Sugar Clay Winery in Loess Hills

Nestled in the Loess Hills is a treasure. Acres of grape vines and a quaint winery with fantastic wines to sample.

Frank and Amy Faust started their journey in 2001 when they joined the Iowa Grape Growers Association and planted their first vines on their 6 acres of land. In May 2005 they opened their winery to the public.

The winery has a beautiful medium sized tasting room that can be rented for parties or small receptions.. A perfect woodsy backdrop gives the building a romantic feeling.

In the basement of the winery is where the magic begins. Barrels of wine fermenting at different levels. Even the bottling occurs on property.

The wines themselves have a fabulous bouquet and taste. This year they have bottled 7 different wines with a 2004 vintage.

But that's not all they sell, in the shop Amy has prepared gorgeous baskets with wine and other wine gift items that would make a perfect gift for the wine lover.

Food baskets with bread, Iowa cheese, and fruits are prepared to eat with wine tasted there or can be taken with you.

The name of the winery, Sugar Clay came from the soil itself. On each bottle they place the story,

IN THE 1800's, THE PIONEERS WHO SETTLED IN THE LOESS HILLS NOTICED THAT THE UNIQUE SOIL DISSOLVED LIKE SUGAR WHEN IT RAINED...THUS THE NAME "SUGAR CLAY" WAS COINED.

SUGAR CLAY WINERY & VINEYARDS IS NESTLED IN THE ROLLING LOESS HILLS, WHICH PROVIDE THE SOIL THAT GRAPEVINES LOVE.

THE FAUST FAMILY INVITES YOU TO COME ENJOY OUR HANDCRAFTED WINES AND THE REBIRTH OF GRAPE GROWING IN WESTERN IOWA.

Guaranteed Good Faith Estimates the Remedy to Settlement Sheet Shocks?

by Kenneth R. Harney

When you apply for a mortgage to buy a house, do you want to believe the "good faith estimates" of closing costs your mortgage broker or loan officer sends you three days later?

Of course you do. But thousands of consumers complain every year to HUD in Washington, saying the estimates they received were shockingly lower than what they were actually charged at closing.

For example, say your lender's good faith estimate of title insurance costs came to $1,400. But on the final HUD-1 settlement sheet they are over $1,800. Or the good faith estimate listed your total loan origination, title, settlement and other fees at $2,100, but the bottom line on the final HUD-1 said $3,200.

Who typically picks up the difference? Not the lender that made the estimates at application. Not the title company. It is you. That's because under current federal regulations, all lenders have to do is to provide you the estimates within three business days. But they don't have to warrant that the estimates are correct.

That could begin to change, however, thanks to a new movement underway among key mortgage lending trade groups in Washington. Several of them recently have endorsed the concept of either guaranteeing or "hardening" all home buyers' closing cost estimates. The groups include the National Association of Mortgage Brokers, the principal lobby for the country's 60,000-plus brokers; the Consumer Mortgage Coalition, which represents many of the nation's largest banks; and the National Association of Independent Mortgage Bankers. The Mortgage Bankers Association of America also is considering its own version of the plan.

The brokers association proposes a 10 percent maximum wiggle room -- or "tolerance" -- between good faith estimates and final closing costs. If a lender discovers that there will be any increases whatsoever beyond the original estimates, the lender would be required to "re-disclose" -- that is, inform the home buyer in writing before the closing date so there are no last minute surprises. If the increases are not re-disclosed, the home buyer would have the right to sue for damages.

The National Association of Independent Mortgage Bankers favors absolute guarantees of all fees that are directly controlled by the lender or broker. For example, if a lender estimates the appraisal charge to be $300 and the bill comes in at $450, the lender would have to eat the $150 difference. Or if loan processing and underwriting are estimated at $300, the lender would be prohibited from charging $400 or $500 at closing, as is now permitted under federal rules.

The same group proposes that once an interest rate is locked on a loan, no origination fees -- including points -- can exceed the good faith estimates. It also wants no changes to be permitted in title charges to occur, once the title company confirms its fees to the lender or broker.

The mortgage lending groups' move toward tightening the good faith estimates comes as HUD continues its work on a new RESPA settlement cost reform proposal, expected sometime in 2006. HUD's reform plan of 2002 went down in flames last year amid severe criticism by some of the same groups now recommending changes in the good faith estimates. The earlier HUD plan floated a "guaranteed mortgage package" concept that would have provided consumers rate-locked loans and settlement fee packages up front, as they shopped from lender to lender.

Real estate, title insurance and mortgage groups opposed HUD's proposals because they might have put small businesses at a disadvantage against larger competitors who could assemble fixed-fee packages for less through volume-pricing discounts.

If the lender trade groups unite behind guaranteed or "hardened" good faith estimates, that could give HUD the political cover to build its forthcoming RESPA proposals around that concept, effectively abandoning federal incentives for guaranteed packages. The net effect for home buyers would still be a big plus: They'd get closing cost estimates they could actually believe in and count on, rather than 11th hour shocks at settlement. Meanwhile, lenders who already offer popular fixed-fee programs -- GMAC Mortgage, Ditech.com, Abn-Amro Mortgage and Suntrust Bank among others -- would be free to continue doing so.

Avoid these rookie renovation mistakes...You'll save money and grief -- and improve the odds that your project will turn out as planned

You've just parted with serious cash to buy your first home. Now you need to part with more so the place no longer screams bad taste, broken pipes and bathrooms circa 1970.

Or maybe, with real estate prices through the roof, you can't afford to trade up from the starter home you bought two children ago. So you've decided to upgrade instead.

Whatever your reasons for renovating, take heed: Rookies often "don't understand how much it will cost, how long it will take or how proactive they should be," says Sal Alfano, editor of Remodeling magazine. Here are the pitfalls to avoid.

Mistake no. 1: Underestimating the cost

No matter how carefully you budget, count on spending at least 10 to 20 percent more than your initial estimate. That's because expenses invariably pop up that you couldn't anticipate beforehand.

Once workers knock down walls or rip up flooring, for instance, they may find mold, rotting pipes or other structural problems that need repair.

When Marc Siegel, a corporate underwriter in New York City, wanted to put a new floor on top of an existing tiled one, he was told by his contractor once work began that the tiles were too loose and the old floor would have to be ripped out. Extra cost: $3,000. Siegel agreed -- but only after negotiating the price down to $1,500.

To help minimize unexpected outlays, research the materials and brands you'd like to use before commissioning work, so you don't have to rely solely on contractor estimates. That $2,000 high-end fridge you choose after your kitchen remodeling begins may cost twice as much as the standard appliance he assumed you'd buy.

Mistake no. 2: Pinching pennies

Sure, you want to save a few bucks where you can. But sometimes it doesn't pay to scrimp, says Danny Lipford, host of the syndicated TV show "Today's Home."

With contractors, go with someone who's highly recommended and experienced in your type of renovation, not the cheapest guy. Favor quality products for anything installed in your walls; the cost to replace, say, a faulty shower valve is high since it involves breaking the wall and calling in a plumber.

Nor should you stint on items you'll use every day. Buy what you love. Otherwise, you'll kick yourself every time you turn on a faucet or open a cabinet.

Mistake no. 3: Failing to anticipate chaos

The stress of a renovation builds as the dust mounts, workers traipse through your home and everything takes too long.

"Remodelers count on at least one [client] explosion per job," says Alfano.

To minimize surprises, ask potential contractors lots of questions about the process, like "What's your time frame?" and "What time do you start and finish work?" Be clear too about your preferences, such as how often you'd like updates and how much the contractor can spend without consulting you.

Then tame your inner Felix Ungar. Good contractors will clean your place every day. But remember, "broom clean" doesn't mean "mop clean," Alfano says. Some dirt and debris are inevitable.

Mistake no. 4: Overestimating the payback

Not all renovations are equal equity builders. Typically, you'll recoup the most on bathroom and kitchen jobs. But the exact payback depends as much on where you live as on the project itself.

Talk to local real estate pros for the lowdown on what you can expect in your area.

What you can't measure in dollars and cents, of course, is the pleasure you'll derive from the improvements to your home. In the end, since you are the one who will be living there for a while, that's the payback that matters most.