IS A SOLAR-THERMAL HOT WATER SYSTEM FOR YOU?

 
We Americans take our hot water for granted—we love our soaker tubs, and many of us just can’t start the day without a vigorous shower. But it’s not free. According to the U.S. Department of Energy, on average we spend about $308 per year, per household, just to have hot water ready at the twist of a faucet handle. But you could slash that figure in half, or more, with a solar-thermal system—a proven renewable-energy technology that enables the rays of the sun to heat your home’s hot-water supply.

THE FUEL IS FREE

Both solar-thermal systems and more costly solar-photovoltaic panels—which use the sun to generate electricity—can make a significant dent in your utility bill. But with a solar-thermal system, instead of generating energy, you’re saving it.

“When compared to solar-electric panels, it is a lower-cost option,” says Monique Hanis, a spokesperson for the Solar Industries Association. “A system for a home would run anywhere from $4,000 to $6,000, and that could take care of a good chunk of your hot-water needs.”

Those ballpark figures don’t include the across-the-board federal tax credit that knocks 30% off the cost of a system, plus there are additional state and local-government incentives that can trim set-up costs even more. (Check the Database of State Incentives for Renewables & Efficiency for relevant programs in your area.) Maintenance is minimal, and collectors should last for 20 years or more.

HOW SOLAR-THERMAL WORKS:

All solar-thermal systems feature glassed-covered boxes or sets of tubes that contain fluid-filled piping. The systems can be divided into two basic categories—direct and indirect.

In an indirect system, a pump continually circulates an antifreeze solution between the collector mounted on your roof and a heat-exchanger coil located inside your home’s hot-water tank. A pump circulates the antifreeze solution between the solar panel—where the sun heats it—and the coil, where it raises the temperature of the water in the tank.

The second type of solar-thermal system, called a direct system, circulates household water directly through the solar collector. This setup is only appropriate for regions, such as Hawaii and Florida, that don’t experience winter freeze-ups.

Either type of thermal collector is so efficient that it will produce hot water even on a cloudy day—though a snowfall will bury and temporarily disable a collector until warmer temperatures melt the snow off.

HOW MUCH YOU WILL NEED:

A solar contractor/installer will evaluate your property’s potential for capturing solar radiation throughout the year, but your house is likely a good candidate if one side of its roof faces south, without too much shading from tall trees and structures. A pair of 4-by-8-foot collectors will significantly reduce the cost of heating hot water for a family of four.

How much you’ll save depends on where you live. The National Renewable Energy Laboratory has researched the degree to which a solar-thermal system can reduce a homeowner’s energy bill in various regions of the country. The lab expresses this savings via a rating known as a “solar fraction.”

Put simply, a solar fraction is the percentage of a home’s water-heating energy needs that could be met with a rooftop collector. For example, a solar fraction of 60% means that the solar-thermal hot water system would reduce the amount of energy a home used to heat hot water by 60%. In Harrisburg, Penn., Albany, NY, and Eugene, Ore., the solar fraction is 50%. In Fort Worth, Texas, and Tampa, Fla., it’s a whopping 75%.

RESEARCHING SOLAR-THERMAL COLLECTORS:

Last fall, the U.S. Department of Energy added solar-hot water systems to its EnergyStar program. You can browse approved solar water heaters on the Energy Star web site, and discuss which model best suits your needs with an installer. Bear in mind that solar-thermal collectors are not do-it-yourself projects. The North American Board of Certified Energy Practitioners certifies solar-thermal installers. As of late 2009, the group’s web site lists 97 professionals across the country who sell, install, and service the systems.

If you’re interested in saving energy and harnessing the free power of the sun, a solar-thermal water-heating system is an attractive option.

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Article written by James Glave. James Glave is the author of “Almost Green: How I Saved 1/6th of a Billionth of the Planet.” He has been reporting on the challenges and opportunities of sustainable development full-time since 2005.

HOME OWNERSHIP REALLY DOES MATTER

As a real estate professional, I know that America is a nation of homeowners—67% of American households are owner-occupied. And housing is a key driver of our economy, accounting for 15% of our Gross Domestic Product in general. Research shows that for every home purchased, $60,000 is pumped into the economy for furniture, home improvements and related items. Plus homeowners pay 80-90% of individual federal income taxes, contributing to federal programs that benefit all Americans.

Yet some of our politicians question the value of homeownership and whether it is worthy of the tax benefits currently available. Some media reports even contend that changing federal policies and eliminating tax incentives that support homeownership, such as the Mortgage Interest Deduction, might even be in the public’s best interest.

For more than 100 years, REALTORS® have championed homeownership as a fundamental part of the American Dream. Now more than ever, we must stand up for homeownership. And with the help of the NATIONAL ASSOCIATION OF REALTORS®’ (NAR’s) I have pledged to spread the word about the value of homeownership to my clients, community and elected officials.

“There are some, mostly in academic circles and in the media, who have been questioning the value of homeownership and the importance of incentives for homeowners,” says Pamela Geurds Kabati, vice president of Public Affairs and Consumer Media. “They ask whether we wouldn’t be better off as a nation of renters. As an industry, we have to stand up and say, ‘Absolutely not.’ We need our voice to be loud and clear to influence the court of public opinion and policymakers. Homeownership provides homeowners, their communities, and our country with so many benefits.”

HOME OWNERSHIP MATTERS:

Homeownership has a significant, positive impact on net worth, educational achievement, civic participation and overall quality of life. Owning a home is one of the best ways to build long-term wealth. In the past 12 years, a typical homeowner’s net worth has been 31-46 times that of a renter. Plus, most homeowners enjoy stable housing costs. In fact, studies show that fixed rate mortgage payments typically stay the same, while rent has increased at an average rate of approximately 3% per year in the last 10 years.

The National Association fo Realtors believe that homeowners contribute more to their communities by voting and volunteering more. They do not move as frequently as renters, bringing stability to neighborhoods, which helps reduce crime and support upkeep.

And it has been shown that homeowners enjoy a better quality of life. They tend to be happier and healthier, and feel a greater sense of control over their lives. They are free to redecorate, renovate and modify their homes as they wish. And their children tend to do better in school and stay in school longer, according to a recent white paper by NAR titled “The Social Benefits of Home Ownership.”

To learn more about why Home Ownership Matters, visit www.REALTOR.org/homeownership where you’ll find everything you need to keep you current on the debate, including articles, stats and data, blog posts, videos, and webinars.

NAR will continue to fight to preserve this important institution through advocacy and outreach to lawmakers, consumers and the media. NAR will continue to lobby policymakers in Washington, DC, and its consumer website, www.Houselogic.com, will help reinforce the benefits of homeownership.

So spread the word. Because homeownership really does matter.

A POEM: THE AMERICAN SOLDIER STANDING GUARD AT CHRISTMAS

The embers glowed softly, and in their dim light,
I gazed round the room and I cherished the sight.
My wife was asleep, her head on my chest,
My daughter beside me, angelic in rest.
Outside the snow fell, a blanket of white,
Transforming the yard to a winter delight.

The sparkling lights in the tree I believe,
Completed the magic that was Christmas Eve.
My eyelids were heavy, my breathing was deep,
Secure and surrounded by love I would sleep.
In perfect contentment, or so it would seem,
So I slumbered, perhaps I started to dream.

The sound wasn't loud, and it wasn't too near,
But I opened my eyes when it tickled my ear..
Perhaps just a cough, I didn't quite know, Then the
sure sound of footsteps outside in the snow.
My soul gave a tremble, I struggled to hear,
And I crept to the door just to see who was near.

Standing out in the cold and the dark of the night,
A lone figure stood, his face weary and tight.
A soldier, I puzzled, some twenty years old,
Perhaps a Marine, huddled here in the cold.
Alone in the dark, he looked up and smiled,
Standing watch over me, and my wife and my child.

"What are you doing?" I asked without fear,
"Come in this moment, it's freezing out here!
Put down your pack, brush the snow from your sleeve,
You should be at home on a cold Christmas Eve!"
For barely a moment I saw his eyes shift,
Away from the cold and the snow blown in drifts..

To the window that danced with a warm fire's light
Then he sighed and he said "Its really all right,
I'm out here by choice. I'm here every night."
"It's my duty to stand at the front of the line,
That separates you from the darkest of times.

No one had to ask or beg or implore me,
I'm proud to stand here like my fathers before me.
My Gramps died at ' Pearl on a day in December,"
Then he sighed, "That's a Christmas 'Gram always remembers."
My dad stood his watch in the jungles of ' Nam ',
And now it is my turn and so, here I am.

I've not seen my own son in more than a while,
But my wife sends me pictures, he's sure got her smile.
Then he bent and he carefully pulled from his bag,
The red, white, and blue... an American flag.
I can live through the cold and the being alone,
Away from my family, my house and my home.

I can stand at my post through the rain and the sleet,
I can sleep in a foxhole with little to eat.
I can carry the weight of killing another,
Or lay down my life with my sister and brother...
Who stand at the front against any and all,
To ensure for all time that this flag will not fall.."

" So go back inside," he said, "harbor no fright,
Your family is waiting and I'll be all right."
"But isn't there something I can do, at the least,
"Give you money," I asked, "or prepare you a feast?
It seems all too little for all that you've done,
For being away from your wife and your son."

Then his eye welled a tear that held no regret,
"Just tell us you love us, and never forget.
To fight for our rights back at home while we're gone,
To stand your own watch, no matter how long.
For when we come home, either standing or dead,
To know you remember we fought and we bled.
Is payment enough, and with that we will trust,
That we mattered to you as you mattered to us."


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PLEASE, would you do me the kind favor of sending this to as many
people as you can?

Christmas is upon us and some credit is due to our U.S service men and women for our being able to celebrate these festivities. Let's try in this small way to pay a tiny bit of what we owe. Make people stop and think of our heroes, living and dead, who sacrificed themselves for us.


By an Anonymous and Gratefull American Citizen

SALES OF EXISTING HOMES GAINED GROUND IN NOVEMBER 2010

Existing-home sales got back on an upward path in November 2010, resuming a growth trend since bottoming in July, the National Association of Realtors (NAR) reported Wednesday.

Sales of previously owned homes rose 5.6 percent last month to a seasonally adjusted annual rate of 4.68 million, according to the trade group’s market study. That follows a 2.2 percent drop during the month of October when the annual sales rate was at 4.43 million units.

Distressed homes accounted for 33 percent of the month’s total sales volume. Housing inventory at the end of November fell 4 percent to 3.71 million existing homes available for sale, which represents a 9.5-month supply at the current sales pace. That’s down from a 10.5-month supply in October.

Paul Ashworth, chief U.S. economist for the research firm Capital Economics, says despite the November gains, sales are running at about the same pace we saw during the worst of the financial crisis in the first quarter of 2009.  According to Ashworth, home sales are still down by more than a third from the homebuyer tax credit induced rebound earlier this year and down by 40 percent since the peak in 2005. 

“Put in that context, it would be more than a stretch to characterize this latest uptick as a meaningful recovery,” he said. “The more appropriate description is that housing is still bouncing along the bottom.”

Still, Lawrence Yun, NAR’s chief economist, says the numbers bode well heading into the new year. “Continuing gains in home sales are encouraging, and the positive impact of steady job creation will more than trump some negative impact from a modest rise in mortgage interest rates, which remain historically favorable,” Yun said.

Yun added that homebuyers are responding to improved affordability conditions. “The relationship recently between mortgage interest rates, home prices, and family income has been the most favorable on record for buying a home since we started measuring in 1970,” he said. “Therefore, the market is recovering and we should trend up to a healthy, sustainable level in 2011.”

NAR’s study shows that the median price for existing-homes sold nationwide in November was $170,600, up 0.4 percent from November 2009.

Foreclosures, which accounted for two-thirds of the distressed sales share last month, sold at a median discount of 15 percent, while short sales were discounted 10 percent in comparison with traditional home sales, according to NAR.

A parallel NAR practitioner survey shows first-time buyers purchased 32 percent of homes in November, the same as in October, but well below their 51 percent share in November 2009 from the surge to beat the initial deadline for the first-time buyer tax credit.

Investors accounted for 19 percent of transactions in November, also unchanged from October, but are up from 12 percent in November 2009. The balance of sales were to repeat buyers.

All-cash sales were at 31 percent in November, up from 29 percent in October and 19 percent a year ago. Yun says the elevated level of all-cash transactions continues to reflect tight credit market conditions.

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Article by Carrie Bay - http://www.dsnews.com/

NEW MORTGAGE APPLICATIONS FALL AS RATES RISE FOR THE FIFTH STRAIGHT WEEK

Data released by the Mortgage Bankers Association (MBA) Wednesday shows that consumer demand for mortgages waned last week as interest rates soared to their highest level in nearly seven months.

MBA’s index of total mortgage application volume slipped 2.3 percent for the week ending December 10, 2010, when compared to the previous week.

The organization’s index of new applications for home purchases plummeted 5.0 percent from one week earlier, breaking a three-week streak of increases, but MBA says its purchase index remains near levels last seen in early May.

With mortgage interest rates up more than half a percentage point over the past month, it’s no surprise that refinance activity has also declined sharply. MBA’s refinance index decreased 0.7 percent last week, marking the fifth straight weekly decline for the trade group’s gauge.
MBA reported that the average contract interest rate for 30-year fixed-rate mortgages increased to 4.84 percent for the week ending December 10, up from 4.66 percent the week before – nearly a 20 basis point jump in a mere seven days. This is the highest 30-year fixed-rate observed in the group’s weekly survey since the beginning of May

The average contract interest rate for 15-year fixed-rate mortgages climbed 23 basis points to 4.21 percent last week, up from 3.98 percent the previous week. It’s the highest 15-year fixed-rate reported by MBA since the beginning of June.

“Treasury rates increased last week following news that lower tax rates could be extended for another two years, boosting growth prospects. With this move, mortgage rates reached their highest level in more than six months,” said Michael Fratantoni, MBA’s VP of research and economics.

The Federal Reserve held fast to its plan to buy up $600 billion in Treasury securities at its monetary policy meeting Tuesday. The strategy is intended to keep Treasury rates low, and in turn also drive down mortgage interest rates. But it has yet to bear out the desired outcome, as Fratantoni explained, because of other economic factors that are having a greater influence on the markets.

Paul Dales, U.S. senior economist for the research firm Capital Economics, says it is too soon to judge whether the Fed’s latest round of capital infusion, dubbed QE2, has been a success or a failure.

“[I]n recent weeks the economy has picked up momentum. And … the proposed second fiscal stimulus, if signed into law will surely put less of the burden to boost the economy on the Fed,” Dales said.

“These two developments explain why the markets are not convinced that the Fed will complete the $600bn of Treasury purchases announced at the last meeting in early

November,” Dales continued. “Indeed, Treasury yields continued to rise after [Tuesday’s policy meeting]. But the Fed was never going to perform a u-turn and shrink the size of QE2 just six weeks after announcing it.”

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Article written by Carrie Bay - DSNews.com

MORTGAGE RATES ON THE MOVE AGAIN........UPWARD!

They’ve been sitting at half-century lows for months now, but that trend appears to have snapped as mortgage interest rates across the board rose again this week. One industry report released Thursday points out that long-term rates have been heading upward for three weeks straight; another says they’ve now hit a four-month high.

Freddie Mac’s latest survey puts the average rate for 30-year fixed-rate mortgages at 4.46 percent (0.8 point) for the week ending December 2. That’s up from last week’s average of 4.40 percent. Last year at this time, 30-year fixed mortgages were averaging 4.71 percent, according to the GSE.

Freddie’s results are based on data gathered from about 125 lenders nationwide, including thrifts, credit unions, commercial banks, and mortgage lending companies. Rates offered for 15-year fixed mortgages averaged 3.81 percent this week (0.7 point), up from 3.77 percent the week before.

Shorter term mortgage rates also rose in Freddie Mac’s survey. The 5-year adjustable-rate mortgage (ARM) averaged 3.49 percent (0.6 point), up from 3.45 percent last week. The 1-year ARM came in at 3.25 percent (0.6 point), up from 3.23 percent.

Nothaft, VP and chief economist for Freddie Mac, explained that mortgage rates followed bond yields higher this week after newly released economic data suggested the economy may be stronger this quarter than in the third quarter.

A separate study released by Bankrate Thursday called the latest move upward by mortgage rates “notable,” as they hit their highest mark in four months in the company’s survey. Bankrate’s figures are derived from data provided by the top 10 banks and thrifts in the top 10 U.S. markets.

The tracking firm reported that the benchmark conforming 30-year fixed mortgage rate rose to 4.71 percent (0.36 point) this week. That’s up pretty significantly from 4.58 percent reported by the company last week.

The average 15-year fixed mortgage increased from 3.97 percent to 4.07 percent (0.35 point) in Bankrate’s study. The larger jumbo 30-year fixed rate jumped as well, settling at 5.29 percent.

Bankrate also documented a rise in adjustable rate mortgages, with the average 5-year ARM climbing to 3.74 percent and the average 7-year ARM jumping to 4.08 percent.

Bankrate says the November unemployment report due out on Friday could be the catalyst for the next move in mortgage rates, with evidence of solid private-sector job growth fuel for higher rates.

The tracking company’s regular weekly forecast for mortgage rate indicates that we’ll likely see another increase subsequently. Sixty-four percent of the mortgage experts surveyed by Bankrate expect mortgage rates to rise again over the next seven days.

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Article written by Carrie Bay
http://www.dsnews.com/

J.D. POWER AND ASSOCIATES SURVEY SHOWS BORROWER SATISFACTION DECLINING

A study released Thursday by J.D. Power and Associates shows that the time from submission of a mortgage application to approval time has increased by more than a week from the time for approval last year.

In 2009 the average time for approval was 20 days. This year the average is 27.5 days.

In addition to this escalation, the time frame for the entire origination process increased from 46.9 days in 2009 to 52.1 days.

Overall customer satisfaction has decreased five points to 734 from 2009’s level of 739. Satisfaction is measured on a 1,000-point scale.

“While the revised Real Estate Settlement Procedures Act (RESPA) guidelines appear to have streamlined and shortened the time from approval to closing, the unintended consequence is that the application to approval time fame has lengthened and become more complicated,” said David Lo, director of financial services at J.D. Power

He continued, “Ultimately, this longer timeline has a negative impact on overall satisfaction, although there are specific best practices that may mitigate the negative perceptions.”

According to the survey, changes in RESPA resulted in a decrease in the length of time from approval to closing, bringing the average to 24.5 from last year’s 26.9 days.

The 2010 U.S. Primary Mortgage Origination Satisfaction Study is based on responses from more than 3,000 consumers who originated new mortgages. The scale measures satisfaction in four areas of the origination process: application and approval process, loan officer/mortgage brother, closing, and contact.

The Westlake Village, California-based company said the practices most appreciated by customers included providing proactive updates on the status of the loan, providing a welcome acknowledgment after an application is submitted, closing on the promised date, and clearly explaining loan options and ensuring that the customer understands.

Quicken Loans was ranked highest on the satisfaction scale with a score of 826.

Borrowers ranked Bank of America, JP Morgan Chase and Citigroup lowest in the survey, giving them scores of 676, 699 and 691, respectively.

Branch Banking & Trust, last year’s highest ranked company, received a score of 767, a 16 point drop from it score of 783 last year.

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Article written by Joy Leopold - DSNews.com