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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.
Share these ideas with customers and use them for your own house. After all, who doesn't need to save a little money these days?
1. Plug air leaks with caulking, sealing, or weather stripping. Save 10 percent ($190 per 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. Visitwww.natresnet.org to find a qualified auditor in your neck of the woods.
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The number of homes for sale in the Twin Cities metro area continues to decline relative to a year ago. As of Monday morning this week, there were 26,674 homes for sale in the region, down 20.9 percent from a year ago. In other words, we've lost 1 in 5 homes in our inventory in the last year.
Sales are a different story. For the week ending June 20, there were 1,156 signed purchase agreements, up 32.1 percent from the same week in 2008. That's the 12th week of the last 13 to feature a year-over-year increase in sales activity exceeding 20 percent.
We must bear in mind, however, that sales are only up in certain categories and price ranges. Year to date, traditional home sales (excluding foreclosures and short sales) are still down 17.8 percent from last year. New construction sales are down 21.7 percent from last year. And sales of homes priced above $350,000 are down 26.8 percent from a year ago. The lion's share of market activity is taking place in the lower price ranges this year.
Interact with this post and others on "The Skinny," our market insight blog, by
NEW! The June Monthly Skinny Video is up online!
The attached MAAR Weekly Market Activity Report is information the Minneapolis Area Association of REALTORS® (MAAR) sends to REALTOR® broker members and interested parties on a weekly basis. This is provided by MAAR to help you understand the Twin Cities 13-county residential real estate marketplace. Please contact me regarding any questions or comments you may have.
Sincerely,
Mark
Mark Allen, CEO
Minneapolis Area Association of REALTORS®
(952) 988-3134
www.mplsrealtor.com
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Refund! That is a word sure to make anyone perk up their ears. And if you have ever had an FHA-insured mortgage then you should pay attention. While the refund process should be automatic, sometimes a refund gets missed or the payee can’t be located. First check the HUD website to see if you are owed a refund. You will need to enter your name or your FHA case number.
To be eligible for an insurance premium refund, you must meet these requirements:
To be eligible for a distributive share from the Mutual Mortgage Insurance Fund you must meet the following:
The HUD site encourages people who need help with their refund to contact them directly and not to hire someone to assist in collecting the refund. Often the collectors are scam artists. The direct number to the HUD support center is 1-800-697-6967.
For more details, directions on requesting your refund, and a list of the exceptions, read the FHA Homeowners Fact Sheet.
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To begin your search for a new home, check out my Listingbook.
Contact me, Kim Melin, for more information on buying or selling.
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This shouldn’t surprise any locals, but Edina High School ranks as one of the top 110 high schools in the nation! Newsweek magazine released a list last week of the top 1500 high schools and Edina ranks at 108! Among the Minnesota schools on the list, Edina High School ranks at number 2.
According to Newsweek:
Public schools are ranked according to a ratio devised by Jay Mathews: the number of Advanced Placement, Intl. Baccalaureate and/or Cambridge tests taken by all students at a scEhool in 2008 divided by the number of graduating seniors. All of the schools on the list have an index of at least 1.000; they are in the top 6 percent of public schools measured this way.
The Twin Cities area has 11 schools appearing on the list and Minnesota has 27 overall. This simply confirms what we have known all along. Minnesotans are a smart bunch!
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To begin your search homes in Edina, visit my website. When you are ready to visit any of these homes, or if you would like to list your home, contact me, Chris Prescott, at (952) 944-1728 or via email.
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