McArthur Homes awarded Best of State 2009

McArthur Homes was recently awarded the 2009 Best of State for Residential Construction in the entire state. Judges recognized their innovation and business practices, successful business management in a challenging market, and remarkable achievement in customer satisfaction. The Best of State organization awards business throughout the state of Utah for achieving great success in a variety of industries, from dining, entertainment and education to construction, technology and community service. It is a great honor to recognized by this organization who seeks out the “Best of the Best!”
For more information about the Best of State and other awards that McArthur Homes has received, please visit our website www.mcarthurhomes.com

How To: Improve Your Credit Score

Here here some excerpts from a handy article from Man vs. Debt with a few tips for improving your credit score.

Reader Question: Quick Ways To Raise Credit
by Baker on March 29, 2009

There are no extremely quick ways to raise your credit!
Even some of the “quick” methods that can raise your credit, usually take 30-90 days to actually appear. And of course, the best way to build up a great credit score is gradually, over time. That being all fine and dandy, we did discuss a view strategies over a quick phone call.

Pull your credit report and check for inaccuracies!
My friend had paid to pull his credit score (which he could have got as part of a free trial at MyFico.com), but had not pulled his actual credit reports. I told him the first step and one of the quickest ways to see a turn-around in your actual score is to make sure that the information in your credit report is actually YOUR information. He was surprised to hear that my wife was the victim of identity theft several years ago and that it is the fastest growing white collar crime in the world!

Fix inaccuracies and resolve any legitimate unknowns!
I wont be diving into the exact process for reporting fraud and fixing inaccuracies (that would be a post in its own), but I do want to point out that this is the quickest way to see a major difference in your scores. If you take 3-4 fraudulent, unpaid accounts off your record, you can imagine what that might do to your score.

Also, don’t be afraid to call creditors, especially those who might hold legitimate accounts that you did not honestly know of. A couple strategies that wouldn’t help my friend, but could help you!

My friend doesn’t have any open credit cards. He has no balances and canceled his credit cards a while ago. Although I strongly believe this is a great strategy to commit to being debt-free (see Declaring War: Canceling Credit Cards), I did tell him that his mix of credit ratio (10% of overall score) was down a little because of this. Opening a new credit card wouldn’t immediately help as the new credit would temporarily ding his credit. It also wouldn’t improve his account length until much later and would only marginally improve his mix of credit.

If you DO currently have credit card debt:
Try calling all of your credit cards and asking them to raise your credit limits. See if they can raise your limits without re-inquiring on your credit score, therefore avoiding any temporary ding from an inquiry. This will lower your overall debt utilization ratio, meaning you will be using a lower percent of your total available debt, thus raising your score. Be sure to site payment history, length you’ve been a customer, etc… If all else fails, threaten to cancel the card and ask for their retention department. Credit card companies will often do just about anything to keep a customer they are making money on!

Rearranging revolving debts. Your overall utilization rate is important (see above), however so does the amount of debt on each specific card. For example someone may have a $1,000 balance with $5,000 in limits over 3 cards. In this example, let’s say one card is maxed out ($1000 of $1000 limit) and the other two have balances of $0 with $2,000 limits. This arrangement of debt is actually hurting the individual. They would be better off having $200 on this first card and $400 a piece on the remaining two. Their individual cards go from being 100%/0%/0% to being 20%/20%/20% in percent of used debt. This actually improves the credit score. Bottom line, having individual cards close to being maxed-out hurts your credit score!

2009 ENERGY STAR® LEADERSHIP IN HOUSING AWARD

McArthur Homes earns award for building new homes that protect the environment through energy efficiency

[South Jordan, Utah] – McArthur Homes is pleased to announce that it has been recognized by the U.S. Environmental Protection Agency (EPA) with a 2009 ENERGY STAR Leadership in Housing Award. This award recognizes the important contribution McArthur Homes has made to energy-efficient construction and environmental protection by building more than 79 ENERGY STAR qualified homes last year. Collectively, these homes will save our customers approximately $35,313 on utility bills each year.

The environmental benefits of these ENERGY STAR qualified homes are equal to the equivalent of:

• Eliminating the emissions from 39 vehicles;
• Saving 234,156 lbs of coal;
• Planting 64 acres of trees; or
• Saving the environment 459,227 pounds of CO2 per year.

To earn the ENERGY STAR, a home must meet strict guidelines for energy efficiency set by the U.S. Environmental Protection Agency. These homes are at least 15% more energy efficient than homes built to the 2004 International Residential Code (IRC), and include additional energy-saving features that typically make them 20–30% more efficient than standard homes.

ENERGY STAR qualified homes offer homebuyers all the features they want in a new home, plus energy-saving features like effective insulation systems, high performance windows, tight construction and ducts, properly-sized and installed efficient heating and cooling equipment, efficient products, and third-party verification of energy performance.

“Most homebuyers focus on what's outside the walls,” said Sam Rashkin, National Director for EPA's ENERGY STAR Homes Program, “but they also need to look behind the walls for the energy-efficient features found in ENERGY STAR qualified homes that help ensure comfort, quiet, improved indoor air quality, and low utility bills for years to come.”

About McArthur Homes
McArthur Homes is a locally owned and operated family business building new homes for Utah families along the Wasatch Front since 1993. McArthur has been an Energy Star partner since 2001 and has built hundreds of Energy Star qualified homes. According to Ron McArthur, “Our buyers appreciate the monthly savings on their utility bills, and also enjoy knowing that the home is better for the world and the environment”. McArthur is currently building Energy Star homes in West Jordan at Amberly and in Lehi across the freeway from Cabella’s. More information is available online at www.mcarthurhomes.com.


About ENERGY STAR
ENERGY STAR was introduced by the U.S. Environmental Protection Agency in 1992 as a voluntary market-based partnership to reduce greenhouse gas emissions through increased energy efficiency. Today, ENERGY STAR offers businesses and consumers energy-efficient solutions to save energy, money and help protect the environment for future generations. More than 12,000 organizations are ENERGY STAR partners committed to improving the energy efficiency of products, homes, buildings and businesses. For more information about ENERGY STAR, visit www.energystar.gov or call toll-free 1-888-STAR-YES (1-888-782-7937).

Home Sales Up in Utah!

The article below discusses the recent increase in home sales, due in part to the Housing Stimulus Bill. As a Design Consultant for McArthur Homes I can definitely say that we have seen a large increase in new home owners over the past couple of months. Now is a fantastic time to buy a home, not only because of the $6,000 & $8,000 grants available but also because of the fantastic interest rates and affordable pricing. For more information visit McArthur Homes.

Early Indicators Show Housing Stimulus is a Home Run
by Grant S. Whitaker, President and Chief Executive Officer, Utah Housing Corporation

Utah is only one month into our economic stimulus for housing, and house sales are hopping. Nearly 250 people have already purchased homes with $6,000 Home Run Housing Grants. With 1,600 grants available, they could be gone in a matter of months.
March activity in the Salt Lake housing market scored among the highest in the country, according to Zelman & Associates, a leading national real estate research firm that measures activity in 55 markets around the country. The Home Run grant program is cited as a key factor.
A number of home buyers are using both the $8,000 federal tax credit, available to first time home buyers, and the $6,000 Home Run grant, generating a $14,000 discount on a home purchase. When combined with historically low interest rates, this is an unparalleled opportunity for home buyers.


The sale of the excess inventory of new homes will have a positive effect of stabilizing the entire market of homes for sale, including existing homes. Whenever supply exceeds demand, home prices tumble. Clearly the sale of 1,600 new homes through Home Run will not completely restore the market, but it will help.
We are pleased to be a part of this Home Run economic stimulus program. We believe the benefits will play out in a big way as Jim Wood as projected, helping home buyers into a home, putting nearly 9,000 construction workers back to work, and generating $324 million in total earnings.

Home Run Bill Update

Here is a quick update on the "Home Run" Bill (details in article below):

The bill, which will provide up to $6,000 in down payment assistance to buyers of New Construction homes, has now passed the Senate and the House! It is expected that Governor Huntsman will sign the bill at the beginning of the week. Buyers will be able to apply for the $6,000 through their lender and the money will be distributed through Utah Housing.

For more information email kristi@mcarthurhomes.com or contact our preferred lender, Scott Smith. There is only enough money available for approximately 1,660 home buyers and it will be distributed on a first come first serve basis, so don't delay!

Potential $6,000 Down Payment Assistance for New Construction

Now really is the best time to buy a brand new home! Not only is the government offering an $8,000 tax credit, but now Utahns may be able to receive up to $6,000 in down payment assistance thanks to a new bill that has been passed by the Senate. The following article is from KSL.com:

Senate OKs bill to help buyers of new homes.
March 10th, 2009 @ 8:00am
By Mary Richards

SALT LAKE CITY -- The Utah Senate has approved a measure that would give Utahns financial help with the down payment when buying a brand new home.

Senate Bill 260, sponsored by Sen. Scott Jenkins, R-Plain City, would give people $6,000 for the down payment on a new home. The Standard Examiner reports the money would come from the $10 million Utah is set to receive for housing assistance from the federal stimulus package. The money would go to more than 1,600 buyers on a first-come, first-serve basis.

It's an effort to help homebuyers and home builders by reducing the number of new homes sitting on the market since a housing boom declined about two years ago.

The grants would apply only to a 30-year, fixed-rate mortgage for people who make no more than $75,000 a year. It's for first-time homebuyers and existing homeowners who qualify.

Realtors and economists say this program could really help the housing market. The University of Utah's Bureau of Economic and Business Research told the Standard Examiner the program could create 8,000 jobs in Utah's housing sector and add $27 million in income tax revenue for the state.

The bill now moves on to the House for consideration.

For more information on financing, contact Scott Smith, McArthur Homes' preferred lender.

What Buyers are Looking for in a Home...

Whether you are looking to sell your home, buy a home, or build a new home, it's important to know what other buyers are looking for. What will be a good investment? What will give me the biggest return on my money?

Here are a few answers from REALTOR magazine.

FIVE KITCHEN AND BATH FEATURES BUYERS WANT MOST
36% Separate shower enclosure in master bath
31% Eat-in kitchen
24% High-end appliances
23% Granite countertops
21% Kitchen island

FIVE RETROFITS BUYERS LOVE
Tile a backsplash- use a bright color or a bronzelike metallic
Add undercounter lighting- improve safety and ambiance
Paint the upper kitchen cabinets- choose a different color for a custom look
Add doors with glass panels to some cabinets-or create open shelves to display a few lovely dishes
Change the hardware- for a fresh look, install new knobs and pulls, or reface the cabinet doors

Click here for more information on which products will be the best investment for your home.

$8000 Tax Credit for 1st Time Home Buyers

By Les Christie, CNNMoney.com staff writer

Last Updated: February 17, 2009: 12:13 PM ET

NEW YORK (CNNMoney.com) -- There's a nice windfall for some homebuyers in the economic stimulus bill awaiting President Obama's signature on Tuesday. First-time buyers can claim a credit worth $8,000 - or 10% of the home's value, whichever is less - on their 2008 or 2009 taxes.

A big plus is that the credit is refundable, meaning tax filers see a refund of the full $8,000 even if their total tax bill - the amount of witholding they paid during the year plus anything extra they had to pony up when they filed their returns - was less than that amount. But there has been a lot of confusion over this provision. Adam Billings of Knoxville, Tenn. wrote to CNNMoney.com asking:

"I will qualify as a first-time home buyer, and I am currently set to get a small tax refund for 2008. Does that mean if I purchased now that I would get an extra $8,000 added on top of my current refund?"

The short answer? Yes, Billings would get back the $8,000 plus what he'd overpaid. The long answer? It depends. Here are three scenarios:

Scenario 1: Your final tax liability is normally $6,000. You've had taxes withheld from every paycheck and at the end of the year you've paid Uncle Sam $6,000. Since you've already paid him all you owe, you get the entire $8,000 tax credit as a refund check.

Scenario 2: Your final tax liability is $6,000, but you've overpaid by $1,000 through your payroll witholding. Normally you would get a $1,000 refund check. In this scenario, you get $9,000, the $8,000 credit plus the $1,000 you overpaid.

Scenario 3: Your final tax liability is $6,000, but you've underpaid through your payroll witholding by $1,000. Normally, you would have to write the IRS a $1,000 check. This time, the first $1,000 of the tax credit pays your bill, and you get the remaining $7,000 as a refund.

To qualify for the credit, the purchase must be made between Jan. 1, 2009 and Nov. 30, 2009. Buyers may not have owned a home for the past three years to qualify as "first time" buyer. They must also live in the house for at least three years, or they will be obligated to pay back the credit.

Additionally, there are income restrictions: To qualify, buyers must make less than $75,000 for singles or $150,000 for couples. (Higher-income buyers may receive a partial credit.)

Applying for the credit will be easy - or at least as easy as doing your income taxes. Just claim it on your return. No other forms or papers have to be filed. Taxpayers who have already completed their returns can file amended returns for 2008 to claim the credit.

New Home Spotlight

There are always a few homes each month that we build which really stand out to me in terms of design. The Boogaard family did a fantastic job of designing their home and I can't wait to see it once they've put their finishing touches on everything. Here is what they had to say about building and designing a new home:

What is your favorite feature or aspect of your new home?
We love the open floor plan. Having the kitchen open to the family room all with vaulted ceilings make the space feel large, but still intimate and welcoming.


What was the best part about designing your new home?
The ability to make specific product choices that work for us. We got to pick the cabinets and flooring we have always wanted, making our home custom to our lifestyle.


How did you decide on your color scheme?
We chose the cabinets and worked around them.


What plans do you have to enhance your home once you move in?
We hope to add accent colors to some of the spaces to tie in our decorating style.

What advice would you give to other new home owners who are designing their homes?
Put you upgrade money into things that will make the most difference. For us that meant the kitchen, flooring, and bathrooms. We felt that those are things that will really hold their value and be appealing to other buyers should we sell in the future.


Thanks Jordan & Ereka for letting me spotlight your home. You did a fantastic job contrasting the creme cabinets with rich floors and counter tops. I hope you enjoy your beautiful new home!

Fresh Looks for your Home

As the Design Consultant for McArthur Homes, I work with many future home owners who just don't know where to start when designing their brand new home. I suggest that they look at websites, magazines, and friends' homes to see what they like and what they don't. With that thought in mind, here are a few images that I have gathered together. Take a look and see if anything fits your personal style. In the future, I'd like to do groups of images focusing on just one style: contemporary, rustic, old world etc.

I'd love to feature your images, so send me your favorite home looks at kristi@mcarthurhomes.com