As a GREEN REALTOR desgniee we understand what it means to have a "GREEN" home.

When you boil it down being "green" means energy efficnet.  How "green" is your home? Don't know well if your serious about saving money and the planet you can get an energy audit!  If your looking for resources for energy audits check out RESNET.

What is RESNET?

• An industry not-for-profit membership corporation
• A national standards making body for building energy efficiency rating systems

Who recognizes RESNET Standards?

• Mortgage industry for capitalizing energy efficiency in mortgages
• Financial industry for certification of "white tags"
• Federal government for verification of building energy performance for:
  • Federal tax credit qualification
  • EPA ENERGY STAR labeled homes
  • U.S. Department of Energy Building America program
• States for minimum code compliance in 16 states

What are the results of a rating?

• A relative energy use index called the HERS® Index - a HERS Index of 100 represents the energy use of the "American Standard Building" and an Index of 0 (zero) indicates that the Proposed Building uses no net purchased energy (a Zero Energy Building)
• A set of rater recommendations for cost-effective improvements that can be achieved by the Rated Building

Source : http://www.resnet.us

This site has resources for home energy audits and home energy ratings

A home energy rating involves an analysis of a home's construction plans and onsite inspections. Based on the home's plans, the Home Energy Rater uses an energy efficiency software package to perform an energy analysis of the home's design. This analysis yields a projected, pre-construction HERS Index.

 

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FHA Streamlined 203(k) Overview

The Streamlined FHA 203(k) program is intended to facilitate uncomplicated rehabilitation

and/or improvements to a home for which plans, consultants, engineers, and/or architects are not required. Due to the rehabilitation amount limitation of $35,000, eligible improvements are limited and can not include any major rehabilitation or remodeling, new construction such as room addition, repairs to structural damage, or site amenity improvements. (Repairs of this nature would be considered under the Standard FHA 203(k) Program which is not offered at this time.)

Eligible Improvements: Examples of eligible improvements are listed below (this is not an
all-inclusive list):

• Repair/replacement of roofs, gutters and downspouts.
• Repair/replacement/upgrade of existing heating, ventilation & air conditioning
• systems.
• Repair/replacement of plumbing and electrical systems.
• Repair/replacement of flooring.
• Minor remodeling that does not involve structural repairs, such as kitchens
• Exterior and interior painting.
• Weatherization, including storm windows and doors, insulation, weather stripping,
• etc.
• Purchase and installation of appliances, including free-standing ranges,
• refrigerators, washers and dryers, dishwashers and microwaves.
• Improvements for accessibility for persons with disabilities.
• Lead-based paint stabilization or abatement of lead-based paint hazards.
• Repair/replacement/addition of exterior decks, patios, porches.
• Basement waterproofing.
• Replacement of window and doors.

Most improvements are eligible provided they add value and are permanently affixed to the foundation. Improvements to detached structures and luxury items are not allowed:

• Luxury items include: Swimming pools, hot tubs, tennis courts, gazebos, barbecue pits, etc. Repair work to these items is also not allowed.
• Properties that require the following work items are not eligible for financing:
• Major rehabilitation or major remodeling, such as the relocation of a load-bearing wall;
• New construction (including room additions);
• Repair of structural damage;
• Repairs requiring detailed drawings or architectural exhibits;
• Landscaping or similar site amenity improvements;
• Any repair or improvement requiring a work schedule longer than six (6) months;

or

• Rehabilitation activities that require more than two (2) payments per specialized contractor.

The Streamlined 203(k) program may not be used to finance any required repairs arising from the appraisal that do not appear on the list of Streamlined 203(k) Eligible Work Items or that would:

• Necessitate a "consultant" to develop a "Specification of Repairs/Work Write-Up"
• Require plans or architectural exhibits;
• Require a plan reviewer;
• Require more than six months to complete;
• Result in work not starting within 30 days after loan closing; or
• Cause the borrower to be displaced from the property for more than 30 days during the time the rehabilitation work is being conducted. (FHA anticipates that in a typical case, the borrower would be able to occupy the property after mortgage loan closing).

Reinspection: If the cost of the renovation is over $15,000 then a second inspection by the original appraiser is required.

More Info:

• FHA Streamlined 203K Overview
• FHA Streamlined 203K Frequently Asked Questions

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