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Winter Park Observer: Tips for Renovating Your Kitchen

Start with a budget. This is perhaps the most important step of all. Typically, a kitchen represents about 10-15 percent of a home's total value. Decide how much you're willing – or able – to spend first, as this should dictate all your other choices.

Prioritize. What's most important to you — granite counter tops or the stainless industrial fridge? Sure it's easy to mark everything a "must have," but what do you see distinctly when you imagine your perfect kitchen? Make sure to spend your money where it means most to you. Don't skimp on the things you really want, after all isn't that why you're remodeling in the first place? As for those things lower on your list …

Consider lower-priced brands. It may seem like basic knowledge, but searching for a more generic product can be a true art. Omega may be the cabinet of choice for Casa Feliz, but its parent company, MasterBrand, offers similar products at different cost levels. Don't just look for the lowest dollar, consider the source as well.

Be patient. Remember that a remodeling can be a work in progress, even over several years. Just because you had to settle on the B-brand cutlery now, doesn't mean you're locked into it forever. Go back to Step 1, and begin saving up for a time when you can bring everything together exactly as you want it.

By Matt Morrison Guest Reporter - Winter Park Observer


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Orlando Sentinel: Buyers younger as deadline approaches for tax credit

Borrowers are younger and are purchasing less-expensive homes as the November deadline approaches for first-time buyers to qualify for this year's federal tax credit, according to a report by FBC Mortgage.

"Overall, the market seems to be improving, and we expect activity in the first-time buyer market to increase as the tax-credit deadline in November is fast approaching," said Ron Nunziata, FBC's president.

Earlier this year, the average age for home-loan borrowers was 46, but it dropped to 43 in June and to 38 in July. Other trends in the July report include an increase in government loans vs. conventional mortgages, and a decline in the proportion of refinances as activity picks up with primary mortgages. Down payments have hovered in the $40,000-to-$50,000 range in recent months, while purchase prices have been about $180,000.

Because of tougher underwriting guidelines, average credit scores have been above 720 during the past two quarters — their highest point in more than three years, Nunziata said.

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