Champaign,Urbana, Mahomet, St. Joseph area homes look good!

by qcregm 5. March 2012 04:24

Champaign, Urbana, Mahomet, St Joseph and area homes and real estate are approaching a shifting of the tides in our markets

"Housing is one of the great investments right now. I tell people all the time when they come up to me, they say, "What should I do, Mr. Trump?" I say go buy a house," said Donald Trump recently in an appearance on CNBC.

"It wouldn't be an obvious mistake to buy a house now," hedged famed economist Robert Shiller, barely a few hours later.

Perhaps they were just jumping off legendary investor Warren Buffett's recent declaration that if he had a way to manage them, he would buy a couple of hundred thousand single family homes and rent them out.

Housing appears to be rated a "buy" these days, especially among investors, who see a ripe and rising rental market and big potential for income.

But is it the right time yet for what I call "organic" buyers to get in? By this, I mean people buying a home to actually live in it, raise a family in it, let the dog run around in the back yard. If prices are still falling, couldn't an even better deal be waiting down the road a bit?

No. House prices will continue to fall on a national basis at least through 2012, but you have to look past national headlines to your local market, which is likely already recovering nicely. The trouble with the national numbers is that they are heavily weighted toward the lower end of the market and to the distressed end of the market.

Around 73% of homes that sold in January were priced below $250,000, according to the National Association of Realtors. Forty-seven percent of homes sold that same month were considered "distressed," which is either a foreclosure or a short sale (where the lender allows the borrower to sell for less than the value of the mortgage). With all the activity in these areas, no surprise that prices skew lower.

The $250,000 to $500,000 price range may now be the sweet spot for the market. Sales in January were up in this price range, and if you have good credit, you are within GSE and FHA loan limits in most markets. While FHA just raised its insurance premiums, which may hurt much-needed first-time homebuyer demand, it is still one of the best loan products out there today, especially for those with lower down payments.

You cannot time housing any more than you can time the stock market. True, housing moves far more slowly, but that works to its benefit, as prices don't rise and fall on daily news or even on major events. Sales have clearly bottomed in housing, and prices always lag sales. They will lag longer this time around, no question, but they will come back.

Supply and demand will eventually win out, even after an historic crash. If you can't get a good mortgage now, then perhaps it's not your time, but if you can, waiting may not buy you much.

Start Packing

Creg McDonald
--
Creg McDonald
The McDonald Group
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Champaign, IL.  61821

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Market Value Of Your Home

by qcregm 10. February 2012 02:19

Market Value?  What the Heck Does That Mean, Exactly?

 

Fannie Mae defines Market Value as “The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. “  It goes on to say “Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby:  (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised, and each acting in what he considers his own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U. S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale.”

 

THAT'S NOT REALLY HELPFUL, IS IT?

 

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In layman’s terms, Market Value is is what a Buyer is willing to pay and what a Seller is willing to accept in today’s market, assuming both parties are well informed about comparable sales in the area and that there aren’t any financing perks thrown into the deal, like a property trade.  (  ie:  I’ll buy your 3 bedroom colonial and I’ll give you $50,000 cash, my pontoon boat, and my time share in Florida.  That might be a great transaction for both parties, but it’s not useful in determining market value.)

 

 

Determining Market Value is a lot of science and a little art, and you really do need someone who knows what they are doing to help you.  

 

THERE ARE NUMEROUS FACTORS THAT IMPACT MARKET VALUE

 

Location.  We’ve all heard “location, location, location.”  It does matter.  Different neighborhoods within the same city can have completely different market values for similar size/style homes just because of the location.  Is there a factory going in across the street?  A golf course next door? How about a neighborhood park?  Or a major highway directly behind the house?  These things matter when comparing homes.

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Age of home.  A home built in 1890 is just not a good comparable for a home built in 2010…just think about the changes in electrical code in that period of time!

Square footage of home and size of lot.  Frequently, larger homes and lot sizes have higher market values, however the law of diminishing returns does eventually step in.  Bigger is not dollar for dollar forever.  For example, just because a 2 acre lot in Monmouth, ME sold for $30,000 does not mean that a 40 acre lot in this same town should sell for $600,000 (using $15,000/acre as an example).  A 2,000 sq. ft. ranch is not the same home as a 1,000 sq. ft. ranch, even if they are in the same neighborhood.

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Layout/Style.  Ranch homes are not good comparables for 2 story colonials.  A two bedroom home is absolutely not in the same class as a 4 bedroom home. In areas where one particular layout is preferred (sells quickly) that layout probably has a higher market value…all other factors taken into consideration.  (Like location, for example.)

Condition.  THIS FACTOR IS COMPLETELY WITHIN A SELLER’S CONTROL.  A home is good condition is going to have a higher market value over a comparable home in fair or poor condition.

Sale prices of recently sold properties.  Not what they LISTED for.  What they SOLD for.  And it has to be recent sales – it’s about the market TODAY, not two year ago.  The look back period is generally the preceeding 6 months, however sometimes the preceeding 12 months must be used if there haven't been many sales in the area.

Current competing properties.  How many comparable properties are on the market?  If there is a large inventory of properties for sale, like the recent real estate market, market values will be lower.  Remember Economics and Supply and Demand?

 

AND THEN THERE IS THE STUFF THAT JUST DOESN'T MATTER

 

The price you originally paid for the property.  Doesn’t matter.  What you paid 8 years ago has absolutely no influence on what a buyer TODAY is willing to pay.  The market today will be completely different from the market 5 years from now.  The only thing that matters is what is happening TODAY.

How much money you WANT to walk away from the sale with.  Sorry, this doesn’t matter either if the current real estate market does not justify the higher price.

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How much money you NEED to walk away from the sale with.  Nope.  Not a factor.  Buyers  care about how much the property is worth based on the current market.  That’s why we are seeing so many Short Sales in the current real estate market.  These properties are selling for less than the owners owe (need.)

How much it would cost to rebuild today.  Frequently, this subject comes up in conjunction with insurance. (“My homeowner’s policy says my house is worth $500,000!  How can you tell me that it has a market value of $350,000?”)  Insurance policies are about risk.  What materials are used in the property’s construction and how fast do they burn?  Are there any potentially injurious items on the property?  (ie:  trampolines) Do you live in a high crime area?  What is your credit score? 

Personal opinions of family, friends, neighbors.  Your neighbor, who used to be a real estate agent but is now selling cars, says it’s worth X. Your wife’s uncle’s best friend says the house the next street over sold for X so your home should be worth Y because it’s in WAAAAY better condition.  Local neighborhood gossip says that Fred and Ginger down the road got Z for their house!  It’s great that there are so many people in your life ready to help you, but their opinions JUST DON'T MATTER.

 

BUT THERE IS HELP!

 

Bottom line:  if you are getting ready to sell your home, you need the facts about what is going on in your market so you can make the best decisions possible about the Market Value of your home. If you are in the greater Augusta, ME real estate market, give me a call and I will be happy to help you!

 

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General | General, fixer uppers, maintenance | Market Update

Champaign County Real Estate Market

by qcregm 2. February 2012 06:31

I found this article very interesting.  The national market trend is improving.  A little job growth and we can all be more at ease.http://realestate.msn.com/article.aspx?cp-documentid=23505825

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Champaign Real Estate: Is the Market Stable?

by qcregm 31. January 2012 12:19

The real estate market in Champaign County is a bit of a moving target.  Our office has been very busy, but those looking to buy a home still have the upper hand in the process.  There are over 1,700 homes still on the market and that number is expected to rise as the spring season approaches.  Around 1,200 homes would make it an even playing field but we are not quite in that range yet.  There are some areas of our market that are under served and some inventories are getting lower, but i believe it will still be some time before we achieve a neutral market overall.  One month does not make a trend, but it is a good start.

Start Packing

Creg

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General | General, fixer uppers, maintenance | Market Update

Champaign County Looking Up

by qcregm 19. January 2012 11:06

It is almost hard to comprehend, but there is a shortage of homes on the market in certain price ranges in Champaign County.  We have clients right now that can't find a home to purchase in the upper price range.  Why has that happened?  The short version is demand has caught up with our supply.  Good old fashion capitalism strikes again.  For good reason, people have not been moving up to more expensive homes due to uncertainty in our economy.  They have been making do with what they have but now see the worst may be in the rear view mirror and are starting to move upwardly.  Families are still growing but higher end builders stopped building while this group sat on the sidelines and we have caught up.  Good news for all in our economy.  It is the first sign I have seen that is pointing to a strong stabilization in our marketplace, so let's celebrate.  I am not claiming to be out of the woods yet, but there is certainly some optimism in the air so take a big drink of the half full glass.

Start packing,

 

Creg

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Cool Smartphone Apps for Buyer's

by qcregm 27. September 2011 12:14

There are more tools than the local MLS (multiple listing service) and real estate signs these days to help homebuyers in their search for the perfect home:  

Check out this MSN article featuring cool apps for your smartphone:

It's 2011, so why is your homebuying search stuck in 1975? You need to put the smarts in your smartphone and put it to work.

Today there are dozens of cheap — even free — applications you can download that can make your homebuying quest easier and savvier than ever before.

We've rounded up some of the best apps for you. They work on multiple varieties of smartphones unless otherwise stated.

So go ahead and download 'em, take 'em for a test drive … then hit the spring open-house circuit. This time, you're guaranteed to waste less time finding a new "home sweet home."

Tools to help you find a home — all with GPS

         -Realtor.com says its app has more listings — reportedly more than 3 million — than any other app in the country. You can highlight areas of town to search, check for homes for sale near you and search for open houses. Most homes show multiple photos as well as pricing and open-house info. (Free.)

         -ZipRealty allows the user to view listings in nearly 5,000 cities — including asking price, photos, distance from where you are, etc. The app also allows you to see homes that have sold recently. (Free.)

-Zillownot only lets you see listings and the estimated worth of any home — not just homes for sale – but also has rental-rate estimates. (Free.)

 

Navigating the real-estate maze

         -Dictionary of Real Estate Terms. Baffled by a bilateral contract? Confused by carrying charges? You need this dictionary. ($1.99 for iPhone and iPad. Other dictionaries available for different devices.)

         -Mortgage Calculator.  A solid calculator to help steer you through the finances of a home purchase, this calculator computes monthly rate, price per square foot and your amortization schedule. (99 cents for iPad and iPhone. Other calculators available for different devices.)

-Can you afford that home? Home Buying Power lets you input variables — desired payment or income percentage, plus down payment, loan term and interest rate — and then tells you how much house you can afford to pay for on a monthly basis. ($1.99 for iPad and iPhone.)

 

Choosing the right city and neighborhood

         -Learn your neighborhood: With Wikihood, you can get a mini-tour of most any neighborhood in the world — everything from the history to the culture to companies in the area. (Free for iPad and iPhone.)

         -Wonder where that smell is coming from? Worried by those airplanes flying low overhead? You need Suburb Scout. This app allows users to search for possible nuisances near a home — airports, landfills, sewage-treatment plants and more.  ($1.99 for Android.)

         -Are you worried about sex offenders? Consider getting Safe Neighborhood. This app gives you access to the National Sex Offender Registry and can tell you locations of sex offenders in your area. It's a little controversial — not only can you search by address, but you can pull up names and pictures of the offenders. (Free for Android.)

         -Trying to pick a new city? You might want to look at the crime statistics. The app Crime Stats lets you see statistics on several violent crimes and property crimes for cities nationwide, using FBI data. The app also lets you compare those stats to the national average and to other cities. (99 cents for iPhone and iPad.)

         -Want to know what kind of amenities your neighborhood has? Download the Walk Score app. It gives a home a score of up to 100, based on residents' ability to walk to things such as a grocery, a pub, etc. The better the score, the more walkable the neighborhood. Somewhat related, Around Me tells you the distances to key spots such as banks, coffee shops and post offices. (Both are free for iPhone and iPad.)

         -SiteWise gives the demographics of your prospective home's immediate area, using info up to and including the 2010 Census. The app creates a demographic report that includes population by age, education level, number of children, household income, number of renters versus owners and more. ($9.99 for Blackberry and iPhone users.)

 

When looking hard at a home 

         -Photo Measures is an app that lets you take pictures of, say, a room and then allows you to save your measurements of the room's dimensions on the photos. You can take photos during your walk-throughs of an appealing house, note the dimensions of walls and doors and cabinets, then plan your space and refer to the measurements later. ($4.99 for iPhone.)

         -ColorSmart.With paintmaker Behr's ColorSmart app, you can visualize colors in your prospective home. Just take a photo, then fill in the walls with a Behr paint color to check out the new look. (Free for iPhone and iPad.)

You now have 15 new ways to find your perfect home — and no excuses.

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WHEW! Is is hot out or what?????

by qcregm 7. June 2011 12:11

When Mother Nature decides to turn up the heat many people think of the costs asociated with cooling their home or business.  The following tricks and tips can help reduce your cooling costs without being miserable.

Cooling Your Home Naturally

 This information provides some common sense suggestions and low-cost retrofit options to help you "keep your cool"- and save electricity.

Staying Cool

An alternative way to maintain a cool house or reduce air conditioning use is natural (or passive) cooling. Passive cooling uses non-mechanical methods to maintain a comfortable indoor temperature.

The most effective method to cool your home is to keep the heat from building up in the first place. The primary source of heat buildup (i.e., gain) is sunlight absorbed by your house through the roof, walls, and windows. Secondary sources are heat generating appliances in the home and air leakage. Specific methods to prevent heat gain include reflecting heat (i.e., sunlight) away from your house, blocking the heat, removing built up heat, and reducing or eliminating heat generating sources in your home.

Reflecting Heat Away

The most effective method to cool your home is to keep the heat from building up in the first place. Dull, dark colored home exteriors absorb 70% to 90% of the radiant energy from the sun that strikes the home's surfaces. Some of this absorbed energy is then transferred into your home by way of conduction, resulting in heat gain. In contrast, light colored surfaces effectively reflect most of the heat away from your home.

Installing a radiant barrier

Radiant barriers are easy to install. It does not matter which way the shiny surface faces - up or down. But you must install it on the underside of your roof - not horizontally over the ceiling, and the barrier must face an airspace.

For your own comfort while in the attic, install the radiant barrier on a cool, cloudy day. Use plywood walk boards or wooden planks over the ceiling joists for support. Caution: Do not step between the ceiling joists, or you may fall through the ceiling.

Staple the foil to the bottom or side of the rafters, draping it from rafter to rafter. Do not worry about a tight fit or small tears in the fabric; radiant transfer is not affected by air movement. The staples should be no more than 2 to 3 inches (5 to 8 centimeters) apart to prevent air circulation from loosening or detaching the radiant barrier. Use a caulking gun to apply a thin bead of construction adhesive to the rafters along the seams of the foil barrier. This will make the installation permanent.

Roofs

About a third of the unwanted heat that builds up in your home comes in through the roof. This is hard to control with traditional roofing materials. For example, unlike most light colored surfaces, even white asphalt and fiberglass shingles absorb 70% of the solar radiation. One good solution is to apply a reflective coating to your existing roof. Two standard roofing coatings are available at your local hardware store or lumberyard. They have both waterproof and reflective properties and are marketed primarily for mobile homes and recreational vehicles. One coating is white latex that you can apply over many common roofing materials, such as asphalt and fiberglass shingles, tar paper, and metal.

A second coating is asphalt based and contains glass fibers and aluminum particles. You can apply it to most metal and asphalt roofs. Because it has a tacky surface, it attracts dust, which reduces its reflective somewhat.

Another way to reflect heat is to install a radiant barrier on the underside of your roof. A radiant barrier is simply a sheet of aluminum foil with a paper backing. When installed correctly, a radiant barrier can reduce heat gains through your ceiling by about 25%. (see box for information on installing a radiant barrier.)

Radiant barrier materials cost between $0.13 per square foot ($1.44 per square meter) for a single-layer product with a kraft-paper backing and $0.30 per square foot ($3.33 per square meter) for a vented multiflora product with a fiber-reinforced backing. The latter product doubles as insulation.

Walls

Wall color is not as important as roof color, but does affect heat gain somewhat. White exterior walls absorb less heat than dark walls, and light, bright walls increase the longevity of siding, particularly on the east, west, and south sides of the house.

Windows

Roughly 40% of the unwanted heat that builds up in your home comes in through windows. Reflective window coatings are one way to reflect heat away from your home. These coatings are plastic sheets treated with dyes or thin layers of metal. Besides keeping your house cooler, these reflective coatings cut glare and reduce fading of furniture, draperies, and carpeting.

Two main types of coatings include sun-control films and combination films. Sun-control films are best for warmer climates because they can reflect as much as 80% of the incoming sunlight. Many of these films are tinted, however, and tend to reduce light transmission as much as they reduce heat, thereby darkening the room.

Combination films allow some light into a room but they also let some heat in and prevent interior heat from escaping. These films are best for climates that have both hot and cold seasons. Investigate the different film options carefully to select the film that best meets your needs. Note: do not place reflective coatings on south facing windows if you want to take advantage of heat gain during the winter. The coatings are applied to the interior surface of the window. Although you can apply the films yourself, it is a good idea to have a professional install the coatings, particularly if you have several large windows. This will ensure a more durable installation and a more aesthetically pleasing look.

Blocking the Heat

Two excellent methods to block heat are insulation and shading. Insulation helps keep your home comfortable and saves money on mechanical cooling systems such as air conditioners and electric fans. Shading devices block the sun's rays and absorb or reflect the solar heat.

Insulation

Weatherization measures - such as insulating, weather stripping, and caulking - help seal and protect your house against the summer heat in addition to keeping out the winter cold. The attic is a good place to start insulating because it is a major source of heat gain. Adequately insulating the attic protects the upper floors of a house. Recommended attic insulation levels depend on where you live and the type of heating system you use. For most climates, you want a minimum of R-30. In climates with extremely cold winters, you may want as much as R-49.

Wall insulation is not as important for cooling as attic insulation because outdoor temperatures are not as hot as attic temperatures. Also, floor insulation has little or no effect on cooling.

Although unintentional infiltration of outside air is not a major contributor to inside temperature, it is still a good idea to keep it out. Outside air can infiltrate your home around poorly sealed doors, windows, electrical outlets, and through openings in foundations and exterior walls. Thorough caulking and weather stripping will control most of these air leaks.

Shading

Shading your home can reduce indoor temperatures by as much as 20°f (11°c). Effective shading can be provided by trees and other vegetation and exterior or interior shades.

Landscaping

Landscaping is a natural and beautiful way to shade your home and block the sun. A well placed tree, bush, or vine can deliver effective shade and add to the aesthetic value of your property. When designing your landscaping, use plants native to your area that survive with minimal care. Trees that lose their leaves in the fall (i.e., deciduous) help cut cooling energy costs the most. When selectively placed around a house, they provide excellent protection from the summer sun and permit winter sunlight to reach and warm your house. The height, growth rate, branch spread, and shape are all factors to consider in choosing a tree. Vines are a quick way to provide shading and cooling. Grown on trellises, vines can shade windows or the whole side of a house. Ask your local nursery which vine is best suited to your climate and needs.

Besides providing shade, trees and vines create a cool microclimate that dramatically reduces the temperature (by as much as (9°f [5°c]) in the surrounding area. During photosynthesis, large amounts of water vapor escape through the leaves, cooling the passing air. and the generally dark and coarse leaves absorb solar radiation. You might also consider low ground cover such as grass, small plants, and bushes. A grass-covered lawn is usually 10°f (6°c) cooler than bare ground in the summer. If you are in an arid or semiarid climate, consider native ground covers that require little water.

Planning Your Planting

Placement of vegetation is important when landscaping your home. The following are suggestions to help you gain the most from vegetation.

       - Plant trees on the northeast-southeast and the northwest-southwest sides of your house.  Unless you live in a climate where it it hot year round, do not plant trees directly to the south.  Even the bare brances of mature deciduous trees can significantly reduce the amount of sun reaching your house in the winter.             

      - Plant trees and shrubs so they can direct breezes.  Do not place a dense line of evergreen trees where they will block the flow of cool air around or through them.

     - Set trellises away from your house to allow air to circulate and keep the vines from attaching to your house's facade and damaging it's exterior.  Placing vegation too close to your house can trap heat and make the air around your house even warmer.

     - Do not plant trees or large bushes where their roots can damage septic tanks, sewer lines, underground wires or your house's foundation.

    - Make sure the plants you choose can withstand local weather extremes.

Shading Devices

Both exterior and interior shades control heat gain. Exterior shades are generally more effective than interior shades because they block sunlight before it enters windows. When deciding which devices to use and where to use them, consider whether you are willing to open and close them daily or just put them up for the hottest season. You also want to know how they will affect ventilation.

Exterior shading devices include awnings, lovers, shutters, rolling shutters and shades, and solar screens. Awnings are very effective because the block direct sunlight. They are usually made of fabric or metal and are attached above the window and extend down and out. A properly installed awning can reduce heat gain up to 65% on southern windows and 77% on eastern windows. A light colored awning does double duty by also reflecting sunlight.

Maintaining a gap between the top of the awning and the side of the house helps vent accumulated heat from under a solid- surface awning. If you live in a climate with cold winters, you will want to remove awnings for winter storage, or by retractable ones, to take advantage of winter heat gain.

The amount of drop (how far down the awing comes) depends on which side of your house the window is on. An east or west window needs a drop of 65% to 75% of the window height. A south-facing window only needs a drop of 45% to 60% for the same amount of shade. A pleasing angle to the eye for mounting and awning is 45°. Make sure the awning does not project into the path of foot traffic unless it is at least 6 feet 8 inches (2 meters) from the ground.

One disadvantage of awnings is that they can block views, particularly on the east and west sides. However, slatted awnings do allow limited viewing through the top parts of windows.

Louvers are attractive because their adjustable slats control the level of sunlight slats control the level of sunlight entering your home and, depending on the design, can be adjusted from inside or outside your house. The slats can be vertical or horizontal. Louvers remain fixed and are attached to the exteriors of window frames.

Shutters are movable wooden or metal covering that, when closed, keep sunlight out. Shutters are either solid or slatted with fixed or adjustable slats. Besides reducing heat gain, they can provide privacy and security. Some shutters help insulate windows when it is cold outside.

Rolling shutters have a series of horizontal slats that run down along a track. Rolling shades use a fabric. These are the most expensive shading options, but the work well and can provide security. Many exterior rolling shutters or shades can be conveniently controlled from the inside. One disadvantage is that when fully extended, the block all light.

Solar screens resemble standard window screens except they keep direct sunlight from entering the window, cut glare, and block light without blocking the view or elimination air flow. They also provide privacy by restricting the view of the interior from outside your house. Solar screens come in a variety of colors and screening materials to compliment any home. Although do-it-yourself kits are available, these screens will not last as long as professionally built screens.

Although interior shading is not as effective as exterior shading, it is worthwhile if none of the previously mentioned techniques are possible. There are several ways to block the sun's heat from inside your house.

Draperies and curtains made of tightly woven, light-colored, opaque fabrics reflect more of the sun's rays than they let through. The tighter the curtain is against the wall around the window, the better it will prevent heat gain. Two layers of draperies improve the effectiveness of the draperies' insulation when it is either hot or cold outside.

Venetian blinds, although not as effective as draperies, can be adjusted to let in some light and air while reflecting the sun's heat. Some newer blinds are coated with reflective finishes. To be effective, the reflective surfaces must face the outdoors. Some interior cellular (honeycombed) shades also come with reflective mylar coatings. But they block natural light and restrict air flow.

Opaque roller shades are effective when fully drawn but also block light and restrict air flow.

Removing Built-Up Heat

Nothing feels better on a hot day than a cool breeze. Encouraging cool air to enter your house forces warm air out, keeping your house comfortably cool. However, this strategy only works when the inside temperature is higher than the outside temperature.

Natural ventilation maintains indoor temperatures close to outdoor temperatures close to outdoor temperatures and helps remove heat from your home. But only ventilated during the coolest parts of the day or night, and seal off your house from the hot sun and air during the hottest parts of the day. The climate you live in determines the best ventilation strategy. In areas with cool nights and very hot days, let the night air in to cool your house. By the time the interior heats up, and the outside air should be cooler and can be allowed indoors.

In climates with day time breezes, open windows on the side from where the breeze is coming and on the opposite side of the house. Keep interior doors open to encourage whole house ventilation. If your location lacks consistent breezes, create them by opening the windows at the lowest and highest points in your house. This natural "thermo siphoning," or "chimney," effect can be taken a step further by adding a clerestory or a vented skylight.

In hot, humid climates where temperature swings between day and night are mall, ventilate when humidity is not excessive. Ventilating your attic greatly reduces the amount of accumulated heat, which eventually works its way into the main part of your house. Ventilated attics are about 30°f (16°c) cooler than unventilated attics. Properly sized and placed louvers and roof vents help prevent moisture buildup and overheating in your attic.

Reducing Heat-Generating Sources

Often overlooked sources of interior heat gain are lights and household appliances, such as ovens, dishwashers, and dryers. Because most of the energy that incandescent lamps use is given off as heat, use them only when necessary. Take advantage of daylight to illuminate your house, and consider switching to compact fluorescent lamps. These use about 75% less energy than incandescent lamps, and emit 90% less heat for the same amount of light.

New, energy efficient appliances generate less heat and use less energy.

Many household appliances generate a lot of heat. When possible, use them in the morning or late evening when you can better tolerate the extra heat. Consider cooking on an outside barbecue grill or use a microwave oven, which does not generate as much heat and uses less energy than a gas or electric range.

Washers, dryers, dishwashers, and water heaters also generate large amounts of heat and humidity. To gain the most benefit, seal off your laundry room and water heater from the rest of the house.

New, energy efficient appliances generate less heat and use less energy. When it is time to purchase new appliances, make sure the are energy efficient. All refrigerators, dishwashers, and dryers display an energy guide label indicating the annual estimated cost for operating the appliance or a standardized energy efficiency ratio. Compare appliances and buy the most efficient models for your needs.

Saving Energy

Using any or all of these strategies will help keep you cool. Even if you use air conditioning, many of these strategies, may not be enough. Sometimes you need to supplement natural cooling with mechanical devices. Fans and evaporative coolers can supplement your cooling strategies and cost less to install and run than air conditioners.

Ceiling fans make you feel cooler. Their effect is equivalent to lowering the air temperature by about 4°f (2°c). Evaporative coolers use about one-fourth the energy of conventional air conditioners.

Many utility companies offer rebates and other cost incentives when you purchase or install energy saving products, such as insulation and energy efficient lighting and appliances. Contact your local utility company to see what it offers in the way of incentives.

Cooling Strategies Checklist

Cooling strategies to consider:

  • lighten roof and exterior wall color
  • replace/coat roof with bright white or shiny material
  • install a radiant barrier
  • add reflective coatings to windows
  • insulate attic and walls
  • caulk and weather strip to seal air leaks
  • add shade trees, bushes, or vines
  • add exterior awnings and shades
  • add interior drapes and shades
  • ventilate attic
  • increase natural ventilation
  • isolate heat-generating appliances
  • replace heat-generating appliances
  • replace light bulbs with energy-efficient fluorescent's

As always, friends, stay cool! 

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Is Champaign-Urbana a tough real estate Market?

by qcregm 1. June 2011 11:43

These are pretty tough real estate times in our local market.  Transactions are down about 18 percent from this time last year and we are starting to see some very real pricing pressures.  While we have been successful selling many homes already this year, it seems that no transaction in an easy one.  Sellers, including myself, are having a hard time adjusting to our declining market.  Well priced homes in good condition are selling but with so few buyers they must be the best in class in either class or price.  Homes that we think are well priced seem to lose steam in a very short period of time.  Below is a link to a national article that sums up our local markets as well.

 

http://www.usatoday.com/money/economy/housing/2011-05-31-home-prices-case-shiller_n.htm?sms_ss=email&at_xt=4de64ad2e8cc4af2%2C0

 

Happy Blogging

 

Creg

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Offers Starting at 52% of Market Value- This weekend ONLY!

by qcregm 1. March 2011 10:21

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General

Sell the house as is, or fix it?

by qcregm 11. February 2011 05:58
I recently came across this great question and answer session on MSN Real Estate. It's a question I often hear from sellers so I thought I would share it with my blog fans. Dear Real Estate Adviser, Is it better to do the repairs and sell at market price, or sell "as is" at below-market price? Our home needs new siding, new windows and some interior improvements. The neighborhood is stable with mostly middle-class homes. -- D. Pattkin Dear D., You can certainly roll the cost of the needed repairs into your home's sale price, but you'll likely have to offer buyers an extra discount for the time and trouble needed to address the necessary fix-it work. Otherwise, that same buyer could simply drive down the block and buy another home with newer siding and windows, better interiors, etc., for the same cost as yours and not have to pound a nail. You are caught in a modern day, real estate Catch-22 -- that dreaded "darned if you do and darned if you don't" scenario. Tattered homes often will not sell conventionally -- at least for a reasonable price -- in this predominantly buyer's market. Only in those rare seller's markets would you have some leverage despite your home's condition. So you may have to bite the bullet and do the work. Unfortunately, statistics suggest you will recoup less than three-fourths of your remodeling investment when you sell. According to Remodeling magazine's 2010-2011 Remodeling Cost vs. Value report, a full window replacement in a midrange repair project returns 71.6 percent of investment in a home sale, while a siding replacement returns 72.4 percent -- percentages that are higher than most remodeling jobs, by the way. Other interior remodeling projects merit value returns of 45 percent to 73 percent, according to the survey. While that data seem to suggest that sellers should offer buyers credits and let the buyers perform their own work, the reality is that if a home is too beat up, it may generate little interest from conventional buyers. Contractors or would-be home flippers, who will likely lowball you because they can already get cheap fixer-uppers in the vast foreclosure arena, may be your only customers. Unless they're especially handy and have loads of spare time on their hands, would-be owner occupants typically don't want to wrestle with significant repairs. Of course, all real estate is local, so these generalizations may not wholly apply on your block. Consider attending open houses in or near your neighborhood to assess the general condition of area for-sale homes, with an eye on any apparent upgrades and other amenities and their apparent impact on sales prices and buyer interest. A seasoned agent can also tell you what buyer priorities are in a given area. You might have to perform at least some of the repairs if you need to sell your house soon for anything close to optimal price. -- Steve McLinden (Bankrate.com home expert) We are the local real estate experts in Champaign so please call us if you want to hear some solutions to the catch 22 mentioned above or visit our website at www.cregmcdonald.com.

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General, fixer uppers, maintenance

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