How Do You Like Your Light?

Time to say goodbye to the bulb that Edison made

Between now and 2014, lighting your home will by law become a more energy efficient endeavor. Standard incandescent bulbs, as per the “Energy Independence and Security Act of 2007,” will no longer be allowed to be manufactured in or imported to the U.S.A, which will change the lighting options available to you.

You can still get (and buy) regular lightbulbs

To be clear — the regulations that passed in 2007 (and that went into effect Sunday, January 1^st) mandate a three-year phase out of the manufacture and import of incandescent bulbs. Buying and selling these bulbs is not against the law. According to the schedule laid out, the 100-watt bulb is the first to go — this year, 2012. In 2013, say goodbye to the 75-watt bulb. And in two years, 60- and 40-watt bulbs will no long be allowed.

Banned, but not enforced—yet.

In a rather peculiar turn of events, however, the government voted to disallow spending any money to enforce the ban on 100-watt incandescent bulbs — at the very earliest until October 1^st, 2012.

In fact, not exactly banned at all

Although there are plenty of posts and articles about the total demise of the incandescent bulb, this is not actually the case at all. What the new rules demand is that incandescent bulbs manufactured or imported into the U.S.A. must conform to new energy standards. A normal 100-watt incandescent bulb draws 100 watts of power to produce the amount of light it does, but uses most of that energy to emit heat. The new rules require that a bulb that throws off the same amount of light only draw a maximum of 72 watts of power.  In April of last year, Philips Lighting launched a new line of incandescent bulbs that meet the new requirements. These bulbs are not as energy efficient as LED or CFL bulbs, but, according to Philips, the light they give off is the same as the light from traditional incandescents.

 

The EcoVantage bulbs are available at Amazon.com, Home Depot and a variety of online and local stores, if you want to see what kind of light they produce.

 

For more information on the Energy Independence and Security Act of 2007 and how it could impact you:

·        New York Times: Almost Time to Change the Bulb

·        The Advertiser: Out with the old-fashioned light bulb

·        The Washington Post: The incandescent light bulb is dead; long live the incandescent light bulb?

What Happened to the Housing Market in 2011

5 events that really had an impact

Time Magazine and AOL Real Estate each have lists of the most significant news in real estate in 2011:

AOL’s #1: “Foreclosure Crisis”

The “emotional and economic distress.” The “drag on a recovery.” The “tighter lending practices.” The robo-signing scandal. The prospect of a settlement that will only result in more foreclosures.

 

Time’s #1: “Robo-Signing Reverberations”

The record average foreclosure processing time of 2011 (631 days) can be directly linked to the speedy foreclosure processing scandal in 2010 — without proper or complete documentation. Many homes are still stalled somewhere mid-process, but when a settlement with the banks is reached, experts expect to see a distinct increase in foreclosure volume in 2012.

Time’s #2: “The Debt Ceiling and the Budget Deficit”

“One idea that both Republicans and Democrats didn’t totally disagree about was reducing the mortgage interest and other tax deductions. If and when that happens, high-income homeowners with mortgages would pay a lot more in taxes.”

AOL’s #3: “Bankrupt Policy”

The very definition of too little, too late — the administration’s multiple attempts to support homeowners in distress (HAMP, HARP, EHLP, or 2MP) all fell flat, failing to reach a substantial percentage of their intended beneficiaries and/or failing to provide substantial assistance.

Time’s #4: “Natural Disasters Cause Insurance Disaster?”

The federal government’s National Flood Insurance Program (NIFP) is still reeling from Katrina, a problem for the housing market that felt the spotlight when Irene struck this year. In a catch-22 of nearly epic proportions, if NFIP goes under, flood insurance goes away, bringing the housing market in flood-prone areas to a dead stop— as you cannot get a mortgage without flood insurance.

 

 

Want to Dress Up Your Kitchen For The New Year?

How a little “magic” can make a big difference

 

 

Remodeling your kitchen can run anywhere from $1,200 for new countertops to $50,000 or more for a complete overhaul and the process can take anywhere from a week to six months or longer.

 

To spruce up your countertops, drawer fronts or appliances with a new look without the big investment (of money or time), however, Carter Oosterhouse has a few suggestions.

Featured in a “10 Minute Kitchen Makeover” segment on the Rachel Ray Show, Oosterhouse touts the ease, affordability and flexibility of adhesive faux finishes. You can get faux stainless steel to apply to your appliances, or even drawers and cabinet doors if you’re going for an industrial look. One sheet, about three feet wide by 26 to 28 inches long, runs about $20.

 

For your countertops, he suggests a faux granite — the sheets are also about three feet by 30 inches, and run about $30 per sheet.

Another stainless steel finish option is stainless steel paint. Thomas’ Kitchen Art offers Refrigerator and Range/Dishwasher kits to refinish your appliances with a paint that contains flecks of real steel. The process is a bit more involved than Oosterhouse’s peel and stick solution — requiring three coats of paint topped with one to three coats of clear urethane. See Consumer Reports’ video review of the paint here.

For the Handyman (or Woman) in Your Home

4 cool gift ideas to make those odd-jobs a little easier

Whether you’re giving to an avid or accidental DIY’er, the experts agree these gifts are sure to please:

1.  Keychain flashlight. Have you ever noticed you never have a flashlight handy when you need one? Often times, a small but powerful light will more than do the trick — like the Arc-AAA LED Flashlight or LD01 Keyring Flashlight by Fenix, reviewed at Reactual.com.
   
2. Tool bag.  Chances are there are one or more tool boxes floating around, but a rugged tool bag with a shoulder strap is lighter, can be carried hands free, and set on most any surface without fear of scratching — like the well reviewed tool bags from Veto Pro Pac, or the Dewalt Tradesman’s Tool Bag, both available at Amazon.
   
3. Laser level and stud finder. Whether your project is big (like adding on a room) or small (like hanging a picture), a level is an indispensable tool. Consumer Reports rated the Black & Decker Projected Crossfire Auto Level Laser a “best buy” (available at Amazon).
   
4. 4Multi Tool. Knives, pliers, wire cutters, scissors, ruler, screwdriver and more — all in one small tool. Popular (and well-reviewed) choices include the Gerber Crucial F.A.S.T. Tool (at GerberGear), the Leatherman New Wave Multitool and (at Amazon) and the Kelvin.23 All In One Tool (at Think Geek).

Deadline Approaching for Home Improvement Tax Credits

If you’re considering eligible projects, now’s the time

In addition to your mortgage interest deduction, your home may entitle you to other tax credits this year, including for certain home improvement projects. The tax credits were extended from last year, but at lower levels — and installation (not simply the purchase) must happen before the end of the year for the expense to be eligible.

Energy-efficient home improvements eligible for the federal tax credits include:

• Exterior windows including skylights and storm windows
• Insulation, exterior doors and roofs, including improvements such as caulking, weather stripping and sealing
• HVAC systemsincluding central air, heat pump, furnace, boiler, water heater or biommass stove

To qualify, windows, doors, insulation and roofs must be expected to last no less than five years (a two-year warranty is required to demonstrate this) and must be installed in (or on) your principal residence.

For more details on Energy Efficient Home Tax Credits, visit The Alliance to Save Energy and Energy Star.

Home improvements made for medical reasons — such as installing entry/exit ramps, modifying hardware on doors, installing railings and support bars in bathrooms, etc. — may also be eligible for tax credits. The “Capital Expenses” section of IRS Publication 502 has more detail.

 

 

 

 

More and More Experts Say Principal Reduction Is the Answer

Why does the head of Fannie Mae and Freddie Mac refuse to consider it?

Last week, a group of Democrats from the House sent a letter to Edward DeMarco (who currently heads up the agency (FHFA) that oversees Fannie Mae and Freddie Mac) asking for a better answer as to why he refuses to implement a principal reduction program at Fannie and Freddie.

The letter cites industry experts, all of whom advocate principal reduction as necessary to bring the housing market and economy out of the dumps, including:

• Chairman of the Fed, Ben Bernanke
• a former Chairman of the Council of Economic Advisers
• a former Vice Chairman of the Fed
• a former Special Inspector General for the Troubled Asset Relief Program

Even Greg Lippman, the former Deutsche Bank AG trader who made a fortune betting against subprime mortgages, has weighed in on the side of mortgage reduction. Now chief investment officer for a New York-based hedge fund, Lippman wrote a letter to investors saying “principal reductions are necessary to help ameliorate the housing crisis.” (For more on Lippman’s perspective and additional expert opinions, read this Bloomberg News article.)

DeMarco claimed in a Nov. 16^th hearing that his agency has “concluded that the use of principal reduction within the context of a loan modification is not going to be the least-cost approach for the taxpayer.” (For a great summary of DeMarco’s exchange with Rep. John Tierney (D-MA), read this post on Fire Dog Lake.)

According to the Democrats behind the letter, DeMarco has too long been spouting “superficial excuses about why principal reduction programs are not feasible at Fannie Mae and Freddie Mac, despite a growing chorus of economists and other experts who believe these programs serve the long-term interests of taxpayers.”

Felix Salmon, an award winning financial journalist, boils the likely real reasoning behind DeMarco’s stance down to the following:

If we [the FHFA]do principal reductions, the accounting conventions finally grow some teeth, and we’re forced to take a write-down. Since we don’t want to recognize reality and take that write-down, we’re simply going to avoid doing principal reductions instead.” (read Salmon’s full post on “Ed DeMarco’s Obstructionism” here)

The Democrats’ letter calls for DeMarco to provide documentation that proves there are statutory provisions preventing FHFA from letting Fannie Mae and Freddie Mac reduce mortgage principal. In addition, they asked DeMarco for an analysis that compares the financial implications of foreclosures with the cost of debt reduction. DeMarco’s deadline to provide these documents is December 9^th. 

My first BLOG!!

OK, here we go….my first post in trying to increase my Social presence.  I don’t even know if that last word is spelled correctly!  My sister was the English major, but I’ll try to do my best each week to post relevant and interesting topics in the field that I love, Real Estate.