Holiday Season

We missed wishing you a Happy Thanksgiving. We certainly hope that it was everything for which you could have hoped. It seems as though this time of year really speeds up and does not leave us much time to stop and look around. Within the next couple of weeks we'll update you on some plans we have as well as different ways to prepare for the holidays. We hope this holiday season is treating you well!

Happy Halloween

Wishing you a safe and happy Halloween!

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Reward Walls ICF

We are currently working on an ICF home outside of Lewisburg and we wanted to share a picture of it with you. If you remember from an earlier blog ICF walls are insulated concrete forms used to build a home rather then the standard lumber we usually use. The home will be very energy efficient and the only one of it's kind in the development.

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How should you plan

It has been awhile since we posted anything on our blog. We have been working hard though and looking for topics we felt would be beneficial. With the economy in its current state we debated a number of topics; we decided to address retirement. While reading Money Magazine we came across a quiz, divided into age groups, that helps address retirement needs and judge were you might be as far as retirement is concerned. Remember to check back with our blog, as we will be covering fire protection sprinklers in single-family homes very soon.

Age 35 to 44

1. How often do you carry a credit card balance month to month?
1. Once or twice a year, around the holidays
2. Most months
3. Always
4. Never
2. How do you feel about your job?
1. I’m happy with my job and salary
2. Oy – I’m overworked and underpaid
3. I don’t love my job, but it pays well
4. Expect for the money part, it’s great
5. Ouch. When I find a job I’ll let you know
3. How do you manage your cash flow?
1. I pay my bills on time and usually balance my checking account
2. I have a budget and track my spending
3. Money comes in; money goes out
4. Have you thought much about retirement?
1. Are you kidding? I can barely think beyond next months car payment
2. Enough to know I’d like to retire at 65
3. Yes, I’m saving so maybe I can even retire early
5. What percentage of your pay are you saving in tax-advantages accounts such as 401(k)s and IRAs?
1. Zero
2. 1% to 5%
3. 6% to 10%
4. More then 10%
6. How did you pick your investment in those accounts?
1. I’m pretty sure someone did it for me
2. I researched stock and bond funds and picked the mix that’s right for me
3. I chose a target-date fund based on my age
4. I follow Uncle Bernie’s advice: He made a killing in gold stocks last year
5. What accounts
7. How much money have you saved for retirement so far?
1. Less then half my annual pretax income
2. Between half and twice my income
3. More than twice my income
4. Um… I’d have to check

Your Score: Add up the numbers next to your answers

1. A(3) B(0) C(0) D(7)
2. A(3) B(0) C(2) D(2) E(0)
3. A(4) B(6) C(0)
4. A(0) B(1) C(3)
5. A(0) B(3) C(5) D(7)
6. A(0) B(5) C(3) D (0) E (0)
7. A(0) B(3) C(5) D(0)

What your score means?

0 to 12: It’s time to get serious. For help to go cnnmoney.com/retirement

13 to 24: You’re on your way, but need to kick up your planning a notch

25 to 36: You’re doing great. But don’t forget to enjoy today too.

The Logic:

1. Consumer debt poses the biggest threat to building wealth. A 35 year old must put $300 toward debt each moth rather then investing it.
2. Research shows one of the best things you can do for your retirement is find a job you love; you’ll want to do it longer. If it pays well too, it’s gravy
3. Experts say that how well you manage your cash flow is a key predictor in your ability to save
4. The earlier you start saving the better.
5. Stashing the max at this age gives you the biggest boost from tax deferred compounding
6. Learning the fundamentals of investing is crucial to maximizing your pot.
7. Goal: Twice your annual salary put away by age 44

Age 45 to 54

1. What percentage of pretax income goes towards you mortgage or rent?
1. Less then 15%
2. 15% to 30%
3. More then 30%
2. How are you paying for you kid’s college?
1. With money I’ve already saved, plus cash flow
2. With what I’ve saved in 529 accounts, if it costs more the kid will cover it
3. I’ll take out loans
4. My kids are going to win soccer scholarships
5. What kids?
3. Do you have a retirement plan?
1. What do you mean, plan?
2. No, but I used an online calculator a while ago and I seemed to be on track
3. Yes and I recheck my numbers every year or so
4. Does you employer offer an old-fashioned pension plan? (the kind where it contributes all the money)
1. Yes, plus a 401(k)
2. No, but it does offer a 401(k) and it matches the money I put in
3. No, but it does offer a 401(k) no match
4. I have neither a pension nor a 401(k)
5. What percentage of your income are you saving in retirement accounts each year?
1. Zero
2. 1% to 7%
3. 8% to 15%
4. More then 15%
6. How much money do you have set aside for retirement?
1. Less then my annual pretax income
2. Between one and three times my income
3. Between three and four times my income
4. More then four times my income
7. What’s your main goal for retirement?
1. To have more quality time for friends, family and activities
2. To embark on my next project maybe for pay, maybe not
3. To never darken the door of a workplace again

Your Score: Add up the numbers next to your answers

1. A(5) B(3) C(0)
2. A(3) B(5) C(0) D(0) E(5)
3. A(0) B(1) C(3)
4. A(6) B(4) C(3) D(0)
5. A(0) B(3) C(5) D(7)
6. A(0) B(3) C(5) D(7)
7. A(2) B(3) C(0)

What Your Score Means:

0 to 12: You’re in danger of derailment. Consider a sit down with a financial planner

13 to 34: You’re on track, but could use a boost. Save at least 15% of your earnings

25 to 36: Nice job. Keep doing what you’re doing!

The Logic:

1. Your biggest wealth hazard now: overspending on housing. Aim to put no more then 30% of pre-tax income toward any debt – mortgage included
2. Don’t delude yourself: Tuition, room and board at a private four-year college costs an average 23,930 a years, even after grants and tax bennies
3. A recent study shows that people who calculate how much they’ll need tend to save more
4. In 2006 the average pensioner over 59 collected 18,195 a year
5. Earnings peak now. So should savings
6. Goal by 54: More then four times your income saved
7. Your retirement will be more satisfying if you see it as a beginning not an end

Age 55 to 64:

1. When will you retire?
1. By 65, no problem
2. I’ll probably have to keep working at least part time after 65
3. When they wrench the office keys out of my cold, dad hands! (I need the money)
4. I’m in no hurry because I love what I do
2. Will you still carry a mortgage?
1. Yes
2. Not for very long
3. My mortgage will be paid off before I retire
4. I’m debt-free now
3. Where will you live?
1. In my current home. Too bad things are kind of expensive around here.
2. In my current home. The cost of living is low.
3. I’ll more to a smaller home in a cheaper area.
4. I’ll split time between my primary residence and my vacation home
4. How much money do you have set aside?
1. Less then four times my annual pre-tax income
2. Between four and six times my annual pre-tax income
3. Between six and eight times my income
4. More then eight times my income
5. How much annual income will you need?
1. Probably 76% to 85% my current income
2. I’ve worked out how much I can spend each year – It’s doable
3. I’m living off my project retirement income and saving the difference
4. There are too many variables to know yet
6. How will you handle health care coverage?
1. I’ll figure it out closet when I quit work
2. My company has a subsidized retiree health plan
3. I’ve researched Medigap policies to supplement Medicare
7. What’s your plan for long-term care?
1. Eat well, exercise and stay healthy
2. I bought a long term care policy
3. I’ve saved enough to cover a nursing home if I need one
4. I’ll move in with my kids if it comes to that

Your Score: Add up the numbers next to your answers

1. A(2) B(1) C(0) D(3)
2. A(0) B(4) C(5) D(6)
3. A(0) B(4) C(5) D(3)
4. A(0) B(3) C(5) D(7)
5. A(2) B(4) C(6) D(0)
6. A(0) B(6) C(4)
7. A(0) B(2) C(3) D(0)

What Your Score Means:

0 to 12: You will probably have to delay retirement and/or move to a cheaper place

13 to 24: You’re in decent shape but should ramp up savings and finalize plans

25 to 36: Look forward to a great retirement – you’re earned it!

The Logic:

1. If you can retire at 65 great, but if you delay and work on your accounts you’ll be more secure
2. Retirees who have paid off their homes can live on 10% to 15% less then those who haven’t
3. Downsizing to a lower cost area could make your nest egg last twice as long
4. You’ll need at least eight times your annual income set aside to afford your current lifestyle
5. Writing a realistic budget now will ensure you don’t outlive your stash
6. Projections show that a 65 year old couple will need $240,000 for future health costs (with Medicare)
7. An LTC policy isn’t a must if you’re prepared for the cost of assisted living

Festival in Danville

Danville's 2009 Iron Heritage Festival runs from July 22 to July 26. There will be events every day of the festival, which most days have multiple events. The Festival kicks off tonight at 6 PM at the Grove Mansion with A Picnic in the Grove. Tickets for the kick off event are available at the Iron Heritage Festival Company Store. Other events of the Festival include, but are not limited to, Wagon Rides, Parade, Fly-In, Cemetery Tours, USO Show and Dance, Fireworks and Train Rides. For more information on what else the festival has to offer visit http://www.ironheritagefestival.net or call 570-275-6700.

An exciting time

Spring is here and it is an exciting time for all. We here at Carriage Manor have been keeping ourselves very busy, but it is a good busy as we’re sure you could understand. We now have an account with twitter, so if you’re interested in seeing what is going on feel free to follow us at http://www.twitter.com/cmbcgp.

With current tax rebates for remodeling it seems that for people that were torn between building or staying in a home they love, but that didn’t suit them anymore the choice has been made easier. We want to remind you that we take the same dedication and quality that we put into every new home in every remodel and addition we complete. We also understand that you may not have time to figure out exactly what you need or what tax rebates apply to you and that’s why we’re here.

The true reason for all the remodeling talk is the Remodeling magazine we got the other day. It has some truly great ideas that we’d love to share with you. It really shows how you can take a home you love and turn it into the home of your dreams. Perhaps you love the location your home is in or just have so many great memories that you don’t want to leave.

The magazine features several remodels and additions that can highlight certain aspects of your home or land. For instance, let the addition create an outdoor living area, add a focal point to the home with contrasting materials, don’t let the garage dominate the house and replace one window with two (we could tell you more about this.)

Come in and sit down with us, we’ll figure out something that is perfect for you!

We are more then new construction

May is remodeling month so we believed it was the perfect time to remind everyone about our remodeling business. We’ve been in business for 18 years and we’ve seen a lot. For a majority of those years we served strictly as a custom homebuilder, but then we realized something. Older homes have great potential, and why not offer the same skill level and attention to detail to older homes as well as new construction so we started remodeling. We’ve done everything from an entire home to a kitchen. There is a different kind of satisfaction that comes from a remodel project then comes from new construction. You get to bring out the homes full potential, you help people realize they can have their ideal home with just a little bit of work. We are members of NAHBR, a group of professional remodelers and a council of the National Association of Home Builders.

So, why remodel? We have five reasons:
1. Low interest rates – with interest rates at near record lows, home equity loans are very affordable

2. Energy efficiency – enjoy immediate savings on energy and water bills, plus some upgrades qualify for tax credits

3. Increased performance – a better performing home saves on costly repairs in the future

4. Improved lifestyle – don’t wait until you sell your home to make it your dream home

5. Room to breathe – are you feeling closed in? Everyone enjoys larger and more functional space!

Homeowner Tips for Spring

While we all enjoy the warmer weather that comes with the Spring season we also know that it is a great time to check over our homes and see what, if any repairs need to be made. We’d like to share a homeowner maintenance checklist with you that was compiled by the National Association of Homebuilders (NAHB). So, what should you be doing this Spring?

1. Check the condition of caulking and exterior paint – Replace or paint as needed
2. Exchange glass and screens in storm windows and doors
3. Inspect roof for snow damage, repair if necessary
4. Check interior paint
5. Seed and feed the lawn
6. Plant annuals
7. Do appropriate pruning of perennials

We also have a list of annual maintenance items for you to consider when doing your Spring maintenance.
1. Oil motors of appliances as directed in instruction manuals
2. Check cords and plugs of all electronic appliances for wear
3. Test your smoke detector, carbon monoxide detector and radon detector – be sure to clean the unit and replace batteries and light bulbs when necessary
4. Inspect windows and doors for proper operation and tight fit
5. Clean all window tracks, clean and adjust door thresholds and check weather stripping
6. Check attic insulation – be sure entire ceiling area is covered. Check eaves to make sure insulation has not blocked vents

Something more we can offer

We're please to announce that one of our employees recently earned a professional designation from the National Association of Home Builders. We now have a Certified Green Professional (CGP) on our staff to assist with your home building process. To earn this designation our employee had to attend classes and take exams, that will allow us to better serve you. If you have any questions or would like to hear more contact us at 570-275-4444 OR check out the NAHB's website at www.nahbgreen.org

Why We're Proud to Call Ourselves Carriage Manor Builders

We've explained before how thankful we are for the group of guys we use as our subcontractors, but we're also glad they have been able to form great relationships with our client. During one of our recent builds, the daughter of the couple drew pictures of our plumber, trim carpenter and painter and we wanted to share them with you. We're flattered that she took the time to draw 'our guys' and we're glad to have the family become part of our Carriage Manor family.

NAHB's Guide to Chosing a Home Builder

The NAHB (National Association of Home Builders) published an article titled “How to Chose a Builder” and we thought it would be a great topic to blog about. The article covers a couple of key points with suggestions that will hopefully lead you to chose a builder that is the correct fit for you.

The article reminds consumers that it is important to shop for your builder just as carefully as you plan to shop for the home you plan to build. It gives three steps and then explains each of them: make a list, do your homework and shop for quality and value.

Make a List: this is important because it gives you a starting place. If you’re unfamiliar with builders in your area or if you’re moving to a new area a great way to obtain information on builders is through the local builder’s association. CSBA (Central Susquehanna Builders Association) is the local chapter for us. If you’re interested in checking them out their website is www.csbapa.org. Another way to become familiar with builders is to look at the real estate section of local newspapers. Sometimes you will find articles about builders and/or advertisements that will lead you to see which builders are active and what types of homes they build. The article states that by doing this you may find which builders built in your price point, however, custom builders don’t typically state prices in their advertisements. Make sure you use your resources, contact real estate agents, friends and family. They may have dealt with some local builders or know of someone who has. This will let you know if they have had a good experience.

Do Your Homework: since you’ve compiled a list it is important to try to find out the reputations and quality of the builders on your list. One of the best ways to learn about how a builder builds is to visit existing homes. Builders may be able to provide you with a list of addresses of homes that they built which allows a person the drive the home and see the finished product. Also, if homeowners are outside it may provide you with a chance to introduce yourself and ask them questions about their home and their builder. Remember to talk to several people to get a more honest opinion about a builder. Don’t forget a notebook and pen – take notes when talking to builders and homeowners. This will allow you to write down opinions and look over them later when you’re comparing builders. Make sure you ask homeowners if they had any problems and if so did they report them and were they handled in a professional and timely manner.

Shop for Quality and Value: Go to open houses and model homes. Make sure you look closely at each home. Look at the trim; touch the woodwork and doors. Examine the little details. Often people get swept away by the beauty when the first walk into a new home, however, upon closer examination however you may seem gaps in trim work, unfinished paint jobs, damaged or crooked switch plates, etc. Look at the cabinetry, carpeting, trim work and paint – make sure it’s of a quality you would expect in your home, not just something you could live with.

Most importantly ask questions, we understand that most people haven’t spent their lives in this industry and we’ll do what we can to make it a fun and educational experience. We’d love to build your home, so talk to us.

Home Buyer's Dictionary

While visiting the National Association of Home Builders (NAHB) website today we came across a home buyer's dictionary that we thought might be beneficial. We've included some of the terms in a list below. To view the list in its entirety or to locate other articles visit www.nahb.org

Appraisal - An evaluation to determine what a piece of property would sell for in the marketplace.
Appreciation- The increase in the value of a property
Buydown - A subsidy (usually paid by a builder or developer) to reduce the monthly payments on a mortgage loan.
Cap - A limit to the amount an interest rate or a monthly payment can increase for an adjustable rate loan either during an adjustment period or over the life of the loan.
Certificate of Occupancy (CO) - A document from an official agency stating that the property meets the requirements of local codes, ordinances, and regulations.
Closing - A meeting to sign documents which transfer property from a seller to a buyer. (Also called settlement)
Closing Costs - Charges paid at settlement for obtaining a mortgage loan and transferring real estate title.
Conditions, Covenants, and Restrictions (CC and Rs) - The standards that define how a property may be used and the protections the developer has made for the benefit of all owners in a subdivision.
Credit Rating - A report ordered by a lender from a credit bureau to determine if the borrower is a good credit risk.
Density - The number of homes built on a particular acre of land. Allowable densities are usually determined by local jurisdictions.
Downpayment - The difference between the sales price and the mortgage amount on a home. The downpayment is usually paid at closing.
Earnest Money - A sum paid to the seller to show that a potential purchaser is serious about buying.
Equity - The difference between the value of a home and what is owed on it.
Escrow - The handling of funds or documents by a third party on behalf of the buyer and/or seller
Fixed Rate Mortgage - A mortgage whose interest rate remains constant over the life of the loan. The payments are not necessarily level.
Interest - The cost paid to a lender for the use of borrowed money
Mortgage Broker - A broker who represents numerous lenders and helps consumers find affordable mortgages; the broker charges a fee only if the consumer fins a loan.
Mortgage Commitment - A formal written communication by a lender, agreeing to make a mortgage loan on a specific property, specifying the loan amount, length of time and conditions.
Mortgage Company (Mortgage Banker) - A company that borrows money from a bank, lends it to consumers who want to buy homes, then sells the loans to investors.
Mortgagee - The lender who makes a mortgage loan.
Mortgage Loan - A contract in which the borrower’s property is pledged a s collateral and which can be repaid in installments over a long period. The mortgagor (buyer) promises to repay principal and interest, to keep the home insured, to pay all taxes, and to keep the property in good condition.
Mortgage Origination Fee - A charge by a lender for the work involved in preparing and servicing a mortgage application (usually 1 percent of the loan amount).
PITI - Principal, interest, taxes, and insurance (the 4 major components of monthly housing payments).
Point - A charge of 1 percent of the mortgage amount. Points are a one-time charge assessed by the lender at closing to increase the interest yield on a mortgage loan.
Principal - The amount borrowed in a loan, excluding interest and other charges
R-Value - The resistance of insulation material (including windows) to heat passing through it. The higher the number, the greater the insulating value.
Sales Contract - A contract between a buyer and seller which should explain, in detail, exactly what the purchase includes, what guarantees there are, when the buyer can move in, what the closing costs are, and what recourse the parties have if the contract is not fulfilled or if the buyer cannot get a mortgage commitment at the agreed-upon terms.
Title - Evidence (usually in the form of a certificate or deed) of a person’s legal right to ownership of a property.
Transfer Taxes - Taxes levied on the transfer of property or on real estate loans by state and/or local jurisdictions
Walk-Through - A final inspection of a home before settlement to search for problems that need to be corrected before ownership changes hands.
Warranty - A promise, either written or implied, that the material and workmanship of a product is defect-free or will meet a specified level of performance over a specified period of time. Written warranties on new homes are either backed by insurance companies or by the builders themselves.
Zoning - Regulations established by local governments regarding the location, height, and use for any given piece of property within a specific area.

A Special Thank You

We just wanted to take the time to thank all our vendors and everyone that attended our green expo this weekend. We believe it was a huge success! If you're interested in learning about other aspects of the building and/or remodeling industry let us know and we'll see what we can do!

An update on the green expo

We have more details for you regarding our upcoming "Green Expo." The expo will be held BOTH Saturday, January 17 and Sunday, January 18 from 12 p.m. to 3 p.m. We'll have several vendors available to discuss different products with you such as, CVC Mechanical, Cole's Hardware, Friedman Electric, Hajoca and Knoebel Lumber. The vendors also have some great prizes, like a Kohler 'Energy Efficient' Toilet, Owens Corning Afghan Style Blankets, Free Home Energy Consultation, Knoebels Amusement Resort Tickets and 2 gallons of Benjamin Moore's new Aura paint. Join us for a day of fun and learning. Directions to the events are as follows: Take Route 54 South over the Danville/Riverside Bridge. Go over railroad tracks straight through and around the corner towards the Danville Airport. Turn left on Avenue G. Go past the cemetery and turn left into the new subdivison. RiverHill Lot #10 is at the top of the hill on the left.

Spend a day learning, with us

We're hosting a Green Expo at our showcase home in the RiverHill Development, Riverside on Saturday, January 17 from 12 p.m. to 3 p.m. Several of our vendors will be on hand to discuss different products they offer to make a home more environmentally friendly. They will also be giving away some of their great products. We'll make sure to update this blog as the event gets closer. If you're looking for more information, call our office: 570-275-4444.

We hope you've enjoyed the holiday season

We spent the weekend taking down our holiday decoration and getting ready to welcome everyone in the new year. We're looking forward to spending this new year with you and will continue to update you. We'll be updating the blog layout and some posts, so please feel free to check back in a couple of days. Thanks for your continued support throught the years.