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“Spring is when you feel like whistling even with a shoe full of slush.”
-Doug Larson, (1902 – 1981), English racer |
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With foreclosures on a steady increase, many homebuyers are keeping a keen eye out for bargains. “It’s not unusual for buyers to save up to 20% with a foreclosed home,” explains David Webb of the foreclosure-auction firm Hudson & Marshall.
If you are interested in buying a foreclosure, there are a few things you should know. First, unlike regular homes for sale, “many foreclosures are sold in as-is condition, with no inspections,” says Webb. The burden is therefore on the buyer to make sure they know what they are getting into, or at least what they are risking. Webb adds that before making an offer on a foreclosed home, you should check to see whether there are any liens against the property or back taxes owed; both of these will add to your total cost. Finally, most foreclosures require quick closings, so be prepared to pay in cash or get immediate financing.
Source: Parade |
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What You Need to Know to Go Solar
As attention on global warming and energy consumption continues to increase, American homeowners are becoming more interested in doing their part. If you are interested in making your home solar-powered, here are a few things to know.
Skyrocketing energy costs, increasingly evident effects of global warming and growing attention on individual action are all good reasons to think about your impact on the environment and what you can do about it. Installing solar panels on your home is a great way to affect all three of these things. A recent Parade article explores five things you should know about going solar.
- Evaluate your home’s solar suitability. Rob Powell of verdeenergy.com, a network of renewable energy professionals, explains, “Your home needs an unshaded or unobstructed roof facing south, east or west.” You also need adequate roof space: an average of 600 to 700 square feet for an electricity-producing system and 100 square feet for a thermal system, which heats your home’s water supply or pool.
- Explore solar energy types and prices. This is the recommendation of Meagan Anderson of SunTechnics Energy Systems in Sacramento, Calif. Most homeowners start out with a thermal system, which costs an average of $6,000 and pays for itself in five to seven years. Solar pool heaters cost an average of $5,000 and pay for themselves within three years. A standard 5-kilowatt photovoltaic (PV) system, which is electricity-generating, weighs in at $40,000, but pays for itself within six to 12 years.
- Look at your current home energy bill. Adrienne Henzmann of the Florida Solar Energy Center recommends taking a look at your energy costs before investing in a system. If you are currently paying 15 cents per kilowatt hour or more, then installing a PV system would be a cost-saving option. Take a look at the Web site pvwatts.org to find tools to calculate your savings.
- Partner with a utility company. Net metering arrangements allow your PV system to send excess electricity back into the grid. “The meter will actually run backward,” says Rhone Resch, president of the Solar Energy Industries Association. Your power company may credit you for any excess power you produce. PV systems make the most sense in areas where electricity rates vary throughout the day. “Because PV generates electricity during the most expensive time of day – peak power – you’re selling surplus power into the grid at retail prices and drawing from the grid at off-peak prices,” Resch explains.
- Put some money back in the bank. Tax credits are another good reason to go solar. Federal tax credits, stat rebate programs and utility company incentives can decrease the price of a solar system by 50% or more, says Resch. The Web site dsireusa.org has a comprehensive database of incentives for using renewable energy.
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