The REAL Cost of a Fixer-Upper
When the cost of real estate seems so high, especially in Hawaii, it is tempting to purchase a fixer-upper to save money. But the question is, do you REALLY save money? And how do you figure that out before you have purchased a home and are committed? We’ve re-posted a great article from HouseLogic to help you think through this process and decide whether that fixer-upper really will be your dream home or just a nightmare.
How to Assess the Real Cost of a Fixer-Upper House | by G.M. Filisko
http://members.houselogic.com/articles/how-assess-real-cost-fixer-upper-house/preview/
When you buy a fixer-upper house, you can save a ton of money, or get yourself in a financial fix.
1. Decide what you can do yourself
TV remodeling shows make home improvement work look like a snap. In the real world, attempting a difficult remodeling job that you don’t know how to do will take longer than you think and can lead to less-than-professional results that won’t increase the value of your fixer-upper house.
- Do you really have the skills to do it? Some tasks, like stripping wallpaper and painting, are relatively easy. Others, like electrical work, can be dangerous when done by amateurs.
- Do you really have the time and desire to do it? Can you take time off work to renovate your fixer-upper house? If not, will you be stressed out by living in a work zone for months while you complete projects on the weekends?
2. Price the cost of repairs and remodeling before you make an offer
- Get your contractor into the house to do a walk-through, so he can give you a written cost estimate on the tasks he’s going to do.
- If you’re doing the work yourself, price the supplies.
- Either way, tack on 10% to 20% to cover unforeseen problems that often arise with a fixer-upper house.
3. Check permit costs
- Ask local officials if the work you’re going to do requires a permit and how much that permit costs. Doing work without a permit may save money, but it’ll cause problems when you resell your home.
- Decide if you want to get the permits yourself or have the contractor arrange for them. Getting permits can be time-consuming and frustrating. Inspectors may force you to do additional work, or change the way you want to do a project, before they give you the permit.
- Factor the time and aggravation of permits into your plans.
4. Double check pricing on structural work
If your fixer-upper home needs major structural work, hire a structural engineer for $500 to $700 to inspect the home before you put in an offer so you can be confident you’ve uncovered and conservatively budgeted for the full extent of the problems.
Get written estimates for repairs before you commit to buying a home with structural issues.
Don’t purchase a home that needs major structural work unless:
- You’re getting it at a steep discount
- You’re sure you’ve uncovered the extent of the problem
- You know the problem can be fixed
- You have a binding written estimate for the repairs
5. Check the cost of financing
Be sure you have enough money for a down-payment, closing costs, and repairs without draining your savings.
If you’re planning to fund the repairs with a home equity or home improvement loan:
- Get yourself pre-approved for both loans before you make an offer.
- Make the deal contingent on getting both the purchase money loan and the renovation money loan, so you’re not forced to close the sale when you have no loan to fix the house.
- Consider the Federal Housing Administration’s Section 203(k) program, which is designed to help home owners who are purchasing or refinancing a home that needs rehabilitation. The program wraps the purchase/refinance and rehabilitation costs into a single mortgage. To qualify for the loan, the total value of the property must fall within the FHA mortgage limit for your area, as with other FHA loans. A streamlined 203(k) program provides an additional amount for rehabilitation, up to $35,000, on top of an existing mortgage. It’s a simpler process than obtaining the standard 203(k).
6. Calculate your fair purchase offer
Take the fair market value of the property (what it would be worth if it were in good condition and remodeled to current tastes) and subtract the upgrade and repair costs.
For example: Your target fixer-upper house has a 1960s kitchen, metallic wallpaper, shag carpet, and high levels of radon in the basement.
Your comparison house, in the same subdivision, sold last month for $200,000. That house had a newer kitchen, no wallpaper, was recently recarpeted, and has a radon mitigation system in its basement.
The cost to remodel the kitchen, remove the wallpaper, carpet the house, and put in a radon mitigation system is $40,000. Your bid for the house should be $160,000.
Ask your real estate agent if it’s a good idea to share your cost estimates with the sellers, to prove your offer is fair.
7. Include inspection contingencies in your offer
Don’t rely on your friends or your contractor to eyeball your fixer-upper house. Hire pros to do common inspections like:
- Home inspection. This is key in a fixer-upper assessment. The home inspector will uncover hidden issues in need of replacement or repair. You may know you want to replace those 1970s kitchen cabinets, but the home inspector has a meter that will detect the water leak behind them.
- Radon, mold, lead-based paint
- Septic and well
- Pest
Most home inspection contingencies let you go back to the sellers and ask them to do the repairs, or give you cash at closing to pay for the repairs. The seller can also opt to simply back out of the deal, as can you, if the inspection turns up something you don’t want to deal with.
If that happens, this isn’t the right fixer-upper house for you. Go back to the top of this list and start again.
7 Steps to Take Before You Buy a Home
The idea of buying a home – one of the largest purchases you’ll make in a lifetime (especially here in Hawaii) – can be intimidating. We hear all the time that ‘real estate is just too expensive’, ‘renting has been fine for this long’, or ‘I’ll never qualify’. There are so many benefits to owning your own home, whether it is a “starter” condo on the Gold Coast or in Waikiki, or a house in Kahala, that it is worth the effort to do the work before it is time to purchase. Some thought and effort could see you relaxing in your own home, not answering to a landlord, much sooner than you think! This article from HouseLogic covers some key steps to take before buying property and maybe help you over the hurdle of “Should I or Shouldn’t I?”
by G. M. Filisko, re-posted from HouseLogic http://members.houselogic.com/articles/7-steps-take-you-buy-home/preview/
1. Decide how much home you can afford
Generally, you can afford a home priced 2 to 3 times your gross income. Remember to consider costs every homeowner must cover: property taxes, insurance, maintenance, utilities, and community association fees, if applicable, as well as costs specific to your family, such as day care if you plan to have children.
2. Develop your home wish list
Be honest about which features you must have and which you’d like to have. Handicap accessibility for an aging parent or special needs child is a must. Granite countertops and stainless steel appliances are in the bonus category. Come up with your top-five must-haves and top-five wants to help you focus your search and make a logical, rather than emotional, choice when home shopping.
3. Select where you want to live
Make a list of your top-five community priorities, such as commute time, schools, and recreational facilities. Ask your REALTOR® to help you identify three to four target neighborhoods based on your priorities.
4. Start saving
Have you saved enough money to qualify for a mortgage and cover your downpayment? Ideally, you should have 20% of the purchase price set aside for a downpayment, but some lenders allow as little as 5% down. A small downpayment preserves your savings for emergencies.
However, the lower your downpayment, the higher the loan amount you’ll need to qualify for, and if you still qualify, the higher your monthly payment. Your downpayment size can also influence your interest rate and the type of loan you can get.
Finally, if your downpayment is less than 20%, you’ll be required to purchase private mortgage insurance. Depending on the size of your loan, PMI can add hundreds to your monthly payment. Check with your state and local government for mortgage and downpayment assistance programs for first-time buyers.
5. Ask about all the costs before you sign
A downpayment is just one homebuying cost. Your REALTOR® can tell you what other costs buyers commonly pay in your area—including home inspections, attorneys’ fees, and transfer fees of 2% to 7% of the home price. Tally up the extras you’ll also want to buy after you move-in, such as window coverings and patio furniture for your new yard.
6. Get your credit in order
A credit report details your borrowing history, including any late payments and bad debts, and typically includes a credit score. Lenders lean heavily on your credit report and credit score in determining whether, how much, and at what interest rate to lend for a home. Most require a minimum credit score of 620 for a home mortgage.
You’re entitled to free copies of your credit reports annually from the major credit bureaus:Equifax, Experian, and TransUnion. Order and then pore over them to ensure the information is accurate, and try to correct any errors before you buy. If your credit score isn’t up to snuff, the easiest ways to improve it are to pay every bill on time and pay down high credit card debt.
7. Get prequalified
Meet with a lender to get a prequalification letter that says how much house you’re qualified to buy. Start gathering the paperwork your lender says it needs. Most want to see W-2 forms verifying your employment and income, copies of pay stubs, and two to four months of banking statements.
If you’re self-employed, you’ll need your current profit and loss statement, a current balance sheet, and personal and business income tax returns for the previous two years.
Consider your financing options. The longer the loan, the smaller your monthly payment. Fixed-rate mortgages offer payment certainty; an adjustable-rate mortgage offers a lower monthly payment. However, an adjustable-rate mortgage may adjust dramatically. Be sure to calculate your affordability at both the lowest and highest possible ARM rate.
G.M. Filisko is an attorney and award-winning writer who has thrice survived the homebuying process. A frequent contributor to many national publications including Bankrate.com, REALTOR® Magazine, and the American Bar Association Journal, she specializes in real estate, business, personal finance, and legal topics.
Why Use a REALTOR®?
One unique aspect of Gold Coast Real Estate is every agent’s status as a REALTOR® or REALTOR-Associate®. We are committed to providing the best possible experience and service to each of our clients and that means an equal commitment to education, up-to-date knowledge of the industry, and understanding our market here in Hawaii. When it is time for you to buy or sell your property, do not settle for less than the best!
Below is more information about what it means to be a REALTOR® and why you should consider using one from Realtor.com (http://www.realtor.com/Basics/AllAbout/Realtors/Why.asp?source=web)
All real estate licensees are not the same. Only real estate licensees who are members of the NATIONAL ASSOCIATION OF REALTORS® are properly called REALTORS®. They proudly display the REALTOR “®” logo on the business card or other marketing and sales literature. REALTORS® are committed to treat all parties to a transaction honestly. REALTORS® subscribe to a strict code of ethics and are expected to maintain a higher level of knowledge of the process of buying and selling real estate. An independent survey reports that 84% of home buyers would use the same REALTOR® again.
Real estate transactions involve one of the biggest financial investments most people experience in their lifetime. Transactions today usually exceed $100,000. If you had a $100,000 income tax problem, would you attempt to deal with it without the help of a CPA? If you had a $100,000 legal question, would you deal with it without the help of an attorney? Considering the small upside cost and the large downside risk, it would be foolish to consider a deal in real estate without the professional assistance of a REALTOR®.
But if you’re still not convinced of the value of a REALTOR®, here are a dozen more reasons to use one:
1. Your REALTOR® can help you determine your buying power – that is, your financial reserves plus your borrowing capacity. If you give a REALTOR® some basic information about your available savings, income and current debt, he or she can refer you to lenders best qualified to help you. Most lenders — banks and mortgage companies — offer limited choices.
2. Your REALTOR® has many resources to assist you in your home search. Sometimes the property you are seeking is available but not actively advertised in the market, and it will take some investigation by your agent to find all available properties.
3. Your REALTOR® can assist you in the selection process by providing objective information about each property. Agents who are REALTORS® have access to a variety of informational resources. REALTORS® can provide local community information on utilities, zoning. schools, etc. There are two things you’ll want to know. First, will the property provide the environment I want for a home or investment? Second, will the property have resale value when I am ready to sell?
4. Your REALTOR® can help you negotiate. There are myriad negotiating factors, including but not limited to price, financing, terms, date of possession and often the inclusion or exclusion of repairs and furnishings or equipment. The purchase agreement should provide a period of time for you to complete appropriate inspections and investigations of the property before you are bound to complete the purchase. Your agent can advise you as to which investigations and inspections are recommended or required.
5. Your REALTOR® provides due diligence during the evaluation of the property. Depending on the area and property, this could include inspections for termites, dry rot, asbestos, faulty structure, roof condition, septic tank and well tests, just to name a few. Your REALTOR® can assist you in finding qualified responsible professionals to do most of these investigations and provide you with written reports. You will also want to see a preliminary report on the title of the property. Title indicates ownership of property and can be mired in confusing status of past owners or rights of access. The title to most properties will have some limitations; for example, easements (access rights) for utilities. Your REALTOR®, title company or attorney can help you resolve issues that might cause problems at a later date.
6. Your REALTOR® can help you in understanding different financing options and in identifying qualified lenders.
7. Your REALTOR® can guide you through the closing process and make sure everything flows together smoothly.
8. When selling your home, your REALTOR® can give you up-to-date information on what is happening in the marketplace and the price, financing, terms and condition of competing properties. These are key factors in getting your property sold at the best price, quickly and with minimum hassle.
9. Your REALTOR® markets your property to other real estate agents and the public. Often, your REALTOR® can recommend repairs or cosmetic work that will significantly enhance the salability of your property. Your REALTOR® markets your property to other real estate agents and the public. In many markets across the country, over 50% of real estate sales are cooperative sales; that is, a real estate agent other than yours brings in the buyer. Your REALTOR® acts as the marketing coordinator, disbursing information about your property to other real estate agents through a Multiple Listing Service or other cooperative marketing networks, open houses for agents, etc. The REALTOR® Code of Ethics requires REALTORS® to utilize these cooperative relationships when they benefit their clients.
10. Your REALTOR® will know when, where and how to advertise your property. There is a misconception that advertising sells real estate. The NATIONAL ASSOCIATION OF REALTORS® studies show that 82% of real estate sales are the result of agent contacts through previous clients, referrals, friends, family and personal contacts. When a property is marketed with the help of your REALTOR®, you do not have to allow strangers into your home. Your REALTOR® will generally prescreen and accompany qualified prospects through your property.
11. Your REALTOR® can help you objectively evaluate every buyer’s proposal without compromising your marketing position. This initial agreement is only the beginning of a process of appraisals, inspections and financing — a lot of possible pitfalls. Your REALTOR® can help you write a legally binding, win-win agreement that will be more likely to make it through the process.
12. Your REALTOR® can help close the sale of your home. Between the initial sales agreement and closing (or settlement), questions may arise. For example, unexpected repairs are required to obtain financing or a cloud in the title is discovered. The required paperwork alone is overwhelming for most sellers. Your REALTOR® is the best person to objectively help you resolve these issues and move the transaction to closing (or settlement).
Tourist Industry Lobbies for Easier VISA Process
The tourist industry is key to the economy of our home here in Hawaii. Any process that makes it easier for tourists to visit, is key to the growth and health of our area. This article from the Honolulu Star Advertiser gives insight into what is going on with the VISA process for foreign tourists. What do you think of the current process & how it should change? Let us know in the comments box below or drop a note on the Gold Coast Real Estate Facebook wall!
Tourist Industry Lobbies for Easier VISA Process by Christina Silva
LAS VEGAS >> Agustina Ocampo is the kind of foreign traveler businesses salivate over.
The 22-year-old Argentine recently dropped more than $5,000 on food, hotels and clothes in Las Vegas during a trip that also took her to Seattle’s Space Needle, Disneyland and the San Diego Zoo. But she doubts she will return soon.
“It is a little bit of a headache,” said Ocampo, a student who waited months to find out whether her tourist visa application would be approved.
More than a decade after the federal government strengthened travel requirements after the Sept. 11, 2001, terrorist attacks, foreign visitors say getting a temporary visa remains a daunting and sometimes insurmountable hurdle.
The tourism industry hopes to change that with a campaign to persuade Congress to overhaul the State Department’s tourist visa application process.
“After 9/11, we were all shaken and there was a real concern for security, and I still think that concern exists,” said Jim Evans, a former hotel chain CEO heading a national effort to promote foreign travel to the U.S.
At the same time, he said, the U.S. needs “to be more cognizant of the importance of every single traveler.”
Tourism leaders said the decline in foreign visitors over the past decade is costing American businesses and workers $859 billion in untapped revenue and at least half a million potential jobs at a time when the slowly recovering economy needs both.
While the State Department has beefed up tourist services in recent years, reducing wait times significantly for would-be visitors will likely be a challenge as officials try to balance terrorist threats and illegal immigration with tight budgets that limit hiring.
“Security is job one for us,” said Edward Ramotowski, managing director of the department’s visa services. “The reason we have a visa system is to enforce the immigration laws of the United States.”
Anti-immigration proponents argue travel to the U.S. is already too accessible and that allowing more visitors would put the nation at greater risk.
“Everybody would like to find a way to admit as many people as possible to visit here providing that they visit and then go home,” said Jessica Vaughan, director of policy studies at the Center for Immigration Studies, an anti-immigration group based in Washington, D.C.
“A lot of consular officers underestimate how much people want to come and live here,” she said.
Nearly 7.6 million nonimmigrant visas were issued in 2001, compared with fewer than 6.5 million in 2010. The number of visa applicants also dropped sharply after 2001. Those combined forces pushed the U.S. share of global travelers down to 12 percent last year, from 17 percent before 2001.
The proposed immigration overhaul has largely been driven by the U.S. Travel Association, the tourism industry’s lobbying giant, and has been endorsed by business titans such as the National Retail Federation, Four Seasons Hotels and Resorts, and Walt Disney Parks and Resorts. Republicans and Democrats in Congress are backing the proposed changes through six bills in the House and Senate.
Geoff Freeman, the travel association’s chief operating officer, said the State Department should be required to keep visa interview wait times at a maximum of 10 days.
“Every day a person is waiting for that interview is a day a person cannot be here supporting the American economy,” he said.
For most foreigners, taking a last-minute business or leisure trip to New York, Los Angeles, Miami or other U.S. travel hubs would be nearly impossible. The average wait time for a visa interview in Rio de Janeiro, for example, was 87 days, according to the State Department.
The Government Accountability Office, a nonpartisan agency that audits federal programs, concluded that wait times are likely much longer than reported because some department employees artificially reduce the wait times by not scheduling interviews during high-demand periods.
The vast majority of visitors enter through the country’s visa waiver program, which allows travelers from 36 nations with good relationships with the U.S. to temporarily visit without a visa. Travel proponents want to add nations whose residents are unlikely to illegally move to the U.S., including Argentina, Brazil, Poland and Taiwan.
Tourists from the rest of the world, including India, China, Mexico and other nations with affluent travelers looking to use their passports, must obtain a nonimmigrant visa. The process can be expensive and time-consuming.
People living far from a visa processing center must arrange travel to the interview location, not knowing whether they will be approved. Roughly 78 percent of all tourist visas were approved so far in 2011.
Tourism proponents want the department to embrace videoconferencing as a way to interview more people quickly. The department has no plans to implement videoconferencing interviews because of safety and technological concerns, Ramotowski said.
In-person interviews weren’t the norm before 9/11, when consular officials had the authority to approve travelers based on an application alone. Since then, however, screenings have become more strenuous, with fingerprint checks and facial recognition screening of photographs.
The State Department has made moves to boost its tourist services in recent years, transferring employees from underworked offices to bustling embassies and consular posts. Many visa processing centers are also operating under extended hours.
Other proposed changes include granting more multi-entry visas and charging premium fees to tourists who want a visa right away, similar to the premium passport fee charged to Americans with last-minute passport requests. The tourism industry also wants more visa processing officers and to allow travelers to submit applications in their native language.
“We can’t afford to treat them in a way that gives them an impression that maybe they aren’t welcome,” said Rolf Lundberg, the U.S. Chamber of Commerce’s top lobbyist.
To help make the U.S. appear more welcoming, Congress approved last year a $200 million annual marketing campaign.
In Las Vegas, where travelers to the Strip have traditionally kept Nevada’s economy afloat, tourism and government leaders are desperate to keep businesses open and create jobs in a state with the nation’s highest unemployment rate.
“The industries affected by tourism are all behind it,” said Republican Rep. Joe Heck of southern Nevada, who has sponsored a bill in the House that would require shorter visa interview delays, among other measures. “We need the jobs.”
Ocampo, who spent her vacation shopping at upscale boutiques and visiting family in California, said she would be more eager to come back if she knew her business was wanted.
“Everyone wants to visit the Statue of Liberty and Disneyland,” she said.
Call to Action – Stand Up for Hawaii’s Natural Beauty!
We at Gold Coast Real Estate are passionate about protecting the environment and the amazing beauty of our home here in Hawaii. We are supporting a local neighborhood group that is speaking out against the slaughter of spear fishing in our area. Their goal is to turn this area into a marine preserve – protecting the delicate ecology of the reef and the economy of our area.
Please see the letter below to the Department of Land and Natural Resources (DLNR). If you would like to sign the petition to stop spear fishing in our area, please email Don Persons at donpersons@gmail.com. Every signature helps to prevent our natural resources from being systematically destroyed.
January 8, 2012
DLNR
William Aila
151 Punch Bowl St Ste 130
Honolulu HI 96813
RE: ‘The Slaughter’ – Spear Fishing Diamond Head Lighthouse to Waikiki
Dear Mr. Aila,
Every other year the waters between the Diamondhead light house and the War Memorial Natatorium are opened January 1st to fishing of all kinds. This is after the fish have had one year of protection from spear fishing, netting and pole fisherman. The prior year there were only numerous tourist and snorkelers floating on the surface to view their beauty.
It’s 7 AM January 1st and looking out at the ocean I see no less than fifty (50) divers in the waters that were once protected. The early morning divers are cleaning up and later in the day another wave of divers converge on the shore line to try their luck. Judging by the catches I saw them take, everyone was very successful. The next day, Monday, January 2, the same pattern was apparent and the waters were crowded with divers (see attached photos). Today there was a DLNR enforcement officer on duty. I spoke to Officer Taniguchi right after he had sighted two spear fishermen for under size catches. He instructed them to throw back, now dead and clearly a waste. I asked him if he was writing very many citations and he said yes, but he was the only officer on duty to cover the approximate 1 mile of coast line with many points of entry. In a week’s time he said the citations were mostly for over limits, spearing protected species, not a legal size fish and not having a dive flag. One of the larger citations was given to a boat which was scuba diving in the protected area with tanks and nets. The boat had from 600 to 800 pounds of fish which were seized when the boat came into port. He said that at this rate the reef would be wiped out of most fish!
This does not seem like the fisheries management program in this area is working. Protected fish become accustomed to interacting with people as we have at Hanauma Bay. Then to one day let hundreds of spear fishermen come in and wipe them out hardly seems like management. I spoke to Officer Taniguchi today and he said he had over 35 warnings and citations. It is a black eye on the sport fisherman who claim ignorance to the rules, overfishing, and taking endangered species.
We hope that the signatures of the residents and tourists below will help you rethink this every other year slaughter and permanently close fishing from the Diamond Head lighthouse to the other end of Waikiki so another of Hawaii’s very valuable resources can be enjoyed by the people who support our economy, the tourists. This will also allow us to have a healthier reef and ocean in the heart of Hawaii’s most populated area for generations to come.
CC: Governor Neil Abercrombie
2012 – The Year of Saving Energy in Hawaii
Living in Hawaii, we are all very aware that energy comes at a premium. It is a limited resource, but if we are aware of HOW we use it, we can save some money, even here where it is expected that the cost of living will be high. So whether you live here on the Gold Coast, Diamond Head, Kahala or are on the other side of Oahu in Kailua or the North Shore, try to implement just a few of these tips and see a difference on your electric bill!
10 Tips for Saving Energy in the Kitchen
By: Douglas Trattner (http://members.houselogic.com/articles/kitchen-energy-saving/preview/)
Maintaining your large kitchen appliances is part of a smart home energy efficiency plan.
Refrigerator / Freezer
Energy-efficiency experts tell us to focus our efforts on the biggest energy hogs in the house, and that definitely includes the fridge. Because it cycles on and off all day, every day, the refrigerator consumes more electricity than nearly every appliance in the home save for the HVAC systems. The average refrigerator costs about $90 per year to operate, according to the U.S. Department of Energy. The good news is that a few simple adjustments can trim roughly $38 to $45 off those utility bills.
1. Adjust the thermostat. By setting the thermostat colder than it needs to be, you might increase your fridge’s energy consumption by as much as 25% on average. Adjust the refrigerator so that it stays in the 37-40 degrees F range. For the freezer, shoot for between 0-5 degrees F. You could save up to $22 per year. If your model doesn’t display the current temps, invest in two appliance thermometers (one for the fridge, one for the freezer). They cost roughly $3-$20 apiece at online retailers.
2. Clean the coils. As dust accumulates on the condenser coils on the rear or bottom of the fridge, it restricts cool-air flow and forces the unit to work harder and longer than necessary. Every six months, vacuum away the dust that accumulates on the mechanism. Also, check to see that there is at least a 3-inch clearance at the rear of the fridge for proper ventilation. This routine maintenance can trim up to 5% off the unit’s operating cost, says energy savings expert Michael Bluejay, saving you about $4.50 a year.
3. Use an ice tray. Automatic ice makers are a nice convenience, to be sure, but it turns out the mechanisms are energy hogs. An automatic ice maker can increase a refrigerator’s energy consumption by 14% to 20%, according to Energy Star. By switching off the ice maker and using trays, you can save about $12 to $18 off your annual electricity bill. Most units require little more than a lift of the sensor arm to switch them off. To reclaim the space remove the entire unit, a simple DIY job on many models.
4. Unplug the “beer fridge.” Many homes have an extra fridge that runs year round even though it’s used sparingly. Worse, these fridges tend to be older, more inefficient models. By consolidating the contents to the main fridge and unplugging the additional unit, you eliminate the entire operating cost of a fridge. The second-best solution is to make sure the extra fridge remains three-quarters full at all times. The mass helps maintain steady internal temps and lets the fridge recover more quickly after the door is opened and closed, according to the California Energy Commission.
Ovens and ranges
“Green” cooking all comes down to proper time and space management. By using gas and electric stoves more effectively, you can painlessly save a few dollars a year.
5. Cut the power early. As anybody who’s ever bumped a burner on an electric stove can attest, those heating elements stay hot long after they’ve been switched off. Put that residual heat to work by shutting off the burner several minutes before the end of the cook time. The same technique can be applied to the oven. The savings can add up to a couple bucks every month.
6. Match the burner to pan. When a small pan is placed on a big burner you can practically see the money disappearing into thin air. By matching the burner to the pan, electricity won’t be squandered heating the kitchen rather than the food. The reverse is true, too. A small burner will take considerably longer to heat a large pan than would an appropriately sized burner. For gas stoves, don’t let the flames lick the sides of the pot. Follow these tips and watch the utility bills shrink by a few dollars a month.
7. Do away with preheating. You can save about $2 a month by not preheating your oven (20 cents per hour to operate electric oven; eliminate 20 30-minute preheats a month). Many cooks agree that the practice is wholly unnecessary for all but a few recipes, namely baking breads and cakes. This approach may add a few minutes to the overall cooking time, but it eliminates all that wait time on the front end.
Dishwasher
As with washing machines, most of a dishwasher’s energy needs go to heating the water. Still, says Lane Burt, an energy policy analyst with The Natural Resources Defense Council, a 10-year-old dishwasher can be made nearly as efficient as a newer model simply by knowing when and how to run it. Follow a few simple tips, and you can reduce your annual utility costs by roughly $35-$54.
8. Manage the load. Most dishwashers use the same amount of water and energy whether they’re run full or half-full. You can cut your operating costs by one-third or one-half by running the machine only when it’s full. It costs about $54 to run a pre-2000 model dishwasher per year, based on government data. Proper load management can save up to $27 each year.
9. Activate energy-saving features. A dishwasher’s heated dry cycle can add 15% to 50% to the appliance’s operating cost. Most machines allow the feature to be switched off (or not turned on), which can save $8-$27 per year, assuming an operating cost of $54 annually. If your dishwasher doesn’t have that flexibility, simply turn the appliance off after the final rinse and open the door.
10. Use the machine. Many homeowners believe they can save water and energy by hand washing dishes. The truth is that a dishwasher requires less than one-third the water it would take to do those same dishes in the sink. By running the machine (when full), you can cut down the operating time of the hot water heater, your home’s largest energy hog. Not only will you save a buck per month, you won’t have to do the dishes.
For more tips on saving energy in your home, visit the Gold Coast Real Estate Facebook page at www.facebook.com/goldcoasthawaii.
Mele Kalikimaka me ka Hauʻoli Makahiki Hou!
From all of us at Gold Coast Real Estate to our friends & family in Hawaii and around the world, we want to wish you a very Merry Christmas & a Happy New Year!
10 Ways to Prevent Costly Mold Damage to Your Home
As we head into the rainy season that we call winter here in Hawaii, it is important to take the time to implement some simple mold prevention steps. Damage to your property now can effect its sale in the future as well as affect your health and well-being. For those of us on the leeward side who don’t normally receive that much rain, these changes to protect our homes don’t always come naturally. Check out this article from “HouseLogic” – an online magazine for Realtors.
BY: Karin Beuerlein
http://members.houselogic.com/articles/how-to-prevent-mold-damage/preview/
Fixing mold damage is an expensive and time-consuming home repair. But you can save time and money by implementing these 10 ounces of prevention.
Mold spores are always present indoors, particularly in humid areas. You can minimize mold growth, however, by buying a humidity monitor, which helps you keep track of home moisture that lets these spores colonize.
Here are 10 more ways to control and combat mold in your home.
1. Eliminate clutter
Cast a critical eye on household clutter, and pare down your stuff. Clutter blocks airflow and prevents your HVAC system from circulating air. Furniture and draperies that block supply grilles cause condensation. All this moisture creates microclimates in your home that welcome and feed mold growth.
So throw out things you don’t love or don’t use. Push furniture away from vents and grilles to keep air circulating. On humid, still days, run a couple of fans to keep air moving.
2. Control indoor climate
Mold problems often emerge during hot, humid summers when you’re tempted to play with the air conditioner. But set the thermostat too high, and the air conditioner won’t dehumidify your air effectively; set it too low, and you create cold surfaces where water vapor can condense.
To prevent moisture problems, and maximize energy efficiency, set the thermostat at 78 degrees F.
3. Shut windows and doors when AC is on
When you open windows and doors, you let air conditioning escape, waste money, and invite humid air into your cooler home: This causes condensation, which mold loves. So keep doors and windows shut when the AC is humming.
Also, maintain your home at around 80 degrees when you’re on vacation or at work. Too often, we bump the thermostat up to 85 degrees, or turn off the AC when we’re away. This raises temperature and humidity, which creates the ideal home for mold.
4. Properly size your AC unit
Make sure your air conditioning unit is properly sized for your house. If it’s too small, the unit will run constantly, elevating costs but not the temperature; too big, and the unit will constantly start and stop, which wastes energy, too.
Install an HVAC unit that is just right. For guidance, call an HVAC professional, or consult Energy Star’s square footage/AC capacity chart.
5. Monitor humidity
An indoor humidity monitor will help you keep track of moisture levels that, ideally, fall between 35% and 50% relative humidity; in very humid climates, at the height of summer, you may have to live with readings closer to 55%.
But if you reach 60% relative humidity, it’s time to look for the source of the added moisture; above 70% relative humidity, certain species of mold can begin growing.
Indoor humidity monitors start at about $20; more sophisticated models that simultaneously and remotely track several rooms can climb to $300.
6. Evaluate your AC
If you get a high humidity reading, first make sure your air conditioning is doing its job.
- Is it set to the proper temperature?
- Is it cycling on and off periodically?
- Does it blow cold air when it reaches the set point?
- Are coils clean?
Inspect the condensate drain pipe (the narrow white pipe sticking out the side) to make sure it’s dripping regularly. If it isn’t, the pipe is blocked and water may be accumulating inside the unit–or on your floor. If you suspect a problem, call your HVAC professional.
7. Look for standing water
If the air conditioner isn’t the issue, search for standing water or chronic dampness that is increasing indoor humidity and providing a lovely environment for mold.
Check for puddles or dampness around hot water tanks, sump pumps, freezers, refrigerators, basement doors, and windows. Inspect crawl spaces for ground water dampness or foundation leaks.
8. Cover crawl space
Ground water seeping into crawl spaces can add gallons of moisture vapor into your house every day. The simplest defense is to cover crawl space floors with a plastic vapor barrier–6 mil polyethylene (landscapers plastic)–that traps moisture in the ground.
If you crawl in your crawl space, use a heavier plastic that won’t rip as easily: Some 20 milplastic coverings are on the market.
9. Add a dehumidifier
A dehumidifier removes excess moisture from the air.
You can buy a whole house dehumidifier ($1,100 to $1,800) that attaches to your furnace, treats air throughout the house, and connects to a drain so you never have to empty a tank. If you live in very humid areas, a whole-house system is the way to go.
If you have occasional bouts of dampness and musty smells, a portable dehumidifier will suffice ($150 to $200).
Most models have an auto shutoff that keeps the unit from overflowing when the storage tank is full. Some portables have a hose hookup that automatically sends water into a nearby floor drain.
10. Call a professional
If you can’t find the moisture problem on your own, or you aren’t sure how to correct a problem you do find, call a home inspector or indoor air quality consultant. Look for credentials from a respected industry organization, such as the American Society of Home Inspectors or the Indoor Air Quality Association. A house call will likely run $250 or more.
Mold remediation isn’t necessarily covered by home owners insurance, which typically pays only if the problem results from a sudden emergency covered in your policy, such as a burst pipe. Insurance usually doesn’t pay if the problem results from deferred maintenance or floodwaters (unless you have flood insurance).
‘The Descendants’
Have you seen The Descendants yet? The movie is set and filmed here in beautiful Hawaii. When you go to watch the movie, pay close attention! Gold Coast Real Estate is the real estate company featured in the film. Find out a little more about the movie from the descriptions below!
“From the creator of the Oscar-winning SIDEWAYS, set in Hawaii, THE DESCENDANTS is a sometimes humorous, sometimes poignant journey, for Matt King (George Clooney) an indifferent husband and father of two girls, who is forced to re-examine his past and embrace his future when his wife suffers a boating accident off of Waikiki. The event leads to a repprochement with his young daughters while Matt wrestles with a decision to sell the family’s land handed down from the Hawaiian royalty and missionaries.” Synopsis courtesy of IMDB. http://www.imdb.com/title/tt1033575/synopsis
You can still see the movie (and catch the GCRE sign!) at the Kahala theatres. Click here for movie times – their description is below. http://www.consolidatedtheatres.com/cinema/content/moviedetail.asp?mID=6263
“Filmed on location on Oahu and named Best Narrative Feature by the Hawaii International Film Festival, THE DESCENDANTS is a sharply observed comic drama from Academy Award winning director Alexander Payne (SIDEWAYS). George Clooney stars as Matt King, a middle aged lawyer under pressure to sell the massive plot of land entrusted to him as the descendent of Hawaiian royalty while struggling to keep his family together. Backed by a strong supporting cast that includes Robert Forster as Matt’s father–in–law and Shailene Woodley (THE SECRET LIFE OF THE AMERICAN TEENAGER) in a standout turn as Matt’s teenaged daughter, Clooney gives one of the finest and most mature performances of his career.”
