As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed new legislation that:

• Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010.
• Expands the credit to grant up to $6,500 credit to current home owners purchasing a new or existing home between November 7, 2009 and April 30, 2010.

Here is more information about how the Extended Home Buyer Tax Credit can help prospective home buyers become part of the American dream. If you have specific questions or need additional information, please contact a tax professional or the Internal Revenue Service at 800-829-1040.

Who Qualifies for the Extended Credit?

• First-time home buyers who purchase homes between November 7, 2009 and April 30, 2010.
• Current home owners purchasing a home between November 7, 2009 and April 30, 2010, who have used the home being sold or vacated as a principal residence for five consecutive years within the last eight.

To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.

If you or your client purchased a home between January 1, 2009 and November 6, 2009, please see: 2009 First-Time Home Buyer Tax Credit.

Which Properties Are Eligible?

The Extended Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops.

How Much Is Available?

The maximum allowable credit for first-time home buyers is $8,000.

The maximum allowable credit for current homeowners is $6,500.

How is a Buyer’s Credit Amount Determined?

Each home buyer’s tax credit is determined by two additional factors:

1. The price of the home.
2. The buyer’s income.

Price

Under the Extended Home Buyer Tax Credit, credit may only be awarded on homes purchased for $800,000 or less.

Buyer Income

Under the Extended Home Buyer Tax Credit, which is effective on November 7, 2009,  single buyers with incomes up to $125,000 and married couples with incomes up to $225,000—may receive the maximum tax credit.

These income limits have changed from the 2009 First-Time Home Buyer Tax Credit limits. If you or your client purchased a home between January 1, 2009 and November 6, 2009, please see 2009 First-Time Home Buyer Tax Credit.

If the Buyer(s)’ Income Exceeds These Limits, Can He/She Still Get a Credit?

Yes, some buyers may still be eligible for the credit.

The credit decreases for buyers who earn between $125,000 and $145,000 for single buyers and between $225,000 and $245,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income—over $145,000 for singles and over $245,000 for couples are not eligible for the credit.

Can a Buyer Still Qualify If He/She Closes After April 30, 2010?

Under the Extended Home Buyer Tax Credit, as long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close.

Will the Tax Credit Need to Be Repaid?

No. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during this three-year period, the full amount credit will be recouped on the sale.

Have you ever received multiple bids for a remodeling project, only to find that the length and detail in each bid varies greatly?  Have you noticed that some contractors overload you with paperwork such as material lists, legal sounding forms, and contracts to sign, while others … sometimes the lowest bidders … have submitted their bid on one page?  If they all seem trustworthy, but you are not sure if you feel comfortable conducting business on a one-page document … your instincts are correct!

When it comes to hiring a contractor and signing a contract, it is important to make sure your home and finances are protected.   Each contractor presents their bid in a different manner indicating what they will be doing and how much it will cost.  There is much variability in what is included and how they are written, and yes … some contractors are more detailed than others.  Beware of contracts that are brief … too little information leaves a lot to be interpreted … or misinterpreted.

A contract should be written using simple language to avoid any confusion.  Characteristics and specific information recommended to be included in any remodeling contract are as follows:

Project Scope and Specifications
Ensure all contractors bidding on your job are bidding off the same information. The scope of work should be very specific as to the remodeling you want done.  It should include drawings and dimensions, the kinds of materials to be used, brand names, colors, grades, styles, and model numbers.  A brief bid leaves too much room for interpretation, and you have nothing to protect yourself in the event the contractor does not construct what you had in mind.

Building Permits
Whoever obtains the permits is required to ensure that the work meets all building codes.  The contractor should be the one to obtain the permits so that they are responsible for the work. 

Starting and Completion Date
Construction delays are to be expected, however they should be limited.  A general statement establishing a starting and completion date while allowing for reasonable delays should be included in any contract…as well as the consequences.

Change Order Clause
A change order clause requires that all changes be in writing to protect all parties involved.  Any changes made to the contract must be approved and signed by both you and your contractor.

Names of Subcontractors and Suppliers
The contract should include the names of all subcontractors and material suppliers so you can obtain lien waivers indicating all subcontractors and material suppliers have been paid before you issue final payment to the contractor.  This will protect you from any action against you by the contractor, subcontractors or suppliers.

Schedule of Payments
Avoid any contractor who requires a large percentage of the payment up front.  It is customary to make a “good faith” down payment of a small percentage of the total job and set up a payment schedule based on completed stages of the project.  The total project price or how the price will be calculated should also be clearly defined in the contract. 

Holdback Clause
This states that final payment will be withheld until sometime after job completion. This will allow you time to inspect the work, provide an incentive for the contractor to remedy any problems, and obtain lien waivers from the contractor indicating all sub-contractors and suppliers have been paid.

Cleanup 
Construction and remodeling projects make a huge mess!  Be sure to establish who will do the cleaning, how often, and to what level of cleanliness. 

Home Warranties
Ask your contractor to provide you with a written warranty for their labor and the materials used to complete your project.  This will protect you if the work performed begins to fail after the contractor has received final payment.

This is a list of the basics that should be included in a contract; there are many other items that can be included, depending on the type and size of job.  If your contractor is not incorporating these items, you may want to take it upon yourself to ensure the following issues are documented and signed by both parties.  And if you have any questions regarding your interest, you may want to have an attorney review the contract before you sign anything.

Remember, ultimately the contractor works for you, you are the boss!  Do not sign anything until you are absolutely comfortable with the contractor and that the terms of the contract are meeting your needs. 

You might also benefit from viewing the following related article:
Handicap Accessible Bathrooms: Important Info

This story was submitted by one of our readers and may have originally appeared HERE
Get this and other real estate news from www.MyDesMoinesrealty.com

4390 169th St, Clive

Listed at $509,900

Home appraised at $570,000! Gorgeous 4 Bedroom home on huge lot backing to trees and park-like setting. Over 3850 finished square feet in this Ranch built on a quiet and tranquil cul-de-sac. The home features a Gourmet Kitchen with granite countertops, island & built-in desk. The Master Bath boasts a jet tub, ceramic shower, separate water closet and double sinks with a granite vanity top. Curl up with a good book in the Four Seasons room off Kitchen that leads to a deck showcasing a spectacular view of the exquisite backyard! Entertain in the spectacular Formal Dining Room. The office showcases a wall of built-in shelving. Spend time with the family in the finished walkout lower level with its own wet bar & plenty of built-ins. This is a first class home built with the highest of standards by a 14 year award winning builder. City is adding an additional 50 trees.

Don’t let another day go by with out seeing this home! Call Beth (515.537.9922) or Pat (515.577.6040) for an Appointment TODAY!

4311 162nd St, Urbandale  $574,900  $565,900

 

This 4 bedroom/ 4 bath home has it all! Enjoy the luxury of an oversized laundry on the main level why haul laundry up and down stairs if you don’t have to.. The master suite is a retreat with double walk-in closets, a tiled shower, double raised vanities, and is complete with a jet tub! The Dining room off the kitchen features crown molding along with maple & painted white linen trim thru out with routed sheet rock corners. After a hard day at the office relax in a two story great room with a unique fireplace and gaze into the backyard through beautiful Pella Architectural Windows. The walk-out lower level is definitely worth taking a look at featuring a bedroom with a walk-in closet & full bath, a large family room with a wet bar plus a 1/2 bath & for the movie lover, a 14×20 Home Theater Room! Bringing the family together would create lasting memories in this home! 

Don’t let this one slip by call Beth (515.537.9922) or Pat (515.577.6040) for an Appointment to see this home today!

4329 168th Ct, Clive       $429,900

There is AMAZING value in this very open 4 Bedroom/ 3.5 Bath, Ranch floor plan. The home features a stone & stucco exterior backing and backs to trees on a gorgeous lot! Spend evenings relaxing on a covered deck off of the eat-in Kitchen. The Master Suite even features its own private deck big enough to enjoy a hot tub! Spend time with the family in the finished lower level. It offers a walkout and a beautiful Family Room with an additional fireplace. All finishes are to the highest standards: cherry cabinets, yellow birch flooring, irrigation and central vacuum. Breathtaking views of the beautiful area behind home with full, mature trees. All can be seen through an elegant expanse of windows offering southern exposure in the Kitchen and Great Room. Master Suite is a must see! This is a first class home in every respect, built by a 14 year award winning builder. 

Don’t let this one slip by call Beth (515.537.9922) or Pat (515.577.6040)

for an Appointment to see this home today!

8150 NE 27th Ave, Altoona

$525,000

Remarkable Five Bedroom Ranch with over 4145 sq ft of living space located on 3.788 acres on a hard surface road. 

Spacious great room with 10′ ceiling fireplace and wide oak trim, arched brick opening between great room and formal dining. Stunning entry with marble floor. Enormous all Oak kitchen with a center island, walk in pantry and all granite tops. There is a bar area plus large informal Dining area all with tile floors. The deck has access from dining area and Master Bedroom. Enjoy time with the family in the finished walkout Lower Level featuring a massive wet bar, huge Family Room, two additional bedrooms (one is 2nd Master), exercise room and sliders to large inviting patio.

Other amenities include 5 star energy home, 2 zone heating system, pre plumbed for garage heating, prewired for hot tub, extensive tile work both master baths, kitchen breakfast nook and formal dining, marble in other two baths, wide oak trim (case and base), Des Moines water, natural gas, and 9′ and 10′ ceilings.  

Why wait for the perfect home to come along, ITS RIGHT HERE!..

Call Beth (515.537.9922) or Pat (515.577.6040) for an Appointment to see this home today!

West Des Moines, Iowa, www.wdm-ia.com

RelocateAmerica, a website that provides relocating consumers and area residents with access to local community resources, has released its annual listing of “America’s Top 100 Places to live for 2009.” This year’s list included the City of West Des Moines.
“With the increasing concern on our nation’s economy and recovering housing market we approached this year’s list with a different lens than in previous years. We concentrated on the outlook for future growth & ability to rebound in the communities that we selected” said Steve Nickerson, president and CEO of RelocateAmerica. “We looked at the local government & the business leadership in each community as we considered this year’s winners. We selected communities with visionary leaders, improving or thriving economies including housing & realization of ‘green’ initiatives."
In order to be considered for the list a community must be nominated on the RelocateAmerica website. Relocate-America’s editorial team reviews nominations and selects the TOP100 cities based on interviews with local leaders, feedback from residents and economic, environmental, education, crime, employment and housing data for the past year.

The Iowa Finance Authority’s REOHome Program can help hard-working Iowans purchase the home of their dreams! The unique new program offers up to $10,000 in down payment/closing cost assistance to qualified Iowans who are purchasing a home that is Real Estate Owned. (Real Estate Owned properties are in the possession of a lender as a result of foreclosure of forfeiture.)

 
Eligible Home Buyers:
•Household income is restricted to 80% area median income per county.
•Must be purchasing an Iowa, foreclosed property for primary residence.
•Must qualify for IFA’s FirstHome Program.
•Must participate in pre-closing home buyer education.
•Eligible home buyers may also use IFA’s FirstHome Plus Program, which can offer an additional $2,500 for down payment assistance/closing costs.
Eligible Property:
•Home buyers must purchase foreclosed property or one that is in imminent foreclosure process.
•Limited to one unit, residential property on five acres or less,
•The property must be the home buyer’s primary residence.
Other Details:
•At closing, a lien is placed on the home equal to the amount of the REOHome assistance. The amount of the lien is reduced by 20 percent each year that the home remains the borrower’s primary residence. After the five years, the lien is eliminated entirely.

To learn more contact Pat (515.577.6040) or Beth (515.537.9922)

1. The pending marriage scenario:

If a single person qualifies for the FTHB credit at the time he/she buys a home with someone that is not a FTHB and then later that year they marry each other, is the credit still allowed?

Eligibility for the FTHB credit is determined on the date of purchase. If a FTHB buys a house and then later marries taxpayer B, not a FTHB , the credit is allowable at the maximum credit.

2. The Cosigner scenario:

Taxpayer A is a single first time home buyer – Taxpayer B cosigns for A and does not qualify for the credit – but both names are on the mortgage – can Tax payer A claim the credit?

Yes. Taxpayer B is not a FTHB and cannot claim any portion of the credit, but A may claim the entire amount if the home was purchased as Tax payer as primary residence.

Just a side note on this one: Remember the Credit doesn’t apply if the buyer purchases the house from an immediate relative.

3. The community property scenario

If a husband and wife wanted to sell the home the wife owned when they got married and the husband had  not owned a home within the last 3 years, could he qualify as a FTHB for the credit even though the wife wouldn’t?

No. The purchase date determines whether a person is eligible for the FTHB credit. Since the wife had ownership in a principal residence within the last three years, neither can take the credit. IRS tax code requires that the taxpayer and the taxpayers spouse not have an ownership interest in a principal residence in the last 3 years. The husband can’t take the credit even if filing a separate return.

4. When will the buyer get their money?

If the return and the 5405 were filed electronically – the IRS rule of thumb is 10 days from the filing

5. Will they get the entire 8K?

Remember the credit will be applied against any tax liability. So if the taxpayer owes taxes – the amount owed would be subtracted from the 8K credit leaving the taxpayer with the difference in a refund – or 8K less in liability.

6. Can a buyer qualify using any lender?

Qualification is not tied to the lender – so technically yes you may use any lender. However, the credit eligibility can be tied to certain products such as bond funded programs that would not allow the credit.

7. What are the terms to file an amended return?

To file an amended return you can electronically file form 1040X. Form 1040x must be filed within 3 years from the date of your original return or within 2 years from the date you paid the tax, whichever is later.

8. How about – would a buyer be considered a FTHB if they owned a primary residence outside the US within the last 3 years?

Yes – property outside the US isn’t used against the qualifications.

9. If two unmarried people buy a house together – how do they determine how the credit will be applied?

IRS Notice 2009 – 12 outlines allocation methods for those not married.

10. If I claim the credit – and stop using my house a principal residence before the 36 months is up – do I have to pay the credit back – is it prorated?

The entire amount of the credit would be required to be paid back and is due at the time you file the income tax for the year in which you ceased usage as a principle residence.

11. I buy a primary residence and qualify for the credit – but decide to rent out two bedrooms and report rental income on a schedule E – will I still qualify for the credit as a principal residence?

Yes – if you meet all other FTHB criteria.

103 Little Beaver Ct, Grimes $134,990

Overlooking pond with privacy! Exceptional 2 bedroom with 2.5 baths and full basement. Vaulted great room with fireplace, formal dining area, all oak kitchen with breakfast bar, open stairs to upper level, master bedroom with walk-in closet and 3/4 bath and second floor laundry. Full basement with egress window and two car garage. Easy access to Des Moines via Hwy 141.

Enjoy the luxury of having the stove, microwave, refrigerator, dishwasher, & washer & dryer All Included!

Association fees cover: Trash, Lawn Care, Insurance, Exterior Building Maintenance

Wide open 4BR/4.5BA Ranch home situated on a spacious lot allowing plenty of room the family to play.

The Hearth Room and Dining Room both feature all hardwood flooring and walls of floor to ceiling windows. Gorgeous kitchen with long breakfast bar & a substantial island for prepping for the next gathering.

Wonderful oversized bedrooms with windows that let in plenty of light! Outstanding master suite with large closets, beautiful trayed ceilings, and a bath to unwind & relax in!

 Finished lower level is perfect for entertaining the whole family! Two sliders allow easy access to the backyard. Plenty of room for a pool table and a wet bar to entertain at while still watching the big game!

Don’t go another day without taking a look at this home.. call Beth (515.537.9922) or Pat (515.577.6040) for an Appointment to see this home today!

WHY WAIT?..Call Beth (515.537.9922) or Pat (515.577.6040)

an Appointment to see this home today!

$140,000.00      MLX:344160       9270 Greenspire Dr Unit 27, West Des Moines

1st TIME OPEN! Many upgrades throughout this airy 2story 2BR floor plan! Gorgeous hardwood floors. Extra Large Master Suite! Quiet neighborhood!

 

$725,000.00       MLX:343247        4025 NW 172nd Ct, Clive

Gorgeous home by Accurate. 5BR/5.5BA Easy to entertain in the spacious walk-out lower level with wet bar. Lovely kitchen perfect for preparing family meals!

$509,900.00        MLX:343020        4390 169th St, Clive

4BR ranch with finished walk-out lower level. Gourmet kitchen with granite countertops, Lavish master suite, 4 season room. Great Quality! Great Builder!

 

 

$429,900.00        MLX:343014        4329 168th Ct, Clive

WOW! Lovely 4BR/3.5BA walk out ranch. Superior Quality! Pella Windows.Cherry Cabinets. Home backs to trees stunning lot! 1st class home

$169,900.00         MLX:343617       2516 45th St, Des Moines

Charming Brick Beaverdale 3BR 1.5 story. Patio doors to a private deck! Finished lower level with its own Kitchen! STOP BY & CHECK OUT today!

$469,000.00         MLX:344052        8030 Heather Bow, Johnston

Magnificent Oak Built-ins throughout this 4BR/3.5BA home with a finished walk-out lower level. Home has recent updates & Amazing square footage! Oversized deck.

$349,900.00          MLX:336971       4115 140th St, Urbandale

Astonishing walk-out Ranch 3BR/3BA. Builder Incentive! Open maple kitchen main fl laundry. Relax & enjoy nature on the Composite deck!

~Close to several local parks and walking trails

15403 Hammontree Drive, Urbandale

$125,250

       Home Features

• Spacious great room with gas fireplace
• All oak kitchen with breakfast bar area
• Formal dining area
• Second floor laundry including washer & dryer
• Escape to the second level with its two bedrooms and two baths
• In the master bedroom you will find a large walk-in closet and 3/4 bath
• The basement is ready to be finished and is complete with an egress window
• Why rent when you could own! First time home buyers may qualify for up to $8,000 tax credit!

WHY WAIT?..Call Beth (515.537.9922) or Pat (515.577.6040) for an Appointment to see this home today!

Many people – especially singles and young couples who are just starting their careers – have mixed feelings about purchasing a house. They worry about getting tied down and taking on a lot of debt.

Here are 10 compelling reasons why anybody who can afford it should consider buying a home:

1) House prices tend to rise over time, so a house is one of the best investments you can make. Home prices in the U.S. have risen three percent to six percent a year for the past 20 years. That trend is likely to continue. So if you buy a home now, you’ve put your capital in a safe investment where it is likely to grow.

2) You’ll pay less tax. You can deduct the interest you pay on your mortgage from your taxable income. The value of this tax break depends on factors like your personal tax bracket, the size of your mortgage, the rate of interest you pay on it and how long you’ve held the mortgage. As a rule, the newer the mortgage, the greater the amount of interest you pay each month and the bigger the tax break. Therefore, recent buyers with young mortgages tend to get the greatest benefit.

3) You’ll be buying a piece of real property rather than putting money in a landlord’s pocket each month. The real cost of renting is higher than the monthly payment. There is also an opportunity cost equal to the amount you would gain by using the money to purchase a home instead. Even if the house you purchased did not appreciate in price, you would be able to sell it and recoup some of the money you put into it.

4) Interest rates are still historically low. This makes it relatively inexpensive to take out a mortgage. The lower the interest rate, the less you actually pay for your house and the sooner you can pay the mortgage off. Our loan calculator can show you how different interest rates affect the total cost of your mortgage and the time it takes to retire it.

5) You’ll be able to use the equity in your home for low-cost loans for other purposes. You can access the paid-up equity you accumulate in your home in the form of a home equity loan or a home equity line of credit. Because they are secured, home equity loans and lines of credit generally carry a lower interest rate than other types of consumer loans, such as auto loans. The interest on them is generally tax-deductible, as well.

6) You’ll have the stability and emotional security of owning your own home. No more worrying about dictatorial or negligent landlords, rent increases or the possibility your building will be sold and redeveloped or turned into a condo. You’ll be able to live in your house as long as you like, fix your monthly payments for as long as 30 years and you’ll be in charge.

7) You’ll be able to redecorate and renovate any way you like, any time you like. Rules about the paint colors you can use will be a thing of the past. And you’ll be able to tear out walls, install a powder room and make any other improvements you want. Best of all, if you decide to sell, you’ll recoup at least part of the cost of the improvements.

8) You can have a garden. This is one of the big pluses of ownership – a little piece of land you can call your own, where you can grow tomatoes or roses, barbeque, and play with your kids and pets.

9) You’ll be able to put down roots in a community. When you’re a homeowner, you’ll get to know your neighbors, participate in street sales, meet potential baby-sitters and play Saturday-morning touch football in the park. Renters tend to live more insular lives.

10) You’ll have a greater voice in community affairs. Local homeowners generally have more clout – individually and through ratepayer’s associations – when it comes to development proposals, school issues, changes to traffic control and routing and the like. Because renters tend to be more transient than homeowners, they have less influence on policymakers.

This story was submitted by one of our readers and may have originally appeared elsewhere
Get this and other real estate news from www.MyDesMoinesrealty.com

3119 Sunnybrook Ct, Ankeny

$250,000 

Home Features

• 3 bedroom/ 3 bath over 2200 sq ft. of finished living area
• Granite countertops
• Pella Windows & French Doors
• Hardwood floors
• Solid Oak 6 panel doors
• Tile floor in kitchen and both baths
• Main floor Laundry
• 3 car attached garage plus a 4th car tuck under at the rear of the home makes a great workshop 
• Large deck and a paver brick patio for your summer entertaining in the beautifully landscaped, irrigated yard 

The lower level has it all!

• A Family Room with
  • Heated slate floors, Canton surround sound, Fireplace
• Tons of storage

Call Beth (515.537.9922) or Pat (515.577.6040) for an Appointment to see this home today!

Astonishing 5 bedroom Award Winning Home

in a pristine Johnston neighborhood.

Priced at $610,000

Entertaining made easy with an inviting Great Room  boasting a gorgeous floor to ceiling stone fireplace.

Don’t miss an opportunity to explore all this kitchen has to offer! It has it all with roll out cabinet drawers, beautiful hardwood flooring, a huge pantry, & a granite breakfast bar.

The home is spacious and inviting throughout with high ceilings, wide stairways, huge closets, and walls of windows allowing natural light and warmth into the home.

Bring the family home for the Holidays with a lower level filled for entertaining! Enjoy spending time in the game area or around the wet bar. After lasting memories are made guests can retire to their own suite. Feel free to indulge, there’s even a fitness room!

Call Beth (515.537.9922) or Pat (515.577.6040) for an Appointment to see this home today!

The beer at Gritty McDuff’s might be enough to lure people to Portland, Me. Established in 1988, the downtown pub offers a smattering of small-batch ales brewed on the premises in addition to usual tavern treats. From the patio, customers can enjoy a pint along cobblestone streets or retire to the copper-topped bar for a second round.

Tasty microbrews aren’t the only reason to like Portland. Thanks to high marks in five key quality of life metrics, Portland tops this year’s list of America’s Most Livable Cities.

"It’s a very easy place to live," says Leon Perrin, 31, a manager at Gritty’s. "It’s small, so getting around isn’t too much of a hassle. And it’s a beautiful place throughout all four seasons."

In Pictures: America’s Most Livable Cities

Perrin, who has lived in Maine for 20 years, is one of 513,000 residents living the good life in the Portland metropolitan area. The region earned high marks for income growth and culture; it also has low levels of crime and unemployment. Residents can afford the relatively high cost of living because of a 6.3% income growth rate over the past five years.

Bethesda, Md., and Des Moines, Iowa., round out the top three, followed by Bridgeport/Stamford, Conn., and Tulsa, Okla.

Behind the Numbers
To form our list, we looked at quality of life measures in the nation’s largest continental U.S. metropolitan statistical areas–geographic entities defined by the U.S. Office of Management and Budget for use by federal agencies in collecting, tabulating and publishing federal statistics. We eliminated areas with populations smaller than 500,000 and assigned points to the remaining metro regions across five data sets: Five-year income growth per household and cost of living from Moody’s Economy.com, crime data and leisure index from Sperling’s Best Places, and annual unemployment statistics from the Bureau of Labor Statistics.

Modesto, Calif., ranks as the worst metro area with more than 500,000 residents. This crime-wracked enclave in the Central Valley demands the same moderately high cost of living as Portland with a third of the job growth and nearly three times the unemployment. Modesto ranked fifth on our roundup of the nation’s most miserable cities earlier this year.

Denver, Colo., No. 11 on the list, ranks in part for its culture rank (19 of 379) and 4.4% income growth (77 of 379). The crime rating of Cambridge, Mass.‘ crime rating (29 of 379) helped it to No. 7 on our list. And though Little Rock, Ark., landed at 15, it boasts a 6% income growth rate (18 of 379) and a 5.4% unemployment rate (59 of 379.)

To be sure, Portland isn’t perfect either. Its 5.9% unemployment rate is much lower than Modesto’s, but it’s still double its 2007 unemployment rate of 3.7%.

"There are less jobs to go around, but our main industry of tourism hasn’t been affected much," says Perrin. "People are still coming to Portland."

Residents remain optimistic that their easy-living city will retain its desirability.

"Portland draws so many people because it has a strong arts, cultural, contemporary music and foodie scene," says Janis Beitzer, executive director of Portland’s Downtown District. "It’s a place where people set their own pace of life and work."

9800 Ashton Dr.

Open entry 2 Story with 4 bedrooms, 2.5 baths & 3/4 stub in basement. Outstanding Great Room with a beautiful fireplace and built-ins. The home boasts an executive trim package which includes oak woodwork, solid oak 6 panel doors on main level, wainscoting & crown molding in formal Dining Room. 9′ ceilings on main level.  Master Bedroom with trayed ceiling, crown molding, walk-in closet, double sink, 48′ shower and bubble tub. Beautiful Den with a full wall of built-ins. Vinyl siding with stone accents and enjoy summer days sipping lemonade on the deck off  of the Dinette.

Oak Kitchen with granite island, appliance package, brushed nickel hardware. Ceramic tile flooring in Kitchen, all bath areas & 1st floor laundry/mud room.

Call Beth (515.537.9922) or Pat (515.577.6040) for an Appointment to see this home today!

OUTSTANDING LOCATION!

Spacious home is ready to be moved into with fresh interior paint.

•  
  • 4 bedroom/ 3.5 bath
  • Gorgeous Oak trim and hardwood floors
  • Built-Ins throughout this home are endless and allow for a perfect amount of storage!

*Entertaining Made Easy!

The kitchen is designed around entertaining with its granite counter tops and center island. A seemless transition to the deeply wooded backyard is made by sliders to an oversized deck. Perfect for summer BBQ’s!

A spacious Great Room is a perfect gathering space with floor to ceiling windows a warm and inviting fireplace and an additional wet bar.

Don’t limit the entertaining to just the main level. The finished walkout lower level boasts a beautiful brick fireplace and direct access to backyard fun!

*The Master Suite..

With closets big enough for any wardrobe this is a dream come true for him and her!

Relax and gaze out the window of the tranquil master bath.

And finally have a good nights rest tucked back in the cozy master bedroom.

Twists in state laws and consumer-hostile warranties make it doubly hard for owners to fix construction defects. Here’s how to protect yourself when your new home is not up to snuff.

By Marilyn Lewis of MSN Real Estate

Few thrills compare to the joy of moving into a brand-new home. Few nightmares match tales of misery told by homeowners who have tried and failed to get builders to repair problems in a new home. And as concerns about hidden defects grow, homeowners are finding it increasingly difficult to get builders and insurance companies to stand behind their products.

Traditionally, a good builder gives customers a year — and many states require it — to report and let them fix any problems with new homes. Many builders do this willingly. But an increase in construction-defect lawsuits has resulted in rate hikes in builders’ insurance. Now, consumer advocates say builders are under pressure from insurers not to respond to homebuyers’ reports of problems unless a lawsuit is filed.

A builder who acknowledges liability under "right-to-cure" laws risks losing insurance coverage, says William F. Cloran, a Portland, Ore., attorney who has represented both builders and consumers in defect arbitrations and lawsuits. Thirty-one states have these laws, which prevent owners from filing lawsuits before following a prescribed complaint procedure. In theory, right-to-cure laws encourage both sides to settle disputes out of court and give a builder the chance to fix problems before getting sued.

In fact, the laws just complicate things and put a bigger burden on consumers and builders to meet precise deadlines and amass lots of documentation, says Carol Smith, author of "Building Your Home: An Insider’s Guide."

Cloran says insurers hide behind these laws and "take the position that they don’t have a claim and they’re not going to part with money until a suit is filed."

Double whammy
Step two in the double whammy for consumers is the growth of new-home warranties with provisions that make it much harder for consumers to sue. Warranties typically require homebuyers — who often neglect reading the fine print on their contracts when they buy — to settle complaints through private arbitration and waive the right to trial.

Advocates of arbitration say it’s fair, quick and less expensive. But with many of the private arbitrators depending on builders and insurers for repeat business, it’s hard for a homebuyer to get a fair shake, according to Consumers Union, publisher of Consumer Reports, and other consumer advocates.

Some warranties even specify that the insurance company representing the builder can choose the arbitrator, says Nancy Seats, national president of Homeowners Against Deficient Dwellings, a volunteer group of homeowners with construction-defect complaints. There’s no public record to document the arbitration process, so complaints or judgments against a builder are not visible to prospective customers trying to research the builder’s track record.

When claims do go to court, settlements are typically confidential, further limiting public access to the track records of problem builders. In Seats’ experience, even when a consumer wins an arbitration judgment, the award is unlikely to cover all the costs involved — and in some cases the loser has to pay all costs for both parties, she says.

Arbitration costs vary greatly. An arbitrator who is an attorney or engineer charges $2,000 to $3,000 a day (usually split by both parties). Add your own attorney’s fees and expert-witness fees and your case can easily run $5,000 to $10,000, Cloran says. Consumers who sign a warranty waiving the right to a trial cannot, in most cases, challenge an arbitrator’s decision.

The ‘warranty bouquet’
New homes come with a “bouquet of warranties” of various durations and from many sources, Smith says in "Building Your Home: An Insider’s Guide." You can avoid problems by studying all warranties carefully before signing a contract to build. (State laws may add certain provisions.)

In addition to warranties on appliances and products used in your home, there are three kinds of warranties on the house itself. The one with the strongest consumer protection provisions will typically prevail in court, Smith says:

Implied warranties, based on state laws and case law, aren’t written out but may be invoked in a court dispute. These assure a homeowner the right to a home fit for habitation. Builders also must meet local and state building codes, manufacturer installation instructions and their own specifications for materials to be used.

Builder limited warranties. About 90% of builders give buyers a written commitment to stand behind the materials and workmanship in new construction, usually for a year. A "builder-backed" warranty usually means that the builder pays for any repairs or that the builder is self-insured, Smith says. She estimates that 8% to 10% of new homes have problems serious enough to be called "defects"; in 2004, Consumer Reports put that at 15%. The limited warranty includes three types of coverage:

• Materials and workmanship coverage, the most frequently used part of a warranty, usually lasts a year. It guarantees that a builder and subcontractors installed materials correctly and that the materials will hold up to normal use. An incorrectly installed window, for example, or a leaky faucet, is covered. A broken window or faucet that’s your fault, though, is not covered. Most complaints are over relatively minor fixes — a garage door that makes a funny noise, a cabinet door that won’t close correctly.
• Systems coverage usually lasts a year and includes the parts of the heating, plumbing, air-  conditioning and electrical wiring behind the walls — the pipes but not the toilet, for example.
• Structural coverage may last from one to 10 years and protects against problems in the load-bearing portions of the home — the walls, the floors, the roof trusses and foundation but not, for example, the shingles. Only about 2% of new homes ever suffer structural damage, Smith says.

Insured warranty policies often are purchased by a builder from an insurance company, giving the builder additional protection from claims. These may also extend the length of your warranty. Policies give the homeowner recourse if the builder can’t or won’t fix a problem. The cost is included in the price of your home.

The responsibility is yours
Each warranty spells out the procedures and deadlines for making a claim. You need to follow these to the letter. It’s your responsibility to read and follow all the instructions you’re given on maintaining the home. Just like with a new car warranty, your failure to do the proper maintenance — cleaning gutters, for example, or changing furnace filters — could void your new home warranty.

A warranty also defines standards under which the home is insured, and these may be different from your personal standards. For example, Smith says, if your driveway develops a fine crack and the warranty says, "We cover cracking in cement that’s one-quarter inch or more," that’s the standard. You may want a new driveway, but the warranty doesn’t provide for it.

A builder may, on occasion, go above and beyond the warranty standard, but you can’t count on it. Also, disputes can develop over gray areas, because not every eventuality can be spelled out ahead of time. That’s why, Smith says, it’s so important to carefully research your builder, choosing someone with integrity, a strong reputation and a track record of customer satisfaction.

This story was submitted by one of our readers and originally appeared HERE

Get this and other real estate news from www.LotInvestor.com