17 Clever Gift Ideas for the Home Enthusiast

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Home and the holidays make this time of year so special. So why not focus on the home for your gift-giving this season? We've got unique gift ideas to surprise every home owner on your list. Plus, 7 Extravagant Home Improvements You Wish You Had. FACEBOOK FAVES: 5 Hoiday Hosting Disasters | Tiny Houses 17 Clever Gift Ideas Great gift ideas for the home to fit any budget: • Gift Ideas Under $50 • Gift Ideas Under $100 • Gift Ideas Under $500 • Priceless Use olive oil and vinegar to remove scratches from hardwood floors. • How to Repair Wood Trim • How to Repair Wall Dings   Forward to a Friend Find us on Facebook Follow us on Twitter

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Eco-Friendly Holiday Decor - 12/9 Money Pit e-Newsletter

Home Remodeling Repair & Improve Ideas & Solutions Radio & Podcasts Contact Us Community Presented by: The Welcome Mat Decorating your home for the holidays can be a fun activity for the whole family, and one that is usually steeped in tradition. This year, why not start a new tradition--make your holiday a bit greener with the eco-friendly decorating ideas in this week's issue. You'll also get tips on how to put safety first when setting out those warm and cheery candles. You can do-it-yourself, but you don't have to do it alone. This Issue Eco-Friendly Holiday Decorating There's nothing like decking the halls to put you in the holiday spirit. Imagine the added glow of knowing that your festive displays are not only beautiful, but good for the environment, too! read more Holiday Candle Safety Tips Candles are a beautiful way to decorate your home for the holidays, but they can also be dangerous. Follow these safety tips to reduce the risk of candle fires in your home. read more SKIL Power Cutter Makes Holiday Jobs Easy When you're decorating and doing projects around your home during the holiday time crunch, it helps to have the right tools to get the job done fast. The Skil Power Cutter is a very versatile tool that can be used again and again for dozens of holiday projects and chores. read more Twist Handheld Shower from Moen Dragging yourself to the shower in the morning can seem like a boring chore, but it doesn’t have to be. Bring a revitalizing twist to your daily showering routine with the new Twist Handheld Shower from Moen. read more ON THE AIR: Childproof Your Home for the Holidays Learn how to make your home safe for children over the holiday season. Get tips on keeping your chimney safe and in top shape. Consumer's Digest gives you great ideas on which appliances are worth giving as gifts. Plus get answers to your home improvement questions about basement drainage, radiant heating, fixing drafty doors, and more. read more Share This Information With A Friend! Simply forward this Email. And invite friends to register to receive this E-newsletter each week. If you would like to unsubscribe from our weekly newsletter, please refer to the unsubscribe directions at the bottom of this newsletter. You are currently subscribed to moneypit_e-newsletter as: dabeisner@yahoo.com To unsubscribe: click here or write to Squeaky Door Productions, Inc., 57 S. Main Street #133, Neptune, New Jersey 07753

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There’s no ‘Plan B’ if mortgage interest deduction goes away

There’s no ‘Plan B’ if mortgage interest deduction goes away

Tom Kelly The Spokesman-Review  December 4, 2011

Moe Veissi, the new president of the National Association of Realtors, didn’t even blink an eye when the sensitive question was raised. It wasn’t an elephant-in-the-room topic, but it was close.

“There’s a lot maneuvering on Capitol Hill,” the reporter said. “If the mortgage interest deduction is in jeopardy, what’s Plan B”?

“We have no Plan B,” replied Veissi, a tough, savvy Florida resident and former chairman of NAR’s political action committee. “We are absolutely opposed to any measure that might weaken our industry, and we are quite confident that we are going to prevail.”

The mortgage interest deduction (MID), along with the capital gains exclusion on a primary residence, availability of funds for jumbo loans and the streamlining of the short-sale process, are the key national topics concerning most Realtors, according to a 2010 survey.

While the MID is most likely to remain intact for primary residences, any cuts in the incentive likely would first be directed at second homes.

“Here’s a statistic that most people don’t know about,” said Richard Mendenhall, a former NAR president. “Eighty to 90 percent of all the personal property tax paid in the United States is paid by homeowners. Now when people say the mortgage interest deduction is a perk, I tell them we’re already paying most of the load. It would be a huge tax increase for homeowners.”

The mortgage-interest deduction is not a dollar-for-dollar tax deduction; it reduces taxable income. The maximum limit is a combined $1.1 million on first and second homes. A flat tax would nullify both. Also on and off the table has been a 15 percent credit on some mortgage amounts. The 15 percent credit would only be for mortgages up to a certain limit, say $500,000. In other proposals, not only would interest on home-equity loans no longer be tax-deductible, but also out the window would go deductions for state and local property and income taxes.

Before 1987, mortgage interest on all residences could be deducted without limit. Since then, consumers with more than two residences are required to choose two “qualified” residences where mortgage interest could be deducted, but the selected residences are allowed to be juggled into the “qualified” category from year to year.

Daniel Webster Johnson, an agent specializing in recreation homes in Breckenridge, Colo., told a session at the NAR convention in Anaheim that he doesn’t believe eliminating the MID for second homes would hurt his business.

“In 1984, Australia stopped all capital gains-free sales and started charging taxes on most transactions,” Johnson said. “We all thought the market would plummet and we’d all be out on the street corner looking for a job. Well, it last about three months. … People will wake up the next day and decide they still want the property.”

Veissi credited second home buyers, especially international investors, for turning around the South Florida market. An estimated 10-year supply of condominiums has been reduced to seven months due to cash transactions by investors looking to hold the properties for long-term rentals.

Cash, probably as much low prices brought by oversupply, has made the difference in Florida. Financing for second homes has become scarce, with some lenders demanding 30 to 40 percent down payments.

Look for NAR to put all its lobbying muscle behind keeping the mortgage interest deduction in place. They are not about to let homes – first or second – be hit any harder.

In fact, the group is so confident it doesn’t have a Plan B.

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Handy Holiday Gifts - 12/2 Money Pit e-Newsletter

Home Remodeling Repair & Improve Ideas & Solutions Radio & Podcasts Contact Us Community Presented by: The Welcome Mat Nothing beats watching someone's face light up as they open the perfect holiday gift you thoughtfully selected for them. Need a present for your favorite handy person? We've got some great ideas for happy ho-ho-home improvement themed gifts, including Money Pit fan gear you can check out here, and very cool tools and more in our 2011 Money Pit Gift Guide. You can do-it-yourself, but you don't have to do it alone. This Issue Holiday Gift Guide 2011 Do you have a handy person in your life that already seems to have every tool on the planet? We can help! Get great gift ideas for everyone on your list this holiday season. read more Decorative Panels for Cabinet Doors and Drawers Decorative panels made with fabric or paper-wrapped hardboard make it simple and affordable to change the look of an outdated kitchen or tired piece of furniture. Here's how! read more Energy Efficient LED Holiday Lighting Avoid the high cost of holiday lighting on your electric bill this year by starting a tradition of energy-efficient decorating with LED and fiber-optic lighting products. read more How to Decorate Vinyl Windows Without Invalidating Your Warranty Holiday decorating can be fun, but not when you accidentally damage your vinyl windows or invalidate the warranty. To balance being festive with being smart around your vinyl windows, follow these holiday decorating do's and don'ts. read more ON THE AIR: Build Your Own Backyard Firepit Find out how to build your own backyard fire pit to enjoy a roaring fire in your outside space this winter. You can weatherproof your windows yourself this winter. Find out how to seal the cold air out. Plus get answers to your home improvement questions about leaky chimneys, unwanted foliage, eliminating woodpeckers, and more. read more Share This Information With A Friend! Simply forward this Email. And invite friends to register to receive this E-newsletter each week. If you would like to unsubscribe from our weekly newsletter, please refer to the unsubscribe directions at the bottom of this newsletter. You are currently subscribed to moneypit_e-newsletter as: dabeisner@yahoo.com To unsubscribe: click here or write to Squeaky Door Productions, Inc., 57 S. Main Street #133, Neptune, New Jersey 07753

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Good News!

Unemployment Rate Drops to 8.6%

The nation’s unemployment rate fell to 8.6 percent during the month of November, as employers added 120,000 new jobs to their payrolls, the U.S. Department of Labor said Friday morning. By the government’s calculations, the unemployment rate declined by 0.4 percentage point from 9.0 percent reported in October to hit its lowest level since March of 2009. Employment assessments for both October and September were revised upward.

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