3 Ways To Make Your Home More Green For Less Than $200; CFLs, LEDs Lead Way To Energy Efficiency

The problem with many, excellent green products for the home (e.g., rooftop wind turbine, solar panels) is the high initial investment and the long payback period.

There are some conservation measures that homeowners can take that cost less than $200 and realize immediate benefits:

1. Lighting: CFLs (compact fluorescent light bulbs) and LEDs (light-emitting diode bulbs) are more energy efficient that regular incandescent lamps and can significantly reduce cooling costs. CFLs (seen above) are more widespread. LED bulbs may be up to 40 times more expensive than incandescent bulbs, but use only one-fifth the energy and last up to ten times as long.
2. Toilet Retrofitting: Kits which provide single flush and dual flush capabilities to tanks cost as little as $30.
3. Ceiling Insulation: A major source of energy loss in a home is an uninsulated attic access door. A $200 investment in a new pulldown system can significantly lower your heating and cooling bill.

[LA Times]

Buyers Willing to Pay 2% Premium for Green Living

There's plenty of brouhaha surrounding everything green and eco-friendly in residential building. Developers of new projects tout their energy-efficiency, non-toxicity, and sustainability just as granite counters and mega-closets were promoted earlier this decade.

Hybrid cars and reusable shopping bags have inspired passion in consumers. But what about green homes? The builders are building them, but will the buyers come?

According to the National Association for Homebuilders, buyers like everything green, but when it comes to signing on the dotted line, they're not willing to pay much of a premium.

"Although we are seeing significant interest in green building, cost effectiveness is clearly a key concern among buyers. Builders said that among buyers who are willing to pay more for green features, more than half—57 percent—are unlikely to pay more than an additional two percent." [Multi-Housing News]

That's not much of a margin. Since consumers won't pay big bucks for green living, the burden may fall on governmental forces in order for sustainable projects to become widespread.

One of the leaders in promoting green building has been West Hollywood, with one the strictest green ordinances in the country. The city requires drought-resistant landscaping, energy-efficient appliances, and low VOC paint in any new buildings or renovations.

Green projects are cropping up all across the city. EVO South in Downtown Los Angeles is the city's first LEED Silver-certified building. The feeling of walking into this pristine, 24-story high-rise with all new surfaces -- that doesn't smell like a glue factory -- is a surprising, and pleasant one.

Remodeling Tax Credit For Homeowners

A little known part of the Economic Stimulus Package is a tax credit for homeowners who make their properties more energy efficient. The current version of the tax credit is a “sweetened” version of an initial remodeling credit introduced last fall.

Under the old remodeling credit, which was part of the economic rescue package enacted last fall, homeowners could claim a credit equal to 10% of the cost of energy-efficient windows, doors, roofing, insulation, furnaces, air-conditioning systems and heat pumps. They could claim 10% of the cost of each product, up to a lifetime cap of $500.

Remodelers maintained that the energy credit wasn't sufficient to persuade owners to make upgrades.

So Congress upped the ante, raising the per-item credit to 30% of the cost and boosting the lifetime ceiling to $1,500. It also extended the deadline for making the improvements to the end of 2010.

The stimulus package also expanded the list of permissible improvements by including solar-energy panels and water heaters, geothermal heat pumps, small wind-energy systems and fuel cells. Moreover, while the 30% credit applies to the added products, there is no cap on their cost, and the credit is available through 2016. [Los Angeles Times]

Get those Energy Star appliances – it’s on Uncle Sam!

"Green" Money for Free!

The “Emergency Economic Stabilization Act of 2008” was passed into law - a barely publicized “sweetner” to the new Bill was an unlimited tax credit for installing some alternate energy systems.

Solar Water Heating systems have been approved for 30% of the cost of the system or up to $2,000. If you install a Photovoltaic System (electricity via solar power) to your house you can claim up to 30% of the total cost! That’s is a potential credit of around $7,500-$9,000 based on the cost of typical system.

Other items that would be considered “energy efficient home improvements” are replacement windows, insulation, small wind energy systems and non-solar water heaters. The maximum claim amount allowed is up to $500 for these types of improvements.

How it works is if you want to install qualifying energy efficient products into your home from January 1, 2009 through December 31, 2009 you can earn tax credits. Unfortunately 2008 installations do not qualify for the tax credit.

So now you will be rewarded for taking the time to make energy efficient improvements to your home and help save valuable resources at the same time.

Great Solar Website, Go to www.BuySolarPanelsHere.com

How do you think this will motivate people to get involved with the "Green Movement"?

To your success,

Oliver Graf
Real Estate Expert
Follow me on Twitter: Twitter.com/OliverGraf360



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How Green Is West Hollywood?

West Hollywood is a notoriously high-barrier-to-entry marketplace for all things real estate -- home-ownership, income property-ownership and real estate development. This liberal-minded, forward-thinking, tree-hugging community created legislation last year that will preserve its exclusive and visionary reputation -- the Green Building Ordinance of October 1, 2007. Hold onto your LEED hats! -- this program is among the most innovative -- and restrictive -- green building programs in the nation.

Specifically, the program applies to all new development -- both residential and commercial -- as well as remodels for homeowners and landlords. The goals are to:

• Save energy
• Conserve water
• Reduce waste
• Add longevity and durability
• Protect natural resources
• Create a healthier living environment

The initiative, which includes measures to incorporate drought-resistant landscaping, low-flow plumbing fixtures, energy efficient appliances and low VOC paint should have long-term side benefits of lower utility bills and improved air quality for all residents. In addition, any new public buildings will be LEED certified (Leadership in Energy and Environment Design).

The City of WeHo has been gutsy in implementing -- and enforcing -- these stringent building requirements. Developers and landlords will have no choice but to pass on their increased costs to buyers and tenants. Consumers, however, may absorb this premium with a smile -- just as they've embraced nicely-packaged, costly Method cleaning products and hybrid Lexus SUVs.

Always a bold leader, never a follower, the City of West Hollywood is indeed creating a model city for the future. To see how effective it's been, climb a bamboo stalk and take a deep whiff of the very clean local air!

http://www.adnergroup.com/

William Morris Ankles El Camino Drive

Venerable talent agency William Morris plans to decamp from its current digs, three trophy properties located at 150 S. Rodeo Drive and 150-151 S. El Camino Drive in Beverly Hills. The buildings are located in the Beverly Hills "Golden Triangle", an area of top-shelf office and retail, where vacancy hovers at a punishingly low 2.9%. Unlike CAA, which bailed from its long-time Beverly Hills home, WMA intends to remain in the 90210 and has hired architectural firm Gensler to develop a green building with recycled materials and energy-efficient water and lighting systems on Beverly Drive. Green is good, but the true challenge will be reprogramming talent agents to eliminate first class air travel, Ferrari driving and Evian water consumption in order to reduce the company's carbon footprint.

www.adnergroup.com