Real Estate

It's all about living somewhere, it's part of life so it's always good to know what's happening in real estate.

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Location: Boston, Massachusetts, United States

I'm a mother of two grown sons, my husband and I are empty-nesters at this point. Both of my sons have graduated from College. One is a graphic designer and the other is a senior credit analyst. My oldest is married and has a son (grandmother-yippee!) and owns his own home. My other son has a condo and getting married! There is something to say about all that. I am very proud of them and feel I accomplished a great task in my life. I've always work hard at everything I do and feel that is the only way I get things done to get what I want. I guess that's the way it was meant to be for me anyway. I truly believe things happen for a reason and if you want something you have to take chances to get it.

Thursday, October 02, 2008

10 Ways to Cut Energy Bills This Fall

Staying warm doesn't have to cost a fortune. Here are some ideas from the U.S. Department of Energy for conserving heat and saving money.

When the leaves start falling, you know that the heating bills are about to start rising. But keeping your home warm and cozy on chilly autumn nights doesn't have to break the bank.

The U.S. Department of Energy offers these simple tips and relatively inexpensive home improvements that will help ensure cold gusts stay out and your furnace doesn't have to work harder than it should.

The goal: Conserve energy and keep more of your hard-earned dollars in your pocket.

1. Plug air leaks with caulking, sealing, or weather stripping. Save 10 percent ($190per year) or more on energy bills. Focus on windows, doors, outlets or switch plates on exterior walls.

2. Properly maintain the heating system. Heating accounts for half the average family's energy bill (approximately $950 per year). Make sure the furnace or heat pump receives professional maintenance each year. The small cost (about $75-100 for most service calls) will pay back in better performance all year long.

3. Install a programmable thermostat. Programming the thermostat from 72ºF to 65ºF for eight hours a day while no one is home, or everyone is tucked in bed, will cut the heating bill up to 10 percent ($90 per year), paying for a basic unit in less than a year.

4. Seal and insulate heating ducts. A system can lose up to 60 percent of its warmed air before it reaches the register (wasting $570 in warmed air per year) if ducts are not properly insulated in unheated areas such as attics and crawlspaces.

5. Insulate, insulate, insulate. Adequate insulation in the attic, ceilings, exterior and basement walls, floors, and crawlspaces can save up to 30 percent on home energy bills ($630 per year). Focus on the attic. (Heat rises.) Most homes should have between R-30 and R-49 insulation in the attic. Learn more at www.eere.energy.gov/consumer.

6. Close fireplace dampers when not in use. When in use, reduce heat loss by opening dampers in the bottom of the firebox (if provided) or open the nearest window about an inch, close doors to the room, and lower thermostat setting to 50-55ºF.

7. Let the sun shine in. Open curtains on south facing windows during the day to allow sunlight to naturally heat the home, and close them at night to reduce the chill from cold windows.

8. Stay out of hot water. Water heating accounts for 15 percent of household energy use. Reduce water heating costs by lowering the water heater’s thermostat setting. Each 10ºF reduction can save between 3-5 percent in energy costs. Also insulate the hot water heater and hot water pipes.

9. Install storm windows over single-pane windows or replace them with Energy Star qualified windows. Storm windows reduce heat loss by 25 to 50 percent, and storm windows with low-e coating that reflect heat back into the room during the winter months save even more energy. Look for the Energy Star label to maximize savings. Energy Star qualified windows reduce heating and cooling bills by an average of $345, but could be higher in cold and hot climates, compared with uncoated, single-pane windows. Can’t afford new windows just now? Tape clear plastic sheeting to the inside of window frames if drafts, water condensation, or frost are present.

10. Net big savings with a little label. When replacing appliances, light bulbs, electronics, or heating and cooling systems, cut energy bills by up to 30 percent
($600 per year) with Energy Star labeled products. Use compact fluorescent light bulbs (CFLs) in place of comparable incandescent bulbs. Find retailers at www.energystar.gov.


These and other improvements that impact the energy efficiency of a home can save home owners money in the short term and serve as a selling point to potential buyers later. Be sure to save receipts, documentation, and manufacturer’s information.

Not sure where to begin? Try the Department of Energy's online energy audit tool at www.hes.lbl.gov. In the long run, a whole-house energy audit is a fool proof way to make a plan to address wasted energy and make a home operate efficiently for years to come. Visit www.natresnet.org to find a qualified auditor in your neck of the woods.

Wednesday, October 01, 2008

Reassuring Buyers in this Market

In unsettling economic times such as these, it is not unusual for home buyers to overanalyze market data and their home purchase decision to the point of being paralyzed with information overload or pure anxiety. The failure of several banks and financial services firms, the placement of Fannie Mae and Freddie Mac into conservatorship, and the volatility on Wall Street combined with uncertainty surrounding the presidential election only complicate matters for consumers.

As a result, many prospective buyers are sitting on the sidelines, despite the fact that current conditions within the residential real estate market are very favorable for those looking to enter into homeownership. To be sure, home prices are substantially more affordable than they were 2-3 years ago, and mortgage interest rates remain near historic lows. In addition, new, higher FHA loan limits and a $7,500 home buyer tax credit approved as part of the Housing and Economic Recovery Act of 2008 have effectively reduced the down payment hurdle for homeownership, especially for entry-level buyers. Finally, the increased capital for mortgage lending that will become available with the federal government's takeover of Fannie Mae and Freddie Mac should make it easier to obtain home financing in the months ahead.