You may be familiar with the $8000 tax credit currently being offered to first-time homebuyers, and the $6500 tax credit being offered to homebuyers who have already owned a home, but still meet certain criteria. What you may not be as familiar with are HUD203K loans for first-time buyers.

HUD203K insurance (as it is referred to in the official documentation) is actually another financing method. Those who are looking to buy a home can not only purchase a home, they can also combine the purchase price and the cost of rehabilitating the home they wish to purchase in one mortgage.

This means that if you find a house that you absolutely love and know that you can afford, but you are also aware that it needs some rehabilitation. This does not mean that the home must be literally falling down in order for you to be eligible; a minimum of $5000 worth of repairs means you can apply for the loan.

Those who already own a home that itself is needing rehabilitation may do the same thing. As long as there is a minimum of $5000 worth of repairs needed, you are eligible to apply.

How much your mortgage can be is determined by one of two methods. Either the property value before rehabilitation, plus the cost of rehabilitation is considered, or 110% of the property’s appraisal value is considered. Whichever one is the least is the amount your mortgage will be.

HUD203K only applies to single-family dwellings; however, some condominium properties are eligible if they meet other certain requirements. If your home fits the above category, and if you can make the monthly mortgage payment that is quoted to you, you can make an application.

Again, the home must need at least $5000 in repairs. Homes that will need to be demolished or razed as a part of the rehabilitation program are still eligible; however, the original foundation structure must remain intact and in place.

For more information, go to http://www.hud.gov/offices/hsg/sfh/203k/203k–df.cfm

Dubbed Commonwealth Solar II and Commonweath Solar Stimulus, the programs aim to fill the gap in financial incentives left when the first, $68 million Commonwealth Solar program ran out of money in October — more than two years ahead of schedule.

At the time, solar installers told the Boston Business Journal they were concerned the lack of incentives would stop projects from moving forward.

Commonwealth Solar II will provide rebate incentives for small residential and commercial systems, with total allocations up to $4 million per year. This program will be funded through the Massachusetts Renewable Energy Trust, which managed the last Commonwealth Solar program and is funded by a surcharge on electricity bills.

For larger projects, state officials plan to tap $8 million in state energy plan funding from the American Recovery and Reinvestment Act to provide rebates to projects.

Both programs are expected to begin in late January.

“Commonwealth Solar has already played an important role in speeding the Bay State’s transition to a clean energy economy,” Gov. Deval Patrick said in a statement. “I commend the more than 1,200 homeowners, businesses and municipalities who have taken advantage of this innovative program in the past two years, and encourage many more to partner with the commonwealth as we continue along the path toward a cleaner future.”

The state continues to work on a long-term incentive program based on renewable energy credits, which must be purchased by utilities and can be used to finance projects, rather than post-construction rebates. The Massachusetts Department of Energy Resources is developing regulations for such a scheme, and officials say they expect a program to launch in January.

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Click here to read more about the history of the Yacht Haven auction.
Boston’s Yacht Haven marina is under agreement and is slated to sell for an eye-popping $9.9 million in January, federal bankruptcy court documents show.

The sale price is nearly $2 million more than the $8 million credit bid that North End marina’s current owner, Northern Bank & Trust, paid at bankruptcy auction in August. No private bidder came close to matching that price at auction, with most bidders quitting the action at $5 million.
The $9.9 million figure is also close to the $10.1 million face value of Northern Bank’s 2005 mortgage on the 4.75-acre property.
According to a purchase and sale agreement on file with the bankruptcy court, Northern Bank has set a Jan. 8 closing date for the property. The buyer is Boston Boat Basin, LLC.
Paperwork on file with the secretary of state’s office shows Boston Boat Basin is controlled by prominent Newburyport developer Charles Lagasse. The LLC shares an address with Newburyport Development, a unit of Steve Karp’s New England Development. Neither Lagasse nor New England Development could be immediately reached for comment.
At the August auction, many attendees argued the marina’s former owner, Yovette Mumford, had grossly overpaid for the waterfront property. Mumford, the former sister-in-law of Congressman Ed Markey, took the waterfront gem from Modern Continental for $11.7 million in 2005. Auction attendees told Banker & Tradesman that Yacht Haven’s marina business wasn’t worth nearly that much, and that Mumford could have only justified the purchase price by redeveloping the site and operating it in violation of a series of deed restrictions.
The marina’s Commercial Wharf neighbors appear to believe that is still the plan. A bankruptcy court motion filed today by the Commercial Wharf East Condominium Association argues Northern Bank is attempting to sell the property free of any litigation currently attached to the site. The condo association’s land court suit restricted the marina’s parking and barred Mumford from operating the business as a restaurant, bar or function hall. The bank has also asked the bankruptcy court to bar the state’s land court from maintaining jurisdiction over deed restriction disputes. That, the condo association’s brief argues, would amount to an end-run around the site’s deed restrictions, making it much more valuable.
Northern Bank has rebutted this argument, telling the bankruptcy court that Boston Boat Basin has “repeatedly announced its intention to abide by” the restrictions.

“I generally use my patio for entertaining, but for a spa treatment, that’s special,” says garden designer Jill Slater. With simple embellishments from around the house and purchased from the garden center, Jill shows how you can turn your patio into a day spa where special guests can enjoy facials, foot baths and even spa rock treatments.

Creating a spa-like atmosphere
In order to create a tranquil spa retreat, find ways to appeal to the five senses – sight, smell, taste, sound and touch – to help you get in the mood. Incorporate plants and accessories that offer appealing colors, textures, fragrances and even tastes.

To start, embellish existing patio furniture with big, comfortable pillows that invite spa-goers to sit and rest. Don’t be afraid to use different colors, sizes and textures. You can find a variety of pillows designed for indoor and outdoor use, and if you want something that stays on the patio, many of the new weatherproof fabrics are durable and attractive. Toss the pillows anywhere a bit of added comfort is desired.

However, if you’re looking for an inexpensive alternative to dressing up drab pillows and cushions, use a beach towel as a covering. This way you can adjust it to fit an existing pillow accordingly, and when you’re finished, take it back inside to wash in the laundry. “The best spas are meticulously clean so a beach towel that gets flung into the washing machine after a messy spa treatment makes a lot of sense,” Slater says.

A home spa just wouldn’t be a spa without the sound of tranquil water. “You can buy miniature tabletop fountains practically anywhere,” Slater says. To add your own personal touch to your tabletop water feature, float flowers from your garden in the water or add brightly colored rocks or marbles to the water basin.

The soothing power of plants is an important ingredient to your backyard spa oasis. Use plants with palate-pleasing scents and textures. Herbs such as rosemary, lavender and scented geraniums not only smell and look great but can also be used in your homemade herbal spa treatments. Incorporate plants in shades of pastel pinks, purples, whites and silvers to create a soothing color palette. Get creative with moveable container plantings.

Finish setting up your outdoor spa by accessorizing with scented candles, an outdoor rug, hand towels, bottled water and other objects. Play some soft mood music in the background. Set up a standalone umbrella to protect spa-goers from the sun or stand an oscillating fan in one corner to provide a gentle breeze on a hot day.

Homemade spa treatments
Once the atmosphere has been created, invite some friends over for a day at your home spa and prepare all-natural homemade spa treatments that you can give to your friends. Start with a foot and hand soak. Add equal parts of warm water and buttermilk to a large bowl and stir gently. Then add a few dashes of essential oil to the mixture. Lavender can be used for its calming and balancing properties, while eucalyptus is a good choice for an uplifting, refreshing feel. Place hands in the bowl and allow to rest for a few minutes. Add smooth rocks to the bowl for a nice foot massage.

Perhaps a little exfoliation is on the menu? Prepare two cups of sea salt, one cup of grapeseed oil and a few liberal dashes of jasmine essential oil for a moisturizing exfoliating treatment.

And who doesn’t love a rose mask facial? Prepare three tablespoons of natural yogurt (not the low-fat kind), 2-1/2 tablespoons of rose water and a dollop of honey as a natural antiseptic.

You could even grow the sponge used to apply these mixtures. The loofah sponge is a natural exfoliant and can be grown in your own garden. Purchase loofah gourd seed online or at a specialty garden center and plant them after the last frost date. Let the fruit ripen on the vine. Harvest them when you can hear the seeds rattling inside. Peel away the skin, remove the seeds and allow them to soak in water prior to use.

Patios are supposed to be relaxing sanctuaries that make you feel better, and here’s one that helps you look better too. But the best part about the patio spa? No appointment necessary!

A major kitchen overhaul can be very costly, yet equally effective when placing your home on the market. While not everyone can afford the cost of a possible $75,000 full-scale remodel, there are simple, wallet-friendly steps you can take to spruce up the heart of your home with a surface renovation. Here are the top 10 do-it-yourself tips for updating your kitchen and making it sparkle:

1. Stick to the Plan – The key to keeping your kitchen update within budget is by not changing the existing layout. Use what you have to make the job easier and much more affordable. This will also keep any plumbing or electrical costs to a minimum.

Replacing the handles and knobs on your cabinetry and drawers can enhance the design of your kitchen.

2. Accessorize – You’d be surprised with how replacing the old knobs and handles on your cabinetry and drawers can make a difference in your design. Today’s hardware comes in any shape or design you can imagine, and can pull a room together with a polished, clean look.

3. The Magic of Paint – New paint makes everything look clean and bright again. And don’t forget the ceiling. Applying a fresh coat to your kitchen is an easy, inexpensive, effective way to revive the room. Have fun with it, and paint the trim a contrasting color, or create an accent wall by using a different shade of the same color. Try to stick to neutral colors, as an overbearing scheme can turn off some potential buyers.

4. Everything but the Kitchen Sink – Replace the faucet and update it with a more sleek, stylish model available at any home improvement store. The work is not difficult and just requires a few basic tools. But the outcome does wonders for the look and design of your kitchen.

5. Make a Splash – Updating the backsplash can add a new dimension of style and creativity to your design. This project can be done with a bit of tile, a new coat of paint, wallpaper, or even beadboard.

Installing a rack above your island creates a stunning focal point.

6. Shade for Your Island – Does your kitchen have an island? If so, install a pot rack over the island to save space while adding an interesting focal point.

7. Save Face – Do your appliances clash with the new design of your kitchen? You can update your appliances without buying new ones by replacing the panels to your dishwasher, stove, or refrigerator to match your new color scheme or even your cabinet door color.

8. On the Surface – If your existing countertop is old, worn or outdated, try replacing it with some new tile. This can be done pretty inexpensively, especially if you don’t have a lot of counterspace. Again, try to keep it neutral.

9. Let there be Light – Creating the best lighting design for your kitchen is like cooking a great meal; you have to have the right recipe and the proper ingredients. Ceiling lighting sources can be replaced with updated fixtures or designs, many of which utilize brighter, energy efficient bulbs. Adding under-cabinet lighting eliminates shadows created by ceiling lights placed close to cabinets. Plus, they create abundant light to help you see your meal preparing projects better.

10. Look Down – Once all the other work is completed, look to the floors to complete your updated package. Choose flooring that is easy to maintain, since spills, drops and accidents of all sorts happen in the kitchen. Think function before beauty when it comes to the kitchen floor. Rest assured, with all the styles and designs available today, there are plenty of beautiful choices.

Making the Most of Dining Rooms

When considering various dining room ideas, it’s important to think about the size of the room compared to the size of the dining room furniture. Dining room tables and dining room chairs must be the right scale for the size of the floor plan, or else no one will be able to sit comfortably and enjoy a meal. The general guideline for dining room chairs is to allow about two to three feet clearance for guests to get into and occupy seats. The minimum allowance for traffic around the dining room table and chairs should be approximately two feet. This will ensure for an easy traffic flow for your guests.

In addition to the size of the space, you should also consider how many people will be using the dining room. For a family of four, their daily needs are for a minimum of four dining room chairs. If guests frequently join the family for lunch or dinner, then an expandable table along with several extra dining room chairs will be invaluable. For a home with one dining area, this adjustable dining room furniture design will be even more important as the room transforms to accommodate small or large gatherings.

Dining Room Furniture Options

Dining room ideas are really limitless since the materials available for tables and chairs can range from wood, metal, glass, plastic, stone, leather, and fabric. The basics of dining room decorating involve first selecting the right table and chairs. Dining room tables come in many shapes such as round, square, and rectangle. Round tables allow for better eye contact than oblong or rectangle versions. A round or oval table will also make it easier to add an extra chair when the need arises. Square dining room tables are becoming more popular especially in contemporary dining room design. Banquette or booth designs are ideal for breakfast nooks or casual dining spaces.

Dining room chairs are often available in a matched set with a table. However, an eclectic mixture of different chairs is well-suited to a cottage, country ranch, or contemporary dining room design. One painless way to try this idea is to buy the same style of chair in different colors or finishes if that is available; otherwise, you have them upholstered or painted in several coordinating colors.

If space allows, dining room furniture should also include pieces for use as serving areas and storage. The most commonly seen dining room furniture used to serve up food include buffets, sideboards, console tables, and harvest tables. A contemporary dining room design often features a large floating shelf as a buffet area. Dining room furniture storage options for dishware and glassware include china cabinets, breakfronts, cupboards, baker’s racks, wine racks, or open shelving.

listing broker Carmela Laurella Otis & AHearn

In addition to modern features found in competing projects located
in Downtown Miami and Brickell, The Jenny Tower has
incorporated the most important feature, security. Access from the
street is controlled via card-key system and monitored by security
on a 24-hour basis. The parking garage is gated and also
monitored by state of the art systems. Project amenities include a
pool, exercise facility and public meeting room.

The Jenny Tower is conveniently located near the University of Miami Hospital and the University of Miami, Leonard M. Miller School of Medicine. Miami Beach is less than five miles from the property and the and Miami International Airport is seven miles away. Both Miami Seaquarium and Miami Metro Zoo are 10 minutes from the property.

The homes range from 880 square foot one-bedrooms to a nearly 5,000 square foot penthouse. The 130 homes in the building have 38 different floor plans, offering various unique layouts. Many of our homes have curved walls of floor-to-ceiling glass with beautiful views of either the new Rose Kennedy Greenway or the harbor. Other exceptional features of the residences are oversized mahogany entrance doors, ceiling heights up to 10′, custom-built cabinets and generous closets. The kitchens and baths feature top of the line appliances, including Sub-Zero refrigerators, Wolf ovens and stoves and Asko washers and dryers in every home.

The Residences at The InterContinental is located on the waterfront in downtown Boston, overlooking the Rose Kennedy Greenway and the Boston harbor. The North End, Faneuil Hall, Quincy Market, Back Bay and Beacon Hill are all a short walk from the Residences. All major transportation will be convenient to the location of the Residences, including Route 93, the Mass Pike, the T, the new Silver Line and a proposed water taxi. With the construction of the Rose Kennedy Greenway, the HarborWalk, the new Institute of Contemporary Art and several new restaurants, downtown Boston has become an even more vibrant and exciting place to live.