The President of the United States has signed a bill into law that will give many home shoppers the extra push they need to get off the fence and into a home of their own. If you are a first-time home buyer, you should definitely investigate the possibilities.
The Housing and Economic Recovery Act of 2008 provides a tax credit of up to $7,500 if you buy a home. A new Web site, www.FederalHousingTaxCredit.com, explains how this important incentive works. Here are the provisions in a nutshell:
• Qualifications. The tax credit is available for first-time home buyers, which under the Act also includes people who have not owned a home for at least three years.
• Income limits. The credit can be as much as $7,500 but is decreased depending on how much money the potential home buyer makes. To receive the full tax credit amount the income limits are $75,000 a year for single tax payers and $150,000 for married taxpayers filing joint returns. For partial credit the upper limit is $95,000 and $170,000 respectively.
• Time limits. To qualify, a home purchase must occur on or after April 9, 2008 and before July 1, 2009. For the purposes of the tax credit, the purchase date is the date when closing occurs – the date when title transfers.
• The way credits work. Qualified home buyers claim the credit when they file their income tax return – no additional application or certification is required. A tax credit is a dollar-for-dollar reduction in what the taxpayer owes. A taxpayer who owes $7,500 in income taxes and who receives a $7,500 tax credit would owe nothing to the IRS.
• Payback. You can look at this tax credit as an interest free loan with up to 15 years to pay it back. For example, a home buyer claiming the full $7,500 credit would repay the loan at a rate of $500 a year. There are exceptions, of course, but all that is explained on the Web site.
Www.federalhousingtaxcredit.com also includes links to the resources you need to help make buying a home easier, including information on the home buying process, financing and new home listings.
Homeownership has always been the cornerstone of the American dream, and it remains the best way for a family to build wealth over the long term. The Housing and Economic Recovery Act of 2008 is also designed to help struggling home owners avoid foreclosure and keep their homes and provide a boost to the housing market and economy overall.
The new legislation combined with current market conditions gives home buyers the opportunity of a lifetime to get into the home of their dreams. Interest rates are still at near-historic lows, and due to the housing downturn, there is a large selection of homes on the market to choose from, and prices are more competitive than they have been in years.
But this opportunity won’t be around forever.
Remember that you need to purchase and settle on your new home before July 1, 2009. As homes currently on the market sell, there won’t be a lot to choose from for the next couple of years. And as fuel and material costs and demand for homes goes up, so will prices.
More than two and half million home owners and home buyers will benefit from Housing and Economic Recovery Act of 2008. To find out if it can help you, visit www.FederalHousingTaxCredit.com today. Learn about home buying opportunities in Colorado Springs by visiting our website at www.campbellhomes.com
Wednesday, October 15, 2008
Top Reasons you shouldn't wait to buy a new home
1. $7,500 FEDERAL TAX CREDIT.
For a limited time only, qualified first-time buyers can receive a tax credit. www.federalhousingtaxcredit.com
2. LOW INTEREST RATES.
Rates remain at near-record lows; you can lock in a payment that fits your budget.
3. UNBEATABLE INVESTMENT.
Even in down markets, over the long term home prices still appreciate more than the stock market.
4. AVAILABLE LOANS.
Lenders are still eager to make loans to borrowers with good credit.
5. GREAT SELECTION.
With so many homes on the market, you can get the features you want!
6. ENERGY EFFICIENCY.
New homes have advanced technology and environmentally-friendly features that can help you save money.
Is it really easy being green?
Is it hard to build green? Is it a lot more expensive? Do you have to live in a straw-bale cottage or some other strange building to say you’re a green home owner? No, no, and most decidedly no!
The National Association of Home Builders’ (NAHB) Model Green Home Building Guidelines are about to celebrate their second birthday. Designed to help bring residential green building into the mainstream, the Guidelines also demystify the process and debunk the myths of green building for consumers – and for home builders.
Using the Guidelines, local home building associations are creating regionally appropriate green building programs for interested builders, and that interest is growing rapidly. Twelve state and local associations have launched voluntary green building programs, with another dozen on the way.
The Guidelines include an easy-to-follow checklist to make sure the builder is incorporating all aspects of green building into each project. That makes it easier to build green – and that’s the beauty of the voluntary Guidelines.
Is it more expensive to build green? Experienced builders say it doesn’t have to be. Guidelines-based programs award points for resource efficiency, and if you’re using fewer materials, you’re saving money, they point out. And some green building ideas – like positioning a home’s windows to best take advantage of natural light – don’t cost any more than conventional building – and save money for the homeowner.
Nor does green building consist of neighborhoods filled with yurts, underground bunkers or geodesic domes. When a house is green but looks like other houses in the neighborhood – and can be replicated by large-scale building companies – then we know green is mainstream. We’re seeing that happen right now.
There are more green building products than ever. Easier to use insulation, chemically neutral paints and flooring and natural landscaping products are no longer difficult to find. Most home-improvement stores carry a full line of compact fluorescent bulbs, which use 70 percent less energy, and advances in solar roof panels and shingles, wind turbines, and efficient appliances make green technology less expensive than even a few years ago.
But there are scattered gray clouds on a mostly green horizon. Efforts to mandate green building are the perfect example of good intentions gone awry. Green building needs to stay voluntary to continue to allow for market innovation and to make sure that the additional money spent to build ‘green’ goes to building improvements, not excessive certification fees. NAHB discourages efforts to dictate and legislate what constitutes acceptable green building practices because the building science in this area is still evolving. We don’t want to see this dynamic process frozen in place.
Homebuyers don’t have to wait that long to learn more about being green: download a free guide at www.nahb.com/greeninnovation – or contact your local home builders association to find a green builder near you [www.cshba.com]. To sign up for NAHB’s free consumer e-newsletter, visit www.nahb.org/housekeys.
Thursday, August 14, 2008
If you haven’t heard now is a fantastic time to buy a new home! The federal government has just made it easier for first time homebuyers to purchase a new home with the Housing and Economic Recovery Act of 2008 which essentially gives an interest free loan of up to $7,500 for qualified first-time homebuyers purchasing a home on or after April 9, 2008 and before July 1, 2009.
Any homebuyer, who has not owned a home in the past 3 years, is an American citizen and files taxes are eligible for the tax credit. Even some non-citizens may be eligible for the credit.
Common consumer questions:
Who is eligible to claim the $7,500 tax credit?
First time home buyers purchasing any kind of home—new or resale—are eligible for the tax credit. To qualify for the tax credit, a home purchase must occur on or after April 9, 2008 and before July 1, 2009. For the purposes of the tax credit, the purchase date is the date when closing occurs.
What is the definition of a first-time home buyer?
The law defines "first-time home buyer" as a buyer who has not owned a principal residence during the three-year period prior to the purchase. For married taxpayers, the law tests homeownership history of both the home buyer and his/her spouse. For example, if you have not owned a home in the past three years but your spouse has owned a principal residence, neither you nor your spouse qualifies for the first-time home buyer tax credit.
What types of homes will qualify for the tax credit?
Any home purchased by an eligible first-time home buyer will qualify for the credit, provided that the home will be used as a principal residence and the buyer has not owned a home in the previous three years. This includes single-family detached homes, attached homes like townhouses, and condominiums.
Does the credit have to be paid back to the government? If so, what are the payback provisions?
Yes, the tax credit must be repaid. Home buyers will be required to repay the credit to the government, without interest, over 15 years or when they sell the house, if there is sufficient capital gain from the sale. For example, a home buyer claiming a $7,500 credit would repay the credit at $500 per year. The home owner does not have to begin making repayments on the credit until two years after the credit is claimed. So if the tax credit is claimed on the 2008 tax return, a $500 payment is not due until the 2010 tax return is filed. If the home owner sold the home, then the remaining credit amount would be due from the profit on the home sale. If there was insufficient profit, then the remaining credit payback would be forgiven.
Why must the money be repaid?
Congress’s intent was to provide as large a financial resource as possible for home buyers in the year that they purchase a home. In addition to helping first-time home buyers, this will maximize the stimulus for the housing market and the economy, will help stabilize home prices, and will increase home sales. The repayment requirement reduces the effect on the Federal Treasury and assumes that home buyers will benefit from stabilized and, eventually, increasing future housing prices.
Because the money must be repaid, isn’t the first-time home buyer program really a zero-interest loan rather than a traditional tax credit?
Yes. Because the tax credit must be repaid, it operates like a zero-interest loan. Assuming an interest rate of 7%, that means the home owner saves up to $4,200 in interest payments over the 15-year repayment period. Compared to $7,500 financed through a 30-year mortgage with a 7% interest rate, the home buyer tax credit saves home buyers over $8,100 in interest payments. The program is called a tax credit because it operates through the tax code and is administered by the IRS. Also like a tax credit, it provides a reduction in tax liability in the year it is claimed.
For more information about this program visit www.federalhousingtaxcredit.com
Wednesday, July 30, 2008
Best Cities to Live, Work and Play
Best Cities to Live, Work and Play
These ten great places will only get better.
From Kiplinger's Personal Finance magazine, July 2008
No. 1: Houston,Texas
No. 2: Raleigh, N.C.
No. 3: Omaha, Neb.
No. 4: Boise, Idaho
No. 5: Colorado Springs, Colo.
No. 6: Austin, Texas
No. 7: Fayetteville, Ark.
No. 8: Sacramento, Calif.
No. 9: Des Moines, Iowa
No. 10: Provo, Utah
Read Whole Article
Wednesday, June 11, 2008
Interview with a top Realtor in Colorado Springs
There is a lot of negative media out there that talks about how bad the real estate market is. Is it as bad as they are saying?
The market is not bad at all. If someone on your weather channel told you it was going to be cold and rainy all across the USA today would you believe them? Of course not. It is the same for our economic situation. You cannot talk about the whole country. We are huge and different areas of the country have been affected differently than from other areas. We have been very blessed here in Colorado. We have had a slight correction to the market of approximately 3-5% depending on what area of town you are in. My little company of 40 agents sold over 30 million dollars in homes in the month of May. Does that sound like a bad market? I don’t think so.
What are the advantages of buying a home in a “buyers market” like we are seeing now?
It is a wonderful time to buy. There is a bountiful selection of homes both resell and new to choose from. Interest rates are staying right around 6% or less. This is an amazing interest rate. Sellers and Builders both are being creative and giving some wonderful incentives. I would encourage anyone, that this is a perfect time to take that step forward.
BJ you have a long history working in Real Estate. In your experience how long does a down market last and when do you think we will see a shift in the current real estate market?
We have down markets just about every 7 years. It usually takes over a year to reach its lowest level but bounces back quite quickly. This is what I see happening right now. The market is turning and going back up and FAST.
What is one of the number one things you see/hear families are looking for when buying a new or resale home?
What most families are looking for in a new home is a good location with good schools and a livable floor plan. Most of the families I work with are wanting more open floor plans, lots of windows for light, and a decent size yard but not too big. With the cost of watering and taking care of big yards, they are more of a disadvantage. Most families would prefer to live close to a park or community open space for the kids to throw the ball around.
What are some of the advantages of using a professional real estate agent like yourself?
Using a real estate agent is smart. It does not cost the buyer one extra penny to use an agent. The builder or seller pays for the buyer to have one. It is wonderful to have someone look out for your best interest. It is especially good to have one that has many years of experience and knows what to look out for. Buying a home is the biggest #1 investment you will make in your life. You need someone experienced and someone knowledgeable to help you with that important decision.
Are there any other insights you would like to add about the current real estate market or about buyer’s attitudes today?
Don’t believe everything you read or hear in the media. Unfortunately “bad” news sells and good news doesn’t. Would someone please explain that one to me? The last thing I would like to say is, we live in one of the most beautiful places in the entire world. Why not own a piece of it. You will never regret it.
BJ Burns has been practicing real estate in the Pikes Peak region for over 23 years. Through her dedication to serving her families BJ has built a reputation of integrity. BJ currently offices with The Platinum Group of Realtors. For more information about BJ Burns please visit her online at www.bjburnsteam.com or you can contact her at 719.536.4301.
Tuesday, May 27, 2008
The Rule of 72
I have heard a lot of talk about when is the best time buy a home. Is it now while the market is a buyer’s market or should one wait because prices may go down even more? I would like to address this issue with the law of 72. Created by Albert Einstein, the Rule of 72 is a mathematical shortcut used to determine how long it will take for an investment to double. This rule is widely used in Real Estate to determine when the value of homes will double in the market. I will be using this rule to highlight why now is the best time to invest in a home rather than later.
The formula is:
Years to double = 72/ interest rate
Although for the purpose of calculating real estate we will use appreciation rate rather than interest rate.
The average appreciation rate in Colorado Springs: 5.8%
Years to double = 72/5.8
Years to double = 12 years (rounded)
Therefore:
The median prices of new homes in Colorado Springs:
Now (2008): $264,995
In 12 years (2020): $529,990!!
This is a substantial increase in median home prices. The obvious choice would be to invest in real estate now while prices are still low. Still not convinced that the law of 72 holds true? Let’s take a look at some historical data:
In April 1996, 12 years ago, the median price of a home in the United States of America was $140,000. This past April (2008) the median price of a home in the United States of America was $246,100. that is an increase of $106,100 also seen as a 5.6% appreciation rate.
Historical trends have always shown the real estate market increasing in price. Despite many people over the years stating that real estate being a bad investment, it would seem that real estate is not only a great investment but NOW is a better time to buy than tomorrow because prices have historically gone up AND mathematically been predicted to go up.
For more information about the Rule of 72, Real Estate in Colorado Springs, or Campbell Homes new homes being built in Colorado Springs and the Pikes Peak region feel free to contact me at knoble@campbellhomes.com.
Wednesday, May 14, 2008
The Truth is Out About the Housing Market!
The media has been reporting for sometime that the housing market is bad and that now is not a good time to buy a new home. I beg to differ. With interest rates at an all time low and the supply of new homes starting to decline it’s only a matter of time when supply and demand take effect and prices will start to climb again. It’s a known fact that when demand is high and supply is low prices rise. Therefore NOW is the best time to purchase a new home since prices are reasonable and stable, and there is still enough supply of homes to suffice for the demand that we are starting to see. The following is a fantastic article from REALTY TIMES covering this very topic.
Columnist: 'Media Is Wrong About Housing Slump'
Realty Times feature article by Blanche Evans
Why buy a house now? You've been getting bad information. Here's why.
The financial press is worried that they might have gone too far - paralyzing the nation into recession by piling on housing. So they're finally beginning to question the indexes where they get their data, and whether the news is really as bad as it seems. Slowly but surely, headlines are changing from Don't Buy a Home Now to Is It Time To Buy?
We said it here first on Realty Times - that consumers aren't getting the full story. Indexes can be misleading because of the locations, prices, types of housing, and rates of increase they track.
In late April, Robert Shiller, founder of the Case-Shiller Index, announced that there was a good chance housing prices would fall further than the 30 percent drop during the Great Depression.
Shiller has plenty of reason to be negative - he makes money when people buy housing hedge funds, licensed with data obtained through his company Macromarkets LLC.
Now, finally, one brave journalist is writing that Case-Shiller is flawed.
In his story "Home-price data has its flaws," Chris Plummer of MarketWatch slammed both Shiller's Index and the Associated Press for being "grim reapers."
For the first time, S&P Index Committee Chairman David Blitzer "acknowledged his organization's overall and metro-market readings paint an incomplete picture."
No kidding. The index covers only 20 markets, heavily weighted to the most volatile metros in the nation.
Plummer also lampooned the AP for writing that "despite that index's limited seven-year history, home prices plunged by a record percentage at their fastest rate ever."
He also notes, "The glaring discrepancy in this case is that 17 of the 20 metro areas posted record annual declines, and yet 78 percent of the 330 metropolitan regions that the NAR tracks reported price increases ... "
Bravo, Plummer. But the rest of the financial press still has a long way to go.
When Shiller says home prices are going to fall 30 percent, not one reporter who covered the story asked this simple follow-up question: "Bob, during the worst part of the Great Depression, one in four people were out of work. Our unemployment rate is a little over 5 percent. So what's going to drive home prices that low?"
Instead, no one did even the minimum Wikipedia search to find out what conditions were really like 75 years ago.
What that means is not only are the indexes misleading - the reporting is worse.
Right now we have mortgage interest rates three points below historical norms. We have housing inventories five months greater than balanced markets. Combine that with unemployment that is a half percent lower than the recession of 2003, and you have excellent homebuying conditions.
Stop listening to the media. Go buy a home.
Copyright © 2008 RE/MAX International Inc. 5/6/08
Thursday, April 24, 2008
Buying a New Home In Today's Market
There are many steps you need to take when buying a home but many Americans fail to realize that homeownership is actually more attainable then they might thing.
Top 5 steps of buying a new home.
Figure out how much you can afford.
When if come to buying a home it’s not a guessing game it’s a numbers game. How much you can afford is based on income, credit, currently expenses and the interest rate. Most people use a online mortgage calculator to figure this out but those numbers really do not drive into the issues of credit, expenses, income, or what mortgage plan you will qualify for. The best way to figure this out is by talking to a mortgage professional. If you are in Colorado Springs or plan on buying a new or used home in Colorado Springs I would recommend you call Donnie at Peoples mortgage.
Examine your needs
You really need to think about what you need in a new home or new neighborhood. If you are retiring and this is the last home you will live in then you might want to consider a ranch floorplan. If you have school aged children then researching the schools and looking into neighborhood parks and recreation might be important. Knowing your priorities before you shop will make it a lot easier to narrow down your search for a new home.
Decide on if you want to uses a REALTOR on go it alone.
If you are new to a town or think you will be wanting to look at ALL your options, a REALTOR is a great friend to have. Real Estate Agents know the areas inside and out. They know prices, neighborhoods, schools and usually are great at matching families up with communites that just fit. But be aware that not all REALTORS are made for your needs so makes sure you pick one you are comfortable with, and that represents you well before you sign any agreements. If you are buying a new home in Colorado Springs I would be happy to point you in the direction of some of the BEST Real Estate Agents in town.
Shop
Now for the fun part! Shopping for a new home can me tons of fun but if you don’t have an idea of what you are looking for before you start you can get burned out pretty quickly. Will you buy new or used? What side of town, what time of floorplan? It can be taxing but again if you do your homework before hand you could find your perfect match in a few days. In Colorado Springs there are several homebuilders and even more resale homes so have a game plan and get out there and have fun!! Oh most new home builders offer cookies in their models (just a hint). Feel free to read my blog about the advantages of buying new.
Buy
Okay it might not be all that simple but when you find that home that fits most of your wants and all of your must haves then you need to make an offer and sign the paperwork which will put you in the fast lane to ownership! YEA! You are almost done and yet the steps that follow the purchase agreement are the most stressful sometimes because you have to do a lot with mortgage people and paperwork. But I promise when its all said and done you will be so happy you got through it all because there is nothing better than sitting down in your new house and knowing this is all yours!!
Tuesday, April 8, 2008
House Huggers!
Keeping with my recent theme of built green I would like to show you how Campbell Homes has done their part in helping the environment by building Energy Star and Built Green Colorado Homes. Last year (2007) Campbell Homes built 53 homes all of which were certified by Energy Star! This is equivalent to:
· Eliminating the emissions from 37.10 vehicles
· Saving 20,352 lbs of coal
· Planting 5.30 acres of trees
· Saving homeowners $23,691 on their utility bills
Because of their contribution to helping build better energy efficient and environmentally friendly homes Campbell Homes was recently awarded the
ENERGY STAR for Homes Leadership in Housing Award!
Campbell Homes is proud to be a house hugger!
For more information about how you can become a Campbell Homes’ House Hugger visit us online at www.campbellhomes.com or call Kelly Noble at 719-266-9780 or email her at knoble@campbellhomes.com
below is a fantastic article about green building that I found in Newsweek:
http://www.newsweek.com/id/120128
Not Just for Tree Huggers
Despite the free fall in housing prices nationwide, green homes are still red hot.
Daniel McGinn
NEWSWEEK
Updated: 12:35 PM ET Mar 8, 2008
Rob Moody didn't set out to be a builder. After graduating from college with a biology major, he began work as an environmental-science teacher in Asheville, N.C. On weekends, though, he spent long hours fixing up the classic shingle-style home his family had owned for nearly a century. Then, after seven years in cinder-block classrooms, he decided to make a change. "My love for old houses fell together with my love for the environment," says Moody, 34, who launched The EcoBuilders to construct environmentally friendly houses. Today Moody's foremen drive pickup trucks that run on used grease from fast-food fryers. And whether he's building new homes or renovating old ones, he insulates them to the hilt, uses sustainable materials and recycles so much debris that he requires only the smallest Dumpsters. Clients love the approach. "We doubled production last year, and we'll probably double again this year," Moody says.
The predominant color in the building industry right now is red, not green. America's housing markets remain in free fall, as the foreclosure crisis continues and more homeowners discover their mortgage debt exceeds the value of their house. Last year the average home builder laid off a quarter of its employees; this year the industry estimates it will sell just 632,000 new homes, its lowest total since 1992. But amid this gloom, there's buzz about consumers' shifting demand toward "green homes"—and how builders with this expertise remain busy despite the bust. In a 2007 survey by the National Association of Home Builders, home buyers said they'd be willing to spend an additional $8,964 on a home if it could cut their utility bills. Throughout the industry, there's a sense that consumers have finally reached a tipping point. "It's taken almost as a fait accompli, that green building is where the market is headed," says Michelle Moore, senior vice president at the U.S. Green Building Council.
For all the professed consumer interest, though, the average home buyer knows little about green building. That's partly because it's a broad concept with several components. The most obvious attribute is energy efficiency. For some buyers, that means investing big money in fancy geothermal or solar technologies—but more often it simply means being diligent about using good insulation, efficient appliances, superior windows and designing the house to take advantage of the sun. Green houses also conserve water, often by using specialized plumbing fixtures. For some builders, going green also means limiting waste, sometimes by using "panelized," factory-built walls or recycling wood from older homes. Inside, green homes often feature sustainable materials, like countertops made from recycled glass.
For a public tired of stories about the latest health scare, green homes have another allure: they're often healthier. Since these homes are built more tightly than drafty older homes, many builders install systems to bring in—and filter—fresh air. Green builders typically use paints that are low in volatile organic compounds, and avoid the carpeting, adhesives and varnishes that often give new homes their distinctive smell—and that have been associated with health problems. When George and Dorrie Sieburg hired Moody to remodel their Asheville bungalow in 2005, this approach was a big selling point. "At the time, we were pregnant, and we wanted to build as green as we could to make sure it was safe for our child," says George, whose wife is expecting again.
As with many innovations, some of the biggest gains in efficiency come from using old-school materials that have been slow to catch on. Consider spray-on foam insulation, which fills and seals wall cavities better than the fiber glass used in most residential construction—but at twice the cost. As energy costs rise, however, more buyers are opting for it: sales of Icynene, the leading brand, grew 22 percent annually the past three years. When Jacob and Alecia Sessums added a master suite to their Asheville home, they opted for foam insulation, a multizone heating system and a superefficient tankless hot-water heater. As a result, their gas bill dropped from a high of $400 a month to $37. Says Alecia, 32: "For people in my generation, [going green] is the way you have to do it—there's not a choice."
For darker shades of green, homeowners typically take more-radical action. In Grapevine, Texas, the home Ross and Tami Bannister moved into last fall is so tight, "it's built kind of like an ice chest," says Ross, who marvels at how infrequently the heat kicks on even on the coldest days. While their house is filled with sustainable products, its most innovative functions involve water. Out back lies a 10,000-gallon tank that collects rainwater from their roof; the water is filtered and routed inside for household use. On the roof, solar panels heat their water. Ross says people are sometimes surprised to hear about the home's advanced technology, since it's hidden beneath the bones of a classic Texas farmhouse. "It wasn't like we built some sort of George Jetson-looking future house," Ross says. That's partly why their custom builder, Chris Miles of GreenCraft Builders, fields five calls a week from prospective buyers.
The biggest energy-savers can still require big investments. A photovoltaic solar system, which generates a home's electricity from the sun, can cost $40,000. Likewise, a geothermal system—which uses pipes to send water underground, where the heat stored by the earth's subsurface is converted into energy to heat and cool the home—has long been a budget buster. But as energy costs rise, the return on investment does, too. Last fall, when Shirey Contracting remodeled Sean and Lynn Dillon's home in North Bend, Wash., the couple spent $34,000 on a geothermal system. That's more than twice the cost of an ordinary heating and cooling system, but Sean figures it will pay for itself in six years. Along the way, they'll feel good about reducing their carbon footprint.
Builders are working hard to educate consumers about why such expenses can be worthwhile—and why a lot of green innovations can be done for relatively little money. New kinds of certifications will also help consumers understand the paybacks. In December, the U.S. Green Building Council began offering LEED certification (it stands for Leadership in Energy and Environmental Design) for homes; last month the National Association of Home Builders announced plans for its own green certification. Both use point systems that tally up a new home's earth-friendly attributes and award different levels of certification. In theory, a certified home will be easier to resell down the line, but green-building advocates also hope that the new yardsticks will make consumers pay more attention, the same way Consumer Reports and J.D. Power and Associates rankings became big influences on car shoppers a generation ago. Says home-building consultant Sara Lamia: "People will see how the house they're living in is costing them money, and it gives consumers a reason to buy a new home."
At times such chatter about how a shift toward green building might lift this moribund industry sounds like so much wishful thinking. So far most of the biggest builders are experimenting with only the most basic green innovations (like using Energy Star appliances); most of the greenest builders do only a tiny number of custom homes. "The smaller you are, the more your numbers might mislead you to thinking this is what matters," says Ivy Zelman, an industry researcher. Some environmentalists apparently believe builders are putting green labels on homes that aren't really environmentally friendly—an attitude that appears to have motivated arsonists who torched a neighborhood of newly built trophy homes outside Seattle last week, leaving signs saying BUILT GREEN? NOPE BLACK!
It's also apparent that some green innovations are used side by side with products that aren't so earth-friendly. At the International Builders Show in Orlando last month, the plumbing company Kohler showed off ecominded low-flow shower heads and bathroom faucets—but across its booth, it also displayed gigantic water-hogging showers and whirlpool tubs nearly large enough to hold residents of Sea World. Likewise, if you build a green home in the exurbs but still drive an hour to work, has your carbon footprint really decreased? These are questions Danielle and John Arnett have considered. Next month they'll break ground on a 4,600-square-foot home in Colleyville, Texas. They hope to include loads of green technologies—perhaps even solar panels and a wind turbine—but they're still building a house that's nearly twice the size of the average newly built U.S. home. They admit a smaller house would be greener, but in their neighborhood, where nearby homes range from 6,500 to 12,000 square feet, they say their new house will be downright cozy. "It sounds crazy … but it's really, really relative," says Danielle, who notes they reduced bedroom sizes in an attempt to downsize the design.
If there is a downside to this trend, it may be the growing number of green homeowners who'll brag about low utility bills the way golfers boast of low golf scores. But for builder Rob Moody, whatever motivates people to desire better-built homes, he's not complaining. "People know it's good for their pocketbook, they know it's good for the environment, and they like the badge," says Moody, who was in New Orleans last week working with ABC's "Extreme Makeover: Home Edition" on an earth-friendly project. Green homes may not spark the building industry's recovery, but in a world whose energy problems aren't going away, they certainly can't hurt.
URL: http://www.newsweek.com/id/120128
© 2008
Wednesday, March 26, 2008
Home builders going 'green'
This is an article I found online at http://www.kvue.com/news/state/stories/032608kvuebuildgreen-cb.bb053c.html#
Please enjoy!
Home builders going 'green'
10:39 AM CDT on Wednesday, March 26, 2008
By JEFF BRADY / WFAA-TV
DALLAS — According to a recent survey by the National Association of Homebuilders, buyers said they would pay an additional $8,900 for a certified "green" home.
But are "green" homes really selling better? We found it depends on the builder, the buyer and the neighborhood.
Better insulation is one factor that makes a "green" house "green." In one house we found, recycled newspaper does the job.
Elizabeth Newman has been building homes in Dallas for 18 years. Just last year, she went all "green."
"Before I started building 'green,' I had people asking about building green," Newman said.
So what does it take to get a "Green Built" label in North Texas? Upgrades in waste reduction (or saving trees), water efficiency, indoor air quality, energy efficiency, using recycled materials, and educating the homeowner are all factors.
The downside? Prices on "green" homes are $10,000 to $28,000 more than similar models.
One we found is priced at about $750,000. Newman sold it the same day we were visiting . But some Dallas Realtors aren't yet seeing homebuyers clamor for energy efficient models.
"I just don't have a customer base that is demanding that they want a 'green' home. Nor will they pay any more for it," said Realtor Tom Rhodes. "They'd much rather have high tech homes with all the wireless, and studies, and that kind of thing."
Still, other agents say certain neighborhoods and buyers expect it. The more custom-built the home, the more likely the buyer is to expect a shade of "green."
"They will reap the benefits from the electric bill, the tankless water heater, xeroscape, that kind of stuff," Realtor Margaret O'Brien said. "So I really think that even though the price point might be a little more, you could definitely sell it — and I think there's a market for it."
The Green Built certification is so new that there are no numbers available to indicate how many are being built. The more familiar Energy Sar rating is the next best thing, and about 40 percent of all new homes in Texas last year earned that rating.
E-mail jbrady@wfaa.com
Saturday, March 22, 2008
The dream of owning a home…
When I was a little girl I was known as a BIG time dreamer. I could make up all kinds of fantasies of princes and princesses in my mind. As I got older my dreams didn’t fade they just became goals. At the age of 13 I set several goals for myself and I was far to strong minded to not get what I wanted out of life….don’t kiss a boy until I was 16 (Check, on my birthday), get good grades in High School (Check), go to college (check), Travel (looking at 10 countries and counting now, Check) and even finding a career I truly loved (finally, check!)…but it was not until I entered the home building industry as a New Home Consultant for a National Builder did I realize the value of owning a home, and let me tell you I HAD to have my own home!
At first people told me it would be impossible because I was only 25 at the time, single, and just started off my career from college. But being the big dreamer that I was I not only convinced everyone I could do it and got them all on board but in May 2006 I signed the papers that would make me the owner of my very own 4 bedroom 3.5 bathroom home!
The reason I tell you this story is that anyone who has the dream of owning a home can own a home all they need is some support and a path to get them to their goal. You might not be able to buy your home the very day you decide you want one, but if you put your mind to it and work hard to build your credit, save a little money, and talk to the right people to help you do these things, you to can own your own home.
Home ownership is part of the American dream. It’s a status symbol of “making it”. But keep in mind that your first home is not always your “dream home”. My first home is not my dream home but it met my needs and because I invested smart and researched the right builder option for me I was able to find a home that not only met my needs but when I go to sell this home I will be able to transfer the equity I made to the next home which will be a little bit better then the one I have now.
Statistics show that in a lifetime the average person will own 4-6 homes and not until their 4th home will it be considered their “dream home”. I might have a few houses to go before I reach dream status but at least I have the goal in mind to reach my “dream home”.
Have you been dreaming of home ownership and don’t know where to start? There are several steps to take before looking into purchasing a home…
First of all check your credit. Borrowers who have a credit score over 700 are usually offered more financing options and a better rate but do not let a lower than 700 credit score detour you. I have seen people with credit scores in the 500s purchase homes. The idea is you need to prove that you have credit, you pay your bills on time, and how long you have had your credit. A mortgage advisor or Realtor can also help to discuss your credit options with you when it comes to buying a home. In fact most mortgage companies will pull your credit for a small fee and also can do a free prequalification.
The next thing you should do is find a Realtor. Realtors are experts in the business of helping people find homes. Just make sure your agent has your best interest in mind. If you happen to be looking for homes in Colorado Springs I have a whole lot of contacts I can give you. Meet with a couple of agents and DO NOT SIGN ANYTHING until you have decided that is the agent for you then you will sign an agreement stating that this person is your representative. Also you should know that as a buyer you do not have to pay for your Realtor but the seller will. So its basically free help for to you find what you are looking for. When I purchased my home I used BJ BURNS who was amazing in meeting my needs. Now you don't NEED a realtor to buy a home but its always helpful to have an expert on your side.
The third thing would be for you to BE REALISTIC. Again your first home is not your dream home; it’s just the home that meets your needs. It takes time to get to the “dream home" status, but that does not mean you don’t have to like where you will be living just know you can’t have it all on the first run…
There are several steps to home ownership but the important thing is you have the goal and the dream in mind. If you happen to be looking for a home in Colorado Springs, CO or if you have some general questions about home ownership please feel free to contact me and I would be more than happy to help you make your dream a reality!
And as always Campbell Homes has been making the dream of homeownership since 1965 so I always encourage you check us out at http://www.campbellhomes.com/
Wednesday, March 19, 2008
The Importance of Testimonials
Testimonials are an important part of any good business. When a company says they have a highly developed customer service program they will be able to prove it with a plethora of strong testimonials. A sales person can tell you all day long that their company is the best and offers the best product but unless they can back that up what’s the point in even listening? The best way to know if a company is going to take care of you is to see how they have treated their current and past customers.
Below are some of the testimonials Campbell Homes’ customers have been sending us over the years. We are proud to have the kind of reputation that can be backed by our homeowners and Realtor partners.
Testimonials:
As I write this note the October blizzard of 2006 is raging outside my home. Unlike most testimonies you receive my home was one of the very first you built in Briargate, back in 1982. I want you to know, after 24 years my home is as tight and strong as the day it was built. The wind outside is 50 mph but I can’t tell because the walls and windows of my home are so strong. I still have the original windows and they give me much lower power bills then most folks know. I live at the top of Briargate hill and have a two story home. I can’t hear the wind today. Thank you SO much for building a home so sound and secure.
-Pam S.
“When you grow up the son of contractor, like I did, you inherit an eye for craftsmanship. So when I saw the building materials that went into Campbell Homes, I knew this is where we wanted to be. Campbell Homes uses all the right name brands, and backs up their work with old fashioned attention to detail. What more could you ask for?”
–Scott Farrell
US Army - 21 years
“Sometimes you have to brave the cold to find a home that warms your heart. I know. I spent weeks looking at houses this winter, but I didn’t fall in love until I found Campbell Homes. Campbell Homes did so many things right, I was ready to move in while my home was still under construction! That’s how comfortable they made me feel.”
–Cavalene Regan
“A while back, we downsized to a townhome. But when room started getting scarce, we thought, ‘Hey, time to look into something a little more livable.’ Campbell Homes impressed us not only with their floorplans and craftsmanship, but their ethics. They showed us the kind of commitment they’re known for in this community, and we appreciated it.”
–Scott Vaughn
Realtor and Entertainer with
The Colorado Wranglers
“This is the first home I ever bought. So it was scary, as well as exciting.
Looking back, all I can say is, I not only picked a dream home, but a dream builder. Campbell Homes treated me like royalty—answering my questions, and walking me through ever step of the process—from start to finish.”
–Amy Tran
For more testimonials or more information about Campbell Homes please contact our Internet Concierge, Kelly Noble, at knoble@campbellhomes.com.
Thursday, March 13, 2008
Energy Star Rated Homes are Better
What is Energy Star? The Environmental Protection Agency (EPA) set up the Energy Star guidelines to make new homes at least 15% more efficient than homes built to the specific Energy Conservation Code (ECC) for the corresponding year the home is built. Within the program Energy Star identifies over 40 products that meet and exceed these qualifications in areas such as climate appropriate insulation, high performance windows, efficient heating and cooling systems, plumbing and lighting fixtures and appliances.
More than 7,000 organizations and manufacturers, including over 2,500 homebuilders across the nation, have formed a partnership committed to the efficient use of resources to create a more comfortable and healthier living environment inside and outside the home.
Campbell Homes in Colorado Springs takes great pride in being not only an Energy Star certified builder but being one of only 4 builders in Colorado Springs that is 100% Energy Star tested. EVERY new Campbell Home is tested by an independent inspector.
Did you know that Energy Star only required builders to test 15% of their homes to become an Energy Star builder? This basically means when you buy from a builder that is not 100% Energy Star tested you are playing the Energy Star lottery because you never know if your new home is actually Energy Star rated. So, as you are shopping around for a new home please make sure to ask not only is the builder an Energy Star builder but also is your particular home Energy Star tested. They should be able to show you the sticker or certificate that will usually be located in your power box.
Below I have highlighted some of the reasons Campbell Homes makes your home better with Energy Star…
6 Ways Energy Star Makes Your Campbell Home Even Better...
1. Effective Insulation
Properly installed and inspected insulation in floors, walls, and attics ensures even temperatures throughout the house, reduced energy use, and increased comfort.
2. High-Performance Windows
Energy-efficient windows employ advanced technologies, such as protective coatings and improved frames, to help keep heat in during winter and out during summer.
3. Tight Construction and Ducts
Sealing holes and cracks in the home's "envelope" and in heating and cooling duct systems helps reduce drafts, moisture, dust, pollen, and noise. A tightly sealed home improves comfort and indoor air quality while reducing utility and maintenance.
4. Efficient Heating and Cooling Equipment
In addition to using less energy to operate, energy-efficient heating and cooling systems can be quieter, reduce indoor humidity, and improve the overall comfort of the home.
5. Efficient Products
Your Campbell Home will be equipped with ENERGY STAR qualified products — lighting fixtures, compact fluorescent bulbs, ventilation fans, and appliances, such as rnage, dishwashers, and microwaves.
6. Third-Party Verification
Third-party raters conduct onsite testing and inspections to verify the energy efficiency measures, as well as insulation, air tightness, and duct sealing details. A homebuilder has to have 15% of their homes tested by an independent inspector in order to qualify as an ENERGY STAR builder. This however does not guarantee that your home will be ENERGY STAR rated. But Campbell Homes has 100% of their homes tested so you can rest assured that your home, no matter which home you choose, will be an ENERGY STAR home.
Visit http://www.energystar.gov/ for more information on the Energy Star Program or you can always visit Campbell Homes' online community at http://www.campbellhomes.com/
Wednesday, March 12, 2008
It Is Easy Being Green with Campbell Homes
Built Green Colorado:
Built Green™ is an industry program that promotes an environmentally friendly approach to construction by setting standards for better energy efficiency, healthier indoor air quality and minimum use of resources to lower the overall environmental impact and increase the comfort within your home. Campbell Homes has set minimum construction specifications that actually exceed Built Green™ requirements. Here’s what you can expect in your new Campbell Home.
- Energy Efficiency and Environmental Sensitivity
- Moisture Control – Campbell’s exterior house wrap, 3/8” OSB sheathing, drainage plane and 5’ downspout extensions minimize the effects of moisture damage.
- Air Infiltration – a foam sealant around windows, doors, top and bottom plates and all wall penetrations such as electrical outlets helps maintain the thermal insulation R-values and keeps pollutants out.
- Low maintenance vinyl windows with Low-E glass not only save energy but protect the interior from UV damage.
- External sealed combustion gas-log fireplaces prevent heat loss typically associated with flue and damper systems; and keeps contaminants from entering indoor living spaces.
- Sealed combustion 92 percent efficient direct vent gas furnace uses 100 percent of outdoor air for combustion. This increases the life of the furnace, promotes cleaner air and minimizes heat loss associated by re-circulation.
- Energy Star programmable thermostat with dual setback can be programmed to save 10 to 12 percent in energy usage and costs.
- Low flush toilets and water saving faucets and showerheads
- Because of the variety of soils conditions in the area, every Campbell Home foundation is engineered for specific site conditions.
- Low VOC content (Volatile Organic Compound) in interior paint results in better indoor air quality and an easy-to-clean surface.
How does this benefit you?
-Cost savings
-Improved resale
-Greater comfort
-Quieter
-Improved Indoor Air Quality
-Less maintenance
For more information on the Built Green Colorado Program go to www.builtgreen.org
For more information about Campbell Homes in Colorado Springs, CO please visit us at www.campbellhomes.com
Sphere: Related ContentWhy Buy New
Campbell Homes, a local homebuilder in Colorado Springs since 1965, is one of the best examples of a homebuilder that builds a healthy and more eco friendly home. For example
One of Campbell Homes’ homeowners found that when they moved from a 1,400 square foot town-home to a 3,966 square foot Campbell Home he was only paying $15 more per month in utilities.
Actually according to Mountain View Electric, who supplies electricity to Falcon Colorado, Meridian Ranch, and surrounding areas, the average home spends $3.50 per day on electricity where Campbell Homes’ homeowners only spend $1.78 per day.
A new home has so many advantages over used homes, which is why I have included the following list to help explain the top 10 reasons to buy a new home over a used home...
10 Reasons to Buy a New Home
For Further information on Campbell Homes or Energy Efficient building please visit me at my Online Community at www.campbellhomes.com.
