LEE ELLIS, e-PRO Trainer. "RealtyLee" Green Homes & Technology Consultant

Residents of Fairfax South County neighborhoods like Laurel Hill, Laurel Highlands and Spring Hill have it pretty easy for recycling and household hazardous waste disposal. That's because these neighborhoods are near the Lorton I-95 Complex on Furnace Road; and along with the I-66 Transfer Station on West Ox Road in Fairfax, these two facilities in Fairfax County let residents keep undesirable materials out of their backyards, and out of the regular municipal waste stream.

The recycling and disposal facilities in Farifax and Lorton, VA are open almost year-round and accept a variety of recyclables (like paper goods and food and drink containers) and waste items (like outmoded appliances and yard waste). Eco-savvy residents can use these facilities plus other neighborhood recycling drop-off centers to reduce waste by recycling and to keep junk from negatively affecting their Fairfax County neighborhoods.

Besides the West Ox Road facility which serves the western part of the county and the Furnace Road facility serving Fairfax South County homes, there are nine other places to drop off items for recycling in Alexandria, Annandale, City of Fairfax, Herndon, Oakton, Reston and Vienna. The recycling drop-off centers create another option for residents who don't always leave their recyclables at the curb for regularly scheduled pick-up in the neighborhood. (That regular pick up is currently on Fridays for Laurel Hill addresses.)

Knowing what types of recyclables are acceptable can be confusing, so it's wise to check the Fairfax County Web site to see the current list. The county holds special collection events for the less common recyclables and harder-to-manage disposables (like kitchen sinks.) Many of these items would be considered "household hazardous waste" despite some not seeming very dangerous to handle. Plus, many homeowners associations (like in Laurel Hill) and community managers frown upon leaving bulky items at the curb, so having the a recycling and disposal center nearby is convenient.

So what's the difference between recycling and disposing of waste? Well, for starters, a disposal fee, based on weight or volume; recycling is typically free. The West Ox Road and Furnace Road facilities may charge county residents a small fee to dispose of items like appliances and paint. While some of these waste items may seem harmless, their interaction with other items may get them labeled as household hazardous waste (HHW), which requires special handling per the the U.S. Environmental Protection Agency. Generally, HHW is leftover material which is either corrosive, ignitable, reactive or toxic, as defined by EPA. Residents can learn about what household hazardous waste one can and can't dispose of and how to handle waste safely via the County's Web site. Fairfax County has a separate process for business recycling and disposal of hazardous materials.

Did you know that residents of many multifamily Fairfax apartment and condo buildings have been recycling mixed paper and cardboard for years? The Code of the County of Fairfax calls for recycling of these items. Plus, in newer buildings (built July 2007 or later), the do-recycle list includes glass, plastic bottles and metal food and drink containers, too. if your building doesn't have a recycling system, you can contact the county's "Recycling Guy" at 703-324-5230 for requirements and tips on how to start a recycling program.

So the next time you're preparing trash for your local pick-up in Laurel Hill or Laurel Highlands or wherever you're staying, consider if some of that rubbish could be recycled or disposed of recycling center or special collection event near you. You may even come up with novel ways to reuse what otherwise would be trash -- like glass bottles reshaped for use as spoon rests and table-top trivets, on sale at the festival at Occoquan, VA a few weeks ago.

The next special collection event -- for electronics, televisions and computers -- is set for Sunday, August 16, 2009 from 10 a.m. to 3 p.m. at the I-66 Transfer Station, 4618 West Ox Road, Fairfax, VA 22030. More information about Fairfax County recycling and hazardous waste disposal is available online and by calling 703-324-5230. Happy recycling!

Lee Ellis, REALTOR, e-PRO, enjoys recycling and similar activities for sustainable living in Fairfax County, south of Washington, DC. For more information about living in Northern Virginia or using content from this Recycling and Household Hazardous Waste post, please contact Lee.

Fairfax, VA and Lorton, VA Recycling and Household Hazardous Waster Disposal Centers

In a continuing quest to learn not only what’s going on with the economy but also what individuals can do about it, I offer John Allison’s take on the financial crisis, its causes, the residential real estate market and possible cures. One of the longest-serving leaders of a U.S. bank, with two decades at BB&T, Allison, provides a timely mini-course on U.S. economics in about an hour on video. I recommend watching what you can at each sitting until you get the whole picture. Share the video link with colleagues, too.

The Ayn Rand Institute invited John Allison, Chairman of the board of directors of BB&T Corporation, to speak and captured his January 29, 2009 presentation in Washington, DC on video. He talks about subprime mortgages, timing of foreclosures, government regulation, housing values, short sales, bailouts, the HOPE program and TARP, affordable housing, fair value accounting (FVA), liquidity, bond markets and the rating system and plenty more. It’s curiously engaging and enlightening. http://www.aynrand.org/site/PageServer?pagename=reg_ls_financial_crisis

If you'd prefer reading a summary to watching the video, try Julia A. Seymour's news article about the event which notes that Allison blames a 'religious belief' in affordable housing as a cause for our current crisis.

So, go ahead! Learn something, pass knowledge to your clients, customers and colleagues, and may we all absorb this and act accordingly! Good luck!

Copyright 2009 Lee Ellis. Lee@RealtyLee.com Financial Crisis: A Banker’s Timely Take On the Residential Real Estate Market, and Possible Cures

Voila! New guidelines for home loan modifications are emerging from the U.S. Department of the Treasury. No doubt, it'll take loan servicers, real estate consultants and consumers some time to understand and put into practice provisions of this new Home Affordable Modification plan -- a system meant to keep homeowners who are underwater on their mortgages yet current on payments from going under. From scanning the guidelines, here are a few items which jumped out at me:

• Qualification Terms:

• The home must be an owner occupied, single family 1-4 unit property (including condominium, cooperative, and manufactured home affixed to a foundation and treated as real property under state law).
• The home must be a primary residence (verified with tax return, credit report, and other documentation such as a utility bill).
• The home may not be investor-owned.
• The home may not be vacant or condemned.
• Borrowers in bankruptcy are not automatically eliminated from consideration for a modification.
• Borrowers in active litigation regarding the mortgage loan can qualify for a modification without waiving their legal rights.
• First lien loans must have an unpaid principal balance (prior to capitalization of arrearages) equal to or less than:
o 1 Unit: $729,750
o 2 Units: $934,200

• Borrower Pay-for-Performance Success Payments:

Borrowers are eligible to receive a Pay-for-Performance Success Payment that goes straight towards reducing the principal balance on the mortgage loan as long as the borrower is current on his or her monthly payments. Borrowers can receive up to $1,000 of Pay-for-Performance Success Payments each year for up to five years.

• Payments for Short Sales and Deeds-in-Lieu:

Compensation will be provided to servicers and borrowers in order to facilitate short sales or deeds-in-lieu in those cases in which borrowers either fail the net present value (NPV) test or fail to qualify for, or default under, the modification program.

• Second Lien Elimination Payments:

To reduce the borrower’s overall indebtedness and improve loan performance, additional incentives will be provided to extinguish junior liens on homes with first-lien loans that are modified under the program.

• Plus, borrowers in bankruptcy or in the midst of foreclosure may still be eligible for a Home Affordable Modification.
  

These items are part of the Home Affordable Modification Program Guidelines of March 4, 2009 (pdf file) available at FinancialStability.gov which many real estate loan specialists likely will be pouring through in the next few days.

According to the Treasury Departmart's summary of the guidelines, the Home Affordable Modification program will work in tandem with the Help for Homeowners program, and is separate from the Home Affordable Refinance program (for homeowners current on their Fannie Mae and Freddie Mac loans). Loan servicers (lenders) will have to enter into agreements with Treasury to participate and will receive some incentives to make loan modifications under this program.

We'll all be working hard to get detailed, comprehensive, correct answers about this new program as soon as possible, and sharing information can save everyone valuable time -- and money. Practitioners and consumers, your comments are welcomed.

© 2009 Lee Ellis. Lee@RealtyLee.com. The New 'Making Home Affordable' Program: Loan Modification Guidelines May Help Millions of Homeowners and Spark New Standards

If you've been waiting for better tax advantages for energy-efficient home renovations -- doors, heating and cooling equipment, insulation, windows, etc. -- you may want to act soon. The recent economic stimulus package (February 17, 2009) expands the types of home improvements allowed and triples the credit -- up to 30% of the improvement cost with a cap of $1500, and includes cap exceptions for some higher priced items like geothermal and solar equipment.

Per the new U.S. Internal Revenue Service section 25c, choose upgrades to save water and energy costs, add comfort, or simply to do right for the planet, and be ready to submit the appropriate IRS form (5695 Residential Energy Credit) for 2009 or 2010 and supporting documentation. These tax credits cover a range of items for homeowners put into service between January 1 and December 31, 2009.

Since making energy-efficient upgrades to older homes (built before 1983) can help conserve overall residential energy use far more than even the most stringent energy-saving measures for new homes, this enhanced tax credit may also affect global warming. A 2008 California study revealed that retrofitting these older homes may boost cost-savings and carbon-savings by four to eight times compared to new home energy efficiency options.

The new tax incentive for energy efficiency could pump another $6 billion into the home renovations industry, according to the National Association of Home Builders. (So don't wait to book your favorite contractor.) Some states may offer additional tax incentives. Check the IRS Web site for specifics about the new energy efficiency tax credits for existing homes or contact a tax professional.

As I was researching TARP – the Troubled Asset Repair Program - I soon realized it wasn't really repairing assets, and that there were plenty of impacts on small business and entrepreneurs, including real estate consultants. I read three enlightening articles by Seattle-based executive coach Kelleen Griffin who tapped her banking background to provide a succinct review of how we got into a financial crisis and a few things each of us can do about it. In "What's TARP Got To Do With It?" Kelleen draws connections between liquidity, Tier 1 credit, and egos. Her spelling it out for us imparts a tad more understanding of a wildly complex issue, and that can be powerful. It prompted me to come up with a few reminders.

1. Market Smart. Start with your own marketing plan. If you have one, check it and keep it up-to-date. If you don't have a marketing plan, consider these questions right now, and note your thoughts: what are you trying to achieve, when and with or for whom; what resources do you have to do so; and how do you know if and when you've succeded? (I'd be delighted to steer you to straightforward marketing plan resources like Lindsay Berger's piece.)

2. Lead with revenue. This popular mantra suggests that one has to know the limits of one's means to avoid overspending beyond them. If you do some basic number crunching now, you may not have to do this in crisis mode later. (Please do heed Kate Phillips' comment to Kelleen's article -- closing credit card accounts can hurt your credit score; take a balanced approach.)

3. Be good to yourself. Relax. Breathe. Getting overwhelmed, worn out and worrying may not propel you as some old-fashioned optimism could. Take a break and browse the local library. Consider enrolling in a leisure class or designation to boost skills and efficiency. (e-PRO is practical and offers elective and CE credits.) Network. Smile.

4. Generate leads. Schedule how and when you'll fuel your pipeline, daily. Then implement, daily. Get in the pathway of buyers and sellers in your market. Prospecting pays, and not doing prospecting can be truly dangerous these days.

5. Get help. Ask for help. Expand your horizons. If your marketing plan isn't up to par, your budget is sagging, or you just can't recharge, then seek advice, or perhaps just solace, from others. Per Kelleen's article, check out local Small Business Administration resources, like in the Washington, DC and Northern Virginia area.

Lastly, life coach Kelleen states in her article:

"...You are the CEO of your own personal life... and you are still a hero in your own life. There is a child, a man or woman, a furry friend that doesn’t care what title you have, or how much is in your bank account. They need you, and they love you..."

So, what are you waiting for, then? Get a handle on your business expenses, your credit, mortgage and housing costs, and get ready to adapt. This may take a while....