Archive for January, 2010

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The B.O.L.D. Difference

Sunday, January 31st, 2010

Guaranteed Energy Star: The B.O.L.D. Company has made the commitment to construct 100% of our homes to Energy Star Standards, and have been building Energy Star homes since 2001. We also have the expertise to certify your home through the Green Build Kentucky verification program.

Barrier Free Design: Whether your needs are immediate or you are planning for the future, our experience and training can help you plan your home to overcome the obstacles that might stand in your way should you need accessible housing for independent or more convenient living, for you or a family member.

Building on the Lot of Your Choice: The B.O.L.D. Company builds where you want to live. While we do have lots available in various neighborhoods, you are not limited to those sites for your new home. Whether it would be a building lot in a different neighborhood or acreage outside of town, we are experienced in the various site conditions and requirements found throughout the entire Northern Kentucky area.

Building Code Plus: While all builders must follow the building code, The B.O.L.D. Company builds to specifications above and beyond those basic requirements: not just tighter energy codes, but greater structural and performance standards as well. All items are detailed in our 30-page construction specifications that are accessible in your online account during the building process. You are confident your home will be built as promised, perform better, and achieve its maximum investment potential with this web-based tool.

Value Engineered: Quality products and techniques are evaluated as to their actual benefits and value. Initial costs are compared to long-term maintenance and performance to determine the most cost effective combination of items to construct your home. Quality and efficiency at any cost is not acceptable and must be justified economically over the life of your home.

Permanent Subcontractors and Suppliers: While The B.O.L.D. Company, like the remainder of the industry, uses subcontractors, we do not bid each job and just award it to the lowest bidder. We use quality-minded permanent subcontractors that we select after a thorough review and on-the-job performance evaluations. As a result you will see the same subcontractors on job after job, with many having worked on our projects since the company was founded in 1986. Their pride and craftsmanship are evident in each home.

Design/Build: The B.O.L.D. Company will design, draw and construct the home of YOUR choice. Whether you have a complete set of blueprints or just an idea of what you would like and need help in looking at all the options, we can meet your needs. Our in-house design, drafting and engineering gives you the flexibility to construct your home with the features of your dreams, not just a cookie-cutter production plan similar to every other home on the street.

Service to Satisfy: While we have many quality checks in the construction process to minimize service issues, they do occur. We are always willing to take care of those items that come up from time to time. Our full time service technician and our ownership team are available to you should the need arise.

Do Business with the Owners: From design, pricing, and selections, to construction and warranty service, you are always working with one of the owners of the company. Any questions, concerns or changes can be handled on the spot and discussed with one of the decision-makers of the company. You will have a higher comfort level knowing the owner is with you at every step.

Posted in Home Features, Residential News | No Comments »

Visit Us at the Home & Remodeling Showcase

Saturday, January 30th, 2010

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Home Buyer Tax Credit Facts

Saturday, January 30th, 2010

The Federal home buying tax credits have expired but review the two Kentucky programs still available. Contact us for more information.

The New Home Tax Credit is a nonrefundable credit, up to $5000, against individual income tax allowable to a qualified buyer, provided a cap of $25,000,000 for all approved New Home Tax Credits has not been met.

• The up to $5,000 state income tax credit can be applied against state tax liability for the purchase of a new, not previously occupied home in the state of Kentucky.

• To qualify you must fax the New Home Tax Credit form to the Department of Revenue at (502) 564-3706 within seven (7) days of the closing.

• The tax credit is non-refundable, meaning you will not receive a refund of any unused portion and may not be carried forward or backward to another year.

• The home purchased must be a single family dwelling that will be used as the primary residence for at least two years.

• New homes must be purchased, with a complete sale by July 26, 2010 to qualify.

To Apply For the Credit:

  • Submit a Kentucky Form 40A103 Application for New Home Tax Credit application via fax within seven (7) calendar days of the escrow closing between the buyer and the seller.
  • Kentucky Form 40A103 may be accessed via link to application.
  • FAX to the Department of Revenue at (502) 564-3706

A Mortgage Credit Certificates (MCC) reduces the amount of federal income tax you pay, giving you more available income to qualify for a mortgage loan. MCCs are NOT mortgages. They are tax credits that put extra cash in your pocket each month, so you can more easily afford a house payment.

• Through the Kentucky Housing Corporation, the federal government allows first time homeowner an income tax deduction for part of the interest paid each year on a mortgage loan. The Mortgage Credit Certificate gives you a tax credit of up to $2,000 each year (25% of total interest), which reduces the amount of federal income tax you pay and puts more money in your pocket during the year.

• The credit can be taken for the life of the loan. If you sell your home before nine years you could be subject to a Federal Recapture Tax

MCC Brochure

Posted in Home Economics, Housing Economics, Loans and Closings | No Comments »

Houses Sizes Shrink, But Some ‘Must Haves’ Remain

Monday, January 25th, 2010

Houses are getting smaller, according to data released last week by the National Association of Home Builders.

The association said that the average size of a new home in 2009 was 2,480 square feet, down from 2,520 square feet in 2008.

“The era of easy money is over. You really have to think before you go out and decide you need that five-bedroom, five-bath home,” said Rose Quint, the organization’s assistant vice president for survey research.

Despite smaller home sizes and tightening credits, there are still some features that are expected in new houses. Builders say the following are most likely to be standard in homes built in 2010:

  • Walk-in closets in the master bedroom.
  • Laundry rooms.
  • Insulated front doors.
  • Great rooms.
  • Energy-efficient windows.
  • Linen closets.
  • Programmable thermostats.
  • Energy-efficient appliances and lighting.
  • Separate shower and tub in master bathrooms.
  • Nine-foot ceilings on the first floor.

Source: MarketWatch, Steve Kerch (10/22/2010)

Posted in Home Economics, Home Features, Housing Economics | No Comments »

Your Home’s Components Do Not Last Forever

Monday, January 25th, 2010

Many aspects of a home last little more than a decade. Home buyers should be especially vigilant about inspecting these household components because they have a relatively short lifespan, says the National Association of Home Builders.

  • Aluminum roof coating: 3-7 years
  • Enameled steel sinks: 5-7 years
  • Security systems: 5-10 years
  • Carpet: 8-10 years
  • Smoke detectors: fewer than 10 years
  • Faucets: 10-15 years
  • Garage door openers:10-15 years
  • Air conditioners: 10-15 years
  • Asphalt: 12-15 years
  • Termite-proofing during construction: 12 years

Source: Bankrate.com, Marcie Geffner (01/22/2010)

Posted in Home Features, Home Maintenance, Home Safety | No Comments »

6 Surprising Facts About the Buyer Tax Credit

Saturday, January 23rd, 2010

The homebuyer tax credit is not as simple or straightforward as you might think. Here are some nuances that will affect homebuyers who plan to use it.

  • To qualify for the move-up tax credit, a home owner must have occupied the same principal residence for five of the last eight years consecutively.
  • Buyers can elect to claim the credit on either their 2009 or their 2010 tax return, whichever is best for them.
  • Buyers who claim the credit in 2009 can’t file electronically because the Internal Revenue Service hasn’t put the required forms on line. The wait for a refund is three or four months.
  • The home can be a mobile home or travel trailer that is fixed to land owned or leased by the home owner. A mobile home or travel trailer that is actually mobile doesn’t qualify.
  • The home can’t be purchased from a close relative, including a parent, spouse, child, grandparent or grandchild.
  • A buyer who earns no taxable income or doesn’t owe any federal income tax can qualify for the tax credit and file a tax return just to claim it.

Source: Bankrate.com, Marcie Geffner (01/21/2010)

Posted in Home Economics, Housing Economics, Loans and Closings | No Comments »

10 Cities Where it is Smarter to Buy Your Home

Saturday, January 23rd, 2010

For people who want to own a home, the premium to buy—the spread between what they’d spend to rent and what they’d pay for a mortgage—is much lower than the 15-year average in many cities.

To determine what cities are smart buys, Forbes magazine computed the premium and also identified locales where economists predict home prices will go up the most over the next five years.

Here are the top 10 cities the magazine chose as the best places to buy right now.

  1. Boston-Cambridge-Quincy, Mass.
  2. Charlotte-Gastonia-Concord, N.C.-S.C.
  3. Chicago-Naperville-Joliet, Ill.-Ind.-Wis.
  4. Cincinnati-Middletown, Ohio-Ky.-Ind.
  5. Denver-Aurora-Broomfield, Colo
  6. Minneapolis-St. Paul-Bloomington, Minn.-Wis.
  7. Philadelphia-Camden-Wilmington, Pa.-N.J.-Del.-Md.
  8. Portland-Vancouver-Beaverton, Ore.-Wash.
  9. San Francisco-Oakland-Fremont, Calif.
  10. Washington-Arlington-Alexandria, D.C.-Va.-Md.-W.V.

Source: Forbes, Francesca Levy (01/21/2010)

Posted in Home Economics, Housing Economics, Locations | No Comments »

Tax Credit is Encouraging Buyers to Shop Early

Thursday, January 21st, 2010

The homebuying season is starting early this year, thanks to the expanded first-time and move-up homebuyer tax credit.

Typically, the busiest time for home shopping starts in March and continues through May, but this year buyers who want to take advantage of the tax credits have to have a signed contract by April 30 and close the deal by June 30.

That is getting people off the couch.

“The tax credit will absolutely have an effect,” says Pete Flint, CEO of residential real estate search engine Trulia.com. “It is going to shift demand from the later part of the year to the first part. January and February will be very strong. The next three months, there will be a surge in demand.”

Source: USA Today, Stephanie Armour (01/20/2010)

Posted in Home Economics, Housing Economics | No Comments »

Housing Economists: Sales Are on the Rise

Wednesday, January 20th, 2010

The housing recovery should gain moment in 2010, but the improvement will still be slow, according to a panel of economists speaking at the International Builders Show in Las Vegas.

“It won’t be a strong recovery, but it will be a recovery,” said David Crowe, chief economist for the National Association of Home Builders.

Crowe forecast that sales of new homes will rise by about 33 percent while resales will go up 7 percent. He expects prices to remain stable in most areas, but some cities may see some slight declines.

“I believe we’ve seen the worst of the house price declines … The stage is set for the consumer to return,” Crowe said.

Source: Associated Press, Alex Veiga (01/19/2010)

Posted in Housing Economics | No Comments »

Home Buyers Face Tax Credit Delays

Friday, January 15th, 2010

Home buyers who purchased a property after Nov. 6, 2009, when the extension and expansion of the first-time and move-up home buyer tax credit took effect, have reportedly been unable to get their rebates—or even file for them—because paperwork isn’t available.

Robert Dietz, an economist with the National Association of Home Builders, says the delay is apparently caused by the Treasury Department’s inability to quickly create new documentation that filers could use to prove they actually bought a property.

Previously, all a home buyer had to do was file a form that said they’d purchased a property. No proof was required. As a result, there were thousands of reports of fraud. This time around, the IRS is seeking ways to force home buyers to prove their eligibility.

Mary Mellem of David & Mary Mellem, EAs & Ashwaubenon Tax Professionals, says it probably will be another three months before the problem is resolved.

Source: CNNMoney.com, Les Christie (10/14/2010)

Posted in Home Economics, Housing Economics, Loans and Closings, Tax Credit | No Comments »

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