Greening Your Home to Save Money and Energy

Making your house a cleaner, greener space will save energy and resources, create a healthier, safer home environment, and save you money. You'll be helping out in the big picture too. According to the U.S. Environmental Protection Agency, houses account for 20 percent of all energy used in the U.S., are responsible for 20 percent of U.S. greenhouse gas emissions, and use more water than other kinds of buildings.

As you start making your home greener, you can do as little or a much as you'd like, going deeper as you go along. Taking a green action can be something as easy and inexpensive as opening a window to improve indoor air quality to a more elaborate project like installing a gray water collection system for recycling household water. Here are some ideas for getting started:

Heating and cooling:

• Figure out where energy is being wasted by having a professional energy audit, using an inexpensive radiometer to do an infrared scan of your house to reveal hot/cold air leaks, or do your own inspection for drafts under doors, and leaks and cracks around windows. Pile on the insulation in walls, under floors, and in the roof and attic, using organic and/or recycled options where possible. Upgrading insulation to R-50 standard can save up to $900 a year. Replace energy-leaking single paned windows with double paned or high-tech triple-paned glass with uber-tight seals and insulating gas between the panes.

• Take advantage of passive solar energy with design and planting choices. According to the U.S. Department of Energy, passive solar energy design can reduce heating and cooling bills by 50 percent. Planting deciduous trees by south, east, and west-facing windows will let sunshine in during winter and the leaves will provide shade during summer. Keep an air conditioner unit cool by shading it with a (non-messy) plant or tree. In summer, open windows during cool nights and circulate air with box and ceiling fans. On hot days, close blinds or curtains and shut windows to keep cool air in and warming sunlight out. In warmer climates, wide roof overhangs and covered porches will keep a house cooler and painting the roof a light color will reflect sunlight instead of absorbing it. In cooler climates, pine trees can create a windbreak and building materials like concrete, brick, stone, and tile will retain the heat of sunlight and radiate it back out slowly.

• Keep heating and cooling systems regularly serviced and make sure ducts are in good repair and filters are clean. When purchasing new units, look for Energy Star-rated models to save 10-50 percent more energy. Keep thermostat above 78 degrees in summer and below 68 degrees in winter and use a programmable thermostat. Lowering your thermostat two degrees will save $23-$38 a year.

Water:

• Install low-flow toilets to use less than half the water of older models or re-jigger the float valve in an existing toilet so that less water enters the tank. Fixing a leaky toilet will save you about $100 a year. Install aerators in faucets and low-flow showerheads to cut your water consumption by 50 percent—just one low-flow showerhead can save $32.50 per person, per year.

• Outside, opt for native plants and low-water use landscaping. Water gardens with a drip hose and do watering during cool early morning hours. Consider a rain barrel system to collect rainwater for watering to save $100-$300 a year.

Improve indoor air quality:

• When a house is sealed tight for maximum energy savings, it can create a new problem—poor indoor air quality that can be 10 times worse than the air outside. One of the easiest ways to combat the problem is to simply open some windows and air out the house. Houseplants can also improve indoor quality naturally. According to NASA, the best plants for filtering indoor air include: peace lilies, spider plants, rubber plants, bamboo palms, and English ivy.

• Reduce sources of indoor air pollution by using non-toxic and renewable materials. Use flooring made from a renewable resource like bamboo, low- or no-VOC (volatile organic compounds) paint, and choose new furniture, textiles, and building materials that don't emit harmful materials like formaldehyde.

• Use natural cleaning materials, opting for plant-oil based disinfectants and detergents. Or make your own with simple recipes using common and safer household materials like vinegar, baking soda, borax, lemon juice, and washing soda.

Power down

• Replace incandescent light bulbs with halogen incandescent bulbs (25 percent energy savings), CFLs (75 percent savings), or LEDs (75-80 percent savings). Changing out just 15 bulbs could save you $50 a year, according to the Department of Energy. Use lights on dimmer settings, put lights on timers and/or install motion sensor switches that turn lights off when a room is empty. A light tube, a small, cylindrical skylight, is an option for adding natural lighting to closets or dark hallways.

• Water heaters are one of the largest energy expenses in the home, generally running $100-$200 a year. . Set the water temperature to 120 degree to save 6-10 percent a year. Insulating an older water heater with a heater blanket (look for one with an R-value of 8 or higher) will save you $5 to $20 per year. When buying a new heater, opt for tank-less or solar models.

• Installing an 8 kilowatt solar power system will give you 90-100 percent of the power you need, and with state and federal incentives can cost less than $10,000. Solar panels work best on south-facing rooftops that get all day sun exposure. If panels are out of your budget range, some power companies offer customers the option of purchasing green power created from renewable resources.

• Consider solar options for outdoor lighting, water heaters, and indoor fans.

• Plug electronics into power strips, then turn them off at night to save up to $100 a year on “phantom electricity,” the power used to keep electronics ready to power up instantly,

Whatever you choose to do, a well-planned green home will do its good work on its own, while you can sit back and enjoy the financial and energy-saving benefits.

Happy Halloween!

Scary places to travel to for Halloween

Halloween is just around the corner. 
Check out some of the spookiest places—from haunted houses to ghost towns.

Stanley Hotel–Estes Park, Colorado

You might actually wonder what went bump in the night if you opt to stay at the Stanley Hotel.
There have been numerous reports of apparitions and otherworldly occurrences throughout the hotel. And Stephen King famously stayed here, which inspired his novel The Shining. 

Eastern State Penitentiary–Philadelphia, Pennsylvania

The cellblocks at Eastern State Penitentiary once held such renowned criminals as Al Capone and Willie Sutton. Throughout October, the gothic revival building is transformed into Terror Behind the Walls, a haunted house so terrifying that it will feel as if there's no escape. 

Bodie, California

A booming mine town in the late 1800s that boasted more than 10,000 people and 65 saloons, Bodie is now best known for its preserved state as a ghost town. Stroll through this creepy shell of a settlement, filled with empty buildings and eerie silence. 

Dead Acres–Columbus, Ohio

Sick and twisted, this extreme haunted house uses every trick in the book—chainsaws, blood, screaming victims—to make your visit as creepy and hair-raising as possible.

Fright Fest–Across North America

From San Antonio to New Jersey, 13 of the Six Flags theme parks turn into Fright Fest every weekend during October. Ordinary roller coasters and adventures turn into chilling rides where monsters and zombies are waiting at every twist and turn.

Halloween Horror Nights–Hollywood And Orlando

Just try to hold onto your tongue as you experience real life scenes from The Walking Dead, Alien vs. Predator, From Dusk Till Dawn and more. The big production is all part of Universal Studios' annual Halloween Horror Nights, staged on select dates throughout October. 

Tombstone, Arizona

Perhaps it's the name of the town that drove people away. Or, maybe it's because the silver finally dried up. Regardless, the city gives you a peek into America's Old West past and lets you imagine the battles that the famed Wyatt Earp and his brothers had with outlaw cowboys, including the notorious Gunfight at the O.K. Corral.

15 Easy Ways to Increase Your Home’s Value

You’re finally ready to put your home on the market, but want to ensure you get top dollar. Are there any easy fixes that can increase your asking price without breaking your budget? Here are some tips, ranging from free to under $1,000. Happy selling!

1. Invite a REALTOR® over to give you suggestions on how you might increase the value of your home. REALTORS® will often do this as a courtesy, and many can offer great ideas for low-cost upgrades based on their day-to-day experiences.

2. Get an inspection to make sure you won’t be blindsided by hidden problems once your home’s on the market. Some small problems can cost a lot if they’re ignored for too long. So be proactive and see what your home needs to be in top condition.

3. Get an energy audit to see how you can improve the efficiency of your home. Many utility companies do energy audits as a free service, and figuring out how to make your home more efficient can be a great marketing tool when you decide to sell.

4. Paint! Applying fresh coats of paint to every room is relatively low cost, but can be time consuming, which is why many people decide to forego this project. But take the time if you can, because it will pay off. And remember, neutral colors are best because they appeal to most everyone.

5. Plant a tree, or two. Even if you plan on selling your home in a week, planting trees is always a good investment in your home. If the tree has time to mature, and provides shade to your home, it can cut down energy cooling costs as well, sometimes by as much as 40 percent!

6. Use native plants to increase your curb appeal and save money on water. Find out what grows naturally in your region and showcase those plants in the front of your home. Saving water is a great benefit to new homeowners, and planting native plants is an easy way to “go green.”

7. Install a water filtration system in your kitchen. The cost to install these is fairly low, but is one of those small details that home buyers love.

8. Remove your popcorn ceiling. This sounds expensive, but scraping away the popcorn texture from your 1970s ceiling is actually a fairly inexpensive DIY project. Just visit your hardware store for advice, then start scraping.

9. Hire a lawn service company to cut your lawn and trim your hedges. Having this task professionally done before listing your home can go a long way towards improving curb appeal.

10. Hire a cleaning service to make the inside spotless. Again, this is a low cost way to make a great first impression.

11. Rent a storage unit. One way to really open up the space in your home is to rent a storage unit and put half your furniture in it for safe keeping. The relative emptiness of the home is appealing to buyers because it gives the impression of more space.

12. Small upgrades in the bathroom and kitchen can improve a buyer’s first impression. Change out the knobs on the cabinets. Install updated lighting fixtures. Put in a new faucet.

13. Replace worn carpets or rugs. Area rugs are fairly cheap to upgrade. Replacing carpet with wood floors, or discovering the wood floor underneath, is ideal but may not be cost-effective for you. Do what you can to improve flooring. At a minimum, consider getting the carpets professionally cleaned.

14. Get a tankless water heater. Today’s home buyers are looking for eco-friendly details that will save them money long term. Upgrading your standard water heater with a tankless version is a fairly low cost way to improve the efficiency of your home, and help the earth too!

15. Upgrade appliances. If you’re able to upgrade any of your appliances it will increase the value of your home. Look for Energy Star-rated appliances so you can show potential buyers another way this home will save them money in the long run. 

Determining Your Home's Value

Appraisals and CMAs

Appraisals are primarily used to protect the lender's interest in the property. Just like lenders can be hesitant to issue a mortgage to credit-risky borrowers, they don't like to underwrite properties for more than they're worth. Appraisals also are used when other factors have made it difficult to assess your property's value, such as a lack of real estate activity in your area.

REALTORS® stress the importance of understanding that an appraisal is just the opinion of a trained professional: Five different appraisers could attach five different price tags to your home. Appraisals are based on past sales data, the location of the home, the size of the lot and the condition of the home. If the buyer's mortgage is insured through the FHA, the appraiser must disclose potential problems relating to the physical condition of the home; there are no similar stipulations for non-FHA mortgages.

Your REALTOR® may recommend an appraiser for your home. Also, the Appraisal Subcommittee of the Federal Financial Institutions Examination Council offers a member directory on its Web site. You can check the status of California appraisers? licenses through the Office of Real Estate Appraisers.

To determine an accurate measure of what your home is worth, REALTORS® can supply a comparative market analysis (CMA), which provides information on recent selling prices of similar properties in the same market. With a CMA, you can monitor the closing price of specific house types in certain areas (e.g., a condominium in a metropolitan area). Again, consult your REALTOR® if you're interested in learning more about a CMA.

Setting The Price

In establishing the listing price for your home, you need to strike a delicate balance between a figure that will scare off potential buyers and a low price that doesn't represent your home's worth. Buyers will compare your home's price with other properties on the market. Therefore, you should use a CMA to assess what consumers are paying for similar homes. CMAs also include information about area homes that failed to sell in recent months along with their corresponding list prices. Your REALTOR® can assist you in obtaining and analyzing that information.

The NATIONAL ASSOCIATION OF REALTORS® suggests some additional steps to help you set your list price. After analyzing sales data, conduct some market research on your own. Attend an open house or two and make an impartial assessment of how those homes compare to yours in terms of size, location, amenities and condition.

Your REALTOR® can be a vital resource in analyzing all the pertinent information with you to develop a list price. Trust your REALTOR®'s judgment, as he or she offers experience in this arena. However, the final decision on the listing price for your home is your choice to make.

Deciding to sell

You've probably already considered your personal reasons for selling. Now you need to take into account the other factors involved, such as market conditions, your property's value and tax implications. 

Unless you're locked into selling your home (e.g., you've already accepted a job offer in another city), it's a good idea to look at the whole picture before deciding to sell.

Assessing Market Conditions

There's a rule of thumb to keep in mind when deciding to sell your home: Your home is only worth what a qualified buyer is willing to pay at the time it's on the market. The current real estate market fluctuates based on supply and demand, interest rates, general economic conditions, and other factors. The same house may sell for more or less under a different economy. Your REALTOR® can inform you of the going price for homes in your area at the current time; this data is included in a comparative market analysis (link to Appraisals and CMAs).

Tax Implications of Selling

There are many dynamics that can affect your tax liability upon selling your home. These issues include whether you purchased the home or inherited it, if you used your home for business or rental purposes, costs associated with selling your home, and any home improvements and additions that you've undertaken.

The Federal Taxpayer Relief Act of 1997 provides capital gains tax exclusions of up to $500,000 for married taxpayers filing jointly and $250,000 for single taxpayers or married taxpayers filing separately. Current capitol gains rates are 20 percent for those in upper tax brackets and 10 percent for those in lower tax brackets. Overall capital gains rates have been lowered even further -- to 18 percent and 8 percent respectively -- for assets acquired after December 31, 2000, and held five years or more.

To qualify for this tax break, you must have used the home as your primary residence for at least two of the prior five years; these two years don't have to be consecutive. If you relocate for your job but don't meet the requirement, you may be allowed to take a capital gains exclusion proportionate to your circumstances. This exclusion is not a one-time benefit; you may take advantage of it once every two years as long as you meet the qualifications.

 The tax rules differ when you sell a home that you've inherited. If you sell the inherited home for a profit, you're required to pay federal and state taxes on the gain. If you keep the house as a second residence and/or eventually move into it after renting it to tenants, you may take the $250,000/$500,000 capital gains tax exclusion if you meet the requirements. When you're deciding what to do with inherited property, you should consider the current estate tax laws and basis practices.

Beyond these general rules, it's wise to discuss your home's sale with a tax professional who can advise you on tax benefits in more detail.

Timing Your Decision to Sell

Because most sellers finance a new home purchase with the sale of their present home, they usually put their homes on the market before they begin their search for a new home. Learning the price you can expect from the sale often sets the pricing parameters for your new home search.

Obviously, it's not wise to wait until the sale on your property closes completely before beginning to look for your new home. Timing your search properly with the buyers' transaction can make the difference between having the available funds to buy a new home and cutting down on the interim period between homes.

2014 Home Buyer Survey