The extension was added to a bill to pay for jobless benefits.
The NATIONAL ASSOCIATION OF REALTORS® estimates that one-third of qualified applicants have been notified that they will be unable to close by the deadline. The Mortgage Bankers Association says delays are caused largely by the volume of transactions.
The measure still must be approved by the House.
Source: Associated Press, Andrew Taylor (06/16/2010)
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Local Real Estate Professional Certified to Address and encourage the Benefits of Energy Efficiency and Health-Related Features in Homes and Buildings
Minot, North Dakota – June 11, 2010 – Drew Wierson of Prudential Preferred Properties in Minot has earned the EcoBroker Certified® designation, having successfully completed an award-winning and informative training program on the energy efficiency and health-related issues that affect real estate transactions. Drew joins the movement of professionals pushing the real estate market toward energy-efficient, sustainable, and healthier features in homes and buildings. Today’s focus on high-performance, energy-efficient homes and buildings is a priority for this type of high-quality real estate professional earning the EcoBroker Certified® designation. EcoBrokers® like Drew are building a premier market presence by serving as consumer and community resources on energy and health-related issues. With national surveys indicating that 9 out of 10 consumers consider energy efficiency and the environmentally sound aspects of a home to be almost as important as interior finishes, Certified EcoBrokers® are simply in a better position to serve the savvy minded real estate consumer.
“The driving force of this is comfort and savings for my clients. Everyone wants save money and live healthier lives. This training was a way to help in that regard. I’m always looking for the best ways to not only offer my clients the best value but to also develop a relationship where they feel I am a trusted resource,” Drew explains. “My EcoBroker Certified® training helps me ensure that my customers, who are my number one priority, get the knowledge they need to make informed decisions that help them realize energy related savings and superior comfort. I am better able to advice consumers on everything from mold, radon, indoor air quality, and other health related concerns, to energy star rated products, energy rebate programs, energy efficient mortgages, and the multitude of other energy saving products. I now have more resources at my disposal to help my buyers and sellers make informed real estate decisions. The EcoBroker Certified® designation doesn’t make me an energy and environmental expert, but it puts me in a position to recognize issues and convey information on the products and services available to my buyers and sellers.”
From the Minot office, Drew explains, “With EcoBroker’s training, I have broadened the range of real estate opportunities I offer my clients. I’m in a better position to help. The real estate industry is forever changing and our nation faces complex energy and environmental issues. To best serve my clients, I need to understand the newest products, technologies and issues as they affect today’s real estate market. My EcoBroker Certified® designation helps me do just that.”
For additional information on what it means to be a Certified EcoBroker®, please contact:
Drew Wierson
www.drewwierson.com
Phone: 701.240.7345
Email: drewwierson@yahoo.com
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Housing Shortage Article – follow the link below.
It looks like we have a problem here. Too many jobs, not enough houses. What can be done? I recently got a call from a young man looking for a place to live who moved here (Minot) site unseen and with no place to live. He is currently, last I heard from him, living in a campground in the back of his truck. He came here because he heard about the oil jobs. One needs to really look at this and see where the true opportunities are. My feeling with things like this, dont believe the hype, markets are always irrational, and watch as “mania” ensues. Sure its great for the area, the growth and economic benefits are fantastic, homeowners feel great because their house is worth 20% more than it was 2 years ago, governments can cash in on tax revenues and hopefully use the money wisely…or not, but it does come with a whole set of negatives also like increased crime rates, inflated house values (affordability out the window), increased traffic, and poorer schooling (especially with a town that refuses to build a new high school). Fact of the matter is residential development is usually, at least 2-3 years behind growth, commercial, 3-5 years, hopefully we can avoid the overbuild syndrom and expand in a healthy way, and avoid the property/development binge that screwed the sand states.
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“The law provides qualified service members who served on official extended duty outside of the United States for 90 days or more at any time between January 1, 2009, to April 30, 2010, another year to buy a home and claim the credit. They have until April 30, 2011, to sign a sales contract, and until June 30, 2011, to settle and close on the home. Both the $8,000 first-time and $6,500 repeat home buyer tax credits are included in the rule.
The rule that requires buyers to repay the credit if they move out of their home within three years has also been waived for qualified service members if they have to sell their home due to receiving government orders for extended duty service.” – NAHB
This is a great thing to give our troops. They deserve the opportunity to take advantage of the home buyer tax credit. Congress gets something right for once.
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A new rule will go into effect this month requiring renovation and repair contractors to be EPA-certified to work with lead paint hazards if they will work on a residential property built before 1978 in which lead-based paint may be disturbed. HUD estimates that this could be as many as 35 million properties. The rule also applies to places where children under 6 spend large amounts of time, such as child care centers and schools. The certified contractor must provide the occupants (owner or tenant) with a new information booklet and must follow lead safe work practices.
There are several important exemptions to this rule:
1. Homeowner occupants or tenant occupants may do the work themselves without certification.
2. A residence where there are no children under 6 and no pregnant women as regular residents is a possible exemption.
3. If the area disturbed is less than 6 square feet indoors or 20 square feet outdoors, the project is exempt. Because lead paint was so prevalent on window frames in pre-1978 houses, window replacement on these homes is never exempt.
4. If a qualified lead test specialist certifies that no lead paint will be disturbed, the project is exempt.
What this means to you as an home owner or investor – When you want to higher a contractor to do any work for you, you will be sharing the cost. More training and more certifications/requirements = higher cost for the consumer. Because we all know, cost trickle down to the end users. While the intentions of this measure are good and lead should be a safety concern to all, it is ultimately just adding to over-all bill, and another layer of government imposed regulation. Safety is important, but what do higher taxes and costs do to an already struggling economy?
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Source: The Wall Street Journal, Sarah Max (04/07/2010)
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The jobs report released Friday by the U.S. Department of Labor shows that the nation’s labor market continues to be weak. While employers added 162,000 jobs in March, the largest gain since 2007, about 48,000 of them were temporary positions working for the Census. The unemployment rate held steady at 9.7 percent.
This situation has a serious impact on the housing market because people without jobs don’t buy houses, and some of the unemployed will be unable to pay their mortgages.
The Mortgage Bankers Association’s quarterly survey suggests that early-stage mortgage delinquencies may have already peaked — a good sign. Nevertheless, the pool of seriously delinquent loans continues to grow.
Freddie Mac Chief Economist Frank Nothaft is optimistic, but he warns, “Because of foreclosure moratoria, judicial backlogs, and [modification] trial periods, many loans are languishing either in late-stage delinquency or in the foreclosure process and could add to [bank-owned] inventories in the coming year.”
Source: The Wall Street Journal, Nick Timiraos (04/02/2010)
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Detecting Air Leaks (click here for print friendly version)
Common Air Leaks in a Home
You may already know where some air leakage occurs in your home, such as an under-the-door draft, but you’ll need to find the less obvious gaps to properly air seal your home. For a thorough and accurate measurement of air leakage in your home, hire a qualified technician to conduct an energy audit, particularly a blower door test. A blower door test, which depressurizes a home, can reveal the location of many leaks. A complete energy audit will also help determine areas in your home that need more insulation.
Without a blower door test, there are ways to find some air leaks yourself. First, look at areas where different materials meet, such as between brick and wood siding, between foundation and walls, and between the chimney and siding. Also inspect around the following areas for any cracks and gaps that could cause air leaks:
You can also try these steps to depressurize your home to help detect leaks:
Other air-leak detection methods include the following:
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Home Energy Saving Tips – Learn ways to make your home more efficient
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Click here to view Your Real Estate Minute
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