Green Your Dorm Room with ENERGY STAR

While outfitting your dorm room this fall, remember to look for environmentally friendly products. An easy way to find products that you can trust as good for the environment is to look for the ENERGY STAR. Products that have earned the ENERGY STAR label meet strict energy efficiency requirements set by EPA, so they use less energy, save money, and help fight climate change. From laptops and printers for your schoolwork, to TVs and mini fridges for your study breaks, ENERGY STAR products make it easy for you to make a difference. Here are a few tips to help you shop “green” for back to school:


ENERGY STAR Lighting: If a table lamp is part of your dorm decor, make sure that it’s ENERGY STAR qualified. ENERGY STAR qualified lamps use less energy mainly because they integrate compact fluorescent light bulbs (CFLs) which use 75 percent less energy than regular incandescent light bulbs.

ENERGY STAR Computers: A high-performing computer is a must for school. With ENERGY STAR, you’ll know you’re getting a computer that is good for the environment and comparable in performance. Whether you choose a desktop or laptop, a computer that has earned the ENERGY STAR uses up to 65 percent less energy and can still satisfy all your school demands. If you’re also in the market for a printer or other office products, you can look for ENERGY STAR, as well. If all imaging equipment—printers, faxes, scanners, etc.—sold in the United States met ENERGY STAR requirements, annual savings would grow to nearly 4 million metric tons of greenhouse gas emissions, equivalent to emissions from more than 700,000 cars.

ENERGY STAR Mini Fridges: How cool is it to keep your food and drinks in an ENERGY STAR, energy-saving mini fridge? You get easy access to the “energy” you need while using less of it in the process. ENERGY STAR qualified refrigerators use 20 percent less energy than non-qualified refrigerators so you can enjoy your break knowing you are doing something good.

ENERGY STAR Electronics: No dorm room is complete without an ENERGY STAR qualified entertainment system, right? With all that work, everyone needs some time to decompress and with ENERGY STAR qualified TVs, DVDs, Blu-Ray Players, and speakers, you can really relax—not only from your work, but also knowing that your electronics are using less energy, even when they are off. That's because ENERGY STAR specifications for TVs, and other electronics, are more efficient both when the TV’s off (in standby mode), and when the TV’s on (in active mode). But you will never miss that extra power since even the latest and greatest in TV technology can earn the ENERGY STAR. What you will notice is how good you feel helping the environment. If each TV, DVD, and home theatre system purchased in the U.S. this year had earned the ENERGY STAR, we would prevent more than 6 billion pounds of greenhouse gas emissions per year, equivalent to the emissions from 570,000 cars!

East Valley housing more affordable

By: Catherine Reagor - Aug. 8, 2010 12:00 AM
The Arizona Republic

Amid the worst home-building slump in more than two decades, location has once again become the most important factor for metropolitan Phoenix's new-home buyers.

After being pushed to the extreme edges of the region during the housing boom, young buyers are finding that prices have come down far enough to make homes in popular suburbs affordable

The lower prices are driving sales of new homes in the more-desirable areas of the East Valley, and those sales may signal the beginning of the next cycle in the home-building industry, which has traditionally fueled much of Arizona's economy.

Nearly half of the 6,000 new houses sold in the region so far this year are in the southeast communities of Mesa, Chandler and Gilbert. First-timers, who no longer have to go out to the Valley's farthest flung developments to afford a new house, are the biggest group of buyers in those areas.

Because fewer homebuyers are heading out to the region's fringes, homebuilders trying to make money in the downturn and compete with foreclosures have had to find land in closer-in communities and cut costs and prices to be able to sell houses.

The strategy shift has helped several of Phoenix's homebuilders survive the real-estate collapse and keep the area's once huge new-housing industry alive. It also has opened the door for younger buyers to afford new houses in southeast Valley neighborhoods near freeways, shopping centers and better schools that only three or four years ago were out of their financial reach.

"People can now buy new homes in Chandler and Gilbert for half of what they cost during the boom or even pre-boom," said Jay Butler, director of realty studies at Arizona State University. "Most of the homeowners who paid the higher prices years ago aren't leaving, either."

Residents who bought in these East Valley suburbs before the downturn are likely upset at the drop in home values. But they still like their neighborhoods, and with fewer foreclosures, their more-established communities remain attractive places to live - another benefit drawing new buyers.
Read more at:
http://www.azcentral.com/business/realestate/articles/2010/08/08/20100808arizona-real-estate-east-valley-housing.html

Thinkg about Buying a home?

For buyers, this means fewer homes are selling … which could mean that you have a little less competition when making offers on homes. With many banks making sure homes are FHA-approved, there is good news for buyers that the market would like to see more primary home buyers over investors. Continue to watch these numbers, as it will help you and your real estate professional understand what type of incentives and assistance you may or may not be able to request.

Give us a call today....we can help! 480-889-1424

Thinking about selling your home?

The month of July saw a 22.8% DECREASE in the number of closed sales. This is the lowest number since February of this year. There is no doubt that the tax credit expiration has had a dramatic impact on this; however, if you removed the months where we had the tax credit in place, the numbers for July are fairly consistent with the prior months of 2010. This will be an important trend to watch … it means fewer homes are selling at a time when inventory is increasing. This could potentially mean that sellers have less control in today’s real estate market.

Call us today for more detailed information about your neighborhood. 480-889-1424.

2010.Aug.6 FHA Update: Principal Reduction by at least 10%

U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT WASHINGTON, DC 20410-8000


ASSISTANT SECRETARY FOR HOUSING-FEDERAL HOUSING COMMISSIONER

August 6, 2010

MORTGAGEE LETTER 2010 -23

TO: ALL APPROVED MORTGAGEES

SUBJECT: FHA Refinance of Borrowers in Negative Equity Positions

On March 26, 2010, the Department of Housing and Urban Development (HUD) and the Department of the Treasury (Treasury) announced enhancements to the existing Making Home Affordable Program (MHA) and Federal Housing Administration (FHA) refinance program that will give a greater number of responsible borrowers an opportunity to remain in their homes. These enhancements are designed to maintain homeownership by providing borrowers, who owe more on their mortgage than the value of their home, opportunities to refinance into an affordable FHA loan. This opportunity allows borrowers who are current on their mortgage to qualify for an FHA refinance loan provided that the lender or investor writes off the unpaid principal balance of the original first lien mortgage by at least 10 percent…



To read these mortgagee letter and any attachments in their entirety, please visit: http://www.hud.gov/offices/adm/hudclips/letters/mortgagee/

FHA Mortgage Insurance Premiums To Change

There is more change on the way for FHA mortgage insurance premiums, after legislation from the House of Representatives this past week was passed, allowing for an increase annual mortgage insurance premiums. That change will go into effect September 7, 2010.


All FHA loans have two types of mortgage insurance premiums that serve to protect HUD, which backs FHA loans, to insure themselves over potential losses on mortgage. Those are, the upfront mortgage insurance premium, which is paid is added to the loan amount borrowed in a lump sum at closing. Add the annual mortgage insurance premium, which is paid for on a monthly basis with one's mortgage payment.

In April, the upfront mortgage insurance premium was raised from 1.75% to 2.25% of the loan amount being insured, making FHA loans more costly upfront for borrowers. For instance, if you were taking out a $200,000 loan, this translated to an increase in your upfront mortgage insurance premium in the amount of $1,000.

However, recently Housing and Urban Development (HUD) has said that if they were given the authority to increase the annual mortgage insurance premiums, that they could reduce the upfront mortgage insurance premiums to as low as 1%.

That brings us back to the current, legislation, HR 5981, which has been now approved allowing HUD to raise the statutory cap on annual mortgage insurance premiums from 0.55% to 1.55%.

HUD was quick to respond and the mortgage insurance premiums are already scheduled to go into effect September 7th. HUD plans to increase annual premiums for FHA mortgage insurance to 0.85% for borrowers with loan-to-value ratios of up to 95 percent and to 0.9% for borrowers with higher LTVs. In addition, the upfront mortgage insurance premium as well is set to drop to 1%.

The way premiums are currently structured, a borrower taking out a $200,000 loan with the 3.5% minimum down payment pays an upfront premium of about $4,500, plus $1,100 a year in annual premiums.

In addition, the upfront premium roll back to 1% would mean that a borrower would pay an upfront premium of about $2,000, plus $1,800 a year in annual premiums. The $700 increase in annual premiums would translate into an additional $58 a month on their mortgage payment.

So, if you are waiting to buy…you may want to get in on the low rates now…give us a call today @ 480-889-1424.