The U.S. Department of Energy’s Office of Energy Efficiency and Renewable Energy is a source of information on financial assistance for the purchase of renewable energy equipment and energy-efficient appliances.

Click HERE or Found at:

http://www1.eere.energy.gov/financing/index.html

Energy Star’s website lists credits you can obtain:

Click HERE or Found at:

http://www.energystar.gov/index.cfm?c=tax_credits.tx_index

ENERGY STAR is a voluntary labeling program brought about by the partnership of the US Environmental Protection Agency (EPA) and the US Department of Energy. The program is designed to identify and promote energy-efficient products to reduce greenhouse gas emissions. The ENERGY STAR label is now on major appliances, office equipment, lighting, home electronics, and more. EPA has also extended the label to cover new homes and commercial and industrial buildings.

Results are already adding up. Americans, with the help of ENERGY STAR, saved enough energy in 2010 alone to avoid greenhouse gas emissions equivalent to those from 33 million cars — all while saving nearly $18 billion on their utility bills.

Click HERE to be re-directed to Energy Star’s website

http://www.energystar.gov/index.cfm?c=about.ab_history

• Regulating the temperature of your thermostat: Lower the temperature when you are not at home and/or at night
o Better yet, buy an energy-efficient programmable thermostat to program it to automatically shut down heating or air conditioning when you leave the house and to turn it back on 20-30 minutes before you return.
o Program the thermostat so you reduce the temperature 30-60 minutes after you normally go to bed since you don’t need as much heating under the bed covers
o For every degree you lower your thermostat, you can save approximately 3 percent on your heating bill. Generally, lowering your thermostat by five degrees will make an impact on your energy bill.

Kitchen—

• Refrigerator: In a typical house, the fridge is the single biggest energy-consuming appliance in the whole house, using up to 25 percent of the energy in most homes.
o Leaks in door seals and using the anti-sweat setting on the fridge will use more energy
• Anti-Sweat Heater: Used to prevent condensation and frost, but is not needed in CA’s climate
o Make sure air can circulate around the condenser coils
o Once or twice a year, unplug the fridge and clean the coils, which are either on the back or front, behind a kick plate. You can just use warm, soapy water if they’re greasy or grimy.
o Cleaning the coils enables the fridge to work more efficiently
o Chest freezers use 9-22% less energy than upright models since they allow less air in through the door. Side by side fridges are the least efficient
o If your fridge is more than 15 years old, buy an Energy Star one, since it’s probably wasting more energy than it’s using.
o When designing a kitchen, keep fridge away from stove or dishwasher and out of direct sunlight and other heat sources
o Remove rarely used extra fridges. If a second fridge is used occasionally, empty and unplug the refrigerator (leaving the door slightly open to prevent mold) until it’s being used

• Water Heater: The water heater is the second most largest energy user in most homes.
o A water heater purchased before 1994 is probably no longer cost effective. Modern water heaters are more efficient and provide better insulation, so replacing it can dramatically help you save money.
o If your water heater is warm to the touch, wrapping it can save 10% of water heating costs. Newer gas units have built-in insulation and can save significant energy.
o Use the VACATION or pilot setting when on vacation
o For electric water heaters, install a timer to turn off the heater at night.
o Water heaters should be strapped to a wall stud for earthquakes.

Other Options: Tankless Water Heaters (also known as on-demand)—
• Tankless (Demand) water heaters provide hot water only as it’s needed. Tankless water heaters don’t produce standby energy to heat water.

• Demand water heaters can be 24%–34% more energy efficient than conventional storage tank water heaters. Even greater energy savings of 27%–50% can be achieved if you install a demand water heater at each hot water outlet.

Laundry: Ways to Save

• Washer:
o Wash full loads in cold water with shortest cycles
o An ENERGY STAR qualified appliance uses 14 gallons of water per load, compared to a standard machine which uses 27 gallons of water. Over a lifetime, that’s 43,000 gallons of water saved.
o Pre-soak heavily soiled garments rather than using heavy-duty setting

• Dryer: Typically the second highest energy appliance in the house:
o Energy Star does not label clothes dryers since most dryers use similar amounts of energy
o The most efficient way to dry clothes is to hang dry them on a drying rack or a clothesline outside. We get so much sunshine in California, why not use it to our advantage?
o On your dryer, use Moisture Sensor which shuts off the dryer the moment clothes are dry. This saves on your utility bill and prolongs the quality of your clothes.
o If your dryer has spin options, chose a high spin speed to reduce the amount of remaining moisture
o Make sure you clean the lint filter before using the dryer every time. This helps the dryer efficiently dry, as much as 30%, and prevents a fire hazard.
o Keep your dryer’s exhaust clean. A clogged exhaust lengthens drying time and increases the energy.

“CLOSING” - Closing refers to the final steps in securing a home purchase.  When a property is sold, it is referred to as “closed.”

“OFFER” - Buyers “offer” a contracted rate on a home for sale. A seller may receive many “offers” and is not required to accept any.  This is why when a home buyer finds their dream home, it is important to get the “offer” in quickly.  Full price “offers” are looked upon favorably, but even “offers” of up to ten percent beneath the asking price may be an acceptable practice, too.   There are several variables to discuss with a knowledgeable real estate agent before submitting a low “offer,” however, so do your homework.  Comparing a home to others in the local market and recognizing the length other homes have been listed are helpful to consider prior to submitting or accepting any “offer” in real estate.

“DEPOSIT” - The “deposit” or earnest money pledged with an “offer,” illustrates a commitment from the buyer to the seller.  Generally the “deposit” amount is determined based on a percent of the home’s purchase price and applies to the final purchase price of the home for sale. This deposit is held “in trust” until the purchase is completed. As a potential home buyer, your “deposit” will only be accepted if your “offer” is accepted. Occasionally a home buyer decides not to move forward with the home sale which can result in the loss of the “deposit.”

“CONTINGENCIES” - Contingencies are requirements outlined in the contract that must be fulfilled prior to “closing,” often relating to financing or the house inspection. Contingencies generally last for 30 days, although the time frame depends greatly on market conditions.

“CONTRACT” - When a home seller accepts an “offer,”  the “contract” is then created.  A legal and binding document which guarantees the buyer will purchase the property when all contingencies are met. Transaction details are included in the contract, such as the property selling price and description, any important dates and contingency clauses.

“CLOSING STATEMENT” - Required by the Department of Housing and Urban Development to ensure accountability of all finances relating to the sale and purchase of a home.  Real estate commission,  escrow  securities and deposits, and any other fees must be outlined in this document. The buyer and seller will each receive a copy of the “Closing Statement” per the Real Estate Settlement Procedures Act prior to “closing.”

“CLOSING COSTS” - These are the actual costs of “closing” and include securing title, loans, appraisals, credit reports, inspections,brokers, taxes and document preparation.

Hopefully this tutorial has helped you feel a little more familiar with real estate terms, so that whether you are buying or selling a home, you can feel a bit more at ease.

Additionally, the President wants to create a new unit within his Financial Fraud Enforcement Task Force to probe misconduct and deceptive practices committed by mortgage lenders.

When reading nationwide studies or reports on real estate matters, you have to seriously consider the scope of the data. Real estate data varies hugely from one locale to another, and when it is all pooled together and averaged the resulting picture can lead to an impression that is quite different from the local reality.

Here in the Bay Area, we are fortunate to be insulated from the worst of the economic downturn as well as the worst of the housing crisis. While home prices may have shaved off a few percentage points over the last 3 to 4 years, there has not been a major bubble burst like in other areas of the country. We are no longer at the height of the market that was experienced several years ago, but neither are we in a bad place when it comes to home equity.

It is true that there are many homebuyers who are in a bad place due to unfortunate loan or refinancing circumstances, but overall this is a small segment of the population. Anyone who is considering selling their home should not feel that they have to wait for home prices to rebound. There is currently a growing lack of inventory, and sellers who are smart enough to be on the market are benefiting from the scarcity.

The properties I have most recently sold have been able to garner a great deal of interest from buyers, and have received multiple offers. It is absolutely a good time to be putting your home on the market, not only because of the dearth of homes for sale, but seasonally as well there will be more competition in the marketplace the closer it gets to the Summer months.

On that topic, it is essential to have a skilled agent on your side– as a buyer, there is low inventory and a lot of competition for properties right now. There are also many investors flooding the market looking for deals on homes they will hold as investment properties. In many cases, investors are making all cash offers which for a seller is an extremely attractive option. For these reasons, you need someone to represent you who can make your offer look as attractive as possible to a seller, and who can negotiate the best terms for your deal.

Similarly, as a seller you need an agent who will use effective marketing and negotiation strategies to garner the best possible price and terms for your sale. In today’s market, the inventory is low enough and there are enough potential buyers flooding the market that a skilled agent should be able to get you multiple offers on your property.

Contact the Tse Group to learn more about our approach to marketing and negotiation in real estate transactions.

It is SO important to have a real, local, human professional advising you on the value of a home, whether it be what your current home can be expected to sell for, or what is a reasonable purchase price for your dream home.

We have a very easy home valuation request form on our site– please use it. We will contact you personally with our own non-computer generated estimation of your home’s value.

The Internet provides some very compelling and useful real estate tools to begin a home search with, but at a certain point it becomes imperative that you are receiving current, personalized advice from a local expert on real estate. Investment in a home is usually the single largest purchase we make as individuals and it is too important of a transaction to leave your fact-finding up to an anonymous user experience on the computer.

It essentially states what I have found to be true in my business during the economic downturn in our country. There is still a great deal of wealth in the Bay Area from the tech sector, as well as an influx of foreign investors looking to capitalize on ‘good deals’. These factors continue to keep home prices steady and keep inventory relatively low, so that in San Mateo and Santa Clara Counties we have not seen the kind of dismal market conditions present in so many other areas of the U.S.