Posted by admin on May 1, 2012
Japan’s proposed incentives for renewable energy will boost solar panel installations and help wean the nation off nuclear power, industry lobby groups and developers said.
A government panel Wednesday recommended solar power providers earn 42 yen (52 U.S. cents) a kilowatt-hour for the electricity they produce, three times the 13.65 yen charged to industrial and commercial users, according to the Ministry of Economy, Trade and Industry. The preferential rate, known as a feed-in tariff, for solar power was recommended for 20 years.
“The start of the feed-in tariff program will be a major step forward to expand the solar power market,” said Tetsuo Kuba, president of Kyocera Corp., a solar panel maker. “We will expand our businesses in the mega-solar market,” Kuba said in a statement.
The panel’s recommendation, which must be approved by Industry Minister Yukio Edano, marks another step in scaling back atomic power following the disaster at the Fukushima Dai- Ichi Plant last year and reducing carbon emissions linked to fossil fuel use.
Japan currently gets about 9% of its electricity from renewables. The government’s feed-in tariffs will require power utilities to pay above-market rates for electricity generated from renewable energy sources such as solar and wind.
Wind and Geothermal
Wind-generated power was recommended at 23.10 yen a kilowatt hour for plants with the capacity of 20 kilowatts or more and 57.75 yen for smaller ones, both for 20 years.
For geothermal, the panel suggested 27.30 yen a kilowatt hour for plants with the capacity of 15,000 kilowatts or more and 42 yen for smaller plants, both for 15 years.
The feed-in tariffs will be introduced in July to spur investment in solar, wind, geothermal, biomass and hydroelectric power generation.
The program will replace an earlier one called “renewable portfolio standards” that require electricity retailers to buy set amounts of clean power at a price negotiated between the buyer and seller, according to Bloomberg New Energy Finance.
“I hope various players will enter the clean energy market,” Masayoshi Son, chairman and chief executive officer of Softbank Corp., Japan’s third-largest mobile-phone company, told reporters.
Atom to Sun
Son said earlier this year he plans to build solar power plants with more than 200 megawatts of capacity across Japan, according to the website of Softbank’s renewable energy unit SB Energy Corp.
Son said he may expand that target. “I want to increase our solar capacity a little more than I said earlier,” he said, adding that Softbank is also considering locations for wind power.
Similar incentive programs that have helped countries such as Spain and Germany increase solar installations prompted them to reduce tariffs as construction surged.
In France, to end what it has called a “speculative bubble,” the country imposed a three-month freeze in December on solar projects to devise rules that could include caps on development and lowering feed-in tariffs. The tariffs were cut twice in 2010.
In August, Japan’s parliament approved legislation for the feed-in tariffs to help diversify its energy mix following the disaster at the Fukushima plant in March 2011. Atomic power provided about 30% of the country’s electricity before the Fukushima crisis.
Japan is set to be nuclear free for the first time in more than four decades next month as the last of its 50 operating reactors is scheduled to be shut for maintenance. All the facilities are being kept offline pending safety tests and government approval for restarts.
Tax Factor
Mitsue Usami, a spokeswoman for Eurus Energy Holdings Corp., a renewable energy developer, said the solar tariff of 42 yen announced Wednesday includes a 5% tax. If that is deducted, the rate is actually 40 yen, or below what the industry association suggested.
Yugo Nakamura, an analyst for BNEF in Tokyo, said there is still room to cut costs.
The government panel cited the cost of 325 yen per watt to build a solar plant when making their price recommendations, according to the industry ministry. The global average is 180 yen per watt, according to BNEF data.
The Japan Photovoltaic Energy Association had recommended a tariff of 42 yen for 20 years for solar, while the Japan Wind Power Association had suggested a wind tariff of up to 25 yen over 20 years for bigger producers.
Get in First
The Japan Geothermal Developers’ Council had recommended the tariff of 25.8 yen a kilowatt-hour for 15 years for bigger suppliers. Yesterday, the panel recommended hydro power between 25.20 yen and 35.70 yen a kilowatt-hour for 20 years depending on the size of a plant.
Biomass was suggested between 13.65 yen and 40.95 yen, depending on the types of fuel, for 20 years.
While the scheme initially offers guaranteed prices for 15 to 20 years, the government will review the tariffs and the time period every year, meaning developers who get in first will get the best profit opportunities as the tariffs may be lowered in subsequent years. Rates are also expected to be higher for the first three years to pump up incentives for developers to invest.
“Those rates are not high, but not low, either,” Kazuhiro Ueta, environmental economics professor of Kyoto University who heads the panel, said at a briefing Wednesday. “The program is designed to give favorable rates for the first three years, so we factored that in.”
The panel will meet again Friday to finish their recommendations, according to Ueta.
By: Chisaki Watanabe
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Filed Under: Green
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The gig: Ed Kushins, 65, is the founder and president of HomeExchange.com, based in Hermosa Beach. It is one of the nation’s largest members-only home exchange businesses.
What is a home exchange? With 43,000 members, HomeExchange helps participants reach agreements to swap their homes for vacations or business trips. The deal provides each with a house or apartment, and it eliminates the need to pay for hotel rooms. Members pay about $120 per year for access to the company’s member database.
How does it work? A member in Southern California looking to visit Florida, for example, finds homes of Florida members and exchanges photos and emails, asking if any of the Florida homes are available on the desired dates. If two parties agree, they arrange the trade. HomeExchange facilitates the meeting but does not perform background checks or referee the transaction.
His background: Kushins worked as an airline marketing director until 1978, when he took over his father’s scrap-metal business in Los Angeles. He is married and has two children from a previous marriage.
An idea is born: In the early 1990s Kushins vacationed in Washington, D.C., with his children, staying at a home he found through a Europe-based home exchange program. “It was perfect,” he recalled. “Instead of staying at a little hotel room and coming back after a full day of sightseeing, we had a big house in Washington. We had seven days there. They had a swimming pool, and everyone had their own room and their own TV.” Impressed, he decided to launch his own home exchange business in the U.S.
Power of the Internet: Kushins founded the company in 1992 and mailed the last paper directory to members a few years later. “When the Internet started to become widely available and popular, it totally changed this from being a hobby to being a business because in one fell swoop it eliminated all my production costs,” he said. And instead of having to send letters to one another, members can use email to communicate instantly.
Hobby no more: What began as a hobby with about 125 members and a printed directory sent by mail has become a bustling enterprise. With five full-time workers and 42 contract workers, the business now operates around the globe, is offered in 15 languages and draws $5.5 million in annual revenue.
Not to worry: The exchange idea may sound scary at first, but it isn’t, Kushins said. “First of all, nobody ever does an exchange with a stranger,” he said. “The whole process serves to eliminate that fear and to make sure that you feel so totally comfortable with these people coming into your house and that you are going to have a comfortable experience in their house. By the time you do your exchange, it’s not even a factor.”
Insurance? Most potential problems should be addressed in discussions ahead of time. But if there is some damage in a home swap, HomeExchange officials say, most homeowners insurance policies typically cover such mishaps. Many policies treat HomeExchange members like any other invited guest, such as a messy, clumsy brother-in-law.
Hey, wasn’t this in a movie? The company benefited from the 2006 film “The Holiday,” starring Cameron Diaz and Kate Winslet, about two women who exchange homes and in the process meet the men of their dreams. Before filming began, producers called Kushins for permission to mention his company in the movie. He agreed.
“We really took advantage of the movie by capitalizing on a lot of PR that came subsequent to the movie,” he said. “The killer was 10 days after. The ‘Today’ show came to my house and did a five-minute interview with me about the home exchange business.” The movie was released in December 2006; HomeExchange’s membership jumped from 9,000 in 2006 to 14,000 in 2007.
The biggest disputes: The most common complaint among people who exchange homes is that other members did not leave their homes as neat and tidy as they found them. But Kushins said such problems are “so rare that it statistically doesn’t show up.”
The latest feature: HomeExchange recently added a “Gold” membership for those who want to exchange high-end, luxury properties such as ski-in villas, penthouse apartments or beach-side mansions. The membership fee is $500 per year, and the company has about 1,000 such members.
Who would want to stay in my tiny, cramped home? Members negotiate a home swap and decide what is a fair exchange. They can agree, for example, to trade three days in a tiny shack for one day in a mansion, Kushins said. “I’ve exchanged for a tiny loft in Greenwich Village for my relatively larger place in Hermosa Beach, and I’ve exchanged for a 10,000-square-foot home in Dublin.”
By: Hugo Martín
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Who hasn’t dreamt of building their own house? Of finding that perfect little plot of land, coming up with a design and then seeing it through to completion.
It’s a powerful idea, and it might be part of the solution to Britain’s housing shortfall, which some estimates suggest will reach 750,000 homes by 2025.
Perhaps the answer is for house-hunters to take control of the situation themselves. A report by the National Self Build Association predicts a 141 per cent increase in the number of mortgages available for those building their own homes. Now the Government has backed a package of measures to help would-be home builders to get their grand designs off the ground.
“It’s an idea whose time has come,” says the Housing Minister, Grant Shapps. “At any moment, two million people in Britain are investigating the idea of building their own houses. But too many of these projects are halted before they can get started.”
The product of a joint initiative between the Government and the self-build housing industry, a new interactive website, selfbuildportal.org.uk, contains information on everything from finance to double-glazing. A postcode calculator allows you to work out how much, on average, a self-build will cost in your area.
Pricing is a key point. Television property programmes often feature multi-million-pound fantasy homes, but Shapps is keen to stress that building your own place needn’t be for the wealthy few. “The average cost of a ready-made home is now more than £232,000, but a budget of £150,000 is usually adequate to build a three to four-bedroom house. Fourteen thousand self-build homes were constructed in the UK last year, just one in 10 new homes, a figure which lags behind the rest of Europe.”
Shapps’s aim is to double the size of the UK self-build sector. He has enlisted the support of some of the biggest names in British property, including the “Restoration Man”, George Clarke, the BBC architectural historian Dan Cruickshank and Kevin McCloud.
McCloud knows better than most about Britain’s self-build frustrations. As presenter of Channel 4’s Grand Designs, he has spent more than 13 years helping people to realise their dreams, and to deal with the myriad frustrations they encounter.
“Often people think of self-build as long, difficult and self-sacrificing,” he says. “But with the right planning, help and support it can be an enjoyable process.”
As well as individual self-builders, the portal aims to encourage community projects, where a group takes charge of a local scheme. This means that self-builders can buy a “base unit”, a plot where the foundations are laid and utilities connected.
“What we’ve seen from Grand Designs is that 90 per cent of the hard work is breaking the surface: laying foundations, connecting to utilities, that sort of thing,” McCloud explains. “One solution might be for people to buy a base unit and then put their own designs on top of that. It’s good news for home builders, and also good for the landscape because people will have more architectural input.
“Self-build homes are often more ecologically sound, so it could also be beneficial for the environment.”
One of the controversies around the Government’s new legislation to free up planning laws has been the fear that the countryside will become swamped with low-quality homes.
Restoring ownership, by having a greater number building their own properties, could help ensure that new properties are both attractive and precisely suited to people’s needs.
“It would be great if we could become a nation of self-builders,” adds McCloud. “Like the Dutch, the French, the Germans, the Italians, the Swedish – the list goes on – we have lagged behind so far, but there’s no reason why we can’t catch up.
“Self-build is a dream that can stay with you through your whole life.”
By: Ed Cumming
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Q: The lease for our single-family house specifies that we will do “routine maintenance.” The landlord claims that this includes fixing the roof and doing exterior painting. We had no idea that he saw it this way; we were thinking drain repair and so on. When we refused to reroof the garage, he told us he’d sue us for the water damage that will result from a leaky roof. Can he?
A: Your question illustrates the dangers of handing over maintenance duties to tenants without a clear understanding of what those duties involve. Fortunately, the problem is relatively rare, because most states do not allow landlords to contract away their duty to maintain a fit and habitable rental. Of those that do, the statutes limit the practice to single-family homes, and typically require that the duties be spelled out in writing and that the arrangement be a fair bargain (in other words, the tenant must be paid for the labor or get a good deal on rent).
The landlord must treat the arrangement separately from his other duties as a landlord. This means, for example, that if the landlord is unhappy about the job the tenant is doing, he cannot retaliate by shutting off the water.
Even in states that allow landlords to delegate legally required upkeep, few do so. Most owners are not willing to entrust the integrity of their property to tenants who may not know much about property maintenance, and have less incentive to do things right than if they owned the property themselves.
Let’s assume for now that your state allows the landlord to pass along the obligation to maintain the property, and you decline to re-roof the garage. If your landlord sues you for the resulting water damage, the burden will be on him to convince the judge or jury that you broke the maintenance agreement. And he could have a hard time doing so: The agreement, which the landlord wrote, is so vague as to be meaningless. A judge may well conclude that the landlord had a chance to write it correctly, failed to do so, and cannot now complain about the consequences.
Your landlord will be similarly out of luck if he tries to get his insurance company to cover the damage. Property damage policies cover damage that results from a sudden event, such as water that pours in after a tree has fallen on the roof. Deferred maintenance that causes water damage over time won’t be covered.
Before it comes to that, get together with your landlord and revisit the delegation issue. Although the lease was signed some time ago, there’s no reason why the two of you can’t amend it now and fix it. Make sure that if you want to take on minor repairs only, their precise nature and extent is described thoroughly in the lease, and that you are fairly compensated for your efforts.
By: Janet Portman
Posted by admin on April 24, 2012
Issue: Energy and mining companies often create homes and infrastructure in previously uninhabited areas only to leave them abandoned once operations cease
Shift: New processes let companies quickly set up, tear down and move buildings whenever they need to, creating a more sustainable and cost-effective approach to infrastructure
If you build it, they might come. But what happens when they leave? That’s the dilemma facing many thriving oil and gas, energy and mining operations that have set their sights on development in remote communities throughout northern Canada.
With the rebound in the resource industries, the sectors are surging ahead with projects that will instantly grow existing communities or instantly create new ones. But past booms and busts have shown that building a community infrastructure isn’t that simple — especially when the production life cycle will peter out within 20 to 25 years.
The questions being asked around the planning table are different from days gone by: How do we get it up and running as quickly as possible? How can we do it in an environmentally sustainable way? And what do we do with it all once the boom is over?
There is a lot of overseas mining activity in the Yukon, for example, that will demand infrastructure building in what were once virgin territories, notes John Berg, architect and senior associate for engineering firm Stantec in Whitehorse, Yukon. “The biggest obstacle for these people coming in is dealing with the environmental impact and delivering an infrastructure that they have to have up and running in a matter of months.
“That includes electrical, mechanical, structural and architectural planning.”
Infrastructure and life cycle planners need only look at the fallout of aggressive post-war development to know what not to do. When the market faltered, many communities were virtually abandoned after operations closed.
But as Scott Weston, mining sector leader for Hemmera in Vancouver, which specializes in environmental management and infrastructure design, notes, today’s planning exercises are far more future-focused.
“You need to build in a way that the smallest footprint of land is disturbed. You have to design taking into account the potential impact on human health, socio-economic and socio-community factors. And you have to consider the entire life cycle of a community and plan for closure in 10 or 20 years’ time. What’s the cost of clean-up when you’re done?”
Governments have become increasingly leery about being left on the hook for project clean-ups, he adds.
“People are now planning projects for closure so they minimize footprint and environmental impact while supporting economic development. I’m also seeing progressive reclamation, in which they remove liabilities as they go rather than waiting 19 years to start.”
As part of that, organizations are increasingly considering modular and portable infrastructure solutions from communications, energy and water-treatment systems to housing and community buildings. The reasons are simple: Modular translates into cheaper to build, faster to deploy, and, more importantly, easier to dismantle, move or recycle.
On the economic front, Mr. Weston notes that the scale of today’s operations is much bigger and the amplitude of these booms and busts are getting larger. Translation: companies need to get operational as quickly as possible to justify the investment.
The outcomes of modular thinking also deliver positive benefits on the environmental front, Mr. Weston says. “Having something that is temporary and can be moved is good from an environmental perspective. And you can scale up or down throughout the life cycle of the project. That’s a much more sustainable approach. And every mining company is thinking that way right now. It’s a new standard for how you do business.”
BioteQ Environmental Technologies Inc. in Vancouver has worked with resource industries on sustainable water treatment technologies. According to company CEO Jonathan Wilkinson, it recently engaged in a project that involved the development of a portable water treatment system for a mine site in northern Canada.
“Everyone is looking for opportunities to shrink their footprint and make things more portable,” Mr. Wilkinson says. “A lot of operations are looking at significant expansion, and need to sustain themselves through that growth. Permanent facilities are expensive and inflexible. Transportable solutions are much more desirable in many cases because they reduce both economic and environmental risk.”
Another aspect that ties into the modular movement is skilled labour shortages and high turnover. Not only do modular solutions reduce the need for skilled
construction hands, they also provide higher-grade living conditions and supporting facilities, such as arenas and schools, that are appealing enough to keep employees and their families comfortable and happy in their environs. The old trailers and metal shelters aren’t nearly enough to ensure employee retention.
That’s a big selling proposition for companies like Sprung Structures in Calgary. The family-owned company produces tension-membrane modular facilities that range in size from barracks, churches and schools to large-scale community recreation-size facilities such as gymnasiums and hockey rinks. Construction can be done by a team of 10 unskilled labourers at a rate of 2,000 sq. ft. per day by 10 workers.
Phil Sprung, president, tells the story of a team of oil company engineers walking through the two-storey modular facility serving as the company’s head office. “They told me they had just finished constructing a new office complex that took two years to build, was 30% over budget, and they had already outgrown it. Then they saw we could have had something finished and operational within 90 days at 70% less cost. All they said was ‘that changes everything for us’. It was one of the greatest meetings we ever had.”
Mr. Sprung touts the buildings as “99% reusable” because, with the exception of the bolts, they don’t corrode. Some of the buildings have had three or four lives — a more sustainable alternative to “bulldozing a site and taking thousands of tonnes of debris to a scrap yard.” Materials are also light enough to be helicoptered in if need be since materials are one-tenth the shipping size.
Out-of-the-box residential housing options have also improved considerably, notes Andrew Libera, president and CEO of RedLeaf Homes Ltd. in Victoria. RedLeaf recently signed on with ICI (Innovative Composites International) to distribute its permanent and portable homes and shelters in Canada. He reports that a 1,000 sq. ft. structure can be erected and ready for plumbing and electrical in about two days at a cost in the $60- to $100-per-square-oot range — a significant savings from more conventional builds that can run $120 to $200 a square foot or higher.
“We’re seeing a lot of interest from the mining community,” he says. “The price point and portability is such that it’s right in their wheelhouse. The best part is they can be dismantled and reused. You don’t need cranes – just some basic hand tools you’d find in any garage.”
Posted by admin on April 22, 2012
Selling a home in a buyer’s market can feel like you’re playing a game you can’t win. But buyers don’t necessarily hold all the cards. “You have to be able to see it from both sides of the table,” says Jeffrey Stanton, who teaches a Realtor certification course in negotiation. Armed with information and a smart strategy, you can play your hand wisely and get the best value for your home.
First, determine the best price you can reasonably expect given the home’s market value and the minimum you can accept. All negotiation will take place somewhere in between those two limits. Your goal is to stay as close to the top of that range as possible.
Next, count your bargaining chips. A buyer’s position is weakened and yours is strengthened by anything the buyer wants that you’re able to provide or withhold. “Price is one of the many things you negotiate for, but you need to make the pie bigger,” says Stanton. Additional slices might include flexibility with the closing or move-in dates, extra items for sale, cash concessions, bragging rights – even the deal itself, since you can always walk away.
1. Price
WHEN TO USE IT: Throughout the process.
HOW TO PLAY IT: The first time the price chip comes into play is when you list your home. Look up similar homes that have sold in the area recently with online tools such as the sold properties link on the Multiple Listing Service site or Newsday’s recent home sales search tool. Use those prices to zero in on your home’s market value and to weed out lowball offers. Padding your asking price to leave room to haggle is not helpful, says Lynne Kleinman of Daniel Gale Sotheby’s International Realty in Manhasset – instead, price it to attract multiple offers. “You’re putting yourself in a position to be bid up if you’ve chosen the correct number.”
When you receive a written offer that’s in the ballpark, you may use a price adjustment as part of your counteroffer. A small move tests the water; a big reduction announces your willingness to negotiate, Stanton says. You can reduce the price more than once to nudge the discussion along, but in a strategic pattern: Your price concessions should get smaller and smaller as the deal progresses. This signals to the buyer that you’re approaching the bottom.
2. Bragging rights
WHEN TO USE IT: When the buyer shows a competitive streak.
HOW TO PLAY IT: “Sometimes in order for you to win, you have the make the other party feel as if they’ve won,” says Stanton. “A lot of people are competitive negotiators who want to win by taking that very last thing off the table.”
And it’s not just about ego – it’s also about nerves. Buyers who fear they could have gotten a better price are more likely to get cold feet, which could jeopardize the deal.
Satisfy the buyer’s need to win with a pattern of increasingly stingy price concessions. This creates the reassuring and gratifying impression that you’ve scraped the barrel and given up every last crumb of value – even if you haven’t.
To enhance this effect, trade away any other chips with conspicuous reluctance, regardless of their actual importance to you – and try to get something you secretly do care about in return.
3. Financial incentives
WHEN TO USE IT: When you’ve got a serious buyer and lack of funds is the only obstacle.
HOW TO PLAY IT: Consider a seller’s concession to bridge the gap: If the price is $300,000 and the buyer needs $6,000 for closing costs, you would pay those costs upfront but raise the price to $306,000. “The purchase price is artificially inflated so the buyer can finance an additional cost,” says Chandra Ortiz, an attorney on the Nassau County Bar Association Real Property Committee. This allows the buyers to make a bigger down payment, or pay points for a lower interest rate, which could increase their purchasing power to close the deal.
There are limitations and risks: The lender will appraise the home and restrict concessions to a certain percentage of the appraised value, which may turn out to be less than the purchase price you and the buyer agreed to. “When it doesn’t appraise at that figure, the bank won’t give additional money to cover the concession,” cautions Ortiz. Include language in your contract to protect yourself from having to pay the concession if the appraisal is low, she advises. Also note that a higher price will cause your transfer tax payment to go up – make sure the buyer agrees to pay for that, she says.
4. Timing
WHEN TO USE IT: When the buyer is on a deadline and you can be flexible – for a price.
HOW TO PLAY IT: “The way it works is whoever has the shorter time frame isn’t negotiating from a position of strength,” says Stanton. Buyers often want or need to close or move in by a certain date – they may be trying to get into their new school district before September, for instance.
If you have the ability to help them meet their deadline, you’ve got currency. Keep it in your pocket and remain noncommittal about dates until you need that extra push.
For instance, if your buyer is considering a competing property but the other sellers can’t vacate soon enough, that closing date could become the deciding factor. It can also help your bottom line, Stanton says. “If I know you have to be in by the first, that may be more important to you than price.”
5. Extras
WHEN TO USE IT: Periodically offer these in place of price reductions, or along with smaller reductions.
HOW TO PLAY IT: This chip could fall into your lap during talks – or it could take some creativity on your part. Pay attention; if a buyer shows interest in something, such as a piano or window treatments, you’ve got yourself an unexpected chip.
The best kinds of extras are those that are of little value to you, but could matter a lot for the buyers. For instance, if you’re leaving a grassy two-acre property for a maintenance-free condo, you won’t be needing that ride-on lawn mower anymore – but your buyers sure could use it. Swap it for a more favorable deal. A home warranty is another good one; it may only cost you a few hundred dollars, but it provides a benefit that could be far more valuable to the new owners. Get something in return for it, even if you planned all along to include it in the sale.
6. Your Plan B
WHEN TO USE IT: When you’ve exhausted your chips without reaching an agreement – or you suspect the buyer is bluffing.
HOW TO PLAY IT: “Buyers feel like they have all the time and all the choices, but when they feel a sense of urgency because another couple wants that house, then the seller holds the cards,” says Diane Saatchi of Saunders & Associates.
Use smart marketing to level the playing field. Pricing, staging and photography are key to attracting buyers – and offering a higher fee will get the agents’ attention, Kleinman says. “Brokerage fees speak very loudly to the agents who will be showing your house.” More showings could translate into more offers – and a better bargaining position.
Reserve the right to keep showing your home if the deal is contingent upon the buyer’s home getting sold and look into the possibility of renting out the place. This will ease your pressure – and, if all else fails, it allows you to walk away. It’s not easy, but sometimes that’s your best option – either your buyer will reconsider, or you’ll get yourself out of an unacceptable deal.
By: KRISTIN TAVEIRA
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Bed
If a king-size bed is your choice then opt for the split-box spring. Each piece is the size of a single box spring, which makes it easy to move around in tight spaces. You can also choose two smaller mattresses (called twin plus), which is great for customizing your comfort level from one side to the other, and still enjoy the size of a king bed. Co-ordinate the split bed with one king-size headboard and bedskirt to give a finished king-size look to the bed.
Couch
If a comfy sofa is just too large to be brought up a skinny staircase, consider a grouping of lightweight, small-scaled club chairs. You’ll create a lounge feel with the chairs around a cocktail table or large round ottoman and you’ll be seating as many people as if you had the traditional sofa and chair set. Plus, you’ll have more flexibility for re-arranging the furniture during holidays and parties (see the Tess Chair, above).
Forget about a sleeper sofa altogether; not only are they heavy, they are usually much deeper in size than a regular sofa (the extra depth helps contain the mattress mechanism).
Cabinets
Armoires and china cabinets too large? Find furnishings that disassemble or can be placed together once inside the desired room. If choosing a china cabinet, make sure it comes in the form of a credenza and hutch; each piece will be easier to move up and down stairs.
You can also purchase three or four smaller cabinets or bookshelves and line them up along a long wall for the look of one large piece of furniture (see the Stockholm Glass Cabinet, left).
Like a ‘ship in a bottle’
Here’s a list of easily-moved items that can offer big impact and still move easily up the stairs:
• Area rugs. Look for colourful, large patterned rugs to fill a room with style.
• Draperies. Make small windows look larger by hanging draperies on the dead wall space beside windows.
• Artwork. A big mirror or a piece of art helps create a focal point in a room and offers something large-scale without taking up precious floor space.
• Paint. If you’ve got a naturally dark room in your place paint it a dark colour for unexpected drama.
• Lighting. Whether you are renting or own your home, new lighting is a great way to make a place feel sexy at night. A single spotlight on a piece of art or a dramatically painted wall washed with light will help create a special mood in your new place.
By: Karl Lohnes
Posted by admin on April 16, 2012
It would take six months to sell all the distressed homes that have not yet hit the market — a shorter time than a year ago, but still a worrisome number, according to national estimates by CoreLogic.
In January there were 1.6 million homes in the “shadow inventory” of homes with delinquent mortgages or other signs of distress that have not been listed for sale, the data provider reported Wednesday morning.
For every two homes on the market, one is in the shadows, according to CoreLogic. The number is virtually unchanged from October, but down from last January, when there were 1.8 million homes in the shadows — an eight-month supply.
A healthy real estate market would have less than a one-month supply of “shadow” homes, which could be absorbed without dragging prices down by much, according to the data provider.
CoreLogic did not report on Long Island’s shadow inventory. However, the data provider found that 10.4 percent of homeowners in Nassau and Suffolk counties were at least 90 days delinquent on their loans in January, up slightly from 10.1 percent a year before. The Island has a 6.4 percent foreclosure rate, CoreLogic reported.
Of all the homes in the national shadow inventory, about half are seriously delinquent on their loans, one quarter are in some stage of foreclosure and one quarter are bank-owned, also known as REO, according to Core Logic.
“The shadow inventory remains persistent, even though many other metrics of the housing market show signs of improvements,” said Anand Nallathambi, president and chief executive of CoreLogic. “In some hard-hit markets, the demand for REO and distressed property is now outstripping supply. As we move into what is traditionally the peak selling season for real estate, servicers will certainly be watching closely to see if now is the time to move more inventory out of the shadows.”
CoreLogic estimates the shadow inventory by calculating the number of distressed properties not currently listed on multiple listing services that are seriously delinquent, in foreclosure or bank-owned.
By: Maura McDermott
Posted by admin on April 2, 2012
So it’s officially a buyers’ market, and you’re all geared up to find a home that makes your heart sing.
But, despite advantages in the buyers’ favor, at least for now – prices that still seem to be falling, low interest rates and lots of houses to choose from – smart house-hunters need to be wary of the pitfalls of buying.
And take care.
We spoke to experts – real estate agents, mortgage brokers, bankers and attorneys – for their advice to buyers.
1. Make a list
If you don’t figure out just what you want, you might just buy the wrong house.
“I always say this to all the young buyers: They have to decide where they want to live and what they’re looking for in a home,” says Michelle Cohen, associate broker and executive vice president for Century 21 Laffey Associates in Greenvale.
“Does it have the proximity to your job? Especially now, with the cost of transportation so high, it might make more sense to look for a house close to your place of business.”
You also have to look at the cost of owning a home – again, with fuel costs high, how much will heating it run you? If it has a large piece of property, keeping it up costs either time (if you do it) or money (if others do), she says. How is the school district? Can you afford the taxes? (They will only go up.)
“You should sit down and write a list of what you’re looking for in a home, and really do your homework,” Cohen says. Even a house that seems like a bargain may not be one if it doesn’t meet your needs.
2. Check it out
Avoid a nasty financial surprise that could ruin a deal.
“I think education is extremely important right now,” says Jeff Barker, Bank of America’s regional executive for consumer banking. “The buyer should fully understand what will be asked of him or her when they are ready to apply for the mortgage.”
It’s important to check your credit reports to see if you can fix any mistakes, he says. And be sure to figure out how much house you can afford – most lenders, including Bank of America, have online tables that will help you figure it out.
You’ll need to get your financial records in order – proof of income, tax records, a solid source for a down payment and the like, he says. Then, get prequalified so you can show a seller you’re a serious buyer who’s ready to go.
Barker says that, even though lenders may be taking more care than in the past, “it’s not a difficult process for people who can afford a mortgage.”
3. First, hire a lawyer
Fools act as their own attorneys in real estate, too – you could get burned. Badly.
You might think you can wait until the closing to hire an attorney – but things can go wrong, so it’s a good idea “from the get-go” to find a good lawyer, says Elysia Prinz, manager of Coach Realtors’ Northport office.
And they’re surprisingly affordable – most attorneys charge a flat fee for the entire real estate transaction, and you’ll probably pay somewhere between $1,000 and $1,500 locally, experts say.
It’s a good idea to have your lawyer look over any legal document before you sign it – no matter how boilerplate it might look, including an agreement with a broker, says David Sappé, a Huntington attorney with a practice concentrating in real estate law. “As soon as they’re out in the market and serious about buying or selling, they should have an attorney – from that first binder handshake,” he says. “There’s no premium that you have to pay for lining up an attorney before or after.” If you don’t have recommendations, he says, you can check with the state or local bar association.
Look at it this way, he says: When else would you get involved in “a half-million-dollar transaction” without protecting yourself legally?
4. Working for you
Not all real estate brokers are alike – and remember, most of them are representing the homeowner. Not you.
Ask friends, neighbors and relatives for recommendations, and find an experienced person who makes you feel comfortable.
Especially if you’re a first-time buyer, you might want to consider hiring a buyers’ broker to represent your interests. (It won’t cost you any more – their fees are split with the seller’s agent, as in any real estate transaction.)
Even brokers who take you around are working for the seller (which is their legal obligation), not for you, unless they’re specifically a buyers’ broker – a concept more common elsewhere in the country, but catching on here.
A buyers’ broker “might be able to do a little better job negotiating,” says Prinz of Coach Realtors. Plus, she adds, a broker representing a seller is not required to reveal things or find things out about the property or neighborhood that might be negative – for example, if a local planning committee is considering an action that would mean “that lovely piece of land that you’ve been looking at, that greenbelt, is going to be an industrial park,” she says.
A buyers’ broker, on the other hand, should do that kind of research for you.
5. Have a cushion
Don’t use a fly-by-night broker (or bank) to finance your mortgage, or you could blow the deal.
No one who’s followed the news in recent months about failing mortgage companies – and even banks – should take the prospect of financing a house lightly.
Make sure you deal with a reputable mortgage broker or a bank, says Robert Bram, senior loan officer for Preferred Empire Mortgage Co. of Melville, an affiliate of Prudential Douglas Elliman Real Estate. And, he says, it’s important that you have a bit of a cushion when you apply for a mortgage in case the situation changes. “The market is changing,” Bram says. “There could be some fluctuations in the interest rate.” You shouldn’t be “down to your last dime.”
If the interest rate suddenly goes up half a point, you shouldn’t be so tight that you can no longer afford the mortgage – not to mention having a fund for repairs and emergencies.
6. Get good advice
Listen to the experts, not your Aunt Bertha – it’s likely she doesn’t know what she’s talking about.
You could drive yourself crazy trying to sort through all the doom and gloom in the news as well as “advice” from people who may have your best interests at heart but don’t know what they’re talking about.
Talking to relatives who don’t own houses but feel free to give advice is “a sure deal killer,” says Michael Daly, principal broker for Beach Properties of the Hamptons in North Haven and author of The Hamptons Real Estate Blog (thehamp tons.wordpress.com).
And “telling your cousin you’re about to buy a house and having him scream, ‘You’re crazy!’” doesn’t help either, he says.
You’ve put together a team of professionals – a broker, a financial adviser, a real estate attorney – so listen to them. That’s what you’re paying for.
7. Don’t skip the report
Don’t buy a lemon (but sometimes, a lemon-in-waiting can help you make lemonade).
When we’re talking about professionals, by no means skip that all-important engineering report.
The seller should handle serious issues, such as removing an underground oil tank or fixing any serious problems with plumbing or electrical systems – and these can be negotiating points. If the house has serious issues and the seller doesn’t want to address them, the best bet might be to walk away, experts say.
But something that comes up on the report could help you bargain for a lower price – that is, if it’s not something vitally important that makes buying the house questionable.
On the other hand, you’re not buying perfection. On a used house, Sappé says, “wear and tear” – say, some outside boards that have rotted, or painting that needs to be done, or the like – are not the seller’s responsibility to fix.
An engineering report can sometimes kill a deal, says Joan Silverman, a Northport attorney whose practice concentrates on real estate.
“Buyers kind of want it perfect, and sellers feel like they don’t want to give it away,” she says – adding that both buyers and sellers need to be reasonable and compromise.
8. It’s not a fire sale
Don’t insult the sellers – if you do, you might never have another chance at their house.
A lowball offer might work – but it might bring only hostility. Let your agent guide you about a negotiating price.
Rick Hoffman, senior regional vice president of the East End for The Corcoran Group, says, “Don’t go out there and think that there’s a fire sale going on, especially on the East End. There are bargains to be had, but it’s not a fire sale, and if a buyer comes in and makes an unreasonably low offer, you’re going to lose because you’ll insult the seller, and they won’t negotiate with you.
“Everyone thinks that their house is special,” Hoffman says. “People are emotionally attached to their homes, they have memories, and they’ve raised their family there. And sometimes, that’s not evident to a buyer. People need to remember that. Just be sensitive to it.”
It’s important to justify your offer, he says. “You can say, ‘I’ve looked at the properties around, I love your home, but it needs this, this and this.’ If you can maintain an amiable relationship between the parties, that helps facilitate the transaction, and that’s what a good broker does.”
9. The short and long
Don’t try to buy a short sale – unless you don’t care about the time.
Short sales, in which a lender will agree to accept less than what the homeowner owes and thus avoid foreclosure, are becoming more common on Long Island, says Philip Tesoriero of Gelip Inc. Consulting of Amity Harbor, a broker and consultant who teaches seminars about short sales for Realtors around the country.
But they can take much longer than the typical real estate transaction. “In this current market, you have to be prepared to be patient,” Tesoriero says. Whereas, a regular house sale could close within 30 days, a short sale could easily take eight to 12 weeks, he says.
Are they worth waiting for?
“I think they could be excellent deals for a person who could be a do-it-yourselfer or a contractor,” he says. But since these houses were owned by homeowners in financial trouble, he says, don’t underestimate necessary repairs – which could make what seems like a good deal a poor deal. Short sales, he says, “could run into a lot of money for people.”
By: Peggy Brown
Posted by admin on November 14, 2011
After a flood, it’s important to restore your home to good order as soon as possible to protect your health and prevent further damage to your house and belongings. Whether you do the work yourself or hire a contractor, this handy checklist will help you organize the clean up.
Immediate action is important. Your house and furnishings are less likely to grow mold if they are dried within 48 hours.
Before You Begin
- Put your own safety first. Avoid electrical shock. Wear rubber boots. Keep extension cords out of the water. Shut the power off to the flooded area at the breaker box. Ask your electrical utility for help if needed.
- Record details of damage, with photos or video if possible. Contact your insurance agent immediately and register with your municipality—your municipality may have resources you need, such as future financial assistance.
- Set up a step-by-step action plan to:
- remove all water, mud and other debris
- dispose of contaminated household goods
- rinse away contamination inside the home
- remove the rinse water
- clean and dry out your house and salvageable possessions.
- Be prepared to make difficult decisions about what to keep and what to throw out. Household items that have been contaminated by sewage, or that have been wet for a long time, will have to be bagged, tagged and discarded according to local regulations.
- Assemble equipment and supplies:
- gloves, masks (N95 respirators) and other protective gear
- pails, mops, squeegees and plastic garbage bags
- unscented detergent
- large containers for wet bedding and clothing, and lines to hang them to dry
- you may also need to rent extension cords, submersible pumps, wet/dry shop vacuums, and dehumidifiers or heaters.
- Store valuable papers that have been damaged in a freezer until you have time to work on them.
First Steps
- Remove standing water with pumps or pails, then with a wet/dry shop vacuum.
- Remove all soaked and dirty materials and debris, including wet insulation and drywall, residual mud and soil, furniture, appliances, clothing and bedding.
- Hose down any dirt sticking to walls and furnishings, then rinse several times, removing the remaining water with a wet/dry shop vacuum. Rinse, then clean all floors as quickly as possible. Flooring that has been deeply penetrated by flood water or sewage should be discarded.
- Work from the top down. Break out all ceilings and walls that have been soaked or that have absorbed water. Remove materials at least 500 mm (20 in.) above the high-water line. Removing only the lower part of the wall applies if action is taken immediately after the flood or wetting event. Gypsum board walls that have been exposed to high humidity or standing water for a prolonged period of time should be removed in their entirety and discarded. Ceiling tiles and panelling should be treated like drywall.
- Wash and wipe/scrub down all affected or flooded surfaces with unscented detergent and water. Rinse. Repeat the process as needed. Concrete surfaces can be cleaned with a solution of TSP (tri-sodium phosphate) in water (one half cup TSP to one gallon of warm water).When using TSP, which is highly corrosive, wear gloves and eye protection.
Bleach is NOT recommended
The presence of organic (humic) materials, the pH (acidity/alkalinity) of the water, the surface material and contact time affect the effectiveness of bleach for disinfection. Since these factors are not generally controlled, bleach cannot be relied upon for disinfection.The most compelling reason for advising against bleach is that fumes are harmful but in addition, overuse of bleach will result in increased releases of chlorinated effluents which can be harmful to the environment.
- Surfaces that are dry and/or have not been directly affected by the flood water should be vacuumed with a HEPA vacuum cleaner. Further cleaning of concrete surfaces can be done with TSP. Washable surfaces can be washed with unscented detergent and water. Surface mold on wood can be removed with a vacuum-sander. Do not sand without simultaneous vacuuming.Wood that looks moldy after sanding may need to be replaced.
- After cleaning the surfaces, ventilate or dehumidify the house until it is completely dry. Rapid drying is important to prevent mold growth. When the outside weather permits (low humidity and moderate temperature), open doors and windows and hasten the drying process with fans. If the outside weather is not suitable and you notice that drying is not happening fast, use dehumidifying equipment, renting extra units as necessary.
To determine if the outdoor air can help dry the air inside, place a hygrometer in the area to be dried. Let it stabilize then open a window and monitor the Relative Humidity (RH). If it goes down then it means the air is dry enough to assist the drying process. If the RH increases, close the window.
- Carpets must be dried within two days. Sewage-soaked carpets must be discarded. Homeowners can’t effectively dry large areas of soaked carpets themselves. Qualified professionals are required.
- Ensure that all interior cavities and structural members are completely dry (which could take weeks) before closing cavities.
What to Keep or Discard
- Discard and replace all insulation materials, and all less-expensive articles that have been soaked, including particleboard furniture, mattresses, box springs, stuffed toys, pillows, paper and books.
- Separate valuable papers. Ask a lawyer whether you should save the papers themselves or just the information on them.
- The frames of good quality wood furniture can sometimes be salvaged, but must be cleaned and dried by ventilation away from direct sunlight or heat. Consult a furniture restoration specialist. Coverings, paddings and cushions must be discarded and replaced.
- Scrape heavy dirt from washable clothes, rinse and wash several times with detergent and dry quickly.
Before Moving Back In
- Do not use flooded appliances, electrical outlets, switch boxes or fuse/breaker panels until they have been checked by your local utility.
- If they have been soaked, consult an HVAC (Heating,Ventilation and Air Conditioning) contractor to replace the furnace blower motor, switches and controls, insulation and filters. Inspect all flooded forced air heating ducts and return-duct pans and have them cleaned out or replaced. Seek advice from your local utility about a water heater that has been wet. Refrigerators and freezers may need to be replaced.
- Flush floor drains and sump pits with detergent and water and scrub them to remove greasy dirt and grime. Clean footing drains outside the foundation if necessary.
By: CMHC
