homebuilding industry continues to dig toward a recovery, posting big year-over-year improvements that has many analysts saying the sector has finally reached the tipping point toward recovery.
In June, construction spending increased 0.4 percent. Last month, spending gained 1.6 percent -- an upwardly revised number -- which marked the largest one-month increase since December. The increase has been most driven by a rise in residential housing construction.
Overall, June construction spending was up 12.9 percent compared to February 2011, which at the time had marked a 12-year low for the sector.
However, economists warn that the homebuilding industry still has a long way to go. While there has been recent improvement, construction spending levels are still about half of what most consider healthy for the industry.
Source: “Construction Spending Rises in June, but Manufacturing Slows,” USA Today (Aug. 1, 2012)

5 Porch Pick-Me-Ups Under $500

Want to put a little pep in your porch? Here are 5 budget-friendly ways to add value and get more enjoyment out of your front-facing outdoor space.

Sprucing up your porch is more than a cosmetic upgrade — it’ll boost your curb appeal and help preserve the value of your home. As a bonus, you’ll even get some neighborhood bragging rights. Here are five simple porch pick-me-ups, each costing less than $500.

1. Adding architectural pizzazz
Sweeten your porch’s appearance with a wide variety of architectural trim pieces in weather-resistant wood or low-maintenance synthetics (PVC or polyurethane). They’re readily available at home improvement centers.

Most porch trim pieces install with nails or screws and require basic tools and moderate do-it-yourself skills. Or, hire a handyman for a few hours at $30-$60 an hour.

• Add decorative brackets (starting at $20 each) where support posts meet the ceiling.

• Span the space above porch stairs with a fancy fretwork spandrel ($200 for 6 feet).

• Shapely corbels ($30 and up) lend charm under the eaves.

2. Painting the floor
You’re walking on sunshine when you splash color on a porch floor. Use good-quality exterior paint made for porch floors ($30-$45 per gallon) and follow the manufacturer’s guidelines for prepping the surface so the paint won’t peel.
If the old paint dates prior to 1978, find out if the paint is lead-based. If necessary, remove lead paint.

Once the basecoat dries, you can add a painted design, such as a faux rug, using stencils. Or outline your motif with quick-release painter’s tape to ensure crisp edges.

3. Fanning a breeze

Stir up your own cooling breezes by adding a ceiling fan to your porch. Be sure to select a ceiling fan model designed for outdoor use ($75-$250).
Wiring a fan is a task you can do yourself in less than an hour if there’s an existing electrical box and you have the right electrical tools. Or, hire an electrician ($75-$200) to wire the fan.

4. Creating privacy

If your exposed porch leaves you feeling like a goldfish in a bowl, add home privacy using one or more of these makeover strategies:

Louvered shutters: Tall louvered panels, or shutters, filter light while allowing breezes to blow freely across your porch. Select shutters in wood, vinyl, or PVC; prices start at about $50 for a 12-by-64-inch shutter.

Install one or more shutters floor-to-ceiling or just above the rail to create a private spot on the porch. You’ll need an afternoon to install shutters, typically by securing wood cleats to the floor and fascia and fastening the shutters to the cleats with screws.

Outdoor fabric: Add a little romance, color, and pattern to your porch with fabric panels that draw closed for privacy. Weather-resistant curtain panels with grommet tops come in a variety of lengths, and start at about $60 per panel.

You’ll need a few hours to install a rod ($50 for a wrought-iron rod that extends to 130 inches) and hang the panels. Or, buy weather-resistant fabric (starting at about $10 per yard) and make your own panels.

Lattice: Like shutters, lattice panels allow filtered light and breezes onto your porch, while obscuring the view. You can install several panels in an afternoon using standard tools and fasteners. A 4-by-8-foot wood lathe lattice panel costs about $20. Decoratively patterned lattice PVC panels start at about $30. Visit a home center to find prebuilt wood or PVC privacy panels with custom looks, starting at about $200.

Plants: For botanical beauty, add a lush, living privacy screen. Trail flowering vines, such as fast-growing morning glory ($2 for a seed packet) or clematis ($15), up lattice panels; or plant tall but narrow-spreading evergreen, such as Thuja Green Giant ($100 for an 11-foot tree), beside the porch.

You can also use tall container plants on the porch and move them around where needed. Bamboo (about $40 for a 3-gallon container) grows quickly and provides leafy, light-filtering beauty.

5. Screening it in

Ban buzzing pests from your porch haven with screens. Use porch railings as the frame for supporting screens and staple screens in place. Use thin lathe strips or molding to cover staples and the screen edge.
Or, build frames using ¾-inch-thick, pressure-treated lumber. You can build a 6-by-6-foot frame for less than $15. Stretch the screen across each frame and staple it in place. A 100-foot roll of 4-foot-wide patio screen starts at about $55.

Mosquito curtains are another option that you can install yourself on a sliding track in 5 or 6 hours. Floor-to-ceiling curtains (less than 10 feet tall), which cover a 25-foot wide span, plus the track and hardware, cost about $475.

Read more: http://www.houselogic.com/home-advice/home-improvement/porch-ideas/#ixzz22J3BBq23

Fashion Icon to Speak at University of Evansville

One of the most recognizable names in the clothing industry is scheduled to speak at the University of Evansville in October. Calvin Klein is slated to kick off The Institute for Global Enterprise in Indiana's year-long speaker series that also includes a former Harley-Davidson Inc. (NYSE: HOG) executive and a Tony Award winning producer.



The Institute for Global Enterprise in Indiana, part of the Schroeder Family School of Business Administration at the University of Evansville, is proud to announce the 2012-13 Institute Speaker Series, sponsored by Old National Bank.

"Our primary objective at the Institute for Global Enterprise in Indiana is to assist regional businesses in improving their global capabilities," said Dan Miller, the Institute's executive director. "The three speakers we are announcing today are recognized figures who will help us learn about global branding, transformation of businesses, and innovation, based on their first-hand experience and success in these areas."

The series begins Wednesday, October 24 with an appearance by Calvin Klein, an award-winning fashion icon recognized globally as a master of minimalism. His name ranks among the best-known brands in the world, with Calvin Klein Inc. reaching over $6 billion in global retail sales. Klein will speak in Indianapolis at noon and at Evansville's Victory Theatre at 7:00 p.m. (local times). His appearance is presented in partnership with the Rotary Club of Indianapolis.

The series' next event on Thursday, March 14, 2013 will feature Ken Schmidt. As the former director of communications for Harley-Davidson Motor Company, Schmidt played an active role in one of the most celebrated turnarounds in corporate history — and got paid to ride motorcycles. He will speak in Indianapolis at noon and at Evansville's Aiken Theatre in The Centre at 6:00 p.m. (local times).

The 2012-13 Institute Speaker Series will conclude Tuesday, September 17, 2013 with an appearance from John Kao, an innovation activist who has been dubbed "Mr. Creativity" by The Economist. Kao, the chair of the Institute for Large Scale Innovation, holds an MD from Yale Medical School and an MBA from Harvard Business School. He is also a Tony Award-nominated producer of Broadway plays and a jazz pianist. He will speak in Indianapolis at noon and at Evansville's Victory Theatre at 7:00 p.m. (local times).

Admission to all Evansville events is free and open to the public. Ticket information for Indianapolis events is forthcoming. For more information, please contact the Institute for Global Enterprise in Indiana at 812-488-2455 or globalindiana@evansville.edu.

The core purpose of the University of Evansville is to provide students with life-transforming educational experiences that prepare them to engage the world as informed, ethical, and productive citizens.

Source: University of Evansvillle http://www.insideindianabusiness.com/newsitem.asp?ID=54930

Kitchen Showplaces Use Hot Color -- Sparingly

Designers of today's local new homes are continuing to regard the kitchen as the functioning central gathering place – the family’s social hub, where a great deal more than meal preparation takes place. The trend toward bigger kitchens is on track: many feature kitchens designed with open space for family gatherings as well as multi-generational cooking. Many new homes deck out their kitchens in the hottest new colors (it’s become a widespread international fashion trend).

When you are making decisions about your own kitchen, if you decide to keep future home values in mind, your color choices may differ from what they might have been a decade ago. According to HGTV, "People are viewing kitchens that have too much of any one color as flat, so more color is definitely the way to go."

Earthy tones like golden yellow, mossy green and mocha brown are still prevalent in the kitchens of today's new homes. These tones blend well with black appliances and dark wood cabinetry. Many people choose these colors to go with an earthy, down-home, farm-inspired decorative theme. What’s different is the addition of accents that “pop.” Adding modest touches of colors like strawberry ice to predominantly tapenade green is one example.

Cerulean blue, bright white and seafoam green are more ‘new millennial’ color choices: they go well with stainless steel appliances and any sleek, modern decor. Many consumers are choosing blue handcrafted tiles for counter backsplashes in their new homes.

For the brave (and those with an excellent designer), purple paired with orange is the kind of decorative theme that uses color opposites to create a feeling of energy and vigor. Such combinations allow the color to pop against the relatively bland tones of the room's appliances and woodwork – they reflect the recent movement towards Middle Eastern inspiration in interior design. These pairings, known as “mystic” tones, are safest when they appear in modest doses.

In any of Evansville’s new homes, the perfect kitchen decor is the one the owners find fits their own family. When that dovetails with the 21st century kitchen’s position as the most prominent gathering place, one that most people find appealing and comfortable – it is also likely to be a choice that adds value for future owners. If you are considering a major kitchen overhaul and would like some expert advice on what sells, I can help with some ideas that have produced widely-appealing modern kitchen designs.