Being Green

Green is all the rage!  You hear it in reference to just about every marketed product.  Just what does it mean to be “green”?  According to Wikipedia:  Green, along with environmentally friendly, eco-friendly and nature friendly, are synonyms used to refer to goods and services, laws, guidelines and policies considered to inflict minimal or no harm on the environment.^[1] "

Did you know there is no single international standard for environmentally friendly goods and services?  Beware when something is labeled as such, it could mean something different than what you think it should.

So what is a green home?  According to the U.S. Green Building Council’s Green Home guide there are many factors that make up a green home.  Some items to consider are:  location, size of home, building design, building materials, energy efficiency and landscaping.  

Let’s take a look at each of these measures.  Location: the development should not be located on an environmentally sensitive site like wetlands or endangered species habitat.  The development should be compact:  at least 6 homes per acre.

Size of Home:  The smaller the home is the less resources it will use.  In the case of green, smaller is better.

Building Design and Materials:  Is the home designed to use natural light sources? Does the outside have natural shading?  Are the materials recycled or environmentally friendly?

Energy Efficiency:  This covers everything from lighting to heating and cooling and appliances.

 Landscaping:  You should choose drought resistant plants for your yard as well as place shade trees strategically to provide cover for the concrete (driveways and patios) and for the windows.

These are just a few of the factors to look at when considering if a home is “green”.   The biggest consideration, however, should be what features are important to you?   Are you more concerned with saving money monthly with energy costs? Or is it more important that that the materials are recycled and environmentally friendly? 

Are you willing to pay more for these products just to know you have a “green” product?  If you are concerned about the overall price tag of your home, make sure to compare upfront cost vs. monthly savings to make sure it makes financial sense.

Hartland Homes’ homes meet many of these “green” standards.  All of our homes meet the energy star guidelines,

our developments meet the 6 per acre standard, and our homes are smaller and efficient by design.  However, if we do not currently employ the “green” factor that is most important to you, don’t worry, we will be glad to make the adjustment.   Call us today.  We can help you determine what green features you want in your new home and how to make it a reality.    402-477-6668

Home Buyers To Be Charged More By FHA After September 7th

FHA is raising its Mortgage Insurance Premium rates after September 7th, 2010. What does that mean to you? If you are planning on buying a home and do not qualify for VA (military) or have 5 to10% to put down so you can go conventional… you will pay more. About 99% of our customers buy their home with an FHA loan. It requires only 3.5% down, it has the highest income to debt ratios and is more lenient with credit history.

What is the Mortgage Insurance Premium (MIP)? MIP is what FHA charges the buyer in order to have a loan that is less than80% loan to value. This fee should cover FHA’s losses should the buyer default. (Not sure it was enough considering all the foreclosures) FHA is increasing their fees to cover their rising costs (defaults).

How it works: FHA charges an upfront MIP and a monthly MIP. Currently, the upfront premium is 2.25% of the loan amount. For example, on a $150,000 loan, the upfront fee is $3,375. This is added right into the loan (financed) so the buyer doesn’t have to come to the table with extra money. The monthly fee is .55% of the total financed amount. On an $150,000 loan, the monthly fee would be $70.00.

The new amounts will have a lower up front MIP but a higher monthly MIP resulting in a higher house payment. See table below:

Loan Amount	$150,000 today	$150,000 after 9/7/10
Up front MIP	2.25% = $3,375	1% = $1,500
Monthly MIP	.55% = $70	.90% = $114
Principal at 5.5%	$871	$860
Total Principal and MIP	$941	$974

I have not included real estate taxes and home owners insurance as these are not determined by FHA and won’t be affected. The difference is $33 more a month that the home buyer will be paying for the same loan. If you get a case number before September 7th, over 5 years you will save $1,980.00 (using this scenario).

So what can you do about it? Nothing if you wait until September 7th to purchase your home. You must have an FHA case number assigned to the property you are buying before September 7th. So, make sure you write a contract on a home and get into the loan company before September 7th. You do not have to close by that date. Call Hartland Homes today for more information. 402-477-6668

8/12/10 UPDATE **FHA has decided to postpone this change until October 4th!

Click here for more information on FHA.

Examples of payments and premiums are for illustration purposes only and are subject to human error.

Sizzling Summer Interest Rates!!!

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 4.5% for excellent credit scores.

What does this mean????  Interest rates should not be this low.  Ask  a financial planner or a banker and you will see...these rates are being artificially held low.  What that means to you is that it WILL NOT LAST!  These interest rates will be going up soon.  You will probably never have another chance (for 20-30 years) to enjoy such cheap financing. 

Did you know that on a $150,000 home, the  difference between 4.5% and 5.5% interest is a whopping $91.50 more a month? 

If you are serious about buying a home, please do not wait until next year unless you want to pay $100 + a month more for the same home.  (prices of homes will rise too)

30-year mortgage rate drops to 39-year low

(Reuters) - Mortgage rates dropped in the past week, with 30-year fixed-rate loans tumbling to their lowest level in 39 years, according to a survey released on Thursday by Freddie Mac, the second-largest U.S. mortgage finance company.

Click here to read the rest of the story:  Reuters article

YOU Magazine - June 2010 - Great Deals in Housing But Also Potential Speed Bumps Ahead

"If you were offered the chance to buy dollars for a $.70 a piece, how many would you buy? When you compare today's home loan rates to the average in effect for the last 10 years, that is approximately what you are paying. And given lower home prices, there has never been a better opportunity to buy a home than today."

To read more from this month's YOU Magazine click on the link below:

YOU Magazine - June 2010 - Great Deals in Housing But Also Potential Speed Bumps Ahead

Remembering D-day this Memorial Weekend

Recently I had the privilege to visit America's cemetery in Normandy, France  honoring those who died on D-Day.  Thousands of American soldiers gave their lives that day.  Did you know that many drowned in the rough waters before they even made it to the beach? Seeing the area where the Americans stormed the beaches of Normandy both inspired and horrified me.   It horrified me to think how awful it must have been for the soldiers knowing they most likely would not come home.  It inspired me to see how these great Americans sacrificed so that we might have freedom.

How did they find the courage to leave the boat that day and every day after that?  The people who have given their lives for America’s freedom represent the incredible American spirit.  This spirit defines our country. 

Americans, along with the British, Canadians and some French,  freed the French in World War II.   Our soldiers don’t just protect Americans, they protect the world against tyranny, dictatorships and help fight for human rights.

Please take time this weekend to thank a veteran. 

Thank you veterans!!!!!

The pictures featured in this story are of the actual American cemetery at Omaha beach in France.

Lincoln Ne is #5 on Forbes list!

Check it out!
The Best Places For Business And Careers - Forbes.com

Armed Service Members Have Extra Year for Home Buyer Tax Credit

Story courtesy of the NAHB

The National Association of Home Builders (NAHB) wants members of the military, foreign service, and intelligence communities to know that they may have an additional year to buy a home and claim the home buyer tax credit, which expired for most Americans on April 30.

The law provides qualified service members who served on official extended duty outside of the United States for 90 days or more at any time between January 1, 2009, to April 30, 2010, another year to buy a home and claim the credit. They have until April 30, 2011, to sign a sales contract, and until June 30, 2011, to settle and close on the home. Both the $8,000 first-time and $6,500 repeat home buyer tax credits are included in the rule.

“Congress recognized that many service members may have missed out on the home buyer tax credit due to being posted overseas,” said NAHB Chairman Bob Jones, a builder and developer in Bloomfield Hills, Michigan. “It is only fitting that they be given another year to take advantage of this opportunity in appreciation of the sacrifices they have made serving our country.”

“Qualified service members” are defined as a member of the uniformed services of the United States military, a member of the Foreign Service of the United States, or an employee of the intelligence community.

The rule that requires buyers to repay the credit if they move out of their home within three years has also been waived for qualified service members if they have to sell their home due to receiving government orders for extended duty service.

NAHB provides information on the home buyer tax credit, including eligibility requirements and links to home buying resources, on its consumer website www.FederalHousingTaxCredit.com.

For more information, please talk to a Hartland Homes agent today.  402-477-6668

Goodbye $8,000 Tax Credit! Now what?

So the $8,000 Tax Credit has expired and you didn’t find a home.  The good news is that now you can choose the perfect home for you with no time limitations! 

It is still a great time to buy a home!

1)  Low interest rates

2)  Low prices

3)  Save money annually on your income taxes  (itemize your tax return using property tax  and mortgage interest paid)

Additional Reasons to buy a brand new Hartland Home:

4)  You may qualify for an Impact Fee Rebate =that is a credit of up to $4,685 towards your down payment!!!

5)  We pay your closing costs = average savings of $2,500!

6)  Energy Efficient = saves you $$ every month on lower utility bills

7)  Lower house payment the first year because property taxes haven’t been fully assessed = saves you over $100 per month!

8)  10 year structural warranty, 20 year dry basement guarantee and the best warranty in town!

9)  It only takes 90 days to build a home built just for you.

10)  You haven’t found what you wanted in the existing market, why not build and get what you want?

www.hartlandhomes.com

402-477-6668

How Long Will it Last? From Roof to Paint, The Life Expectancy of Your Home’s Components

Just like the human body, your home is made of parts, all working in unison, many unseen and unthought-of during the course of your daily life. From the roof to the foundation, and from the front door to the back, a home consists of literally thousands of components.

Ideally, these components might all have an unlimited life expectancy. But given the realities of day-to-day use, how long can a home owner reasonably expect a home component such as a window or roof to last?

A study conducted by the National Association of Home Builders (NAHB) and sponsored by Bank of America Home Equity provides insight into the life expectancies of a number of products in the home. The study intentionally overlooked consumer preferences, acknowledging that if they were considered, kitchen counters would be replaced long before the end of their useful life, and rooms may be repainted only once in 50 years. Other factors that can have a significant effect on life expectancy include maintenance, proper installation, the level of use and the quality of the materials. And some components, while remaining functional, become obsolete due to changing technology or improvements.

Insulation

According to the study, all types of insulation can be expected to last a lifetime if they are properly installed and are not punctured, cut, burned or exposed to ultraviolet rays and are kept dry. Proper installation not only extends the lifetime of your insulation, it also ensures that it will perform properly, resulting in reduced energy use and expenses, as well as increased home comfort.

Windows

Windows, because they can be exposed to extreme weather conditions, have a much shorter life expectancy. The study, which polled experts in the various fields, found that aluminum windows can reasonably be expected to last 15 to 20 years and wooden windows can last upwards of 30 years. An important element of maintaining your windows is the window glazing — the putty that secures the glass to the sash. Over time, this glazing can crack, resulting in drafty and loose panes. Available at any hardware store, glazing can be replaced by simply chipping or scrapping off the old putty, cleaning the window thoroughly and installing new glazing with a putty knife or caulking gun. Some types of glazing require a coat of latex paint for weatherproofing.

Roofs

Like windows, the life expectancy of a roof depends on local weather conditions as well as appropriate maintenance and quality of the materials. Slate, copper and clay/concrete roofs can be expected to last more than 50 years. Roofs made of asphalt shingles should last for about 20 years; fiber cement shingles should last about 25 years; and wood shakes for about 30 years. In regards to roof maintenance, it’s important to be proactive to prevent emergency and expensive repairs. Look for include damaged or loose shingles; gaps in the flashing where the roofing and siding meet vents and flues; and damaged mortar around the chimney (especially at the joints, caps and washes). If you see any signs of damage, call a professional to repair it.

Paint

Although some avid decorators may repaint every six months, homes usually need to be painted every five to 10 years depending on the content of the paint (its glossiness), its exposure to moisture and traffic. Quality paints are expected to last upwards of 20 years. Exterior paint conditions should be regularly monitored in order to catch problems early on. Assessing paint for dirt, mold, cracking, peeling, fading and rusting — and repairing immediately, usually through simple cleaning methods such as scrubbing or power washing — can end up saving home owners much more costly repainting jobs in the long term.

Remember, these numbers are averages, with usage, weather, maintenance and a number of other factors influencing life expectancy. Chances are, changing trends will dictate a shorter life span, as home owners update and remodel their homes. For more information on home maintenance, visit the National Association of Home Builders online at www.nahb.org/forconsumers.