Potential home buyers who delay have a lot to lose.
First-time home buyer and move-up tax credits worth $8,000 and $6,500, respectively, expire April 30. Buyers who qualify get a dollar-for-dollar reduction in taxes or a cash payment if they don’t pay enough taxes to cover the credit.
Other factors that should spur buyers:
Low mortgage rates. If the Federal Reserve stops buying mortgage-backed securities at the end of March, 30-year rates will almost certainly rise to more than 6 percent.
Rising prices. About 30 percent of markets are already experiencing price increases. Prices are falling in 12 percent of markets, says Fiserv (but that only helps if you want to live there).
Source: Money Magazine, 03/02/2010)
Friday, March 5, 2010
Thursday, February 25, 2010
Seven Tips for Saving Energy with Home Lighting
Article From HouseLogic.com
Written By: Charlotte Barnard
Published: August 28, 2009
Lighting eats up as much as 20% of your annual electric bill, but using energy-efficient bulbs and making other simple changes can cut lighting costs dramatically.
Lighting is one of the biggest energy gobblers in your house, eating up between 10% and 20% of your total electric bill. But it's also one area of the home where a minimal effort can yield major returns. Simply replacing standard incandescent light bulbs with compact fluorescents can lower operating costs by as much as 75% per bulb. And in places where you can't-or don't want to-switch to CFLs, you can use higher-efficiency incandescents and even make your existing conventional lighting cheaper to operate. When new federal legislation takes effect in 2012, all light bulbs will have to meet tougher energy-efficiency standards. But with a few small changes, you can start saving money right now.
For the greatest savings, switch to compact fluorescents CFLs remain the go-to choice for energy efficiency. They last longer and consume less electricity than a standard incandescent. A 13-watt CFL, for example, gives off the same amount of light as a 60-watt incandescent and burns for 10,000 hours, compared with 1,000 hours for the conventional bulb. A typical CFL saves about $30 in operating costs over its lifetime.
Early CFLs didn't always deliver on light quality or convenience, but aesthetic performance has improved vastly in recent years. They now come in warm, neutral, and cool "colors," and major manufacturers like GE have started enclosing the telltale spiral in a conventional bulb shape so it's less obtrusive.
You get the biggest bang for your buck with CFLs in places where you would otherwise use incandescent bulbs: floor and table lamps and standard overhead fixtures. They last longer when they're not flipped on and off constantly, so they're especially good in rooms that see a lot of activity throughout the day, such as a kitchen or a playroom. A couple of caveats: CFLs can be glary, so they're not the best choice in downward-pointing fixtures like chandeliers, and most don't work with dimmers or timers. Because the bulbs contain mercury, they can't be thrown out in the regular trash. If you bought them at a home center, you should be able to return them there for recycling, or log on to www.recycleabulb.com to find a disposal center near you.
Cost and savings: Expect to pay $2 to $15 for a CFL, versus 50 cents to $1 for a comparable incandescent, but the CFL will last at least 10 times longer and cost up to 75% less to operate.
Make your existing incandescents less expensive to run by simply lowering the wattage of an incandescent bulb by 15 watts-from 75 to 60, for example-you can knock 15% off the operating cost. And you may not even notice the difference in brightness. "A small reduction in wattage isn't discernible to the eye," says Brett Sawyer, a consultant who blogs about sustainable home design. If the light is on a dimmer, for every 10% you lower the brightness, you'll double the bulb's life. Try this, Sawyer says: Replace your most-used bulbs with ones at least 10 watts lower. If you don't notice the difference, then replace all the incandescents you can with lower-wattage bulbs. Combine that with CFLs in selected fixtures, and you'll achieve a "light layering" effect that saves money without compromising light quality, and without a hefty upfront investment.
Cost and savings: For every 15-watt reduction, you reduce energy use by 15%. And a $10 dimmer, once installed, costs nothing to use.
Keep an eye on new bulb technologies spurred on by new energy requirements set to go into effect in 2012, bulb manufacturers are working feverishly to come up with more efficient versions of the standard incandescent. Presently, companies including GE, Sylvania, and Philips offer high-efficiency incandescent and halogen bulbs that use less energy than standard incandescents while delivering the same light quality. And research is proceeding apace on how to bring the dramatic energy efficiency of LED technology to residential products. These lights, which require very little current and last even longer than CFLs, are prohibitively expensive for home use (except in certain applications like under-cabinet strip lighting), but that's likely to change in the coming years.
Think beyond the bulb to save on lighting costs changing bulbs is one way to reduce your lighting bill, but it's not the only way. Motion sensors: Great in rooms where the occupants can't be counted on to turn off the light, such as a kids' playroom. Devices cost $15 to $50 and take about an hour to install.
Door-jamb switches: Best in a pantry or closet; opening the door activates the light. As much a convenience as it is an energy saver-as long as you remember to close the door. Devices starts at about $15.
Windows: You'd be surprised at how much a simple window cleaning can instantly improve natural light.
Energy Star fixtures: Designed for CFL and LED lights, these can save up to $70 a year in energy costs. Go to www.energystar.gov to find links to manufacturers.
Article From HouseLogic.com
Written By: Charlotte Barnard
Published: August 28, 2009
Lighting eats up as much as 20% of your annual electric bill, but using energy-efficient bulbs and making other simple changes can cut lighting costs dramatically.
Lighting is one of the biggest energy gobblers in your house, eating up between 10% and 20% of your total electric bill. But it's also one area of the home where a minimal effort can yield major returns. Simply replacing standard incandescent light bulbs with compact fluorescents can lower operating costs by as much as 75% per bulb. And in places where you can't-or don't want to-switch to CFLs, you can use higher-efficiency incandescents and even make your existing conventional lighting cheaper to operate. When new federal legislation takes effect in 2012, all light bulbs will have to meet tougher energy-efficiency standards. But with a few small changes, you can start saving money right now.
For the greatest savings, switch to compact fluorescents CFLs remain the go-to choice for energy efficiency. They last longer and consume less electricity than a standard incandescent. A 13-watt CFL, for example, gives off the same amount of light as a 60-watt incandescent and burns for 10,000 hours, compared with 1,000 hours for the conventional bulb. A typical CFL saves about $30 in operating costs over its lifetime.
Early CFLs didn't always deliver on light quality or convenience, but aesthetic performance has improved vastly in recent years. They now come in warm, neutral, and cool "colors," and major manufacturers like GE have started enclosing the telltale spiral in a conventional bulb shape so it's less obtrusive.
You get the biggest bang for your buck with CFLs in places where you would otherwise use incandescent bulbs: floor and table lamps and standard overhead fixtures. They last longer when they're not flipped on and off constantly, so they're especially good in rooms that see a lot of activity throughout the day, such as a kitchen or a playroom. A couple of caveats: CFLs can be glary, so they're not the best choice in downward-pointing fixtures like chandeliers, and most don't work with dimmers or timers. Because the bulbs contain mercury, they can't be thrown out in the regular trash. If you bought them at a home center, you should be able to return them there for recycling, or log on to www.recycleabulb.com to find a disposal center near you.
Cost and savings: Expect to pay $2 to $15 for a CFL, versus 50 cents to $1 for a comparable incandescent, but the CFL will last at least 10 times longer and cost up to 75% less to operate.
Make your existing incandescents less expensive to run by simply lowering the wattage of an incandescent bulb by 15 watts-from 75 to 60, for example-you can knock 15% off the operating cost. And you may not even notice the difference in brightness. "A small reduction in wattage isn't discernible to the eye," says Brett Sawyer, a consultant who blogs about sustainable home design. If the light is on a dimmer, for every 10% you lower the brightness, you'll double the bulb's life. Try this, Sawyer says: Replace your most-used bulbs with ones at least 10 watts lower. If you don't notice the difference, then replace all the incandescents you can with lower-wattage bulbs. Combine that with CFLs in selected fixtures, and you'll achieve a "light layering" effect that saves money without compromising light quality, and without a hefty upfront investment.
Cost and savings: For every 15-watt reduction, you reduce energy use by 15%. And a $10 dimmer, once installed, costs nothing to use.
Keep an eye on new bulb technologies spurred on by new energy requirements set to go into effect in 2012, bulb manufacturers are working feverishly to come up with more efficient versions of the standard incandescent. Presently, companies including GE, Sylvania, and Philips offer high-efficiency incandescent and halogen bulbs that use less energy than standard incandescents while delivering the same light quality. And research is proceeding apace on how to bring the dramatic energy efficiency of LED technology to residential products. These lights, which require very little current and last even longer than CFLs, are prohibitively expensive for home use (except in certain applications like under-cabinet strip lighting), but that's likely to change in the coming years.
Think beyond the bulb to save on lighting costs changing bulbs is one way to reduce your lighting bill, but it's not the only way. Motion sensors: Great in rooms where the occupants can't be counted on to turn off the light, such as a kids' playroom. Devices cost $15 to $50 and take about an hour to install.
Door-jamb switches: Best in a pantry or closet; opening the door activates the light. As much a convenience as it is an energy saver-as long as you remember to close the door. Devices starts at about $15.
Windows: You'd be surprised at how much a simple window cleaning can instantly improve natural light.
Energy Star fixtures: Designed for CFL and LED lights, these can save up to $70 a year in energy costs. Go to www.energystar.gov to find links to manufacturers.
Wednesday, January 27, 2010
Mayor Riley Focuses on Jobs in 2010
Critical to the health of the tri-county area and home sales, Mayor Joe Riley's "state of the city" address focused on job creation and his vision for bringing Charleston through the economic downturn.
By Ashley Fletcher Frampton
Published Jan. 27, 2010
During a 30-minute “State of the City” address Tuesday night, Mayor Joe Riley recounted major city projects completed during 2009 and previewed several next steps, many of which relate to job creation.
“Our future is bright, and our economic recovery is well under way,” Riley said as he began the speech before City Council members and a TV audience.
During 2009, the city received $16 million from the American Recovery and Reinvestment Act that has helped pay for affordable housing renovations, new police officers, a new community center and more, Riley said.
“These funds created jobs and added substantially to our community,” he said.
Riley said spurring economic development is always an important responsibility of city government. “But it’s never been more important than now,” he said.
Riley pointed to the 2009 completion of the SCRA MUSC Innovation Center biotechnology incubator on Meeting Street as a huge step forward in economic development. The project, he said, “will prove to be a pivotal point in our community’s economic development history.”
The city partnered on that project with the Medical University of South Carolina and the S.C. Research Authority, transforming a former mattress factory into a temporary home for startup research businesses that need access to wet labs.
The next step in positioning Charleston to be a national leader in biotech and life sciences research is the development of the Horizon District, Riley said.
That district includes the area between Lockwood Boulevard and Hagood Avenue on the city’s west side. The city officially designated the area as a tax-increment financing district in late 2008, and Riley said Tuesday that the city has continued planning for its development.
The vision is to build a live-work community where research and ideas incubated at the Innovation Center can “move to scale” as businesses, Riley said.
Another incubator-type project that the city finalized in 2009 is a building at the corner of Calhoun and East Bay streets called the Flagship. The building offers small professional office spaces for rent at low prices and flexible terms for startups and companies relocating to Charleston.
The Flagship houses the Charleston Digital Corridor, a resource network the city created in 2001 for knowledge-based industries, along with the city’s Business Development Department.
Seven businesses are working out of the Flagship now, Riley said.
“We are planning to replicate the Flagship concept of small-business incubation in a location west of the Ashley and will work to continue to develop this initiative in other parts of our city as well,” he said.
Riley also announced a new initiative of the Charleston Digital Corridor, a Web site meant to help knowledge-based companies in the area recruit workers. The new site, called Charleston Works, promotes the city as an emerging destination for technology professionals and lists local technology companies’ openings in one place.
Riley said the new Web site is based on the recognition that a skilled work force is a cornerstone in building a knowledge-based economy.
The mayor called Boeing’s announcement of plans to build a second 787 Dreamliner assembly plant in North Charleston “the biggest job creation news not only this year but arguably in our history.”
More than 2,000 people are expected to work on the plant’s construction, Riley said. When it’s completed in 2011, the company expects to hire at least 3,800 people over the first few years.
Riley said he has created a task force to ensure the city does everything it can to support the residential and commercial development that will come as a result of the Boeing project.
Other highlights of 2009, Riley noted, were the completion of the city’s ongoing King Street streetscape work, the start of a joint planning effort for a new cruise ship passenger terminal at the S.C. State Ports Authority, and the work of a citizen committee charged with writing a Charleston Green Plan to help the city reduce its carbon footprint.
The citizen committee presented its Green Plan to City Council in December. But after controversy about its details, the council delayed a vote until early this year.
Drainage improvement was another issue that Riley focused on during his speech. In particular, he talked about the city’s request for federal stimulus funding for an overhaul to the drainage system underneath downtown roads, including the Crosstown Expressway.
The city has asked for $146.3 million for work to prevent the substantial flooding that occurs downtown during rainstorms, impeding vehicle and pedestrian traffic. In December, city officials went so far as to temporarily close off access to downtown because of flooding.
Riley said the drainage project is completely designed and engineered.
“It’s shovel-ready,” he said. “I’ve met with the (U.S.) Secretary of Transportation three times, the Secretary of Homeland Security, our congressional delegation. Sen. (Lindsey) Graham, Congressman (Jim) Clyburn have been of huge help.
“We’re doing everything possible to get this grant. But I will not rest until this serious drainage problem is addressed.”
By Ashley Fletcher Frampton
Published Jan. 27, 2010
During a 30-minute “State of the City” address Tuesday night, Mayor Joe Riley recounted major city projects completed during 2009 and previewed several next steps, many of which relate to job creation.
“Our future is bright, and our economic recovery is well under way,” Riley said as he began the speech before City Council members and a TV audience.
During 2009, the city received $16 million from the American Recovery and Reinvestment Act that has helped pay for affordable housing renovations, new police officers, a new community center and more, Riley said.
“These funds created jobs and added substantially to our community,” he said.
Riley said spurring economic development is always an important responsibility of city government. “But it’s never been more important than now,” he said.
Riley pointed to the 2009 completion of the SCRA MUSC Innovation Center biotechnology incubator on Meeting Street as a huge step forward in economic development. The project, he said, “will prove to be a pivotal point in our community’s economic development history.”
The city partnered on that project with the Medical University of South Carolina and the S.C. Research Authority, transforming a former mattress factory into a temporary home for startup research businesses that need access to wet labs.
The next step in positioning Charleston to be a national leader in biotech and life sciences research is the development of the Horizon District, Riley said.
That district includes the area between Lockwood Boulevard and Hagood Avenue on the city’s west side. The city officially designated the area as a tax-increment financing district in late 2008, and Riley said Tuesday that the city has continued planning for its development.
The vision is to build a live-work community where research and ideas incubated at the Innovation Center can “move to scale” as businesses, Riley said.
Another incubator-type project that the city finalized in 2009 is a building at the corner of Calhoun and East Bay streets called the Flagship. The building offers small professional office spaces for rent at low prices and flexible terms for startups and companies relocating to Charleston.
The Flagship houses the Charleston Digital Corridor, a resource network the city created in 2001 for knowledge-based industries, along with the city’s Business Development Department.
Seven businesses are working out of the Flagship now, Riley said.
“We are planning to replicate the Flagship concept of small-business incubation in a location west of the Ashley and will work to continue to develop this initiative in other parts of our city as well,” he said.
Riley also announced a new initiative of the Charleston Digital Corridor, a Web site meant to help knowledge-based companies in the area recruit workers. The new site, called Charleston Works, promotes the city as an emerging destination for technology professionals and lists local technology companies’ openings in one place.
Riley said the new Web site is based on the recognition that a skilled work force is a cornerstone in building a knowledge-based economy.
The mayor called Boeing’s announcement of plans to build a second 787 Dreamliner assembly plant in North Charleston “the biggest job creation news not only this year but arguably in our history.”
More than 2,000 people are expected to work on the plant’s construction, Riley said. When it’s completed in 2011, the company expects to hire at least 3,800 people over the first few years.
Riley said he has created a task force to ensure the city does everything it can to support the residential and commercial development that will come as a result of the Boeing project.
Other highlights of 2009, Riley noted, were the completion of the city’s ongoing King Street streetscape work, the start of a joint planning effort for a new cruise ship passenger terminal at the S.C. State Ports Authority, and the work of a citizen committee charged with writing a Charleston Green Plan to help the city reduce its carbon footprint.
The citizen committee presented its Green Plan to City Council in December. But after controversy about its details, the council delayed a vote until early this year.
Drainage improvement was another issue that Riley focused on during his speech. In particular, he talked about the city’s request for federal stimulus funding for an overhaul to the drainage system underneath downtown roads, including the Crosstown Expressway.
The city has asked for $146.3 million for work to prevent the substantial flooding that occurs downtown during rainstorms, impeding vehicle and pedestrian traffic. In December, city officials went so far as to temporarily close off access to downtown because of flooding.
Riley said the drainage project is completely designed and engineered.
“It’s shovel-ready,” he said. “I’ve met with the (U.S.) Secretary of Transportation three times, the Secretary of Homeland Security, our congressional delegation. Sen. (Lindsey) Graham, Congressman (Jim) Clyburn have been of huge help.
“We’re doing everything possible to get this grant. But I will not rest until this serious drainage problem is addressed.”
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