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URBAN: I agree w/ JanGirl. There is a lot to be said for the status quo, especially if it feels secure. Would the other job mean relocating? If you like it where you are . . . that OT can be yanked at the new job. Ya just never know . . . Plus, if you have established a good working relationship w/ everyone at your present company - there is a lot to be said for that. You are still the last person hired at the new company! And you know what they say - "last hired, first fired" - wh/ is often the truth. It is harder to let someone go who has had a good track record over a period of time.
John, back to your musings on where to go to make $$$.
Until we know what Cap & Trade may impose as far as building standards and energy certification, I think anyone planning to do any sort of property investment in the future needs to 1. move property they can for the next 6-9 months, getting everything closed out b/f April 2010 and 2. plan on taking a hiatus after April-May 2010. The legislation gives a 180 day period for governments to put the energy certification programs in place. So if the legislation is passed w/ Jan 1, 2010 effective date, there will then be 180 more days b/f restrictions are in place. If the legislation passes as written, no more FHA loans on homes that are not energy certified - and new home owner programs (if I read it all correctly) will have a caveat in them that the homes must be energy certified. So no more money for first time home buyers unless they are purchasing certified homes.
So I would do what I could for the next 6-9 months, and plan on having everything closed out (loans for buyers) by March 31, 2010, to give myself time to adjust to whatever the new regs may require.
The new regs are heinous - and stipulate everything from insulation to appliances, HVAC systems and outdoor lightbulbs, and I ain't kidding. You should take a day and read it. Your eyeballs will pop out.
Right now my focus is on the $8000 stimulus program. On Aug 14th I'm closing on a house that I got acceptance on yesterday which will be the 5th house I currently have in the pipeline. One house will be finished by this Friday. We already MLS listed this past Sat. A second one I have will take 2 weeks to finish. A third...about 5 weeks and on and on. I hear you Ani about C&T and have it in my rear view mirror. Right now I don't want to plow into the truck in front of me that says END OF ROAD
NOV 30 2009
BYE BYE $8000 STIMULATE ME.
Right now my focus is on the $8000 stimulus program. On Aug 14th I'm closing on a house that I got acceptance on yesterday which will be the 5th house I currently have in the pipeline. One house will be finished by this Friday. We already MLS listed this past Sat. A second one I have will take 2 weeks to finish. A third...about 5 weeks and on and on. I hear you Ani about C&T and have it in my rear view mirror. Right now I don't want to plow into the truck in front of me that says END OF ROAD
NOV 30 2009
BYE BYE $8000 STIMULATE ME.
Good plan, lol!
I am very concerned what impact Crap & Trade is gonna have on both the building industry itself, as well as re-sales of homes - and the ability of the average person to get a mortgage underwritten. People are not paying attention to the C&T bill, as everyone is still plodding thru/ Healthcare Reform legislation. Very very worrisome, on many levels.
The new regs are heinous - and stipulate everything from insulation to appliances, HVAC systems and outdoor lightbulbs, and I ain't kidding. You should take a day and read it. Your eyeballs will pop out.
Where can I find them? Sounds similar to something we are going thru. Presently selling our home in Pa. The township requires a pressure test of the sewer lines from your house to check for ground water getting into the sewage system. If you don't pass, then you can not sell your house. Any home that was not built in the last 3-4 years usually does not pass. The fix generally costs between $5000-$10000. That is above the 6% realtors commission and other fees and taxes. Any appreciation of your home goes down the sewer.
Where can I find them? Sounds similar to something we are going thru. Presently selling our home in Pa. The township requires a pressure test of the sewer lines from your house to check for ground water getting into the sewage system. If you don't pass, then you can not sell your house. Any home that was not built in the last 3-4 years usually does not pass. The fix generally costs between $5000-$10000. That is above the 6% realtors commission and other fees and taxes. Any appreciation of your home goes down the sewer.
Yep, it is exactly that type of thing - and more. I am no engineer, but I believe the SEER rating was changed (mandated by law) on HVAC units - perhaps in 2007. Anyway, all units manufactured/sold after a certain date had to have a higher SEER rating. So that means, if the new certification requires that your HVAC system have the higher SEER rating, then lots of us are royally screwed - especially folks like me who have dual units - and bought them in 2006 or 2007 (bought mine in Dec 2006 and had it installed in March, 2007). I cannot imagine having to pay for two more units even tho mine are only 2 years old. Also - windows. If your windows are not rated as "energy efficient" - you are screwed on that one, too.
I have posted a link to the legislation in the past - from Thomas.gov, I believe. The bills are undergoing mark up, as far as I know, so who knows what is currently in both bills. An announcement was just made w/in the last hour today that the Health Reform bill is in mark up now and the anticipation is for release of the text on Friday.
John, back to your musings on where to go to make $$$.
Until we know what Cap & Trade may impose as far as building standards and energy certification, I think anyone planning to do any sort of property investment in the future needs to 1. move property they can for the next 6-9 months, getting everything closed out b/f April 2010 and 2. plan on taking a hiatus after April-May 2010. The legislation gives a 180 day period for governments to put the energy certification programs in place. So if the legislation is passed w/ Jan 1, 2010 effective date, there will then be 180 more days b/f restrictions are in place. If the legislation passes as written, no more FHA loans on homes that are not energy certified - and new home owner programs (if I read it all correctly) will have a caveat in them that the homes must be energy certified. So no more money for first time home buyers unless they are purchasing certified homes.
So I would do what I could for the next 6-9 months, and plan on having everything closed out (loans for buyers) by March 31, 2010, to give myself time to adjust to whatever the new regs may require.
The new regs are heinous - and stipulate everything from insulation to appliances, HVAC systems and outdoor lightbulbs, and I ain't kidding. You should take a day and read it. Your eyeballs will pop out.
Okay, let me start by saying I know very little about these new possible regulations. I'll also say that I am a staunch environmentalist and liberal (in general) but due to my general distrust of politics tend I tend to think many policy decisions from both sides of the aisle are ineffective at best.
Ani, if I'm understanding what you are saying correctly, then in an effort to lessen residential energy consumption C & T will impose penalties on homes that aren't energy efficient. These penalties will come in the way of fewer loans to buy the houses. IF this is the case then people like me who have purchased a "used" older home will really be paying the price when it comes time to sell.
Now I don't know what the specifics are but even despite rennovation in the home (new windows, appliances, etc.) I can't imagine our home would ever be very energy efficiant without major overhauls. Especially in the low end (<100K) market we're in I'd imagine we'd lose a lot of potential buyers if FHA loans weren't available.
The kicker is, part of the appeal of buying a "used" home IMO is that I'm saving an older structure and not contributing to wasteful new building. Even though the home wasn't built energy efficient it's still WAY more environmentally friendly than having a brand new home built! Wouldn't this legislation essentially encourage people to buy new homes, hence de-valuing older homes in which case places like mine are more likely to become "tear downs"?
Like I said, I'm an environmentalist and a liberal but there is no reason those qualities can't be translated into policy that actually MAKES SENSE. If they want to encourage energy efficiency then impose penalties on and give incentives to INDIVIDUALS based on consumption. I mean, I'm sure many of the much bigger new homes are "energy efficient" on paper but as far as actual energy consumption goes our tiny house with it's 1 bathroom, unwatered lawn, rain barrels, etc. is actually a lot more responsible. I at least hope there is government assistance that helps toward certification for homeowners like us that would love to become more energy efficient but find the cost prohibitive.
(sorry, rant over. Ani if you have a link that describes the Cap & Trade I'd love to see it. I briefly searched but so much of what I found was very partisan one way or the other & I don't trust it...)
JanGirl - I am also big into conservation and realistic steps to reduce waste and over-use of resources - so I totally get where you are coming from. Plus, I think we all are happy to do things that reduce our energy bills. But as you are pointing out . . . some things are very expensive and don't have a return on investment for many, many years. And some things would be nearly impossible to retrofit in many older homes.
Well, the penalties are undetermined. There are penalties that one must pay annually if the home is over a certain square footage (2500 sq. ft I believe). That is an annual fee. There is the fee you have to pay to have your house inspected for certification and the way the law is written, every single home in America must be certified, and the states will have some leeway as to fees. In other words, some fees may be underwritten by the states. For poverty level individuals, the fees are underwritten. In addition, for anyone at poverty level (and the threshold was changed - like - to 200% I think, for purposes of this energy stuff) . . . their retrofitting is a freebie that the gov't is gonna underwrite. In other words, you will have to pay for YOUR own retrofits and your tax $$$ are also gonna pay for OTHER PEOPLE's retrofits, if you can fathom that.
In addition, the bill at the time I read it, plainly states that FHA will NOT UNDERWRITE ANY LOANS on homes that are not energy certified. Now, FHA loans make up over HALF of the loans in this country. So you can imagine what impact this would have on the mortgage industry, but strangely - those folks have been silent. (They probably haven't read the bill - it is immense and written in contorted, difficult to understand legalese).
Of course, til it hits the floor, all legislation is subject to change. But I have just outlined the very tip of the iceberg in this bill, wh/ was over 1100 pages at the time I read it. In fact, it may have been at 1400 pp, I just can't remember. (I am an editor and so read at mega-speed, but it took me about 10 hours to read the whole damned thing - and that was w/ skimming the stuff that applied to municipalities).
Here's the most heinous thing in that legislation, as far as national regs. And you won't believe it, LOL. No one has believed me when I have told them about this.
The government is going to incentivize the manufacture of all appliances (i.e., dishwashers, clothes washers, stoves, etc). Yep. The government is going to PAY an incentive PER APPLIANCE to whatever manufacturer (no matter where they are located) who comes up w/ the most energy efficient appliances. And the "bounties" are outrageous. I can't remember the actual figures but this is close:
$75 per clothes washer, $150 per refrigerator, etc.
I AM SERIOUS!!! It is spelled out in the bill!!!! That means, if China is manufacturing the appliances, then our government is gonna underwrite Chinese manufacturing companies at the tune of literally billions of dollars. Now, why aren't they just giving us all a tax break on those appliances? Well, it is all a big scheme to underwrite trade with China. I know it sounds impossible!!!! I have contacted legislators and even they are like - HUH???? But it is in the legislation for anyone to read. Sadly, no one seems to have read it!!!!!
Here it is. And remember - this was Waxman's big baby and anything Waxman is behind is gonna cost us all a bizillion dollars. The man must think all we have to do is warm up the presses and print money cause there has never been a piece of legislation that Waxman touched that didn't create bureaucracy and cost the federal government (and each of us) an arm and leg.
And do not believe ANYTHING you hear from pundits. I am telling you - they are getting their info from TALKING POINTS that are being distributed by interest groups. I don't trust any of them!!! Get your info for yourself.
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Ani if you have a link that describes the Cap & Trade I'd love to see it. I briefly searched but so much of what I found was very partisan one way or the other & I don't trust it...)
