Blog

Building an energy-efficient home starts with a commitment to reduced emissions and a desire to create homes that are healthy, safe, and practical for ordinary families. We all recognize the importance of reducing our carbon footprint and while we may not be able to stop burning fossil fuels like oil and coal, we can learn to live better lives by using energy efficient home construction methods and materials. Two paths to meet your energy efficient residential construction goals exist, and both bring about an efficient, durable home that you’ll enjoy for many years to come! First, let’s look at how you can go about meeting your energy efficiency goals without a commitment to reduce fossil fuel emissions. This option may not appeal to you because it doesn’t involve any of the changes described above.

Recommendations for Energy Efficient Home Construction

You can achieve greater energy efficiency through following the recommendations found in “The Energy Star Guide to Net Zero Energy” which is published by the Environmental Protection Agency (EPA). The guide advises builders to implement certain processes, such as the incorporation of energy efficiency improvements into the homes designs and construction techniques, improving air quality throughout the house, including improved insulation, venting and air conditioning, eliminating or reducing the use of unvented and vented spaces, the reduction of waste gases, including the use of low-emitting sources of air conditioning and heating, and more. If you would like to meet your energy efficiency goals, but aren’t quite sure how, then you might want to consider a home construction company that has completed projects with the EPA as an option. These types of companies typically receive credits for the improvements they make to a home, rather than actual building credits.

Solar Energy in Energy Efficient Home Construction

Now let’s take a look at how we can go about meeting our energy efficient home construction goals by adding solar energy incentives to our efforts! Utilizing solar energy incentives can reduce your electricity and gas bill costs by up to 30%! When it comes to solar energy incentives, the benefits are highest for those homeowners who choose to purchase solar cells to use as their primary energy source. For this reason, many people who have access to a lot of sunlight prefer to install active solar heating and cooling systems on their roofs. Unfortunately many homeowners never get around to purchasing a solar power system. There is no reason why this should be the case, especially if you can hire a reputable roofing contractor to install them!

Are Solar Panels a Good Option For You?

With the recent interest in green building, and the need for “going green” in general, many people are wanting to know if solar panels can be used as part of a complete energy efficient home construction project. The simple answer is yes – solar panels are often used in both the construction of a new home, as well as retrofitting of existing homes. There are a few things that must be understood about solar panels before deciding whether they are right for your home. A solar panel’s system is designed to collect solar energy and convert it to electricity using photovoltaic cells (solar cells are chips that use photovoltaic effect to change the amount of light energy received by the semiconductor particles into electricity). If your home uses more electricity than it needs, or if your gated community or residence is located in an area that receives very little sun, you might want to consider purchasing and using a solar power system to offset your energy needs.

Why Are Homeowners Interested in Using Solar Panels?

Many homeowners are also interested in solar panels due to the tax credits available to them for energy-efficient home construction and installation. As more people are able to take advantage of the incentives provided for new construction and retrofitting of existing homes, the cost of these projects is becoming less expensive than ever. Many homeowners may also qualify for federal programs that provide financial assistance for energy-efficient home construction and installation. These programs have helped to make building a new home more affordable for homeowners and could ultimately save you thousands of dollars over the life of the loan.

Conclusion

One of the most important benefits of using renewable energy resources is that they will greatly reduce the impact your household or condominium has on the environment. Building a home that is “green” will help the environment – and this in turn will increase your property value, lower your monthly utility bills, and most importantly, increase your peace of mind. In addition, your home will be contributing towards an overall decrease in greenhouse gas emissions, which will in turn benefit our health and the environment.

Signals Indicate Market Slowdown

California’s real estate market has recently started to show signs that not only is it slowing down, but it might actually be heading towards yet another crash. New data is currently showing that overall sales for new and existing homes, as well as condos, are down a whopping 11.8 percent compared to last year’s data. Despite overall sales falling, the median home purchase price has risen to just under $540,000, a 7.3 percent increase from last year.

The sales slump seems to have started in June 2018, hitting a new 4 year low. Data for these figures were collected from around the state, especially within the normally booming real estate markets in Los Angeles, San Diego, Riverside, Ventura, Orange, and San Bernardino counties.

While sales slumped across the market for new and existing homes and condos, it was new home sales that slumped the worst out of the three market segments. New home sales are currently down state-wide by 47 percent compared to last year, which is an extremely concerning stand-alone figure. These figures become even more concerning when you consider the fact that the California real estate market has on many occasions been a predictor for the near-term health of the greater national real estate market.

Why is the Housing Market Slumping

Experts across the California real estate market all seem to agree on the main culprits behind the home sales slump. Lack of affordability and shortages in housing inventory are likely the two main causes. With the median home price in California sitting at an all-time record high, that means there are simply fewer affordable homes on the market than ever before. Prospective buyers are not only finding it to be increasingly difficult to find a home that they can afford, they’re also becoming far more apprehensive taking on the risk associated with mortgaging a home in peak market conditions.

With median home prices peaked, prospective home buyers are also finding it to be increasingly difficult to attain affordable financing. Saving the required down payment for an average California median-priced home of $540,000 is an extremely daunting task, with many potential buyers simply being unable to save that much money. With the down payment obligations unlikely to be realistic for many home buyers, this issue alone automatically disqualifies many potential home buyers, especially younger new home buyers.

California and the National Real Estate Market

Over the last several decades, the health of the real estate market in California has always been a very accurate predictor for the health of the markets throughout the rest of the country. This is due to the fact that California has a massive housing market and one that is amongst the largest nationally. As is usually the case, national markets are again reflecting the state of California, albeit with a slight delay. Nationally, housing prices are rising throughout most states. Similar to the conditions in California, national real estate inventories are shrinking while median house prices are rapidly increasing. If the real estate market does crash in California, then it just might foreshadow a greater real estate market crash nationally.

Renting Can Often Be Cheaper Than Buying

Although renting a home, condo, or apartment in California can be exceptionally expensive, it is still much cheaper than buying a home in many cases. Take San Francisco, for example, which has one of the most expensive housing markets in the country. Renting a home is almost 20 percent cheaper in the city than buying a home, creating a huge disincentive for many new prospective home buyers. In most cases, when median home prices in the US shoot up rapidly, they outpace rising rent prices by a fair margin. This usually creates a window of 2-3 years where renting will suddenly be more attractive than buying, as the rent prices take time to shadow median home prices. When this happens, local markets generally see a large percentage of prospective home buyers pull out of the market and opt to rent instead.

Can California’s Economy Handle a Huge Real Estate Slump?

While another huge real estate market bubble burst could happen in the near term, it’s not likely to cause any serious calamity to California’s relatively healthy economy. California just this year became the world’s 5th largest economy, unbelievably surpassing the United Kingdom. The state has an impressive total GDP of about $2.7 trillion dollars, a figure that is hard to even fathom. Due to the sheer enormity and power of California’s economy, it is widely agreed upon that the state has enough economic cushion to withstand even a severe real estate market collapse. That is not to say that such an event wouldn’t leave a painful market on the economy, however, it definitely would not have enough sway to harm California’s long-term prosperity.

Is it Wise to Sell a Home Today

With the possibility of a real estate bubble bursting in California, it would be wise to sell your home, but only if you plan to rent or reinvest your equity gains into a real estate market outside of the state. Speaking to a local real estate agent can help you to keep an accurate pulse on the market conditions should you consider selling in today’s potentially volatile market.

If you plan to buy a home, most experts are saying that it would be wise to continue saving up a sizable down payment and waiting out a potential fall in median house prices. Most experts do not believe that the median house prices will continue to rise over the long term, as the inventory shortages alone should be enough to pull home values down a bit in the coming years.

How To Find The Right Home Inspector

As a prospective home buyer, there might be dozens of properties to review before finding the proverbial “dream home” worthy of placing an offer. Once your real estate agent has negotiated the initial offer to buy a home and it is accepted, the real work begins. This is where a home inspection is going to prove to be crucial. The results of a home inspection can determine the final cost of the home. They could be several issues that would generate a charge-back. That is where the person who is offering to sell a home will reduce the asking price to allow the buyer to pay for repairs. That might be a valuable consideration if a roof or furnace needs to be replaced. The home inspection might even create circumstances where the dream home could be considered a nightmare. This is why finding the right inspector for any type of real estate transaction is so crucial. Here are some helpful tips on how to find a qualified home inspector:  

Check Their Qualifications

  When you are looking to buy a home, your inspector can help identify any issues with that property might have that could become a financial burden. This is why it is vital to ask about the inspector’s qualifications. Have they had training in construction and building maintenance? If so, then what kind of training?   Depending on the age of the real estate property, there might be issues with regard to lead-based paint or asbestos that have to be looked into. Has the home inspector been trained with hazardous substance detection? There might even be structural concerns that an inspector should also be able to address. Do they have any engineering training? In other words, they’re not just looking for water damage in the ceiling.

Finding The Right Home Inspector

Ask For Sample Reports

  Each inspector has their own reports. They should make samples available that will allow you to assess all the specific details of what they’ll be looking for at the home. Ideally, this report should go beyond just a checklist. It should offer up details of any areas of concerns. Having a multi-page report with photos included is always preferred.  

Get Their References

  Every home inspector should have references from former clients. You’ll want to call up the clients who have lived in their homes the longest. They will be able to tell you if the details of that inspection were accurate. It might take a few months for any problems to surface in a home. If the inspector caught those problems when they were minor, then they are definitely someone to consider.  

Review Their Certifications

  Becoming a home inspector takes training and certification. Not every home inspector is required to be part of the groups associated with this field. However, it goes to demonstrate their dedication to their craft when they do become members. The American Society of Home Inspectors, and the National Institute of Building Inspectors are all the prominent trade organizations in this field. Being a member of one or all of them is a good sign.  

Ask About Equipment

  A qualified home inspector should be utilizing a lot more than just a flashlight and a level. There are many high-tech devices that can analyze electric circuits, moisture content and carbon monoxide levels. Inspectors can also put digital cameras to work to gain access to crawlspaces and rafters that might not be easy to examine. Your Realtor might have recommendations for a qualified home inspector that you can hire. Don’t hesitate to be present when the inspection is happening. It might take a few hours of waiting in the home but it will be time worth spent when you can get immediate feedback.

How To Succeed With A Career In Real Estate

Are you looking to start a job in real estate? Many people think that getting education and a license is all they need. However, there are a lot of things that you need to know. The schools will only teach you about the legalities of practicing.

 

It is important for newbies and any others interested in real estate to learn the pillars of success in the business. You will be able to gain knowledge and skills in marketing, and management to help you. There is a high attrition rate for new agents, and without proper knowledge, and funding, breaking into the business can be a tough uphill battle.  

 

1. Be Goal Oriented

One can only go as far as the goals they set. Beyond that, an individual is lost and without direction. Goals are essential in any business. They act as a road map to lead you to where you ought to be. Determine what your goals are in the career you are pursuing.

 

You can also find out what drives you to do what you do. The drive should be greater than the need to buy or sell a home. The knowledge will help you remain strong during the tough times. Write down the goals on paper and make regular evaluations. The goals should be specific, measurable, time-bound, attainable, and realistic. Goals will drive you to greater heights and direct you to success and make you the best local Realtor around.

 

2. Be Collaborate

You cannot survive like an island in the real estate business. You will need to make healthy and beneficial relationships for the success of your business. Healthy relationships with your clients and partners are the foundation of a thriving business. Identify the vital resources you require when you buy a home or sell one.

Get together a team of people to help you in your journey. You will need other partners such as insurance agents, title agents, mortgage agents, among others. Meet with your partners and interact with them. The interaction helps in establishing relationships for successful collaboration. Treat everyone as a potential client who wants to buy a home.

 

3. Be Innovative

Innovation is the aspect that will keep your business at the top and keep it there. There are the market and industry changes that occur every day. You need to become innovative to find solutions to the problems and challenges arising. Another important thing that requires innovation is beating your competitors. You have to make your business gain a competitive advantage over the others.

 

Change strategies to adapt to the changing environment and the needs of your clients. Do not concentrate on one success and forget that the journey is still on. Find out the latest and current trends in the market, synthesize all the information and create a unique solution for your business.

 

4. Be A Better Person

The business can only grow if you as the owner are also growing. You need to seek to become wiser every day in each aspect including business, knowledge, and people skills. Get rid of habits that hold you back from performing optimally like procrastination and fear.

 

You should also seek to find your drive and motivation in business and capitalize on that. Strive always to provide value to your clients. A business should not only be one transaction, but a relationship that is long term. Working on yourself will make managing your business easier and manageable.

 

5. Be A Better Business Manager

Managing your business is the most critical part of starting your own business. Many things require managing such as the employees, the company, the clients, the partners, and your life.

 

Look for opportunities to increase your management skills. Attend conferences and seminars that involve other business owners and managers. Network with experts in the field from time to time. Most importantly, look for mentors who have made it. Seek the advice of the mentors and learn from them. Management skills will help you deliver quality services to clients and build your business to success.

 

Real Estate Interests You Might Want To Know

Are you into real estate and looking to sell or purchase your condo? There are several opportunities nationwide for serious professionals. You can find a great opportunities that will allow you to own your first condo. Many mortgage lenders may be picky when it comes to low-income and moderate income customers, but clearing up your credit can help you get in a better position for becoming a condo owner. In fact, buying a condo can be tedious work and require the help of a professional. Get a quality residential offer with the help of a real estate agent and mortgage broker.

Business News On Housing Foreclosures

Housing foreclosures are on the rise across the country. While many condo owners struggle to make their mortgage payments, areas like California have seen a 20 percent increase in foreclosures. For many housing professionals, this is an opportunity to purchase a condo and become a part of investment property. Unfortunately, many condo owners have lost their condo to foreclosure, but many residential housing professionals see this as an opportunity to buy a condo, renovate the property, and resell it to make a profit. The housing foreclosure industry has been a lucrative business despite the many families that have been affected.

How To Start Investment Property From A Foreclosure

Most people believe turning over investment property to sell isn’t as simple as people make it out to be. You have to do more than buy property, fix it up, and sell it. You have to analyze the property to plan to purchase thoroughly to avoid buying a condo that’s a financial risk. Another important step is finding out is the condo owned by the borrower (condo owner) or lender (bank). At this point you’re ready to purchase a condo, but only according to your budget.

Know Your Housing Terminology

What is a foreclosure? A foreclosure is when the borrower can no longer afford to make payments and then lender has to end up reselling the property to make up on the difference. The borrower will be given an opportunity to make the payments or try to sell the condo during the pre-foreclosure term. The lender will try to work with the borrower because it’s expensive and time consuming foreclosing on a condo. In fact, if you decide to sell your condo, don’t take the first offer by wagering with all of the potential condo buyers involved.

How To Know How & When To Sell A Condo

Before you consider selling your condo, you should always make sure condos are in demand and that buyers are shopping.  Ideally it’s best to have your condo on the market during the peak season, Summer for most, but not all. It’s best if you can put your condo on the marketing when the housing market is good, but it’s also nearly impossible to “time the market”. If you’re able to create a bidding war with several different clients, you might be able to get a higher price for your condo, but this isn’t always the case. Pricing your condo higher, or lower, than market average can have different results on your condo selling process, and both have their own set of pros and cons.  Discuss your pricing strategy with your Realtor and come up with a price that will give you the results you’re looking for. You may be surprised what that number turns out to be.

You can always hire a professional to take the guesswork out of selling your new or foreclosed condo. In fact, condo specialist’s suggest being prepared to make the necessary repairs on the condo before it’s placed on the market. You should also check the deeds on any condo that you plan to buy; a title company and title insurance policy can help with this. If flipping condos is your niche it can be a profitable business, but it requires that you take time to find good condos, great buyers, and secure property equity to pursue a profitable investment property deal. For more information, speak to a local real estate professional in your area to learn more about buying and selling residential housing today.

GETTING THROUGH A REAL ESTATE BIDDING WAR

Bidding wars are a scenario where there is interest from two or more people on a particular item and they compete on the offers they make as the one with the highest offer is wins the ownership of the specific issue to which they were fighting for.

Real estate bidding wars thus are the situation competitive offers on real estate merchandise, say a house, to become its new owner.

Currently, the real estate market is one of the most competitive markets in the world and also in history. Houses are on a very high demand which is directly proportional to an increase in price.

 

Despite the increase in this price, they sell like hotcakes.

The high demand, on the other hand, has not only played its role in the price increase but has also brought about bidding and bidding wars.

You thus have to prepare adequately if you want to buy a home to help you cope with contingencies like:

 

• If you need a mortgage, you need to know of the monthly payments, and you need to have documentation that you are approved for a mortgage.
• The amount to be paid on property taxes
• Charges on homeowners insurance
• What the monthly upkeep could be on estimation
• If there is a homeowner’s association
• Condominium Fees

 

These estimations will help you create your price range in which you will fall into and use in the bidding belligerence. In as much as they are estimations, they need to be backed by facts from research you have done.

Once you have come up with this amount, you need to know that this is not the fixed amount you will use. You need to place your bidding price a bit lower than this amount to create flexibility in your bidding.

 

To win the bidding, you need to apply the following strategies to win:

1. Know your worth

After preparing for tender, you should know how much you can afford. You should avoid being driven into emotional buying as you will spend more than you may have or planned for.

Breaking the bank is an all-around poor decision that does not only apply to real estate bidding.

However, you should not let quite a small amount hinder you from buying a home you dream to live in. If you are having a hard time coming up with an amount that is suitable for you, you should enlist the services of a financial adviser or the advice of your lender.

 

2. Try to liquidate your money into cash

This will save the real estate agents the trouble of having to wait for your loan approval or the processing of your mortgage.

Cash is a form of payment that is most reliable to them, and this method has been adopted even in the places where the markets are hot ant the investors in these types of markets use cash almost always.

Moreover, you may find that your lucky stars have been aligned and you experience the rare cases where the sellers have cut the price a little bit so as they could take the cash instead of other forms of money.

 

As for mortgages, there is adequate time to acquire them after the conclusion of the deal.

3. Use a contingency plan if you cannot come up with cash

This should be a credible proof that you can meet the price needs for instance if you are waiting for loan approval.

Your lender could write you up a document to show pre-approval of the loan. However, you need to be sure of the credit as getting into a cash debt would be a terrible idea and you may lose the house of your dreams.

With this providing credibility, your chances of winning the deal are also raised.

 

4. Open communication with the sellers and listing agents.

This is a scheme to help you stand out from the pool of multiple offers. You could voice your interest and wishes here and use effective methods of communication, for instance, a phone call or a letter.

Moreover, some real estate agents have interest as to what will happen to the house, and you can voice out real plans via communicating with them.

 

5. Offer a shorter closing period

This may work to your advantage especially is the sellers are on a short time scale for instance if they have to move within a limited time.

You can make this closing period shorter for example by cutting or ensuring the inspection will take a shorter time for them to get time to move on sooner.

Moreover, loan preapproval and conditional approval from you lenders will also help shorten the closing period.

Another tactic to be able to match the buyers using cash and create a short closing period would be to first undertake in the mortgage process.

This scenario will be tapping into the seller’s motivation, and it will make them happy and forthcoming and eventually, open to your deal.

 

6. Try to lean your offer towards the seller’s side

This can be achieved by cutting on your conditions for the purchase of the house. The lesser the circumstances, the higher your attractiveness as a buyer, will be to the sellers.

This does not mean that you should purchase the house blindly. As a real estate agent you should get the facts on the property including any defects that it may have. Cutting the inspection period will show your satisfaction in the home for example.

 

7. Have a backup thought of the presence of other houses

This will help you to be decisive and especially to learn when you can walk away and drive you to walk away. You have freedom of purchase so you should not be afraid to turn your back on the deal.

There is always a point where you will be tested on your emotions; so yet again don’t buy on feelings which may lead you to breach your budget levels.

If driven by emotions, it will not be quite as much as an investment as it will be an impulsive purchase.

These guidelines will not only help you as a real estate agent to buy a home but also ensure the one you will be comfortable with both financially among your other needs.

Cocoa Beach Living

Life can be stressful, filled with busy days of work, family, and friends. Sometimes every minute of the day is scheduled. A longing for vacation, quiet, and peace can be overwhelming, at times. A great place to decompress and relax is Cocoa Beach in Brevard County, FL. Not only can you relax, but you are close enough to the activities that you can take advantage of that as well.

 

Beach Living

 

Cocoa Beach provides an escape for many people. Being located on a barrier island gives it a special appeal. It boasts beautiful beaches and a relaxing atmosphere. Barrier islands provide a unique experience because the landscape is fluid and constantly changing. Weather affects the sand on the beaches. Storms will strip away the sand on the beaches and push it out, creating sandbars, while waves will push the sand back to the beach.

 

The leisure services of the beach include an aquatic center, golf course, 12 parks, tennis complex, and a recreation center, which includes a gym. There are also several accesses to the wonderful beaches. These access points offer charter fishing, beach rentals, picnic areas, playgrounds, showers, and swimming. They are great places to visit and enjoy the excitement of the beach. Cocoa Beach is considered to be on Florida’s Space Coast. This is because it is close to Cape Canaveral and the Kennedy Space Center. Additionally, it is considered to have some of the best beaches and attracts people from all over. With its close proximity to Orlando, families have access to a wealth of entertainment and fun.

 

Real Estate

 

Cocoa Beach has some beautiful houses for sale. The area boasts sales of condos between $84,000 and $765,000. Furthermore, single family homes can easily go for over $1 million, with a median price between $300,000 and $500,000. At these prices there are tons of properties available to a wide range of people. Additionally, if you are in the market to sell a home, the desirability of the area lends itself to success. However, as with most markets, there is an ebb and flow in sales. Cocoa Beach, because of its location, is susceptible to hurricanes and storms. However, to the locals, this is all part of the normal life. It is a trade-off for the beautiful beaches and relaxation that comes with living there.

 

Home ownership in Cocoa Beach is exciting. You may be surprised to know the condominium market is stronger than the single-family housing market. While sellers are confident they will be able to get a higher price for their single home, buyers are more frequently turning to the condominium market. Buyers are able to find a property with a lower sales price, forcing single family sellers to rethink their pricing. Pricing is determined based on the age & condition of the property, the size & amenities, whether it is furnished, and if it is a beachfront property or has a beach view. These aspects of the property can greatly impact the price someone is willing to pay.

 

So, moving to a tourist location can be fun and exciting. However, you will still be able to find enjoyable community and area activities to partake in. The locals know where to go to find peace and quiet. If you decide to buy a home in the area, you will soon become familiar with the tourist population, how to get around them, and how to make your own wonderful retreat. And, if you get bored of the beach, Orlando and all its activities are close by. Cocoa Beach has a lot to offer and remains one of Florida’s most wonderful beaches.