U r b a n T r e k k e r

Project Sage: Campus Facilities a Model of Sustainability

Home Remodeling Payback 2009-2010

Remodeling magazine just released its 22nd annual Remodeling Cost vs. Value report for 2009-2010. Conventional thinking would have thought that remodeling kitchen and bathroom still offers the best value, right? Not anymore. It's the other part outside and inside the house that offers better return for your money. The greatest return of this year's cost vs. value reportedly come from curb appeal, outside your house projects.

Seven out of top 10 high-yielding value, are exterior projects, that cost under $15,000 and yet offer the best return. The driver: recession. It's the economy. Many homeowners have decided to scale back their projects and be frugal. Another reason for the popularity is the tax credits for energy-efficiency upgrades, like roof, windows, etc. (more on energy-efficiency tax credits). Most buyers wouldn't mind paying a bit more for new and energy-efficient windows.

The best bang-for-your-buck: entry door replacement (steel). This is where cheaper is better. The job cost $1,172 on average, however, the resale value of $1,470 recoup 128.9% of your investment. If you replace your entry door with fiberglass door, instead of steel, it doesn't offer you the same return. Not only the product cost more than double at an ave. of $3,490, it only recoup half of (steel) for a mere 65.2% return on your money. Not bad. But not the best investment for the money.

Here are the top 10 mid-range remodeling projects. (in bracket shows cost recoup):

1. Entry door replacement steel (128.9%)
2. Attic bedroom (83.1%)
3. Deck addition wood (80.6%)
4. Siding replacement vinyl (79.9%)
5. Minor kitchen remodel (78.3%)
6. Window replacement wood (77.3%)
7. Window replacement vinyl (76.6%)
8. Basement remodel (75.4%)
9. Major kitchen remodel (72.1%)
10. Bathroom remodel (71%)

For our area, Washington DC region, the four value added mid-range projects with great potential, are attic bedroom, backup power generation, basement remodel and roofing replacement. The more expensive projects, even though cost more, the recoup cost is far less than the money spent. In other words, it's not worth it.

For full coverage, go here and here.

Fannie Mae Higher Lending Standards in the Pipeline

Stricter lending standards are coming online next month. Fannie Mae will raise minimum credit score from 580 to 620 for a 20% downpayment. Also for borrowers with a 20% downpayment, the debt to income ratio, can't be more than 45%.

Forget buyers' tax credit for a moment, this kind of ratio will make it tougher for some people to qualify.

Charlie Brown: Thanksgiving

I love Charlie Brown.. up to this day.. 

Enjoy..

Thank You, Readers..

For reading my blog...5 years and counting..

How to Reduce Your Home Heating Costs

How To Reduce Your Home Heating Costs on Howcast

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Green Tune-up: Location of Thermostat is Key

Image by pdxjmorris via Flickr

So, where you put your programmable thermostat, apparently is key to cut down your utility bills. Thermostat is the low hanging fruit in energy efficiency. However, where you put thermostat, is important in helping you meeting the goals of keeping your energy bills down, via New York Times.

“If you have the right thermostat in place but the temperature sensor is in the wrong place, that can have a huge impact on energy performance,” said Jeffrey Perlman, the president of Bright Power, an energy consulting group.

Thermostat is so efficient that it gives you the fastest payback to savings energy and the environment, in comparison to other gadgets, when in comes to green tune-up your home. It's 'right' on the money. For a small investment of around $115, you can get money back for the return on investment (ROI) in the neighborhood of 0.6 year or 7.2 months, at an annual savings of approximately $180 in energy costs. According to GreenandSave, your payback or ROI would be 1.5 times (156.5%) of cost.

It's like real estate. Location, location, location. Where you put it, gives you the most bang! Via GreenandSave:

The height on the wall (optimal between chest and eye level) and the location in a room near exterior doors or windows can impact the readings. As well, proximity to supply and return ducts can impact the reading and cause inefficient cycling. (emphasis mine)

Consult your HVAC contractor and ask to give you a couple zone locations around the house, so you can get the most bang for your buck.

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For the purpose of full disclosure: I am a Realtor Outreach for GreenandSave, a company that has 20 year legacy in the 'Green' energy saving market. The National Association of Realtors (NAR), uses the GreenandSave data for their green education curriculum. Click here and enter promo "Realtor2," and GreenandSave will donate $10 of proceed to a local realtor association. 

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Free Tysons Connector Lunchtime Shuttle

Image via Wikipedia

Free shuttle buses start next Monday, November 23. It runs every 10 mins between 10am to 2:30pm. The kick-off event is 11:00am this coming Monday at Tysons Corner Center's main stop near Nordstrom entrance. They're giving away restaurants' gift certificates (they said while supplies last) to bus riders.

Check out map, here.

Dulles Metrorail Project: Rts. 123 & 7 Construction Map Fall 2009 - Mid 2010

This is like a mixed feeling. On one hand, it's exciting to watch the recent development around the area. And on the other hand, this project creates headaches for businesses and those working out of Tysons, McLean areas, especially surrounding Route 123 and Route 7. So, expect major changes along the 1-mile construction zone on Route 7 and Route 123. 

 

Some of the traffic changes coming in the next couple of weeks, via Dulles Metro:

• The service roads along the edges of the east and west bound lanes of Route 7 will be closed so that the edges of Route 7 itself can be pushed out to the edges of the service roads and beyond to make room for construction of the rail line and stations in the median of the road bed.
• Near the two stations to be built along Route 7-Tysons Central 7 (near SAIC and Marshalls) and Tysons West (between Spring Hill and Tyco Roads), the eastbound lanes will balloon out into the parking areas of some businesses.
• Also, along the eastbound lanes, crews will be building retention walls to support the new road bed as crews must build up many existing service roads to the levels of Route 7.
• Mid-block left turns will be eliminated. Drivers will be encouraged to make U-turns at the existing signalized intersections: Westwood/Tyco, Spring Hill and Gosnell/Westpark.
• A major lane shift has already taken place on Route 7, beginning at the Route 123 overpass.
• The traffic signal at Route 7 from the Route 123 exit to Winchester and Reston has been removed.
• The ramp from Route 7 to southbound Route 123 has been relocated.

Construction Maps

  

  

You can read more, here and here.

Where Do You Want to See Yourself Fit in the Green Revolution?

Note: This is the story I posted for  on Active Rain, a social networking site for real estate professionals. Since it's members only, I can't even link the post. So, here is the post in its entirety.

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About a month ago, I attended a forum hosted by the Switzerland Embassy on "Green Building Policy and Design: Best Practices from Switzerland," in DC. This forum was geared towards promoting Made in Switzerland green building certification, which takes a different approach than the widely recognized LEED certification over here. Their approach is a bit simpler than LEED. LEED has a more complicated scoring tools before coming up to the platinum, gold, and standard certification systems.

The point that I want to make is this: why is it residential Realtors, being in the forefront of green revolution, not jumping the bandwagon in droves? I don't get it. Whatever you call it, be it green, sustainable, eco-friendly, trends - is real. It's here for us to seize the opportunities. Yeah, foreclosure and short-sale, may be the 'subject of interest' for the moment. The trend won't last forever. Foreclosures and short-sale supplies will disappear before you know it. On the other hand, green home, is here to stay.

There are many shades of green. This is a topic, which deserves a post on its own. For now, let's just talk about the trend in the new homes market from NAHB (National Association of Home Builders). Okay, NAHB may be in new homes, they're different, you say. However, we should see their efforts on pushing green as the 'best indicator' of what's coming in the pipeline for residential market.

Here's the latest survey from NAHB and MetLife Mature Market Institute done in September of 2009:

• 37% of consumers want an 'environment-friendly' home
• 94% of builders says that their buyers want more energy-efficient new homes
• 55% said buyers specifically want Energy Star-rated homes
• 25% of builders said buyers want homes with more recycled materials and less materials overall.

What's more, Kevin Morrow, NAHB Sr. Program Manager for Green Building Standard, said the bright spot of this recession is "builders building green homes are doing okay.." Hmm, wonder why not too many builders jumped the bandwagon sooner?

For us, Realtor magazine has an online exclusive talking about consumers interest on being green and the eco-friendly speak, published sometime in 2007. So, where are we today? Sadly, we're not there yet. We're kinda late in the game. Seriously.

The thing is, resale homes, is a huge and "untapped" market! For all purposes, i.e. remodeling, retrofitting, and more, which sometime in the future the same homes after 'green remodeling' will be bought and sold with green home label. Consider this:Energy Star plans to enter the resale market. Now, if we look at the alternative energy companies (selling solar, solar water heater, geothermal systems, etc.), they have targeted the residential market - long before any other clean, green industries enter the market! - because they see the 'upside' potential.

So, where do you see want to see yourself fit in this green revolution?

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For the purpose of Full Disclosure: I am currently in transition from being an agent to be a Realtor Outreach for GreenandSave.com, because I want to make a difference. GreenandSave, has a 20 year legacy in the 'Green' Energy saving market. NAR uses G&S data for their education curriculum. GreenandSave provides information on green home trends, tools, and marketing program for Realtors. Visit GreenandSave for more details. Enter promo code "REALTOR2, " and we will donate $10 to your local real estate association.