Tim Cahill MBA, EcoBroker

From my CyberGreenRealty blog on 6/19/09:

Despite the perception the market is still languid, the median listing price for single-family and condo properties in Arlington, MA is up 10% over the last quarter (3/19/09 – 6/19/09), to a healthy $439,450. The average listing price is currently $476,684, a 5% increase over the same time period.

To read more and see the data, visit CyberGreenRealty's Blog.

-TMC

From my blog on 6/18/2009:

The most recent Cambridge, MA, single family median sales price data show prices have jumped a healthy 12.7% compared to the same period last year. Arlington, MA and Somerville, MA have each experienced small declines in pricing (-5.2% and -6.3%, respectively). But combining all three locations, we find the median sales price has dipped only -1.4% compared to last year.

For more, read my blog at CyberGreenRealty's Blog.

--Tim

Let’s calculate some savings for you with a case study:

• Assumptions for Mr. & Mrs. Homeowner with 2 teenage children;
• Average monthly utility bill: $230;
• Annual utility rate increase: 5.5% per annum (avg. of last 30 years in CA)
  

Mr. & Mrs. Homeowner get a qualified energy audit done of their home (appx. $500-800, depending on your part of the country) and it’s recommended they install a solar system to help heat their home, hot water, and even supply excess energy BACK to the energy grid (think of this as your roof making money!).

Mr. & Mrs. Homeowner decide to go ahead with the recommended improvements. They have a 1100kWh/month, 4kW solar system installed at an approximate cost of $26,000 – but with all the available tax credits (State and Federal) and alternative financing methods available for energy-efficient improvements to their home, the final cost to Mr. & Mrs. Homeowner is around $15,000.

Within the first 5 years of use, the system will help save the Homeowners $2,528 on their electric bill. Over the life of the system (avg. 25 years), they will save over 35% or $44,000 on their utility bills. And this isn’t even including the energy that is sold back to the grid, which will result in even higher savings!

*Data courtesy CleanPowerFinance.com

-TMC

Did you know the average home costs the homeowner about $1,900 per year in utility costs? Of course, this depends on the area of the country, the climate, the number of people in the household, etc., but this is the average cost - yours may be higher or lower. OK, so maybe you already knew that, but did you also know that an energy-efficient home (as rated by a licensed home energy rater) can save you as much as 10-15% per year in utility costs? It's true! By taking some simple steps based on your home energy audit, such as sealing the duct openings or having a professional install insulation in the walls and attic, you can begin to realize an immediate monthly reduction in your utility bills. So let's get to the part where an EEM can help - whether you're buying, selling, remodeling, or refinancing a home, you may be able to benefit from one of the many programs currently available. Not to mention, commercial owners may also be able to benefit from some of these programs. Be sure to check with your local lender and ask about these programs. If they can't offer them, they should know of another lender who can, or feel free to check my website (www.cybergreenrealty.com) or send me an email at: tim@cybergreenrealty.com and I will be more than happy to help research and find a lender for you.

Some of the available programs are:

• Fannie Mae - Up to 15% of the mortgage total may be allocated to energy-efficient improvements with no affect on your loan-to-value ratio.
• FHA - Borrow up to 5% of the loan-to-value amount for energy-efficient improvements, not to exceed $8,000 or less than $4,000.
• Energy Star Mortgage - If your new home is 30% or more energy efficient than the Model Energy Code guidelines, you may qualify for an Energy Star mortgage. The benefits of this mortgage are: Allows up to a 2% "stretch" in the allowable debt-to-income ratio by the lender, as well as at least one of the following incentives:
  • A lower interest rate;
  • A discount on closing costs or origination fees; and/or
  • May pay for the cost of the initial home energy audit.
• Utility financing may also be available in your area. Check with your local banks, non-profits, or other organizations to see what alternatives may be available.

Why such good deals? Because it's in EVERYONE'S best interest for homes to be more energy-efficient:

• Homeowners benefit from the reduced utility costs and healthier indoor environment;
• Home Buyers can get more home for their money;
• Home Sellers benefit because they have a documented energy audit report they can use as a marketing tool to distinguish their home from others;
• Lenders benefit because the home (their collateral) is more cost-effective and valuable to them;
• Utility companies can invest in more research of alternative energy methods because the demand for them is increasing.

So whether you're a buyer or a seller, remember:

• Energy efficient homes cost less to maintain
• Buyers can get more home for their money with an EEM
• Buyers can get a slightly higher loan amount to cover costs
• Sellers can distinguish their home with a home energy audit

And don't forget to speak with your accountant to see what other tax breaks you may be eligible for after the improvements are complete!

-TMC

Did you know that most homes built in the United States before 1978 contain lead? And not just on the walls.... Of course, the walls and window sills are probably your biggest sources of lead in your house, but elevated levels of lead may also be found in:

1. Lead dust (that paint that's peeling on your window sills breaks down into dust and can be more easily breathed in);
2. Drinking water;
3. Older painted toys and furniture (remember that mantle from your grandmother's house you loved and incorporated into your living room? It just might contain lead paint!);
4. Certain hobbies can expose you to lead - such as stained-glass making or pottery (glazes)

Here are the actual levels that are considered dangerous by the EPA:

1. Paint: Equal to or greater than 1.0 mg/sq. centimeter or .5% weight
2. Floor space: Equal to or greater than 40 micrograms/square foot
3. Window sills: Equal to or greater than 250 micrograms/square foot

How should you check for lead? Hire a trained, certified professional to do the testing. They will first perform a paint inspection by taking flakes from certain areas and testing them. Then a risk assessment will be performed, including any possible lead dust from your windows, etc.

What do you do if you find lead present? You need to perform a lead abatement - meaning you need to call a qualified, trained professional who has special training in removing or sealing the areas containing lead. Also, I suggest checking out the Environmental Protection Agency's (EPA) web site at: http://www.epa.gov/lead

Remember! Sellers MUST disclose any known lead issues to future buyers and buyers MUST be given the opportunity to test for lead, if they so desire. The normal protocol is for the lead inspection to take place during the customary 10 day inspection period, so it's vital that you use a qualified, trained professional to do the testing and receive the results in time.

If you have any questions or, if you happen to live in the Arlington, Mass area, feel free to check out my web site at www.CyberGreenRealty.com for further information and listings of local resources.

-TMC