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Energy Efficiency

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Many homebuyers are often surprised by larger than expected energy and utility bills once they move in. After you have been in the home for approximately a year, you should have a better sense of your average heating, cooling and electrical costs. By spending a little time and/or money, you can make your home more comfortable and efficient.

For starters, try implementing a few of these quick and simple energy-saving tips to see immediate results on your various utility bills:

  • Keep your thermostat set around 78 degrees in the summer and 68 degrees in the winter. By avoiding constant adjustments you can stabilize your energy bills while keeping your home at a comfortable temperature year round.
  • Water that is wasted from leaky faucets and showerheads can really add up. Fortunately, they’re easy to fix with a do-it-yourself book. Toilet tank water-savers can also mean significant dollar savings.
  • Compact fluorescent lighting costs more than standard incandescent bulbs, but fluorescents last more than 10 times longer and use just a quarter of the electricity. Over its lifetime, a compact fluorescent bulb can save up to $60 on your electric bill.
  • Fireplaces can be a big energy leak. Check dampers and screens to make sure warm air isn’t escaping when the fireplace isn’t in use. Consider installing an energy-saving firebox to help circulate heat. If the fireplace is just for decoration, cover the chimney.
  • Make sure to keep filters clean and operating parts oiled for all your home appliances. Clean air conditioning filters and wall units each year. Change furnace filters frequently, and keep your furnace motor oiled. In fact, paying for a professional inspection once a year will keep things running smoothly and likely save you larger replacement costs later on.

In addition to these basic energy-savings tips, for a reasonable price you can insulate your home, or upgrade your current insulation, to maximize your energy efficiency. Insulating your home is one of the best ways to protect against high heating and cooling costs. Start with any unfinished attics and crawl spaces to get the most savings. Then move on to ceilings and walls and basement and garage. Be sure to check the weather-stripping on your doors and windows as well to keep the house draft-free and energy efficient..

Thoughts About the Upcoming Year….

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I believe that the new congress will be more business friendly and finally start putting the housing downturn in our rear view window.  It would also appear that the President has heard the message sent in November and is willing to work with this new group.  From where I stand, what makes America great is our ability to change if something isn’t working.  Most societies do not have this flexibility and are resistant to change; therefore, can’t move forward.

Interest rates will continue to be volatile because we just don’t have answers about where this economy is headed. Just in the last month we’ve seen the rate on a 30-year mortgage rate go from 4 percent to 4.875 percent and that was after the Federal Reserve said they would buy $600 billion in Treasury securities with the stated goal of stabilizing rates!

Assuming that rates stay in some kind of moderate range —like between 4.25 percent and 5.25 percent— the affordability index will continue to be better than it has in decades. However, underwriting standards will continue to be tight. Lenders are paranoid about having to buy loans back and will be very picky about details, which will drive borrowers crazy.

There is talk about eliminating the tax deduction for mortgage interest. It may well happen, but when it does, it will not be an isolated change. It will be done as part of a more comprehensive overhaul of the tax code, so it should not deter buyers from buying a home.

On the local level, unemployment is at 9-9.5% as of November 2010. We had a total of 670 homes sold and currently 784 on the market. The average sales price is $ 109,132.00.