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Posts Tagged ‘houses’

Green homes in Austin Texas

In Green Living on May 6, 2009 at 4:21 pm

Green Homes in Austin Texas

Green Homes in Austin Texas

The City of Austin recently passed an ordinance relating to energy conservation audit and disclosure requirements in part for residential units. It is long winded and of course there are exceptions and allowable variances, but basically this new ordinance requires a seller to have this energy audit conducted before the sale of the residential property. I am not arguing if there should or shouldn’t be an audit or ratings, or whether they are good or bad. They are here and there will be more rules and regulations concerning energy efficiency in the future. I do agree that we, as a whole population need to improve how we utilize what energy there is available. Not being an expert on energy efficiency by any means there are some questions in my mind that need clarifying. Here are a couple of thoughts running through my head. Is it the amount of energy used or the efficiency of the energy used that is important? For example, there is a family of 4 living in a 2500 sq. ft. that home maximizes all of the energy features that are available today. No expense has been spared. They have an energy audit performed and their home is as efficient as can be at this time. They live their lives as a family of 4 would. Warm in the winter, cool in the summer.

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They are an active family, in and out of the home and not worrying about the lights, temperatures or heating and cooling. They are just living their lives on a daily basis. The cost is approximately $100.00 per month for 100 kilowatts used. Take another family of 4 living in a 2500 sq. ft. home, they can afford a few of the energy saving features that are available but the home is not as efficient as it could be so they pay closer attention to where the thermostat temperature is set. They are a little more attentive to doors opening and closing and turn off lights when not in use. Since the home is not as energy efficient as it could be they try to be more efficient. It would probably pass an energy audit but could use some improvements. Because of their efforts their cost is $100.00 for 100 kilowatts. Lastly, there is a family of 4 living in a 2500 sq. ft. home. This is an older home with very few energy saving features. The home has no central air or central heat; they utilize windows and fans for cooling in the summer and localized heating units for warmth in the colder months. They close off rooms when not in use and they turn off lights when they are not in use. They have used a few of the energy saving methods available. The home has been caulked and insulated to seal off as much air flow as possible. They are not uncomfortable and the cost to improve would not be cost effective. Because of the homes’ lack of HVAC and the families’ efforts their cost is 100.00 for 100 kilowatts. This home would never pass an energy audit. So here again is my question? If all of the homes are using the same amount of energy, does it matter if it is because of the homes energy efficiency or because of the energy saving efforts of the family living in the homes? Part of the reason we are even discussing an energy problem is because we have not been taking the time to be as energy efficient as we want our homes to be. EcoBrokers in Austin can often help people understand what to look for in an energy efficient home.

How to buy foreclosures

In Foreclosure on May 6, 2009 at 4:15 pm

How To Buy Foreclosures

How To Buy Foreclosures

Author: Elaine
How to buy a foreclosed? Where can I acquire homes in default to buy? Are there any acceptable foreclosed houses deals? Does today’s industry mean there are many secure deals? How can I purchase a real estate property cheap in down industry? Can I bargain a real estate property for a half price or a fraction of its price?

If I are looking to buy foreclosed properties as your primary residency or to invest in foreclosure properties, you will need to check a company that specializes in homes in, homes that are in default, whose homeowners have encountered a notice of default AKA NOD. Notice of default is a notice whereas the owner of the house couldn’t make one or more, usually more than one mortgage payment and is currently in default, meaning the bank is foreclosing on the house and is selling the home at the trustee’s sale. A trustee’s sale is a sale when a real estate property in foreclosed houses is sold at an auction.

The best way to check a homes in foreclosure to purchase is to go to an action. Before the foreclosed properties, or notice of default action the real estate that are being foreclosed on will be listed for those interested in buying and investing in foreclosed homes. Oftentimes a real estate that’s being foreclosed on has other debts recorded against the property, so it is advisable to check with a title company and run a preliminary title search to discover out all other liens recorded against the property. One of the most common liens found recorded against a property in foreclosed real estate is mechanics lien.

A mechanics lien is an unpaid debt ordered and shown against the owner of the home who failed to pay for home repairs. Common cases of a mechanics lien is unpaid contractor’s bills. Home improvement, roof repair, pool repair, and any other work that was done on the house and that the owner of the home has not paid for to the contractor can be a cause for a mechanics lien. Mechanics lien is usually not a huge deal. It must be foreclosed on within three months to get a judgment and to convert the mechanics lien into a judgment lien. If not foreclosed on the mechanics lien within three months (in California, other states may vary), a mechanics lien expires.

Other lies recorded against a homeowner in default may include a child support general lien, that’s usually recorded in each county the child support obligor resides and has any property in; and tax lien. When shopping around to purchase foreclosed houses, those are the things to look out for. If not taken with caution you may end up with a foreclose that seemed like a stable deal only to get out that you inherited other debts I were not aware of.

In addition to the foreclosing lender, there may also be a second mortgage, which in many cases is a junior lien and a home equity loan, which is also a lien against the property. Another thing to remember when buying a foreclosed houses is that in some cases the owner of the house will make payments to the senior lien holder but will default on the second (junior) lien. In this case often the second (junior) lien holder will foreclose on the owner of the home.

However, if you purchase a real estate property with cash amount that satisfies the foreclosing lender (the junior lien holder), you will still owe the full amount to the senior lien holder. The thing that can really screw I is that once the title is transferred, the senior lien holder is not obligated to continue taking mortgage payments from the new homeowner and it is up to his discretion whether he will agree to put I on the deed or immediately foreclose on I. This happens a lot is that a new owner unaware of the first lien holder will take possession only to find out a few days later that the senior lien holder has initiated foreclosure proceeding against the new owner.

When looking for a foreclosed properties to buy, be very careful. All homes in delault are sold as is and it is up to I do run a title report. If I pay a title company for a complete title report, the title company guarantees that the disclosed information is everything that is recorded on the title. If I later obtain out undisclosed facts, the title company that sold I the title report is liable to I for the full amount of damages. A title report may not be the cheapest but it is well worth the money and the potential headache. For more information of finding a foreclosure to buy visit Mortgage Refinance Loans