Let’s Talk Toilets!

Toilets account for almost 30% of residential indoor water use in the United States.

Toilets are also a major source of wasted water due to leaks and inefficiency. In a home that was built prior to 1993 it is most likely that the toilet uses 3.5 gallons or more for every single flush (in Dekalb County alone, approx. 165,000 homes were built prior to 1993 – there are approx. 1 Mio. Homes in the Greater Atlanta area that still have old, inefficient toilets in use). Experts say that the minimum needed to meet the basic human needs of drinking, cooking and hygiene is five gallons of clean water per person per day. It’s far from enough to ensure health and well-being-just enough to get by. Do we really need to flush down that much each time we go “Number One”?

In the beginning of modern toilets there was the seven-gallon flushing porcelain lavatory. Then there was the low-flush toilet. And by the time you’d flushed several times the bowl was “clear” and you had flushed more water than you did with the faithful lavatory.

Then there was the new and improved low-flush toilet, which was better but still not what always got the job done. And finally, the High-Efficiency toilet arrived; you now have your choice of flushing as little as .8 gallons with dual flush toilets. The best part is that they really work!

What Are High-Efficiency Toilets?

Under federal law, toilets must not exceed 1.6 gallons per flush (gpf). High-efficiency toilets (HETs) go beyond the standard and use less than 1.3 gpf. The WaterSense label will be used on HETs that are certified by independent laboratory testing to meet rigorous criteria for both performance and efficiency. Only HETs that complete the third-party certification process can earn the WaterSense label.

Do High Efficiency Toilets Work?

Everyone is concerned about the performance of low-flow toilets. Do they clear the bowl and leave it clean? Do they stop up frequently? Unlike the first 1.6 gallon / flush toilets, WaterSense HETs combine high efficiency with high performance. Advances in toilet design permit WaterSense HETs to save water without loss of flushing power. In fact, many perform better than standard toilets in consumer testing.

How Much Water and Money Do HETs Save?

High efficiency toilets save you money by reducing your water and wastewater costs. Over the course of a lifetime, an average person flushes the toilet nearly 140,000 times. If you install a WaterSense HET, you can save 4,000 gallons per year and your children can each save about a third of a million gallons during their lifetime. If a family of four replaces one 3.5 gpf toilet made between 1980 and 1994 with a WaterSense toilet, they can save $2,000 over the lifetime of the toilet. If the toilet being replaced was made before 1980, it uses 5 gallons per flush so the savings will be much greater. If you’d like to calculate how much water you can save try the water savings calculator on www.ecotransitions.com.

With these savings, new high-efficiency toilets can pay for themselves in only a few years. Even better, many local utilities offer substantial rebates for replacing old toilets with HETs. Detailed information on the rebates available in Georgia can be found here Rebates in Georgia.

What are Dual Flush toilets?

Dual flush toilets offer a patented dual flush technology consisting of a 0.8 Gal flush for liquid waste and a 1.6 Gal flush for solids. They can save up to 40% (approx. 4600 gallons) compared to today’s standard 1.6-gallon single flush toilets. On an average of 4/1 uses a day, Dual Flush toilets have the lowest water consumption of all – 0.96 Gallons per flush. Caroma, an Australian manufacturer that invented the Dual Flush technology manufactures award winning toilets that are both user friendly and, with a full 4″ trap way, virtually blockage-free! Wouldn’t that be nice to be able to finally kiss the plunger good bye? Beware of some products reducing the amount of water flushed to use with your existing toilet. Existing bowls are not designed to perform with reduced amounts of water, so the likelihood of clogging your toilet while you are trying to flush paper and solid waste increases drastically.

Select a WaterSense Labeled High-Efficiency Toilet!

Whether you are remodeling a bathroom, beginning construction of a new house, or just want to replace an old, leaky toilet, a WaterSense labeled HET is your best bet. Look for the WaterSense label on any toilet you buy. If every home in the United States replaced just one old toilet with a new HET, we would save almost one trillion (spelled with a T) gallons of water per year, equal to more than two weeks of the water flowing over Niagara Falls!

Note that some manufacturers offer high-efficiency and ordinary models with very similar names, so be sure and look for the WaterSense label. A list of WaterSense labeled High-Efficiency Toilets can be found here List of WaterSense labeled HET’s published by the EPA.

Where can I find a HET?To find WaterSense partners and resources in your area, please follow the link and click on your state below or choose from the list that follows. EPA - Where you live

 

For a watersavings calculator and more information on Dual Flush toilets please visit www.ecotransitions.com.

Home Warranties are Great for First Time Home Buyers

In December of 2007 I purchased my first house, which was also a foreclosure.  Per the advice of my Realtor, Brenda Richterkessing, I purchased a home warranty which was paid for by the seller at closing.  Since the property was a foreclosure and had some older home systems (outdoor AC unit, furnace, refridgerator, and a few others) the home warranty made a lot of sense to purchase.  In addition, I had limited funds after making this major purchase.  If I were to have an unpredicted major expense to repair or replace something I would be up a creek!  The Old Republic Home Warranty that I have on my home systems, appliances, and swimming pool have saved me from numerous financial crisises.

Home warranties help you budget for the repair and replacement of major home systems and appliances.  Most home warranties will cover Plumbng, Electrical, HVAC systems and kitchen appliances.  In addition, many hom warranty companies provide optional coverage choices that can be purchased to “custom fit” the Plan to the unique needs of your home.  This means that you could also include your swimming pool or roof in the plan as well!

There are many home warranty companies to choose from…I recommend using either Old Republic Home Warranty or American Homeshield Home Warranty.  Most home warranty company’s offer a basic/standard plan that typically ranges from $350 to $500 per year with a fee per service call between $55-$75. 

Here’s how a home warranty works:

• You pay an annual rate to cover your home’s systems and appliances (renewable each year)
• You can opt to have additional coverage to “custom fit” the plan to your home
• The plan you choose will determine the deductible that you will pay each time a service technician comes to your property
• When a home system or appliance needs to be repaired or replaced you contact the home warranty company and inform them of the problem
• The home warranty company will provide you with the contact information of a preferred vendor that will contact you to setup an appointment
• The service technician will usually be out to your house within 24-48hrs.
• If needed repair or replacement is covered by your plan, then you pay your deductible ammount and the home warranty covers the remaining balance
• If needed repair or replacement is not covered by your plan, you pay the deductible ammount and have the option of paying the technician out of pocket o resolve the problem

In an eight month period I have used my home warranty plan a total of five times and only one issue was not covered under my plan.  As a result of my plan the following reapirs have been covered:  kitchen faucet replaced, garage door opener sensors replaced, outdoor condensing unit (AC) replaced, and a new AC fan motor installed.  (To date I have saved thousands all as a result of having a home warranty)

I strongly urge anyone to purchase a home warranty and renew it every year…at the very least, look into what the cost would be for a plan that fits your needs.  A home warranty plan is great for the first time home buyer, older homes, investment homes, or rental homes.  I have avoided situations of extreme stress as a result of having a home warranty plan…you could to!

Have you saved money by having a home warranty?  Tell us about it.

Olde Taylor Farms Estate Community in Johns Creek Files Bankruptcy

The housing crisis has moved up the economic ladder with Olde Taylor Farms a luxury subdivision in Johns Creek going bust.  Harrison Design Associates, the developers of Olde Taylor Farms in Johns Creek, with homes priced from $1.6 million to more than $3 million, filed for Chapter 11 bankruptcy protection July 1.

Olde Taylor Homes is situated amongst some of the most prestigious schools and organizations in Atlanta, such as the Atlanta Athletic Club, St. Ives Golf and Country Club, Woodward Academy, and Wesleyan School.

An exclusive enclave of 33 residences, Olde Taylor Farms is a serene community with pedestrian and bike paths that cross over the Chattahoochee River.  The neighborhood backs up to open green space that can not be developed.  Community sidewalks and wooded homesites will encourage neighbors to spend time walking and enjoying their outdoor living areas.  Ancient oaks and hardwoods line the streets and give the neighborhood an established feel.

From GA-400 take Exit 10 - Old Milton Parkway.  Follow signs to GA-120 East.  Take a left onto Medlock Bridge Road/GA-141.  Turn right onto Bell Road and continue left on Bell Road.  The subdivision will be on the right.

Olde Taylor Farms Homes for Sale

 

State of Georgia Ranked #24 for House Appreciation in 2007

According to a report published by the Office of Federal Housing Enterprise Oversight, Georgia ranked number 24 for percent change in house prices from the year before.  The state increased at 2.55% in 2007 than in 2006.  The top three states (in order) were; Utah (9.27), Wyoming (8.27), and North Dakota (7.87).  The bottom three were; Florida (-4.69), Nevada (-5.86), and California (-6.65).

Ranked metropolitan statistical areas and divisions which is calculated using estimates of all transactions house price index which includes purchase and refinance mortgages found that the communities of Atlanta-Sandy Springs-Marietta ranked 151 nationally.

Below is a chart depicting the fourth quarter price change by state for the entire United States.

The graph above shows (click to enlarge) that the state of Georgia had an increase of 2.6% in the forth quarter.  Though these are tough times felt across our nation the market in Georgia isn’t as bad as one may think.  Georgia can contribute its continued appreciation to the many new jobs and population growth that the state has experienced.

Search Georgia homes for sale.

 

The Beginning of the End of Super-Low Mortgage Rates?

There are several factors that indicate that home buying will be increasing which in turn will help fuel a recovery of the housing market.

The National Apartment Association recently conducted an online poll in which results showed 17 percent of renters plan to purchase their first home within the next year; 41 percent of the 2,041 respondents planned to be home owners within two years.  Only 31 percent planned to still be paying rent five years from now.

The past six months have seen a drastic drop in mortgage rates, however fixed-rate mortgage rates rose to 6.32 percent, the highest it has been since October.  Following the months of aggressively dropping interest rates, many feel that the Fed will be forced to raise rates back up.  If interest rates rise, so to will mortgage rates.

According to a press release by Freddie Mac, Frank Nothaft, Freddie Mac vice presient and chief economist said that, “Mortgage rates jumped this week after a number of Federal Reserve officials, most notably Chairman Bernanke and Vice Chair Kohn, expressed concern over a threat of inflation.” We may very well be seeing the beginning of the end of the super-low mortgage and potential buyers may realize that with rising rates, now may be the time to jump in. Nothaft added, “Moreover, pending home sales for April unexpectedly rose by 6.3% and mortgage applications for home purchases … were also up last week.”

Will House Prices Continue to Drop? Is it Safer to Rent and Buy Next Spring?

If you are like most of my clients, then you are probably asking these same questions. I thought it might make sense to share the dialogue between a client of mine that might help answer these questions. Dialogue below.

Client: Do you think the house prices will continue to drop? Should we consider renting, and buy next spring?

Brenda: I have been in real estate in Atlanta for 5 years and during the past 5 years have seen our average appreciation to be between 4% - 6% depending on the area. Right after the bank issues that occurred in the banking industry (July/August), we began to see a leveling off. During the 4th quarter of 2007 we began to see a decline, although still not significant compared to other US markets. In the first quarter of 2008 we saw prices, on average to be 6.6% below the same quarter of 2007. We are seeing a climb back upward, but it is hard to know if that is just because of the time of year or if we will continue to see the market recover. Some are already beginning to say the recovery has started, others say it has not. I will not have Q2 numbers until mid July to know the trends for sure, but even if I do, it can only give me a snapshot of the rear view mirror vs. a prediction of the future.

I can tell you that our team is swamped! It has really exploded for us in the last two to three weeks. This time of year is always busy, but we are really seeing alot of activity. Our Keller Williams office, of about 250 agents, has also just had two of its strongest months if that is any indication. Regarding waiting until next spring, I would have a hard time advising you to do that based on what I am seeing. I think now is the absolute best it has been in our market to buy in some time. It is always possible it will go lower, but I also think it may just level off and then recover as well. But if I could predict it for certain, I would be a very rich person!

I have been working with clients all week that are also relocating and want to live in Forsyth County. They thought they would have a lot of flexiblity to negotiate price, especially on new construction. However, just today they said to me that it is harder than they thought it would be to get sellers to negotiate their prices down. But, from my perspective, it is still the most flexibility I have seen over the past 5 years to negotiate prices. Depending on where you choose to live may also impact your negotiation. There seems to be more flexibility on price out in Forsyth County then there is in Dunwoody/Sandy Springs.

Below is a chart that might give you a little better visual on what we have seen in our market since 2000. As you can see we are currently on par with the same trend line we saw in 2004. Prices are currently holding at levels between 2004 and 2005:

Let me know if you have any other questions.

Client: I am working hard to be educated. Another family from here is relocating to the area and they feel that the housing prices will drop more and they plan on renting. I was trying to locate more factual information so I can make an educated decision. I appreciate all of your help.

Brenda: You are smart to try and gather factual information. I think it is very hard to do right now as the media has really run a bit wild with all of this. You can literally find two articles in the paper some days that say two totally different things about the market. The media also tends to paint the housing market with a very broad brush. The national statistics often do not apply at the local level.

I am pasting an article below that I think was one of the most factual and balanced articles that I had seen in a long time. It was in CNN Money and outlined the Top Ten Cities that would likely recover the quickest from the housing market challenges and why. Atlanta was ranked as #4.

I am not sure what your relocating friends are basing their information on, I can only tell you what I see happening and I work in this every single day and have for the past 5 years. I cannot say with absolute certaintly that we have hit the bottom, but I can say with certaintly that this is a great time to buy. Waiting may gain you a few more bucks, but I really do not see it being anything dramatic in the Atlanta market. And, in fact, I think waiting is more of a risk. If you wait for prices to go lower, but interest rates or inflation rise, then you waited for nothing. Instead, you have just spent more money on rent and storage costs…something you cannot recuperate.

Those who seem to know what they are talking about when it comes to our specific local market will consistently say that Atlanta did not see the extremely high appreciation rates that other cities experienced and as a result, Atlanta will also not see the lows. As a result, if we drop any further in our average prices, it would likely still be in the lower single digits. Even if we were to drop another 3%, on a $500K home, that is $15K. My sense is you could likely negotiate that 3%, and probably more, off the current price of the home now and not incur the additional rental and storage costs…not to mention the hassles of renting. It is pretty difficult to time the stock market and the housing market is the same.

The other thing that you see in many of the articles is they compare how much the prices have dropped from the same month/quarter of 2007 to 2008. I think 2007 prices are long gone and it doesn’t make sense to continue to compare to them. What does make sense is to look at if the 2008 numbers are following the natural trend lines that we see in Real Estate month to month as you can see visually in the graph below.

Inventories are also at their highest right now so you have the best selection to choose from. As we get past the summer months, selections will be a bit more limited. I have an entire book of about 30 charts that I get updated every quarter regarding how the market is doing. I’d be happy to review them with you guys when you are in Atlanta next….the file is too big and complicated to just send via email. If you find any other information that you would like me to take a look at, I am happy to do so.

Client: Thank you so much for the article. My sense is that with the continued growth that Atlanta experiences the housing market cannot bottom out like other areas. We tend to do the research and want to buy in an area that tends to have good resale. I try to take the media with a grain of salt.

In Real Estate, What Does LTV Stand For?

LTV stands for Loan To Value, and it reflects the percentage of a sales price that is borrowed by a borrower. For example, if a program allows for an LTV of 95%, and the sales price is $100,000… the borrower may borrow up to $95,000. FHA is a great program for those with limited funds, because it allows for a LTV of 97%.

On a standard 30 year fixed amortized jumbo loan (over $417,000), a borrower can borrow the following:

- loan amount from $417,001 to $650,000 has an LTV of 90% with a credit score of 660

- loan amount from $650,001 to $1.5MM has an LTV of 80% with a credit score of 680

- loan amount from $1,500,000 to $2MM has an LTV of 80% with a credit score of 700

- loan amount from $2,000,001 to $3MM has an LTV of 70% with a credit score of 720

Let’s look at an example:

You like a house with a sales price of $900,000, and you want to put 10% down. This would leave you with a loan amount of $810,000 and an LTV of 90%. As you can see from the above, a loan amount between $650,001 and $1M requires an LTV of 80%. You will need to find another 10% to put down for a loan amount of $720,000, or find another house.

Another example:

You  like a house with a sales price of $750,000 and want to put 10% down. This would leave you with a loan amount of $675,000 and an LTV of 90%. This also won’t fit in the bulleted points above, however, you are very close to the $650,000-and-below tier. Instead of forcing you to come up with another 10% for a 20% down payment, you will only be required to come up with an additional $25,000 to get to the $650,000 tier, which only requires a minimum down payment of 10%.

Stop Flushing Money Down the Toilet

Do something good for yourself.  With the economy slowing and gas prices increasing it is time to look at your current situation and identify ways that you can save money by cutting your current expenses.  One way to do this is by switching out your old toilets with new water conserving toilets.

Following Dekalb County’s Plumbing Retrofit Law, the City of Roswell in partnership with the Metropolitan North Georgia Water Planning District, is now participating in the Toilet Rebate Program.  The program allows Roswell residential water consumers the opportunity to apply for a rebate on the purchase of new water-saving toilets to replace older inefficient toilets.

Roswell residential water consumers are eligible to receive a toilet rebate if the following is met:

1. Have an individual residential account with a participating water utility in the District and be up to date on your billing payments.
2. Own or rent a single-family residential home built in 1993 or earlier (this will be verified).
3. Purchase an approved toilet after September 28, 2007 to replace an older toilet using greater than 1.6 gallons per flush (gpf)
4. Agree to an installation verification visit to ensure your efficient toilets have been installed.
5. Agree to complete a program participation survey.

Who is NOT eligible:

1. Customers who have already received a rebate from a District water utility.
2. Customers of utilities who are not participating in the program.
3. Customers who own or rent a single-family home built after 1993.
4. Customers who purchased a toilet before September 28, 2007.
5. Customers who currently have a 1.6 gallons per flush (gpf) or less toilet.
6. Customers living in a multi-family residence or non-residential customers.

There are two rebate options, and a limit of two toilet rebates per household.  Toilets that fit into option 1 are eligible for a $50.00 rebate and toilets listed in option 2 qualify for a $100.00 rebate.

For more information view the Residential Toilet Rebate Program’s website.

What do you think? Is this a program you would take advantage of in Roswell?

Glazer Design & Construction

Whether you are thinking about making changes to your home or business, or building something new, Glazer Design & Construction offers a wide-variety of construction services, designed to meet your every need.

Glazer Design & Construction has been serving the design, remodeling and construction needs of Metro Atlanta since 1995. We are proud to provide our clients with premium quality work at affordable prices, without sacrificing the integrity of the design or the materials that go into it.

Humans Aren’t the Only Victims of Foreclosure

The month of May saw more than 7,000 courthouse auctions. Homeowners, builders, developers and commercial property owners have stopped making payments and as a result lenders are repossessing them. This creates great opportunity for investors and landlords alike. However, there isn’t opportunity for all. The victims of foreclosures are not just humans, many family pets are being left behind.

The high rate of home foreclosures throughout the Atlanta area is having an impact on local animal shelters as they are seeing a disturbing trend develop. These people losing their homes are moving in with relatives or rental places and they aren’t always able to bring their pets with them. Many pet owners faced with foreclosure call local animal shelters, however not all pets are this lucky.

Meet Lexus. Lexus is an Australian Shepherd dog that was left behind when her owners were foreclosed upon. She is presently being fostered by a Keller Williams agent in our office, however it will not work as a permanent home. Lexus gets along great with kids and other dogs, but unfortunately not with cats. She is a great dog that is very well trained and behaved and is in need of a new home.

If you or someone you know would like to make Lexus a member of your family, contact us. info@soldonroswell.com or by phone: 770.300.0023

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