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You’ve probably heard about “Cash for Clunkers” and the first-time home-buyer credit.  But, there’s another credit available.  It helps to make your home more energy efficient, but many homeowners don’t know how to qualify.  The upcoming 5×10 Improvement workshop will teach you how. 

The workshop’s name means that homeowners can take five steps for no more than $5000 by 2010 and dramatically improve their home’s energy efficiency.  Homeowners who follow the steps can expect to save 10-30% on their utility bills every month, save up to $1500 on the project costs with a tax credit, and protect the long-term resale value of their home. 

The free workshop will be held on Wednesday, October 21^st from 7-9 p.m.  Attendees will create a personal action plan that identifies their top projects, and a rough budget and tax credit estimate.  To encourage open-minded planning, ENERGY STAR best practices will be shared but no individual products or services will be promoted.

The workshop is presented by Laura Reedy Stukel , EcoBroker Certified sales agent with L.W. Reedy Real Estate.  Stukel specializes in helping clients buy or sell “not-YET-green homes” and facilitates smart green improvements after closing.  The workshop draws on her own project that earned her recognition as Better Homes & Gardens magazine’s 2008 Green Improvements remodeling winner.  

The workshop will be hosted by LINDAM Property Group at 250 N. Myrtle Avenue in Elmhurst, the first new green home of its kind for sale in Elmhurst.  Evite users can register at http://budurl.com/5×10evite , or contact Stukel at 630-434-4957 or l.reedystukel@lwreedy.com.  Registration closes on Monday, October 19^th. 

“The tax credits towards home energy efficiency are the quickest, smartest path towards an inventory of greener home in Elmhurst,” says Stukel.  “Homeowners who take advantage of this opportunity will have a market advantage for resale either now or down the road.”

There’s nothing I love better than tracking deadlines.  And in thinking backwards…here are some key dates anyone interested in this credit should be aware of:

*  Nov 30th is deadline for a property to close to qualify (Monday)

*  Nov 27th  is the last Friday in November – buyers love to close on the last Friday of the month

*  Nov 26th is Thanksgiving

*  Nov 15th is my recommended closing deadline date (in case the title companies get backlogged over Thanksgiving!)

*  Oct 1st is my recommended date to have a purchase contract complete (in case the appraisers get backlogged) 

Also, time has more or less run out on a short sale property being eligible for the first-time credit.  Typically these properties require 90 days or more to close.  As of right now, we are 109 days out from November 30th.  That doesn’t leave too much room for delay on a short sale.

Please consult your tax professional for more advice about the credit.  And if you want more information about purchasing a home right now I would love to help.  My Ready, Set, Green Homes programs might qualify you in an additional $1500 credit by making your new home more energy efficient! 

Here’s a link to all the great websites I recommend to make your home more energy efficient:

Step 1: Get an Energy Audit: RESNET is a good place to find a certified rater in your area.

Step 2: Air-Seal and Weatherize: Great do-it-yourself videos from Green Dream Group in Chicago.

Step 3: Implement Bigger Projects: Tips and links to get the most bang for your buck are available in my blog post $3500 Toward Energy Efficiency – How to Spend It

Step 4: Apply for tax credits: Check the Energy Star website for details, and consult a tax advisor.

For more information on green financing check out Green Solutions Lending: http://www.greenmortgagenews.com/

Remember that anyone who stopped by my booth qualifies for a free energy audit on their home sale or purchase in 2009! See instructions at the bottom of this page.

And, of course the seller is still providing the $3000 closing cost credit for the buyer to make green upgrades after closing.  Additional seller, lender and tax credits then kick in making the total green benefits package around $4650!  A really great opportunity for someone to fix the home just the way they want it and see a large reduction in utility bills right away. 

For an explanation of how the green credits would work check out the video profile produced by Chicago Magazine/Deal Estate.

The unit already has some other great green features.  Townhouses by nature make good use of the land they are on and shared walls, etc. improves efficiency.  The home also has new, efficient Low-E windows downstairs and a south-facing exterior that maximizes natural light and passive solar heating without overheating the space in the summer like you might experience in a west-facing unit. 

Come check it out!

Just as important as a good green loan is great customer service. Erin did my own green refinance so I know she’s got a smooth process to get to closing.

Check out her website for more info: www.greensolutionslending.com

Had the chance to meet with Dennis Rodkin of “Deal Estate”/Chicago Magazine fame earlier in the month. He came out to my Ready, Set, Green Home listing in Wheaton to see my new program in action. We had a really fun chat about what I’m working on and the huge opportunity I see to make existing, affordable homes more green. He has covered a lot of what is happening with the higher end/new construction green homes and was excited about the niche that I’m trying to fill. You can see his article and video story on his blog.

I think he really captured the essence of what I am trying to do…there are so many more existing homes than green homes. So let’s try to figure out easy ways to help owners of those homes make them green. There are so many more buyers of mid- to lower-range homes, so let’s help them get a jumpstart on creating green homes. And, there are a lot of homes that are sitting, so let’s get those homes sold by making them more appealing to green buyers. Hopefully his feature will help me get the word out to a lot more people so that more buyers and sellers, and even the agents that help them can get some momentum going in this space! Would love it if you want to help me get the word out too.

And, if the video gives you ideas on how you can improve your own home, or help you sell your current home, leave your ideas here. Or I’m always available to talk more!

Making Green Affordable – Deal Estate – ChicagoMag.com

I have summarized what I thought were the key points and take-aways to create a green home that is energy-efficient into one summary that follows.  

First, if you do nothing else think about weather-stripping/air sealing your home.  They end up being the cheaper projects to do, can be done by most do-it-yourselfers, and make other improvements such as adding insulation or upgrading a furnace more effective.  Check out the great DIY videos on Corbett Lunsford’s Green Dream Group website.  http://www.greendreamgroup.com/services/weatherization/ (Toggle over the sides of the video screen to see the arrows that will get you to more clips.)

If you don’t know where to start, an energy audit really is a good place.  You will get objective data on where your home is leaking and a prioritized list of projects to start making it more efficient.  Since an energy auditor does not sell products he/she can look at what’s happening with your whole house before you start to focus on specific areas such as windows, HVAC, etc.  If you hire an energy auditor make sure they are going to provide you with a blower door test and an infrared scan.  The fee in Chicago is usually around $400.  You can get info on Green Dream Group’s website, as well as review a video of an audit to learn what happens.  http://www.greendreamgroup.com/services

Once you are ready to start a green home remodel project you need to think about the contractors you will be working with.  For a community like Elmhurst where the skills of green builders is still growing, Marty Bhatia of Om Homes suggests asking good questions such as finding out how many green projects the builder has completed, and watching out for someone who just seems to be dropping in trendy buzzwords.  He also concurred with Corbett that the outside of your home (also called the envelope) is a great place to look for green opportunities.  If you are opening walls anyway, it is the perfect opportunity to add insulation for energy-efficiency.  Marty mentioned a project where they essentially reinsulated the house on the outside first and then added the new exterior shell around that.  The home now has total annual utility expenses of only $650 per year.  www.OmHomesOnline.com

As far as selecting products, the panel really encouraged homeowners to understand priorities and pick your areas where you want to stay the most green.  Sometimes you cannot accomplish it all.  Maria Onesta of Green Home Experts recommended following your heart…and then your wallet!  Maria is offering 10% off to anyone who mentions the seminar.  http://www.ghexperts.com/

Finally, once the work is done as a Realtor specializing in energy-efficient and green homes I see potential for increased market value in the long-term.  For the short term, incentives included in the stimulus package offer savings on certain projects:  http://www.energystar.gov/index.cfm?c=products.pr_tax_credits.   The Ready, Set, Green Homes (sm) program is a great marketing program for sellers or tool for buyers.  Either way, it creates an opportunity for a buyer to put together a benefits package towards energy-efficient upgrades in their new home.  Through December 31, 2009 any first-time home buyer or anyone who attended the seminar (or their friends or family) can get one free energy audit.  

Feel free to contact me or any of the presenters for more information. 

Check out the detailed listing info: http://www.ecobroker.com/eb/propertyview.aspx?id=1178
http://www.realtor.com/Prop/1107178050

Corbett, Green Dream Group – energy audits – http://www.greendreamgroup.com/services
Marty, Om Homes – green building – www.OmHomesOnline.com
Maria, Green Home Experts – green housewares – http://www.ghexperts.com/
Greg, A Better Crawlspace – http://www.crawlspaces.com/products-solutions.html (info on crawls and sprayfoam available here)
Erin, Corby Mortgage – green loans – www.greensolutionslending.com/
Barbara, Benjamin Moore Natura paint line – www.jclicht.com/page/1/
Laura, LW Reedy Real Estate – energy-efficent real estate/green homes near Elmhurst – www.greenreedyhomes.com

http://www.delta-institute.org/rebuildingexchange/
http://www.habitat.org/cd/env/restore_detail.aspx?place=58
http://apps1.eere.energy.gov/consumer/
http://www.energystar.gov/index.cfm?c=home_improvement.hm_improvement_index

If you have been putting off buying a home, this could be a reason to get off the fence!  Now you have great incentives to take action – and it all leads to lower overall bills.

First, the stimulus package includes a provision for up to $8000 tax credit for 1st time home purchases.

Details are still evolving and there are restrictions.  But here’s a first look at the opportunities for folks who are interested in a more energy-efficient home.  Check back for updates.

• Up to $1500 tax credit for green upgrades such as high-efficiency furnace, windows and insulation between now and 2010
• Funding for federal and state rebates for replacing old appliances with Energy Star ones
• 30% credit for solar, wind and geothermal upgrades (cap removed) 

Top that with my Ready, Set, Green Homes (sm) program:

• Free energy audit for clients between now and March 31, 2009 to get your list of projects started in the right direction (Credit of $400 at closing toward “blower door test”) 
• Help in locating Energy Efficient Mortgage/Energy Improvement Mortgage to help you finance the cost of other green improvements or other green financing that offers you a no-closing cost, low rate mortgage as a reward for creating a greener home

Please consult a tax expert or a lender to assess how these opportunites apply to your specific situation.  Here’s a link to a website that offers some details on the stimulus package passed on 2/13/09 and the energy-efficient highlights.   http://ase.org/content/article/detail/5388