Spring 2014 News and notes on living the good life...
CountryMinute
Construction loan FAQ– by: James Cole Spring has sprung; at least I hope it has by the time you are reading this article. This is the time of year when many begin to have thoughts of constructing their own home. Naturally, it is also the time when many questions are asked related to construction financing. Do I need to own my land free and clear to obtain a construction loan? The short answer: no. A construction loan can be used to purchase land or to pay off a current lien on the property. If you do own your land free and clear, the equity in the land could be used toward the down payment.
What sort of down payment is required? It is common to plan for a down payment of 20 percent. This can be obtained in several ways. Most simply, it can be paid in cash. As mentioned earlier, if there is equity in the land, it could be used for the down payment requirements. However, if there is some equity in the land, but not enough to satisfy the full down payment, a combination of cash and equity can be used. Keep in mind, if you purchased the property less than 12 months ago, only the maximum purchase price value can be used toward equity, regardless of the appraised value.
Planting a Garden
Do I need to hire a licensed builder? GreenStone does not require you to have a licensed builder, as we have “do it yourself” construction programs. If you are new to home construction and would like to build the home yourself, you may want to consider consulting a licensed builder to determine the appropriate steps to get your project going. Note that lenders will require an overrun account for construction material and labor, and the percentage required for the overrun may be greater for an individual building their own home without home builder experience. Continued on page 3...
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Starting a vegetable garden at home offers a variety of benefits that you and your family will enjoy. If you plan it right, you can have a bountiful garden without spending endless hours tending to it. Here are a few basic tips to ensure you pick the perfect spot for your garden. Continued on page 2...
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Fitness Wearables Now that the weather appears to be making way for spring, many of us are thinking about lacing up our shoes and heading outdoors to enjoy the sunshine and shed some of the winter-weight that is inevitable after the holidays and a particularly long season spent mostly indoors.
track is by monitoring your daily exercise. Luckily, there are many wearable fitness devices available that make tracking your daily activity easy and fun! These wearable fitness devices can help you track your daily movement, calories burned, floors climbed and active minutes. Many devices are compatible with fitness apps and allow you to keep track of your progress online. The devices listed below are just a small glimpse of what is available on the market today. Be sure to do some research to find the device that is right for your lifestyle. Now, let’s get moving!
If you are like most, your diet and exercise regimen starts off with a bang, only to be derailed by a too-good-toresist chocolate chip cookie, or a rainy day. One way to help keep yourself on
Device Name
Price
Device Type Display
Heart Rate Monitor
Battery Life
System Compatibility
Basis B1 Band
$199.00
Wristband
Monochrome LCD
Yes
4 Days
Windows, Mac, Android, iOS
FitBit Flex
$99.95
Wristband
LED Indicator Lights
No
5-7 Days
Windows, Mac, Android, iOS
FitBit Zip
$59.95
Clip-On
Monochrome LCD
No
4-6 Months
Windows, Mac, Android, iOS
Jawbone UP
$129.99
Wristband
None
No
10 Days
Android, iOS
Mio Alpha BLE
$199.00
Wristband
Dot-Matrix LCD
Yes
10-12 Hours
Android, iOS
Nike+ FuelBand SE
$149.00
Wristband
Dot-Matrix LCD
No
5-7 Days
Windows, Mac, iOS
TECH TIP: Keep your family safe online • Talk to your children about going on the Internet, just like when they leave the house. Find out where they are going and who they are talking with. It would be beneficial to explore the Internet sites your child frequently visits. • Develop rules with your child about what is acceptable and reinforce safe behaviors for all social media. Parents should “friend” their children on Facebook, follow them on Twitter, and know who they connect with online.
• If your child’s computer is in their bedroom, move it to a public area in the house so their behavior can be more easily monitored. • Parents should check the browser history to know what sites their children are visiting. If you find the browser history empty, that may be a sign that unapproved sites are being visited. • It is a good idea to Google your family member’s names. You may be surprised at the amount of information available that you or your family did not intentionally post.
...Planting a garden continued • The perfect amount of light: A majority of vegetables require at least 6 – 8 hours of direct sunlight per day. If your plants do not get enough light, they will not produce as much and will become more susceptible to diseases. • Plenty of H2O: As expected, most vegetables do not have a high drought tolerance so if you are experiencing a dry spell,
make sure to give them a drink. When planning out your garden, pick a spot that is closer to a water source, this will make it easier for you. • The right soil: Success of any garden usually begins with the soil. Pick a spot that is moist, well drained and rich in organic matter (such as compost or peat moss).
• Protection from harmful conditions: To ensure the best result, it is important to choose a spot where your plants will be protected from cold winds in the spring and hot, dry winds in the summer. Also, try to steer clear of “frost pockets;” these are low-lying areas that may experience frosts later in spring and earlier in fall than other parts of your garden. Source: www.bhg.com
Spring Clean-up– With the hard winter and ice storm we had, your lawn, trees and flower beds will need extra care this spring. Tree limbs, branches and twigs that were damaged and fell due to the ice storm should be removed from your lawn and flower beds. Shrub or tree branches with visible damage should be pruned back to live growth. Use a handsaw for those onehalf inch or larger in diameter, and a chainsaw for large limbs. Shaping your shrubs with hand pruning shears will prevent a thick outer layer of growth that prohibits sunlight and air from reaching the shrub’s center. Trim overgrown evergreens back to the branch in areas you want to grow.
Repair areas of your lawn damaged by salt, plowing or disease for new seeding. Work in a one-half inch layer of compost to keep the new seed moist, increasing the germination rate. Prune your flowering perennials to 4–5 inches and ornamental grasses to 2–3 inches to allow new growth. Dig up your perennials, like daylilies and hostas, and divide them, leaving at least three stems per clump, and transplant extras to fill in sparse areas. Rake fallen leaves and dead foliage from flower beds as they can smother plants and foster disease. Remove annual plants from beds and discard them. Spreading
...Construction continued
Whatever your construction ideas are, we are here to help you through the process! Give your financial services officer a call and let them put their experience to work for you! James Cole is a financial services officer based in GreenStone’s Howell, Mich., branch. He has more than 14 years of lending experience and recently received a platinum Circle of Excellence award through GreenStone for his superior performance in 2013.
If you plan to use your chain saw, put fresh gas and chain oil in your saw, replace the spark plug, and check the tension of your cutting chain. A chain that is too tight can bind, overheat and wear out the bar. If it is too loose, it can come off of the bar. The chain could also be dull. If you get sawdust rather than wood chips, crooked cuts or you have to press down hard to cut, you should sharpen the chain. You should also check and file your chain’s depth gauges. Follow the manufacturer’s instructions for your saw.
Recipe Corner
Is it OK to do some of the work myself? Some people would like to do a portion of the work themselves in order to save money, or because they are especially handy at a certain portion of the building process. This is perfectly acceptable for some lenders, including GreenStone. However, when cost estimating the entire project, we will require it to be based on the cost of hiring all the work, even if you are planning to do a portion of it yourself. Unexpected situations arise; this will ensure that if for some reason you are not able to complete the work yourself, there are enough funds left on the loan to hire a contractor to complete the project.
pelletized fertilizer on the soil’s surface so that spring rains can carry it to the roots will help maximize bloom time and feed growth.
Slow-Cooker Root Beer Ribs Provided by Michigan Pork Producers Association
Ingredients 2 racks St. Louis-style spare ribs, (2 ¹ ³ to 3 pounds each), cut into Three or four rib sections ¼ cup dark brown sugar, packed 2 tablespoons chili powder 1 tablespoon salt 2 teaspoons onion powder 1 teaspoon allspice 1 ½ cup (12 oz.) can root beer, not diet (divided) 2 tablespoons cornstarch, dissolved in 2 tablespoons cold water
Combine sugar, chili powder, salt, onion powder and allspice in medium bowl. Set aside half the spice mixture (about ¹ ³ cup); sprinkle the rest over both sides of ribs. Pour ½ cup root beer into slow cooker and add ribs. Cover and cook on low 5-6 hours or on high for 3 ½-4 hours, until ribs are very tender. With 10 minutes left on ribs, combine remaining root beer and reserved spice mixture in medium saucepan over mediumhigh heat. Bring to boil, stirring to dissolve sugar. Add cornstarch mixture and stir until sauce thickens. Remove from heat; set aside. Remove ribs to platter and cover. Strain the cooking liquid and pour off fat. Add ¹ ³ cup remaining liquid to sauce; stir until smooth. Brush ribs with sauce, serve with remaining sauce on side. Source: www.porkbeinspired.com
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CountryMinute Inside this issue: - Construction loan FAQ - Planting a garden - Fitness wearables
- Spring clean-up - Root beer ribs recipe - Member notes
Greenstone member notes Customers who receive The Country Minute do not receive GreenStone’s agricultural member publication, Partners. Therefore, the following is a snippet of news and feature stories found in the most recent issue of Partners. More information and complete articles can be viewed at www.greenstonefcs.com by selecting “Publications” found under the news and media drop down.
Scholarships Available
Advocating for Agriculture
Students starting at Michigan State University or the University of Wisconsin this fall have an opportunity to earn a GreenStone scholarship. Learn more at: www.greenstonefcs. com/scholarships.
With so many unknown factors like weather and volatile markets affecting a producer’s bottom line, it is important to work tirelessly on the variables that can be affected by influence. One of the most critical ways in which GreenStone is helping to promote the business of agriculture and our members is by working directly with both federal and state legislators. Through a recent PAC drive, members in Michigan allocate a portion of their patronage refunds to support the MI GreenStone PAC, contributing more than $17,300. Eligible GreenStone employees and directors also supported the Farm Credit PAC by contributing
Annual Meeting GreenStone’s annual meeting is slated for Monday, April 28 at 3:00 p.m. at the corporate office in East Lansing, Mich. Stockholders are invited to attend and participate in the approval of 2013’s annual meeting minutes, candidates for the board of directors in regions one and two, and candidates for the 2015 nominating committee for all regions.
www.greenstonefcs.com
more than $14,600 with almost 50 percent staff participation. Top Sales Staff of 2013 Our staff take great pride in being more than a lender for our customers. For many members, our staff is an extension of their operation and a trusted resource. Take a minute to see which staff were recently recognized as GreenStone’s “best of the best” in sales performance for 2013 with the Circle of Excellence awards. Something to Share? Have something on your mind or kudos to give? Take minute and send your “Candid Comment” or “Pause for Applause” to marketing@greenstonefcs.com.