Certified Green Building/Renovation Q&A

Rent v Buy? What Should I do?

2012-02-06T16:50:00.000-05:00

In having both rental and sales divisions within T. C. Lewis & Co, we are posed the question all the time about whether someone should rent or buy. What are the pros and cons? What should I do? Why? When will this change? Well the answers aren't simple, but one thing is for sure, paying rent is getting more painful for renters across the country in the face of rising demand and tight supply. This isn't as prevalent in the Appalachian region yet, but it will hapen.

Both the commercial and residential real estate markets are seeing increases, and more are expected in the months and years to come.

Office construction starts were at the lowest level since 1960, the oldest data available from McGraw-Hill Construction; and that means there will be less space available for companies looking to rent or expand their operations.

It’s also bad timing for people who have been spooked by, or pushed out of, the residential housing market and have decided to rent instead of buy. Home ownership in the United States is at historic lows, but at the same time rental prices are on the rise. Rent for a primary residence increased 2.5 percent in December, compared to the same month a year earlier, according to the Consumer Price Index. And Reis Inc.’s research shows that rents hit their highest level since 2007 last year, reaching $1,009 a month average rental price. At the same time, the company found, the vacancy rate dropped to 5.2 percent, from 6.6 percent last year.

“National vacancies continued to tighten sharply in the fourth quarter, bucking seasonal weakness typical of the colder months of the year,” said Victor Calanog, vice president of research & economic for Reis, in a report on the apartment sector. “In just two years after hitting all-time highs of 8 percent at the end of the tumultuous year that was 2009, vacancies have not just recovered, they have surpassed previous lows.”

Ironically, rising rents are actually making homeownership more attractive. One study by Trulia.com, a real estate research firm, found that “based on current market conditions, buying a home is cheaper than renting in 74 percent of major U.S. cities.”On the office rental side, this economic downturn has different from past ones, Calanog wrote, “Previous downturns for the office sector were complicated by overbuilding; this time around, the massive decline in aggregate demand at least isn’t weighed down by a supply glut.”

Unfortunately, that means the squeeze is on for renters from all walks of life as vacancy rates drop in the face of further shrinking of supply. Fewer places to rent means landlords have the upper hand when it comes to what they can ask. And that will probably be the case for the next few years, said Mark Stapp, professor of real estate practice at the W.P. Carey School of Business at Arizona State University.

On the residential side, there will be a push toward higher rents for the next two years, he explained, while commercial real estate rental prices may continue to increase for the next three to five years.

“The supply side is so constrained because no body has been building for years,” he said, because of the economy and the difficulties businesses and developers faced getting loans.

While lending is beginning to open up a bit now, it will take years before real estate firms are able to build enough space to meet the growing demand.

It’s good news for landlords, he added, who were forced to make concessions in recent years because of weakened demand, but it will be tough sledding for apartment and office dwellers who have to pay the escalating rents.

Is your rent bill going up?

Source: Eve Tahmincioglu

Burying St. Joseph to Sell Your Property?

2012-01-04T16:08:00.000-05:00

Cari Luna is Jewish by heritage and Buddhist by religion. She meditates regularly. Yet when she and her husband put their Brooklyn, N.Y., house on the market this year and offers kept falling through, Ms. Luna turned to an unlikely source for help: St. Joseph.

The Catholic saint has long been believed to help with home-related matters. And according to lore now spreading on the Internet and among desperate home-sellers, burying St. Joseph in the yard of a home for sale promises a prompt bid. After Ms. Luna and her husband held five open houses, even baking cookies for one of them, she ordered a St. Joseph "real estate kit" online and buried the three-inch white statue in her yard.

"I wasn't sure if it would be disrespectful for me, a Jewish Buddhist, to co-opt this saint for my real-estate purposes," says Ms. Luna, a writer. She figured, "Well, could it hurt?"

With the worst housing market in recent years, St. Joseph is enjoying a flurry of attention. Some vendors of religious supplies say St. Joseph statues are flying off the shelves as an increasing number of skeptics and non-Catholics look for some saintly intervention to help them sell their houses.

Some Realtors, too, swear by the practice. Ardell DellaLoggia, a Seattle-area Realtor, buried a statue beneath the "For Sale" sign on a property that she thought was overpriced. She didn't tell the owner until after it had sold. "He was an atheist," she explains. "But he thanked me."

Some Catholic clergy are uncomfortable with the St. Joseph's trend. Statues of St. Joseph sold online can be as tall as 12 inches. One, made of colored resin, portrays St. Joseph cradling the baby Jesus. Yet most home sellers favor the simpler three or four inch replicas - most of which are made in China and often depict St. Joseph as a carpenter.

Most statues come in a "Home Sale Kit" that is priced at around $5 and includes burial instructions and a prayer. One site, Good Fortune Online, recently added another kit with a statue of St. Jude - known as the patron saint of hopeless causes - "to help those with a difficult property to sell," the site says. Another site, Stjosephstatue.com, takes orders for its "Underground Real Estate Agent Kits" at 1-888-BURY-JOE.

Demand for the statues has been growing. Ron Weissman, who sells the statues at Good Fortune Online, says about six months ago he switched to online transactions because the increase in calls - from about two a week to 25 calls a day - was too much to handle. Richard Weigang, owner of www.catholicstore.com, says he sells about 400 statues a month, double the amount he sold a year ago.

In Catholicism, St. Joseph, a carpenter, is honored as the husband of Mary and foster father of Jesus. Representing a humble family man, he is the patron saint of home, family and house-hunting, according to the Rev. James Martin, a Jesuit priest and author of "My Life With the Saints." Popular belief holds that people who wish to enlist St. Joseph's help in selling a house should bury his replica upside-down in the yard. (Apartment dwellers are advised to put him in a potted plant.)

But, methods of burying the statue vary. Instructions in one package give buyers several options, including burying it upside-down next to the "For Sale" sign, burying it three feet from the rear of the house and burying it next to the front door facing away from the home. Phil Cates, owner of stjosephstatue.com, says: "I've seen it buried in all types of places with all types of ceremonies." He says the detailed burial instructions are largely intended to prevent people from forgetting where they put their St. Joseph. (His kits advise burying it facing it away from the house, to symbolize leaving.)

Theologians say there's no official doctrine that calls for the statue's interment. The practice may have stemmed from medieval rites of land possession, in which conquerors claimed land by planting a cross or banner, says Jaime Lara, associate professor of Christian Art and Architecture at Yale Divinity School. Mr. Lara also suggests that the tradition may have gotten mixed up at some point with folklore surrounding St. Anthony. St. Anthony, known as a matchmaker, would often be held ransom, upside-down, until he found a husband for someone's daughter, he says.

Some clergy aren't sure how St. Joseph would feel about his replica ending up on its head in the dirt, and suggest displaying it somewhere in the house instead.

"I think it's much more respectful than burying the poor guy," says Msgr. Andrew Connell, the archdiocesan director of the Pontifical Society for the Propagation of the Faith in Boston. Some retailers, such as Mr. Weigang, owner of www.catholicstore.com, also encourage buyers to put the statues in the house.

"We don't advocate burying," he says. "Some of those statues are quite beautiful."

Catholic leaders also say that faith and devotion are necessary, in addition to burying a statue, otherwise the practice amounts to little more than superstition or magic. But they are also enjoying the saint's newfound popularity. "If they have a good result and they think it was St. Joseph, it might inspire them to practice more," says Msgr. Connell.
The St. Joseph "Underground Real Estate Agent Kit" from www.stjosephstatue.com. Once someone's home sells, the custom holds, the statue should be dug up and put in a place of honor in the new home. That's what Ms. Luna did after she and her husband sold their house shortly after burying St. Joseph. She put the statue in her office in their new home in Portland, Ore. But not everyone is aware of the follow-up step. Trudy Lopez and her husband buried a statue of St. Joseph when they were trying to sell their condo, even though Ms. Lopez is Jewish and her husband is a nonpracticing Catholic. They sneaked out late at night, worried they might be breaking a condo association rule. "And I'm thinking, 'If my family knew what I am doing, they'd die,' " she says. Soon they got an offer, but didn't realize they were supposed to bring the statue with them to their new home.

"I'm afraid a lot of the statues won't be unearthed and someone will go over St. Joseph's feet with a lawnmower," says Father Martin.

*Sara Munoz contributed to this entry

'Green' Thoughts for Holidays and Winter

2011-12-01T11:50:00.000-05:00

I'm getting on the soap box for a few lines this month to discuss some 'green' thoughts for the holidays and winter. And, I think that all of these types of things start at home. Many of these items also start and end in your wallet, so that's important to keep in mind. That being said, here are some tips entering winter:

1) Furnace Inspection
•Call an HVAC professional to inspect your furnace and clean ducts.
•Stock up on furnace filters and change them monthly.
•Consider switching out your thermostat for a programmable thermostat (but know how to use it)
•If your home is heated by a hot-water radiator, bleed the valves by opening them slightly and when water appears, close them.
•Remove all flammable material from the area surrounding your furnace.

2) Get the Fireplace Ready
•Cap or screen the top of the chimney to keep out rodents and birds.
•If the chimney hasn't been cleaned for a while, call a chimney sweep to remove soot and creosote.
•Buy firewood or chop wood. Store it in a dry place away from the exterior of your home.
•Inspect the fireplace damper for proper opening and closing.
•Check the mortar between bricks and tuckpoint, if necessary.

3) Check the Exterior, Doors and Windows
•Inspect exterior for crevice cracks and exposed entry points around pipes; seal them.
•Use weatherstripping around doors to prevent cold air from entering the home and caulk windows.
•Replace cracked glass in windows and, if you end up replacing the entire window, prime and paint exposed wood.
•If your home has a basement, consider protecting its window wells by covering them with plastic shields.
•Switch out summer screens with glass replacements from storage.

4) Inspect Roof, Gutters & Downspouts
•Adding extra insulation to the attic will prevent warm air from creeping to your roof and causing ice dams.
•Check flashing to ensure water cannot enter the home.
•Replace worn roof shingles or tiles.
•Clean out the gutters and use a hose to spray water down the downspouts to clear away debris.
•Consider installing leaf guards on the gutters or extensions on the downspouts to direct water away from the home.

5) Service Weather-Specific Equipment
•Drain gas from lawnmowers.
•Service or tune-up snow blowers.
•Replace worn rakes and snow shovels.
•Clean, dry and store summer gardening equipment.
•Sharpen ice choppers and buy bags of ice-melt / sand.

6) Check Foundations
•Rake away all debris and edible vegetation from the foundation.
•Seal up entry points to keep small animals from crawling under the house.
•Tuckpoint or seal foundation cracks. Mice can slip through space as thin as a dime.
•Inspect sill plates for dry rot or pest infestation.
•Secure crawlspace entrances.

7) Install Smoke and Carbon Monoxide Detectors
•Some cities require a smoke detector in every room.
•Buy extra smoke detector batteries and change them out annually.
•Install a carbon monoxide detector near your furnace and / or water heater.
•Test smoke and carbon monoxide detectors to make sure they work.
•Buy a fire extinguisher or replace an extinguisher older than 10 years.

8) Prevent Plumbing Freezes
•Locate your water main in the event you need to shut it off in an emergency.
•Drain all garden hoses.
•Insulate exposed plumbing pipes.
•Drain air conditioner pipes and, if your AC has a water shut-off valve, turn it off.
•If you go on vacation, leave the heat on, set to at least 55 degrees.

9) Prepare Landscaping & Outdoor Surfaces
•Trim trees if branches hang too close to the house or electrical wires.
•Ask a gardener when your trees should be pruned to prevent winter injury.
•Plant spring flower bulbs and lift bulbs that cannot winter over such as dahlias in areas where the ground freezes.
•Seal driveways, brick patios and wood decks.
•Don't automatically remove dead vegetation from gardens as some provide attractive scenery in an otherwise dreary, snow-drenched yard.
•Move sensitive potted plants indoors or to a sheltered area.

10) Prepare an Emergency Kit
•Buy indoor candles and matches / lighter for use during a power shortage.
•Find the phone numbers for your utility companies and tape them near your phone or inside the phone book.
•Buy a battery back-up to protect your computer and sensitive electronic equipment.
•Store extra bottled water and non-perishable food supplies (including pet food, if you have a pet), blankets and a first-aid kit in a dry and easy-to-access location.
•Prepare an evacuation plan in the event of an emergency.

Don't forget about your duct work! It can make a huge difference to inspect your duct work and tape up any areas that aren't properly sealed or are losing some warm air. It can mean big bucks back in your wallet for the holidays.

And, moving into the holiday season, here are some tips to reduce your waste and carbon footprint while boosting the American economy:

1) Buyer American made! If every American spends $64 on an American made product this holiday season, 200,000 jobs can be created - wow!

2) Thousands of paper and plastic shopping bags end up in landfills every year. Tell store clerks you don't need a bag for small or oversized purchases.

3) Wrap gifts in recycled or reused wrapping paper or funny papers. Also remember to save or recycle used wrapping paper. Give gifts that don't require much packaging, such as concert tickets or gift certificates.

4) Turn off or unplug holiday lights during the day. Doing so will not only save energy, but will also help your lights last longer.

5) Approximately 33 million live Christmas trees are sold in North America every year. After the holidays, look for ways to recycle your tree instead of sending it to a landfill. Check with your community solid waste department and find out if they collect and mulch trees. Check with TVA about using them as fish nesting habitats.

6) When buying gifts, check product labels to determine an item's recyclability and whether it is made from recycled materials. Buying recycled encourages manufacturers to make more recycled-content products available.

Happy Holidays!

Agree or Disagree with the Protests - If You're Reading This, You're in the 99%

2011-10-31T22:13:00.000-04:00

I thought that this month I would simply share a few links that I found interesting. I would like to preface them by saying that whether you agree or disagree with the protests, if you're reading this, you're part of the 99% that these people are talking about. And, if you're part of the 1%, we need to get together and discuss real estate investment opportunities. A statistic was just released from the CBO that the wealth of the top 1% of the US population (that make $344,000/year or more on tax returns) has grown by 275% since 1979, while the bottom 20%'s (individuals who made $25,000/year or less) wealth grew by just under 18%. This is a very hot button issue and people have very strong opinions on the topic, and there are always "deadbeats," "troublemakers," "and "losers" that take part in any kind of protest or cause that tend to yell louder and spoil it for others (i.e. Tea Parties), so I thought that I would just share these links to also expose the idea that these "Occupy" movements are going on all over the world. I'm not taking sides or trying to convince anyone of what to think or not to think, but the distribution of wealth is the basis for a strong democracy, and that is just a fact agreed upon by any economist on any political side. And, currently the US ranks just above Uganda, Cambodia, Iran, and Cameroon. So, take a look, it's pretty interesting...

Graph and article about the CBO growth of wealth study:
http://abcnews.go.com/Business/income-doubles-top-percent-1979/story?id=14817561

"Occupy" opinions from around the globe:
http://www.guardian.co.uk/world/blog/2011/oct/21/occupy-wall-street-whyoccupy-conversation

Map of the "Occupy Protests":
http://www.guardian.co.uk/news/datablog/interactive/2011/oct/18/occupy-protests-map-world

Country's of the world distribution of wealth comparison:
https://www.cia.gov/library/publications/the-world-factbook/rankorder/2172rank.html

Feel free to share your thoughts, but please, play nice!

Fewer Sick Days, Higher Rents in Green Buildings

2011-09-30T11:55:00.000-04:00

Environmentally-friendly construction practices have gotten a lot of hype over the past few years but do they really pay off as an investment? A new study found that tenants in green buildings experience increased productivity and fewer sick days. The research also found that that green buildings have lower vacancy rates and higher rents than non-green counterparts.

The study, conducted by the University of San Diego and commercial real estate broker CB Richard Ellis Group, found that tenants in green buildings such as the Behnisch Architekten-designed Unilever offices in Hamburg above are more productive based on two measures: the average number of tenant sick days and a productivity change. Respondents reported an average of 2.88 fewer sick days in their current green office versus their previous non-green office. About 55% of respondents indicated that employee productivity had improved.

Based on the average tenant salary, an office space of 250 square feet per worker and 250 workdays a year, the decrease in sick days translated into a net impact of nearly $5.00 per square foot per year. The increase in productivity translated into a net impact of about $20 per square foot. The study also showed that green buildings have 3.5% lower vacancy rates and 13% higher rental rates than the market.

The work was based on surveys of 154 buildings under CBRE's management, totaling more than 51.6 million square feet and housing 3,000 tenants in ten markets across the U.S. The study defined a green building as those with LEED certification at any level or those that bear the EPA ENERGY STAR ® label.

Another report out in the past week concluded that constructing new green buildings or retrofitting existing structures with energy efficient air conditioning, solar panels and the like will support 7.9 million U.S. jobs and pump $554 billion into the American economy over the next four years. The study, by the U.S. Green Building Council and Booz Allen Hamilton, determined that green construction spending currently supports more than 2 million American jobs and generates more than $100 billion in gross domestic product and wages.

The economic impact of the total green construction market from 2000 to 2008, the study found, was $178 billion. It created or saved 2.4 million jobs and generated $123 billion in wages.
The U.S. Green Building Council certifies LEED buildings and obviously has an interest in the movement, but Rick Fedrizzi, chief exec of the group said something remarkably down to earth in releasing the report: “Our goal is for the phrase ‘green building’ to become obsolete, by making all building and retrofits green – and transforming every job in our industry into a green job.”

Can't argue with that. And, there is not near enough of this going on in the Appalachian region, and we have one the most naturally beautiful areas in the world to protect. Call T. C. Lewis & Co. for any questions about green building or retro-fitting.

*Some info was taken from Business Week (September 2011)

How to Make $5000 Stretch in a Kitchen Remodel

2011-08-26T12:06:00.000-04:00

For September, I wanted to focus on an issue that it seems like a lot of folks are dealing with... "My kitchen needs to be remodeled, but we just don't have that kind of money." If you've said that, you're not alone...

A "minor" kitchen remodel will cost homeowners, on average, $21,695, according to the Cost vs. Value survey, an annual report by Remodeling magazine, in cooperation with REALTOR® Magazine, that reveals the top remodeling projects offering the highest returns at resale. Home owners stand to recoup about 72 percent (or $15,790) of that investment from a kitchen remodel when it’s time to sell too.

So the kitchen can offer some big payback at times of resale, but for the average home owner, $21,000 nowadays may be too much for their budget. So what should you do when a dated kitchen is still in desperate need of some TLC?

Check out this video below from AOL Real Estate with Jeff Lewis, star of Bravo’s “Flipping Out,” sharing how he transformed a kitchen for less than $5,000. He painted the cabinets, added new countertops, replaced the faucet, added a stainless steel kitchen island, and accessorized to give the kitchen an updated, fresh look.

And, don't hesitate to contact us for a free consultation about remodeling your kitchen!

Follow this link for the video: http://styledstagedsold.blogs.realtor.org/2011/08/08/how-to-make-5000-stretch-in-a-kitchen-remodel/

Bill Asks Banks to Rent Foreclosures to Save Home Values

2011-08-01T13:07:00.000-04:00

As a glut of foreclosures on the market weighs down home values across the country, a bipartisan bill introduced this week in the House proposes a solution to reducing the high inventories: Rent the properties out.

The proposed bill, Neighborhood Preservation Act of 2011 (H.R. 2636), calls on banks and the government-sponsored enterprises--Fannie Mae and Freddie Mac--to start renting out some of their foreclosed properties to reduce REO sales and “stabilize home values and restore confidence in the housing markets.”

The bill would authorize federally-chartered institutions to enter into a long-term lease -- for up to five years -- with the occupant of the property or with another person, and then at the end of the agreement provide an option to buy the home to the tenant.

The bill could allow delinquent borrowers to remain in their homes but they would have to agree to pay rent and still sign over the deed to the bank or GSE, National Mortgage News reports.

According to the bill, this would allow the foreclosed property to remain occupied during the still-sluggish housing market and “preserve the property itself as well as the aesthetic and economic values of neighboring homes and even whole neighborhoods.”

"As Americans across the country are affected by this unrelenting foreclosure crisis, it is imperative that Congress address this issue," Congressman Gary Miller, R-Calif., who introduced the bill, said in a statement.

Real Estate Opportunities in the World's Most Romantic City

2011-06-28T14:45:00.000-04:00

I was inspired this month to write once again about real estate investing internationally. Mainly because I have a good friend traveling through Spain as I write this, and I'm a little jealous - okay, a lot jealous. Anyway, as I've said in my previous postings, there are solid opportunities around the world, and it doesn't necessarily take an adventurous risk-taker to pursue making money investing in real estate internationally. This entry takes us to the most romantic city in the world - I've traveled there before, and it's pretty amazing...

Venice in Italy is one of the world’s most enchanting cities thanks to the almost fairytale allure of landmarks such as St Mark’s Basilica and Square, the Palazzo Ducale, the Grand Canal and the Bridge of Sighs.

This is understandably one of the most desirable places in which to own a property in Italy. Yet with prices of apartments in St Mark’s Square, for instance, routinely changing hands for US$9.75million, many investors have shied away from buying real estate in Venice. As have many locals, in truth, and since the 1950s the city’s population has shrunk by two-thirds to its present 60,000.

Yet there are highly affordable and profitable investment opportunities to be snapped up there - if you look in the right parts of the city. One such area is Dorsoduro, one of Venice’s six sestieri (districts) and a short vaporetto boat ride from St Mark’s Square. Here, just US$360,000 can buy a small, well-appointed apartment. Dorsoduro lacks nothing in upmarket chic as it is home to the Accademia art gallery, the Peggy Guggenheim Museum and a recently opened Punta della Dogana Museum, a major collection of contemporary art on the site of an old 17th century customs house.

Yet it is also a lively, vibrant area – the Ca’ Foscari University is here – and after dark Dorsoduro’s bars and cafés form the centre of Venice’s nightlife. To get more bang for your investment buck, head for the even more affordable Castello, Venice’s largest district, which lies just to the east of St Mark’s Square but is slightly off the well-trodden tourist trail. Here, expect to pay around US$415,000 for a two-bedroom apartment of around 75-80sq meters - yes it's meters in Italy.
The rental yield of property in Venice remains huge. Some 20 million visitors a year beat a path to the city, for its historic architectural splendour as well as popular events such as the carnival in February/March; the Biennale arts festival in summer and autumn; and the Venice Film Festival in August/September. It means there is demand for rental properties almost all year round. In high season, a one-bedroom apartment can fetch from US$1,700 a week, a two-bedroom property around US$2,600 and the most prestigious properties US$8,000-plus.

Alternatively, look farther afield to the outlying isles among the 118 that make up the Venetian archipelago. In Burano, six miles outside the city centre, US$625,000 can secure a house rather than just an apartment. The nearby islands of Tellestrina Chioggia and Torcello are also worth a look. Bear in mind that rental yield will fall the further away from the centre of Venice in which you are.

Another popular option is to look beyond Venice and to the historic towns and cities within the Veneto region, some 45 minutes away by train, but it's worth the visit, and the train ride is amazing. They include Verona, one of Veneto’s principal tourist and cultural destinations; Vicenza, a Unesco World Heritage Site; Padova, a lively, attractive and historic university city; and Treviso, renowned for its wine and cuisine. In Treviso and Vicenza, expect to pay around US$350,000 for a two-bedroom town centre apartment.

Padova is possibly the priciest of these towns and an 80sq m two-bedroom apartment will frequently come with a price tag of around US$550,000. Obviously the price falls considerably if you are prepared to take on a restoration project. Explore the surrounding countryside, where in places such as the spa resort of Abano Terme US$350,000 can stretch to a spacious three-bedroom home.

Broaden your horizons and check out the world. We can help with an investment if you're interested. There are deals to be had everywhere - even in the world's most romantic city.

There are Realtors and then there are Realtors...

2011-05-31T16:17:00.000-04:00

I'll start by saying that this is not meant to put anyone down, accuse anyone of intentionally not doing his or her job, or knock on those who didn't have higher education opportunities. But, there are Realtors and then there are Realtors.

If you have been in the market for any type of property, you have probably realized that everybody has a real estate license. Everybody. It seems like everytime I walk in the Ingle's grocery in my neighborhood, I see at least one Realtor. Frankly, it's too easy to get and maintain a license. And some people don't bother and are still out managing rental properties (illegal in TN) and are now self-proclaimed "Real Estate Investment Coaches." I've always been a proponent of more stringent licensing and renewal regulations - even going as far as to suggest a minimum two year degree (Associate's) to work in the business. Realtors have a big impact on local economies through pricing of properties, advice to consumers, which properties are shown, which are ignored, business expansion locations, business relocations, lobbying efforts locally, regionally, and nationally - a lot of things that the general public doesn't realize. And, most have an even bigger impact on assisting the average consumer with what will surely be the largest purchase in his/her life. Note, the National Association of Realtors is the largest (and one of the most well-funded) trade organizations in the United States.

The good thing about all that I mentioned above is that there is a lot of good that Realtors can do. A good Realtor can help a client look at all angles of a situation. A good Realtor can then assist the client in understanding all viable options to provide the client with the best possible information for a sound decision - even if it's not exactly what you wanted to hear. Whether it's in commercial or residential real estate, a good Realtor will help the client make the best investment. Even in the residential setting, when the average consumer is only staying in a home for an average of 5 years, it's an investment, whether the consumer realizes it or not.

The problem with the influential-nature of being a Realtor is that there aren't a lot of actual experts in the marketplace. So, some of the largest corporations that may be looking to expand or relocate into the area, the investors looking to invest in our properties, and homebuyers looking for sound advice may be talking to someone who has no clue, no education, or a biased opinion. Example - I've heard from a number of businesses that (in the past) they have been totally swayed away from the possibility of relocating into the downtown area of Johnson City. And, it's usually based on this: "Downtown hasn't been anything in years, so I'd look for a nice place toward north Johnson City." That statement isn't founded in any data or research, and is simply a biased opinion from a Realtor.

On the clueless side, there are a lot of Realtors who use real estate as a side job. They count on friends and family to buy or sell a house or two every year, and they may or may not be up to date on education, paperwork, price trends, value changes, etc. Most of those folks look at real estate like freelance sales - and that is a problem. Realtors are a tool to match the consumer with the right product, and not intended to sell you on anything. And this stuff happens VERY easily. As I said, Realtors are everywhere - they're church-goers, non-profit members, neighbors, parents to friends of children, co-workers, etc. So, it's a good possibility that you're going to run into one. And, when you're in the market for a property, real estate is going to come up. Then you're hooked by someone just based on your casual conversations who may or may not know what he or she is actually doing.

Some entire real estate companies are setup to encourage their Realtors to recruit more Realtors in a legalized pyramid scheme where sometimes they become more obsessed with stacking their pyramid than with advising you on real estate matters. But, I'm not just laying the blame here with Realtors because if consumers would take the decision of spending a couple hundred thousand dollars more seriuosly, most of these "hobby" and "pyramid" Realtors would have nothing to do.

So, my entry for this month is just to encourage all you consumers - buyers, sellers, investors, business-owners, etc. to think about it. I'm not saying a Realtor from T. C. Lewis & Co. is the only one to use because there are other experts in the mountain south. But I am saying that you should evaluate your Realtor on more than just a casual conversation that you had with him or her at a playdate with your kids. Remember, there are Realtors and then there are Realtors.

T. C. Lewis & Co's New Website

2011-04-29T17:00:00.000-04:00

This month's entry is for total bragging on our new website! Earlier this month we rolled out our new site with a ton of new features. Now, we're constantly adding to it, so we'll have new things to check out in the coming weeks. For example, there are some 30 and 60 second instructional clip links that we're working on in case you're having trouble with all the features. We'll get those posted asap. So, I thought I would basically discuss the site and provide some reminders about what T. C. Lewis & Co. can do for you.

I'll start with a short summary of the site. Check it out: http://www.tclewisproperties.com/! When you arrive you basically can read all the info about who we are and general descriptions of our services and contact info. Then, you have three options of where to go next. You can click "Tri-Cities Properties and Services," "Western North Carolina Properties and Services," and "International." Once you've made your decision, you're directed to a site dedicated completely to the region of interest. The map with residential properties on that first page allows you to zoom in and draw boxes around specific areas to see more and more properties- the more you zoom on an area, the more properties you're shown. You are searching every property currently available in the reigon! You can also click on the top left of that map and choose to look at "Lots and Land" or "Commercial" properties. You also have the option at the top to select to search via MLS number, address, or criteria that you input. You'll also notice green buttons on the right hand side just below the iphone/ipad app button (you can click that to download the search app and search on the go). The green buttons direct you to things like "Area Foreclosures." You can select your specific search criteria for foreclosures once you click the button and are directed to the next screen. The user has so many tools at his/her disposal on the site that you can also create an account and save properties to check back on later, show to your husband/wife, or compare properties. The account is obligation free, and you have a password protected area where you can view the properties that you like. You can also opt in for daily updates for new properties coming on the market that match your criteria. Like I said, it does everything!!! If you have specific questions, please just call the office, and we'll get you going in the right direction. At the top of the site, the tabs will take you to featured properties for the region, including rent/lease opportunities. We're really excited- can you tell?!

And, as a reminder of who we are... We are an award-winning full-service real estate comany. We are the only one of our kind in the Appalachian Mountain region of the Southeast and serve individuals, corporations, and investors with a residential and commercial real estate purchase and sales brokerage, site analysis and selection services, property management services, and construction/remodeling services. So, please don't hesitate to contact us for any of these needs. We're happy to oblige!

Focus on Regionalism Key to Success

2011-03-27T11:22:00.000-04:00

Washington County Mayor Dan Eldridge was elected the newest chair of the Regional Alliance for Economic Development at its annual meeting Friday, where he told members his role will be one of reviving and refocusing the struggling organization.

Eldridge was among a team of mayors that will now fill the leadership roles at the Alliance. Sullivan County Mayor Steve Godsey will serve as vice chair, Kingsport Mayor Dennis Phillips as treasurer and Patrick Wilson, executive director of the Tri-Cities Regional Airport, will be secretary.

“The opportunity today is to bring in the public sector, but we also look forward to private sector support continuing,” Eldridge said. “The Regional Alliance is a vehicle with which we can learn to compete and win as a region.”

The organization, founded in 2005 by some of the region’s most powerful private-sector players, was previously led by Newt Raff, the market president for First Tennessee Bank. But as Raff said in late 2010, the alliance would be handing over the reins to the public sector at the end of his reign to try a different approach to regional economic development.

“When contemplating the future of the alliance, we decided we needed to make changes,” Raff said Friday. “We believe this new panel can take this forward.”

Officials are hoping the public-led approach (which still does involve plenty of support, financial and otherwise, from the private sector) will mesh more easily with Gov. Bill Haslam’s and the new administration’s approach to economic development. Members are also envisioning the organization will play less of a business recruitment role and instead serve as a marketing draw for the entire region, an approach heralded and practiced by the meeting’s two guest speakers.

Ronnie Bryant, president and CEO of the Charlotte Regional Partnership, called himself an “unapologetic regionalist” and urged those gathered to see past the county, city and state lines that divide the region.

“You need to rethink the notion of competition. If you think winning is stealing jobs or companies from other cities and counties, it’s not. That’s just like reshuffling the chairs on the deck of the Titanic,” he said. “You don’t need a Charlotte. You need collaboration.”

All site selection by companies starts at a regional level, while deals are won at a local level, Bryant said. To that end, all parties with economic development in mind should be pooling their resources to “get more bang for their buck” when it comes to marketing the region.

Once a company shows interest in a region, it is then up to the specific locations to vie for the deal, according to Barry Matherly, the executive director of the private, nonprofit Lincoln Economic Development Association. He outlined one advantage a location can have: He told the Alliance members that 90 percent of the companies that visit his county want to see buildings in the prospective sites they are touring.

“The hook is the building,” he said. “It’s hard to drive by a cow pasture and have someone believe it’s a good opportunity when it looks like you don’t believe in it.”

In Lincoln County, all prospective business parks are outfitted with road, water service and other infrastructure from day one, he said, and spec buildings often follow quickly.

“Pad-ready” sites like Lincoln County’s are what the region is missing, Eldridge said, but it’s a task he thinks the Alliance is ready to conquer this time around.

“We have, and I have been one of them, often complained that Northeast Tennessee doesn’t get its fair share,” he said. “Today is the opportunity to change that.”

Cory Lewis, President of T. C. Lewis & Co. said that the most important thing to take from the meeting was a quote from Ronnie. "It's the most important thing that I heard today. He said that we need to rethink the notion of competition. When we're trying to attract businesses, we need to work as one - the Northeast Tennessee region. We have to get these folks to the table before each county and city can compete for them. We would rather have a business located in the next county rather than the next state or two states over."

Young Professionals Tri-Cities (YPTri)

2011-02-24T15:58:00.000-05:00

I thought that this month it would be best to briefly discuss a great non-profit group in the Northeast Tennessee and Southwest Virginia areas. I think it's probably applicable in one way or another to a lot of the readers of our company newsletter and subsequent sites that these postings are being pulled to.
The Young Professionals Tri-Cities (YPTri) group was founded in the late summer of 2010 by three YPs in the greater Tri-Cities who just weren't very excited about how things were going for YPs in the region. Haize Colvin-Lewis (T. C. Lewis & Co.), Samara Litvack (ETSU and Positive Approach Events & Consulting), and Cory Lewis (T. C. Lewis & Co.) mapped out a straight-forward, lofty plan that entails connecting YPs in Johnson City, Kingsport, Bristol and the surrounding areas both socially and professionally. The hope is to improve the quality of life for regional YPs through unique social, professional, and philanthropic opportunities, while strengthening the local economy and workforce by encouraging YPs to remain in the Tri-Cities region. All this would in turn, unify the greater Tri-Cities are by empowering its progressive, innovative thinkers who will invest in the area, strengthen the economy, and care for the community. They defined YPs as 20- to 40-somethings in the area that share common goals and interests in the group's focus, but all who consider themselves young at heart are welcome.
Well, it's less than eight months later, and the group has already accomplished a lot of what it set out to do. There have been monthly "socials" held since the group's inception with numbers exponentially growing for attendance each time. The group has solidified great relationships with local business owners, potential entrepreneurs, economic development groups, other non-profits, and the local municipalities. They have reached out to areas for members that now include Erwin, Elizabethton, Greenville, Jonesborough, Kingsport, Bristol, Abingdon, and Johnson City. And, YPTri has played host to one major event (Pie Wars: The Clash of the Slices) that put local pizza joints in direct competition for best in Tri-Cities that subsequently raised over $11,000 for the Boys and Girls Club of Johnson City. It's now slated to be an annual event to battle for the coveted "Pizza Cup." The group has won Community Supporter of the Year, been featured in ETSU Today Magazine, and is playing a major role in what will be known as the JC Vision Project and in bringing a Northeast State campus to downtown Johnson City.
The point of my writing about this group this month is more of a sales pitch than anything else. You should get invovled if you're reading this and have an interest in having a voice and actively participating in the growth and expansion of the Tri-Cities. A board is being developed to work toward obtaining 501(c)(3) status with the state of Tennessee, to actively work on a business plan for investors and to ensure stability, and to head up some major projects that are in the works to change the face of what it means to be a YP in our region. Entrepreneurs are going to have the ability to start-up, survive, and thrive in our region, so get on board! The "socials" are always held on the 3rd Thursday of the month, so the next one is March 17th at Main Street Pizza Company in downtown Johnson City, and the group will be provided with some specials that are just for the YPs in attendance, including some special things going on for St. Patrick's Day!

Tri-Cities Area Jobs Rebounding

2011-01-26T23:06:00.000-05:00

In case you missed this article in the Johnson City Press, I thought I would use it as my blog entry for this month. This is good news for the Tri-Cities!

With two consecutive quarters of employment growth, the Tri-Cities is leading the national recovery from the recession, according to a report distributed by local economist Steb Hipple.

In 2010’s third quarter, Tri-Cities metro area employment expanded by more than 5,900 jobs as compared to the same period in 2009, a 2.7 percent increase. In the second quarter, the area saw a gain of more than 800 jobs in year-over-year figures, a 0.5 percent increase.

To see the Tri-Cities leading the recovery “was not the expectation, as we lagged the national economy going into the recession,” said Hipple, who authors a quarterly labor market report for the East Tennessee State University Bureau of Business and Economic Research. “When the national recession began in 2008, labor market conditions here remained pretty good. In 2009, we started to see a downturn in employment, and when it happened, we got two years of decline in one year.”

But the Tri-Cities has bounced back “dramatically,” restoring more than half of the almost 14,400 jobs lost in 2009, Hipple said. At the end of 2008, regional employment neared its highest levels at 232,851 jobs. By the first quarter of 2010, 218,531 jobs remained. The most recent third quarter numbers show a recovery to 228,407 jobs.

In 2010, more than 6,000 jobs were added in the second quarter from first quarter figures. From the second quarter to the third, there was a gain of more than 3,400 jobs. Most of the job growth occurred in the government, and education and health sectors, with smaller gains in retail trade, leisure and hospitality, and wholesale trade. The manufacturing, transport and utilities, finance and construction industries continued to cut jobs, according to the report.

Almost 2,400 fewer people in the region are out of work than at the same time last year. Over the July to September period, the unemployment rate for the Tri-Cities area was 8.6 percent, compared to 9.7 percent a year ago, and all three cities saw employment gains in line with regional trends. On a year-to-year basis, employment gains were 3.4 percent in Johnson City, 3.3 percent in Kingsport, and 2.1 percent in Bristol. The rate of unemployment was 8.8 percent in Bristol, 8.6 percent in Johnson City, and 8.1 percent in Kingsport (compared to 9.6 percent in all three cities in the same period in 2009).

“We’re one of the parts of the U.S. leading the economy, and that’s good,” Hipple said.

But according to the report, “the problem is that ultimately the slow recovery in the nation could have a negative impact on business conditions in the Tri-Cities area.”

Though the national labor market finally began to show signs of recovery in the third quarter with lower unemployment and a smaller rate of job loss, it lacks one key element to recovery.

“Most national economic indicators are pointing in the right direction: production is increasing, consumer spending is higher, retail activity is reviving, the stock market is higher, and unemployment is falling. The missing element is job creation – strong job creation. And significant job growth is not in the short-run economic outlook,” the report said. “So the business outlook is for continued low growth in output, minimum job creation, and lingering high unemployment.”

For jobs, the “critical number” to watch will be the real gross domestic product growth rate, Hipple said, which needs to increase at an annual rate of more than 3 percent to create enough new jobs to account for both new workers and for the out-of-work existing labor force. The most recent data shows real GDP increasing at only a 2 percent rate, and the problem is getting the figure to grow faster, he said.

While the fiscal policy stimulus of $800 billion seems to have helped, Hipple said, the current political climate makes a second stimulus unlikely. Instead, the Federal Reserve has enacted a second round of monetary policy changes. Previously, the Fed dropped short term interest rates to almost zero, and simultaneously expanded the liquidity of the banking system by over $1,200 billion, which was called quantitative easing, the report said. Between now and next summer the Fed plans to expand liquidity in the banking system by another $600 billion (quantitative easing round two, or QE2).

“Changes in monetary policy, whether it’s tight money or easy money, have a delay before they work their way into the economy,” said Hipple, who estimates it will be 12-18 months before QE2 has an effect. “It will help, but it won’t kick in short term. For short term, you need a fiscal stimulus. Because of the political climate, the only part of the government now in a position to provide a stimulus is banking. It’s the weakest way and it will take longer.”

By: Kate Prahlad
Johnson City Press Business Writer

2010-12-28T18:30:00.000-05:00

In light of all the winter weather that we've been having lately, I think the Caribbean may be looking more and more appealing. So, I thought I would briefly mention investing in Caribbean (and Central American) real estate with T. C. Lewis & Co this month.

When many people think about Caribbean property, images of sandy white beaches and lush tropical greenery may spring to mind. However, it is not just these pleasant images which make Caribbean property so appealing. There are many Caribbean property opportunities available which are tailored for investment and anticipated to generate substantial profits for astute investors.

For a Caribbean property to be tailored for investment, there are two important principles which must be followed.

Firstly, setup costs must be minimized to allow investment opportunities to be a viable option to most investors. Also, the less your setup costs are in comparison to profit, the higher your return on investment will be.

Secondly, profit must be maximized. To maximize profit on your Caribbean property, there are several factors which must be given due care and consideration.For example, many investors would require that their Caribbean property be fully managed to provide a healthy rental income. Therefore a management agency or company would ideally be setup to maximize rental occupancy, room rate charged and to fully manage the day-to-day running of the Caribbean property and surrounding land/site.

A favorable way for this to be setup is to buy a Caribbean property within a hotel or resort which is run by a well known and respected operator. This added brand name can greatly benefit the rental potential of your Caribbean property from day one.

Capital growth is also an important aspect to consider. Investors ideally need to conduct research to ensure that they are buying a Caribbean property which will experience sufficient demand for rental and for re-sale. This ongoing demand will ensure that property values will continue to increase and generate a substantial capital profit if and when the investor wishes to sell their Caribbean property.

There are many tax breaks to benefit from on your chosen Caribbean property. On some islands, there are no capital gains or inheritance tax to pay, making buying a Caribbean property a very attractive proposition compared to buying in other countries.

With due care and consideration, investors will be able to buy a Caribbean property which should adhere to all the above aspects and prove to be a profitable long term investment.

Visit TCLewisProperties.com/Projects for more information about current projects ripe for investment in the Caribbean right now.

*Dan Chamberlin contributed to this post.

Home Safety During the Holidays

2010-11-29T16:09:00.000-05:00

I hope everyone had a fantastic Thanksgiving! The Holiday season is upon us, and for most it is a time full of joy, fellowship, and family. But the unexpected can and does happen. So, from stopping theft to preventing fires, here are a few tips from the experts that can help keep your family safe this time of year.

Fire safety comes with the territory of the holidays. Trees and lighting can both be dangerous if not done correctly. When selecting a real tree, be sure to buy one that is fresh. This means you should look for a fragrant tree that is a rich, deep green color. Also, the trunk should still be sticky with sap. Old trees are dry and brittle, and thus can be very flammable. To keep your tree fresh throughout December, be sure to keep it immersed in water at all times. If needles start to fall off, give it more water! For those with artificial trees, don't use electrical lights on metallic trees! And be sure to always turn your lights off you go to bed or leave the house.

Another fire hazard are those beautiful, twinkling lights. Every year's decorating should begin with checking light strands for cut or frayed wires. Also, be sure that lights are used as marked. Indoor lights are for use inside only. Outdoor lights are kept outside.

Next, don't overload your outlets. Three sets of lights to an extension cord is plenty!

Another looming threat during the holidays is home burglary. Thieves prey on those that travel during this season. To prevent thieves from targeting your home, you need to make your schedule unpredictable. That means keep your routine varied. Come home randomly for lunch one day a week. Leave for work at different times. And to give the appearance that someone is always home, leave on a tv or use lights that are on timers.

NEVER POST ON SOCIAL MEDIA THAT YOU'LL BE OUT OF TOWN OR AWAY FROM YOUR HOUSE FOR EXTENDED PERIODS OF TIME!

And as added measures of security, consider installing an alarm system, or having a house-sitter stay at your home or check on it periodically during your vacation.

Use these tips to have a safe and merry holiday season!

A Tale of Hypocrisy in Lending

2010-10-29T11:43:00.002-04:00

There are tons of crazy things happening in the banking industry these days. If you've talked to a bank or mortgage broker about the possibility of a loan, line of credit, home equity loan, etc. then you know exactly what I'm talking about. There are tighter restrictions on consumers, which is not necessarily a bad thing. These restrictions aren't any tighter than they were 5-7 years ago before banks started handing out money to anybody that could sign a piece of paper- and at 100% LTV no less! The values of the properties being mortgaged were also totally inflated in a lot of areas in the United States. There should not be a case when a 3 Bedroom, 2 Bathroom, brick ranch with 2000 square feet built in 1967 should be selling for $735,000- that is unless it's sitting atop an oil field or diamond mine. So, property values were inflated and banks were making 100% loans to people on these properties.
At this same time, the Mortgage Bankers Association was purchasing a $53 Billion building in Washington, DC to serve as their new headquarters. They were growing out of their old space and were tired of leasing- they thought it would make a great investment. After all, I'm sure they knew somebody that would give them a loan : )
So, all was well, getting loans was easy, consumers were upgrading properties, and so was the Mortgage Banker's Association. THEN, there was the meltdown. Property prices began to correct and people were stuck with properties that they couldn't afford- properties that were worth less than the loan amount, and the owner(s) didn't qualify for refinancing.
These restrictions and problems for consumers getting approval aren't necessarily my concern in this entry- just the background for it- so I'll move on to my point. Consumers that were in the aforementioned situation began to analyze it, and some came to the conclusion that letting the property go into foreclosure was the best bet. They felt there was no way to overcome the lack of equity in their property, and they had to have some equity to refinance. They felt like it was a "rock and a hard place" situation, or an "up $%@t creek without a paddle," or any other cliche terms that you want to throw at it. The bottom line is that some saavy consumers figured out that it was the best move to make. Lenders weren't willing to work with consumers on adjusting the terms of their mortgage to allow them to stay in their property, and even began to pull guilt-trips on consumers who mentioned considering just letting the property go.

One of the biggest guilt-trips was when this practice of consumers letting their properties go into foreclosure started to become more widespread, and the head of the Mortgage Bankers Association released a letter to all consumers that told a big tale of how "mortgages were an obligation, and a promise to another." He went on and on about the importance of these agreements between consumers and lenders, and actually made reference to these responsibilites as "being one of the most important to the foundation of the building blocks of the American dream."
Well, things moved forward and were getting worse before they got better. So, the Mortgage Bankers Association decided to look at their own financial situation, the status of their building, it's loss in value, and inevitably decided to- YES, you guessed it- to allow it to go into foreclosure "because of a loss in equity that made the building a bad investment." They now rent a building two blocks over. They continuously refuse to comment on the move to everyone who inquires, and I guess it's like all other things, if they decline to talk about it long enough, people will start to forget about it
The hypocrisy in things - especially in big establishments like Banking never ceases to amaze...

Existing Home Sales Moving On Up / FHA Changes Minimum Credit Score

2010-09-28T17:21:00.000-04:00

Existing-home sales rose in August following a big correction in July, according to the National Association of Realtors®. Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, increased 7.6 percent to a seasonally adjusted annual rate of 4.13 million in August from an upwardly revised 3.84 million in July, but remain 19.0 percent below the 5.10 million-unit pace in August 2009.

Lawrence Yun, NAR chief economist, said home sales still remain subpar. “The housing market is trying to recover on its own power without the home buyer tax credit. Despite very attractive affordability conditions, a housing market recovery will likely be slow and gradual because of lingering economic uncertainty,” Yun said.

According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage fell to a record low 4.43 percent in August from 4.56 percent in July; the rate was 5.19 percent in August 2009.

Yun added, “Home values have shown stabilizing trends over the past year, even as the economy shed millions of jobs, because of the home buyer tax credit stimulus. Now that the economy is adding some jobs, the housing market needs to steadily improve and eventually stand on its own.”

The national median existing-home price for all housing types was $178,600 in August, up 0.8 percent from a year ago. Distressed homes rose to 34 percent of sales in August from 32 percent in July; they were 31 percent in August 2009.

NAR President Vicki Cox Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz., said consumers have been getting mixed signals about the housing market. “People understand the good affordability conditions with stable home prices in most areas, but they’re concerned about the economy and speculation on Wall Street,” she said. “We need to stick with the facts about the long-term value of homeownership and avoid unrealistic assessments. Tight credit and slow short sales are ongoing problems – expediting short sales will help the market to recover more quickly.”

Total housing inventory at the end of August slipped 0.6 percent to 3.98 million existing homes available for sale, which represents an 11.6-month supply at the current sales pace, down from a 12.5-month supply in July.

A parallel NAR practitioner survey shows first-time buyers purchased 31 percent of homes in August, down from 38 percent in July. Investors rose to a 21 percent market share in August from 19 percent in July; the balance of purchases were by repeat buyers. All-cash sales slipped to 28 percent in August from 30 percent in July.

Single-family home sales rose 7.4 percent to a seasonally adjusted annual rate of 3.62 million in August from a level of 3.37 million in July, but are 19.2 percent lower than the 4.48 million level in August 2009. The median existing single-family home price was $179,300 in August, up 1.2 percent from a year ago.

Single-family median existing-home prices were higher in 10 out of 19 metropolitan statistical areas reported in August from a year ago (the price in one of 20 tracked markets was not available). Existing single-family home sales were down in all 20 metro areas from August 2009.

Existing condominium and co-op sales increased 8.5 percent to a seasonally adjusted annual rate of 510,000 in August from 470,000 in July, but are 17.1 percent below the 615,000-unit pace in August 2009. The median existing condo price5 was $174,000 in August, which is 2.8 percent below a year ago.

Regionally, existing-home sales in the Northeast rose 7.9 percent to an annual level of 680,000 in August but are 24.4 percent below August 2009. The median price in the Northeast was $260,300, up 7.6 percent from a year ago.

Existing-home sales in the Midwest increased 5.0 percent in August to a pace of 840,000 but are 26.3 percent below a year ago. The median price in the Midwest was $149,600, up 0.4 percent from August 2009.

In the South, existing-home sales rose 5.2 percent to an annual level of 1.62 million in August but are 13.4 percent below August 2009. The median price in the South was $155,000, down 1.5 percent from a year ago.

Existing-home sales in the West jumped 13.8 percent to an annual pace of 990,000 in August but are 16.1 percent lower than August 2009. The median price in the West was $214,700, which is 2.5 percent below a year ago.

COURTESY WALTER MOLONY, NATIONAL ASSOCIATION OF REALTORS (www.Realtor.org)

Additionally, On September 3, 2010, the US Department of Housing and Urban Development (HUD) released Mortgagee Letter 2010-29, Minimum Credit Scores and Loan-to-Value Ratios. This is in accordance with Federal Register Notice FR-5404-N-01, which proposes minimum credit scores and loan-to-value (LTV) ratios. So, we'll have to see what effect this new score guideline has on sales as we move forward. Here's the jist of it:

Effective October 4, 2010, borrowers with a credit score below 500 are not eligible for FHA-insured mortgage financing. Borrowers with a credit score between 500 and 579 are limited to 90 percent LTV, which requires a 10 percent down payment. Borrowers with a credit score of 580 or higher are eligible for maximum financing, which requires a minimum 3.5 percent down payment. Borrowers with nontraditional credit histories may be eligible for maximum financing.

Two Giant Leaps in the "Green" Direction

2010-08-31T16:22:00.000-04:00

This last month has been very productive on the green building homefront. We've made two giant leaps in the right direction!

First, we're very happy to announce that we have solidified a program with the city of Johnson City that will allow a person to apply for a green building permit for residential or commercial construction at a discounted fee rate. Then, upon satisfaction of green building requirements, a green Certificate of Occupancy will be issued. The city manager, Pete Peterson, the head of the building department, Phil Pinzola, and Herman Marcom, the head building inspector, have been fantastic to work with and should be commended for their efforts in working with us to get this program in place. The proposal will land on the agenda for city council's approval in the September meeting, and the program should be off and running by the end of year - pending some revisions to the current permit computer system.

Second, we've made a proposal to the Northeast Tennessee and Southwest Virginia Multiple Listing System to implement "green" input and search fields into the system, and their response was, "Let's do it!" That all sounds like a mouthful, but it basically allows for three important things: (1) the Realtor will have the ability to input green features of a property into the system (including type of certification), and (2) it allows folks searching for property to search using green features if they have an interest in doing so. And, most importantly, (3) it allows appraisers to begin to see documented value in green attributes of real estate. On a side note, if you're looking for property, visit TCLewisProperties.com and click your region, then "Property Search" to input your specific search criteria. Anyway, we're working out the final details of the proposal now and Karen Randolph, who serves as chair of the MLS Board, is anxiously awaiting to implement our green initiative.

Things are looking more and more green in the Mountain South, and it's fantastic! We appreciate all who have worked on making these two big steps possible, and I'm always available to answer any questions about green building or real estate. So, until next month, have a great September!

T. C. Lewis & Co. Project Getting Some Press

2010-06-29T13:04:00.000-04:00

It's been a long time in the making for a certified, four-star rated, green community in Northeast Tennessee to begin to see light at the end of the tunnel. Developer Cory Lewis started the project in 2006, and is now beginning to finish up infrastructure in the first phase with intentions of breaking ground on the first home in the community late this year. "We've experienced a lot of obstacles with this project, some expected, some unexpected, and others self-inflicted, but we've rolled with the punches on it, and our plans have transformed to overcome problems. Nobody said that developing green is easy, but it's just what we should be doing," says Lewis. Carolina Cove is now a private community with eight lots in phase one, eight more in phase two, and twelve more in the final phase. "We never lost sight of our overall vision of this community - especially the green aspects. The low-impact development, the features and amenities that encourage folks to be outside, and the signature style have all always been at the forefront," explains Lewis. The style is "rustic craftsman." Lewis has coined the term after slowly starting to fuse the new with the old on projects while always keeping things traditional and timeless. "We feel that what people, including my wife and myself want is a modest size and priced home that has a smaller carbon footprint, is less invasive, but has all of the amenities and technological features of a large, half million dollar property. So, those are our intentions at Carolina Cove. The homes will pack a punch with a lot of amenities for the money." Home prices will start at around $200,000 and run up to just over $400,000, but according to Lewis the homes aren't the only part of the community that boast some big features for the money. Carolina Cove welcomes homeowners with a private, gated entrance and a large waterfall made from boulders found on-site. There is a walking trail throughout the property that runs roadside before dipping over into the green space at the rear of the community. The walking loop is approximately a mile. There are a couple of different native-landscaped, sitting areas for gathering with family or neighbors to take in the sunset and beautiful Boone Lake views. The community features a cookout area for homeowners, along with a stone fire pit in the cul de sac. "The entire community is certified green for its development, it's a certified wildlife habitat, all homes will be certified green, and we hope that the folks that choose to make Carolina Cove home will live green," Lewis adds. Carolina Cove is located in Johnson City, Tennessee, and there is a ribbon-cutting and cookout planned for the opening of the community late this year.

-Anne Goepel, Living Green Magazine

Check out the video of coverage of the commuity under construction from CBS by clicking HERE

What's Eating Up All That Electricity?

2010-05-28T15:45:00.000-04:00

Ever wonder where the biggest chunk of your utility bill comes from? It actually comes from your appliances. Surprisingly, the refrigerator is a huge chunk of utility bills. It's the chief energy guzzling appliance in your home, consuming a whopping 13.7% of house-hold energy, over 1000 Kilowatts of electricity a year, and nearly five times the electricity of a color TV - often nearly as much as a clothes dryer, freezer, and television combined - according to the U.S. Department of Energy. Luckily, newer Energy Star certified models will save you a bundle on utility costs. We often shut off the lights and turn down the heating and air conditioning to save energy, meanwhile, huge amounts of energy are escaping from the refrigerator door as we scour for a midnight snack.

But we are not the only ones to blame, as our out-of-date refrigerators are just as guilty. In fact, according to Energy Star, refrigerators from before 1990 use enough extra energy in a year (over a current Energy Star-rated model) to light a house for four months! Efficiency has been improved with better insulation, more precise temperature and defrost gauges, and more efficient compressors. And improvements have been continuous - models today realize nearly 40% savings in energy use over refrigerators in 2001.

What if you don't want to rush out and buy a new refrigerator? If you just bought a new refrigerator or weren’t planning on buying one anytime soon, I found a few simple steps from reliable sources that can reduce the energy consumption of your existing refrigerator:

• GET RID OF THAT SECOND AND RARELY USED ENERGY HOG LIVING IN THE BASEMENT OR GARAGE!

• Keep your refrigerator at a distance from heat sources such as the oven, dishwasher and direct sunlight so it isn’t working extra harder to maintain a cooling temperature.

• There should be ample space between your refrigerator and the wall or cabinetry behind it so that air can circulate around the condenser coils. And, make sure the coils remain clean so the compressor doesn’t have to work harder.

• Make sure the door seal is tight.

• Try not to keep the door open for extended periods of time.

• Defrost the freezer. Freezer build-up more than ¼ inch can affect the freezer’s efficiency.

• Keep the refrigerator temperature at 37 – 40 degrees Fahrenheit and the freezer at 5 degrees Fahrenheit.

I also found out about an odd suggestion that some of the more daring readers may want to try out. Be sure and let me know how this works. The suggestion is to fill as much empty space in the refrigerator with containers of water. It's supposed to reduce the amount of cold air drop every time the refrigerator is opened. Good luck on that one...

Anyway, where should I get my new refrigerator? Buying an energy efficient refrigerator doesn’t need to be a complicated task. But, given the savings in energy and cost for the modest premium in purchase price, it should be a relative no-brainer. According to Energy Star, the life cycle air pollution reduction of an Energy Star refrigerator is 1,434 lbs of CO2 or equal to .13 cars removed from the road. Annual life cycle cost savings is $72. With this said, buying a refrigerator that can help reduce energy consumption in your home is a good and green choice for your budget and for the environment.

All of the above is magnified when you consider commercial grade appliances and refrigeration units. The statistics on the improvements to those is equally (or exceedingly) staggering. And, don't forget to recycle (or properly displose of) your old refrigerators and appliances. Visit EnergyStar.com to find out where refrigerators can be recycled, or call your local city/county waste management office.

Energy Star Program Working - Let's Keep It Going

2010-04-30T00:03:00.000-04:00

The U.S. Environmental Protection Agency (EPA) released a list of U.S. metropolitan areas with the largest number of energy efficient buildings that earned EPA’s Energy Star in 2009. The list is headed by Los Angeles, Washington, D.C., San Francisco, Denver, Chicago, Houston, Lakeland, Dallas-Fort Worth, Atlanta and New York. Energy efficiency saves building owners money and fights climate change.

These cities see the importance of taking action on climate change," said Gina McCarthy, assistant administrator for EPA’s Office of Air and Radiation. “Communities from Los Angeles to Louisville are reducing greenhouse gases and cutting energy bills with buildings that have earned EPA's Energy Star."

EPA first issued its ranking of cities with the most Energy Star labeled buildings last year. This year, Los Angeles remains in first place; the District of Columbia picks up second; Denver and Chicago move into the top five; and Lakeland and New York City are new to the top 10.

Continuing the impressive growth of the past several years, in 2009 nearly 3,900 commercial buildings earned the Energy Star, representing annual savings of more than $900 million in utility bills and more than 4.7 million metric tons of carbon dioxide emissions.

Since EPA awarded the first Energy Star to a building in 1999, nearly 9,000 buildings across America have earned the Energy Star as of the end of 2009, representing more than a 40 percent increase over last year’s total. Overall annual utility savings have climbed to nearly $1.6 billion and greenhouse gas emissions equal to the emissions of more than 1 million homes a year have been prevented.

Energy use in commercial buildings accounts for an estimated 17 percent of U.S. greenhouse gas emissions at a cost of over $100 billion per year. EPA awards the Energy Star to commercial buildings that perform in the top 25 percent of buildings nationwide compared to similar buildings. Thirteen types of buildings can earn the Energy Star, including schools, hospitals, office buildings, retail stores and supermarkets.

I've made this comment before, and I'll make it again - the National Green Building Standard Program's Bronze (minimum) level requires that a structure perform 15% more energy efficiently than Energy Star standards. So, with more and more folks building to the National Green Standard, we should see exponential savings in energy usage as we move forward. I would love to see a city like Asheville, one of the Tri-Cities, Boone, Abingdon, or Charlotte on the list as we all continue to push green building ahead. Great progress so far!

New Figures Released May Explain Rising Interest in Green

2010-03-29T23:59:00.001-04:00

I was talking to a colleague and a client earlier today, and we were discussing how far “green conversations” have come in the Northeast Tennessee and Southwest Virginia area since this time last year. It’s truly amazing to think about. Subcontractors are much more knowledgeable and willing to learn, city/county officials aren’t turning a deaf ear to the conversations, and clients are now interested in all things green. Some of these things are old hat for those of you in parts of Western North Carolina, but it’s very exciting to see the exponential growth of interest in East Tennessee! I’m sure that part of the reason for the “new attitude” about green is due in part to the economic situation surrounding the real estate and construction industries – at least for the city and county officials. When there’s not much going on, officials become much more open to a new idea that may spark some business and growth for their city/town or county. However, I would like to think that a majority of the growth in interest in green is due in large part to the work of the Northeast Tennessee Green Building Council. So, here’s a big pat on the back to any of you involved directly or indirectly with the council and getting the word out about green construction over the last year!

I also tend to think that some of the new figures that have been released really work to paint a pretty picture of the kind of impact that green construction and remodeling is having on the planet. And, that can’t be bad for the movement! According to Department of Energy reports, green homes built to the EnergyStar certification standard in 2009 were the equivalent of: Taking 51,645 vehicles off the road, saving 312,399,672 pounds of coal, planting 85,372 acres of trees, and cutting out 612,678,574 pounds of CO2. I think those are staggering statistics – especially for techniques that can add as little as 1-3% to construction costs.

As a company, we build to the National Green Building Standard which has four certification levels (Bronze, Silver, Gold, and Emerald). And, what I find really exciting is that the Bronze level of the standard requires 15% better energy efficiency than the EnergyStar certification that was used for the study. If more folks build to the National Green Standard in 2010, we’re going to really start to reduce our impact on the planet!

I like where things are headed in the region where green is involved, and it says a lot that more and more folks are starting to understand that green construction isn’t just impacting the environment – it’s putting money back in the pocket of the consumer!

Hybrid Vehicles vs Energy-Efficient Homes

2010-02-24T23:39:00.000-05:00

At this past weekend's 41st Annual Home and Garden Show in Johnson City, I had the opportunity to hear Jeff Christian with Oak Ridge National Laboratory (and UT professor) speak. I taught a seminar before him, and thank God for that. Had I gone after, I would have looked like even more of an amature. Anyway, Jeff has recently been appointed the head of a research project by Oak Ridge, TVA, and Vice President Biden to research the effects of improving energy efficiency in existing homes on the power grid. It was one of the most interesting angles on "green" that I have ever heard, so I thought I would mention it in this blog entry while I mix in a few thoughts of my own.

He started with talking about the power grid. One of the major problems throughout the country is that power grids are becoming more easily overwhelmed by demand. That leads to the need for more coal, more wind trubines, more solar panels, more everything. We've all heard of rolling blackouts in California, and they're becoming more frequent and occuring outside of just California at this point. Jeff talked about alternative energy/fuel sources, but beleive it or not, that wasn't his big concern. The reason for that not being his focus is that according to his research, we have to get demand under control and develop the ability to use our energy/fuels more efficiently before we start to further the development of alternative fuel sources. For example, it has been said that to use corn-based fuels for cars, every crop in America would have to be devoted strictly to fuel to meet the demand, and then it would still fall short. Cars, Jeff said, aren't the problem or solution at all. 71% of all the energy consumed in the country is by structures! That is an enormous amount, and producing a bunch of hybrid vehicles is not going to solve that problem. In fact, Jeff said that it will actually make things worse because all of those hybrids get plugged into the power grid to recharge. So, the entire research project is devoted to looking at the expense and amount of difficulty in retro-fitting homes and buildings for energy-efficiency to begin to reduce demand. Only when we get demand under control can we begin to look at alternative fuels. Then it will make more sense.

The research project is well underway, and some subject's power bills (for example) are down to under $1 per month after retro-fitting. So it's not just reducing the kilowatt hours used, it's also keeping cash in homeowner's pockets. Jeff went on to say that he has no doubt that over the next 8-10 years there will be mandates on homes to be energy-efficient to at least some set standard. It's important to note that it's already state-mandated in Oregon that homes meet a certain energy-efficiency requirement.

And, you know how new appliances have stickers on them that show consumers how energy efficient they are (or aren't)? That is coming for homes... At some point in the near future, you'll be able to check out the "stickers" on the homes that you're considering purchasing for a breakdown of energy, water, and construction/remodeling materials efficiency. And, if you want to have this ability before "some day in the near future," we have the ability to calculate this in our new construction and remodeling projects now!

The future continues to look bright and green, so if you're someone who supports (or disagrees with) the green movement, green building, and energy efficiency, please feel free to post questions or concerns.

Northeast Tennessee 2009 Builder of the Year

2010-01-24T17:18:00.003-05:00

On Saturday night at the Holiday Inn ballroom in Johnson City, the Homebuilders Association held its annual Gala. Congressman Dr. Roe, Mayor Myron, some commissioners, and all the other folks whose business it is to hold babies and shake hands were in attendance, along with a couple hundred builders, developers, and guests. It was a great evening for catching up, talking a little business, eating, and kicking back a few drinks. To sum up the evening in short, Mr. Gerald Thomas (Thomas Construction), the incoming HBA President for 2010, gave a great speech about the successes of the association in 2009 under the leadership of outgoing President Bob Garrett (Atlantic Investments) at a time when the economy has been less than cooperative. Gerald also introduced Congressman Dr. Roe who was the keynote speaker and also installed the Board of Directors for 2010.

And, well, the title for this entry pretty much sums it up for the awards portion of the evening! It was a great surprise to my wife Haize and myself when Bob Garrett presented me with the 2009 Northeast Tennessee Builder of the Year Award. I appreciate the award, and I'm definitely humbled by it. I jokingly said afterward that maybe we won by default because so many builders are out of business now. But, seriously, it's great to be recognized for what you do and what you're passionate about. It has always been our belief that if we have a good (all-inclusive) plan going into every project, and we build or remodel something environmentally and professionally responsibly, and we end up with something where we ourselves would feel good about living or working, then we've accomplished something positive for the area. I feel as though we owe a lot to the folks that we work with daily- Haize of course, Adam Hendrickson, Dave McClelland, Rick Williams, Darrell Brummett, Ryan Williams, Rob Cookenour, subcontractors, and a lot of others who have helped to make our Construction and Remodeling Division what it is. We definitely couldn't have done it without our clients! And if you haven't worked with us before, we're always talking about our slogan The Standard of Comparison, and we take it very seriously- we do a great job.

We have pretty lofty goals, so by no means are we satisfied with where we are at this point, but it is great to be recognized. There's not a lot of productive insight or info for folks that I usually try to provide about real estate or construction in this entry. I'm just taking the opportunity to give all of our folks a big pat on the back. So, thanks again! It looks like that at least in 2009 our slogan has been validated as The Standard of Comparison in Construction and Remodeling.

If You're Not Buying Real Estate Now, You're Either Stupid or Broke

2009-12-11T19:05:00.001-05:00

I'm taking this entry a little outside the bounds of my blog's title, but it still somewhat applies. And, if the title offends, stop reading now. But, it isn't my title- it's actually a slight variation of the title of an article in Business Week. It's attention grabbing, but it pretty much sums up what those of us in real estate-related industries are talking about amongst ourselves. So, there you go- the secret is out. It's because of things like interest rates and prices of property being down. I mean did you see where the Silverdome in Detroit sold for $583,000? The city spent $55.7 Million to build it- pretty sweet deal for some sneaky Canadian investors...

My situation is the latter part of the title because of real estate investments that I've already made personally. But, the "stupid" part applies to a lot of folks who are waiting on the grass to get a little greener. The truth is the grass can't possibly get any greener! Interest rates are at an ALL-TIME low right now- this week they're at 4.31% for a 30 year fixed loan and a minimal qualifying credit score. This is by far more important than any tax credits (like the $8000) that are available to first-time homebuyers and the $6500 available to exisiting homeowners. Don't get me wrong, I wouldn't give my tax credit back, but the interest rates are much more of a big deal.

Here's why. By the end of 2010 or in early 2011, interst rates will be upwards of 7 or 8%- and maybe higher. The Fed will have to do that to try and stabilize the economy and inflation rate. And, right now, in most areas of the Mountain South, a buyer with a saavy Realtor (preferably from T. C. Lewis & Co.) can negotiate a house normally priced at upwards of $300,000 down to around $250,000 (in a lot of cases). So, a monthly mortgage payment with a 5% downpayment at 4.31% on an above average home in the Mountain South- let's say $250,000- is going to be roughly $1171.00 per month. When interest rates get to 8%, that payment is going to jump to around $1743.00 per month. That's a huge amount- nearly $600 per month! That's more than the total monthly rent that my buddies and I paid in college!

Now, here's the other side. We also have those "smart buyers" out there right now that are thinking that prices may continue to drop for a few more months into 2010, so they'll just wait to purchase. I use the term "smart buyer" loosely because the prices may indeed drop, but it's all in the math. Check this out. If a "smart buyer" waits to purchase a home for a few thousand dollars less sometime near the end of 2010 and has to take an 8% interest rate, he or she is actually losing money. Let's use the same house example as before. Let's say the house that we could negotiate to $250,000 now is still on the market in late 2010. At that point, it may be that we could negotiate it down to $230,000. But, a $230,000 mortgage with that same 5% down and an 8% interest rate will cost around $1604.00 per month. That's still $433 above the mortage payment for that house at a higher price but lower interest rate now! Let's run that purchase price all the way down to $200,000 at the end of 2010. With the 5% down and 8% interest, that mortgage payment is still $1395.00. That's still more than $220 over the first scenario!

So, the whole key to this is thing is the math. Buy a $300,000 home today at a fairly discounted price of around $250,000 and get a mortgage at 4.31%. Or, you can wait a year, hope it's still on the market, and try to possibly get the place for another $50,000 less (at $200,000) and actually end up paying more for it. Consumers have to stop looking at the "sticker price" and start weighing everything that goes into the purchase.

And, don't even get me started on the "smart buyer" who buys for that $200,000 price and then decides to sell a year later for $350,000 after setting a terrible comp for themselves in the neighborhood... their own house! I guess it will be the appraiser's fault at that point, right?

So, the moral of this post is to avoid being a "smart buyer." Find somebody who knows how to help advise you, and then listen to them. Please don't prove the "stupid" part of this title right...

Radio Interview Made Me Think...

2009-10-08T15:11:00.000-04:00

I did a radio interview for the folks at Citadel Broadcasting's 92.7FM this morning in Johnson City, and had a great time with the host of the morning show, Dave Hogan. We figured out that we both grew up in small towns in WNC (me in Sylva, him in Andrews) and knew some of the same folks- very nice guy. It's good to meet people from back home living in this Northeast TN area. Anyway, the interview topic was about green building, and it got me thinking about lost (or forgotten) technologies and the re-introductions of them and the effects on our modern culture. I always talk about this when I'm discussing green building with someone, and I haven't yet discussed it on this blog. Before there were central heating/air units, "endless" supplies of water through indoor plumbing, and electricity, people had great innovations for just making things work. Many ancient civilizations figured out that using stone floors and walls in construction, and combining that with knowing the angle of the sun at certain times of the year (for that particular location) could make a huge difference in heating and cooling the dwellings, with what we now know as heat masses and passive solar heating. They took window placement into account for good air flow at warmer times of the year. And, that was the original purpose of windows- to use them for more than just a place to hang window treatments. They were a source to both welcome and block out the elements, provide natural lighting before there was electricity and light bulbs, and to dump your chamber pot (yuck). Communities worked together to make things work for everybody with shared wells and gardens- I'll grow corn, and we'll trade you some for part of your beans. My reason for always bringing this up with folks in conversation about green building is to point out that all of these "antique technologies" have been re-discovered and introduced as "green building." It's the same with vegetables that we ate growing up from our garden that are now served in boutique grocery stores and called "organic food." I shop there because the food is good, fresh, and not injected with anything. It holds true for construction, too. All of these old technologies are revised, and they're the central principles for every major green building program. The beauty is that we are now realizing that we can take the technological advancements that we've made with heat pumps, running water, electricity, etc- combine them with these principles that were developed centuries ago, and reduce our use of utilities and natural resources very significantly. It's amazing how the mix of old with the new, both in technology and style, is coming on so strong right now. The pairing of the two is such a natural fit, and I hope that some of the folks who are "scared of green" (both consumers and builders) can start to get some perspective about how simple some of these principles are and begin to educate themsevles about how beneficial "going green" can be. Maybe we should stop calling it "green building" and "going green" and start calling it "logical, common-sense building"; "money-saving construction"; or "antiquing."

Quantifiable Green VS Advertising Ploy- Ask an EcoBroker

2009-03-01T21:54:00.000-05:00

Don't be sold on "green" advertising ploys- ask questions. It's important that you understand that one of the biggest problems facing green building are the companies that learned a few terms that they like to throw around in conversation and display on trucks and in advertising: "Ask Me About Energy Efficient Homes." Searching for a home is an exciting time, and it's easy to get caught up in the excitement of the possibility of living green- you just need to make sure that you're getting what you think you're buying. The best way for the consumer to overcome these advertising ploy problems is to ask questions. You might consider seeking out a Realtor certified in green homes- an EcoBroker. EcoBroker training puts the Realtor through rigorous classes that educates him/her with the same knowledge that a green builder obtains during certification. An EcoBroker can guide you to ask the right questions about the builder's experience and certification for building green. There are classes and certifications that green builders who actually build green will obtain. Ask what green building program the builder follows for his/her green-built homes. All green-built homes have to follow a green building program (NAHB/ANSI Program, LEED for Homes, EnergyStar, etc) to allow for third-party certification of integral parts of the home's construction (even in the planning phase). These programs also allow for the qualifying of tax credits, loan discounts, local benefits, and (most of all) they ensure that the home is a true, green home and that you haven't fallen victim to an advertising ploy.

Post your questions or comments... There are more green rants from a green builder/developer coming soon, so until next week- peace!

Green Building- Liberal Invention or Here to Stay

2009-02-22T23:20:00.000-05:00

We know that there's been a lot of people trying to dismiss global warming and all that it entails. And those same people have been dismissing eco-friendly design and green building as the newest yuppie fad. But, it's definitely much more than that, and it's here to stay. When it's done correctly, third-party verified, and HERS Rated- there's no question about "green" being real. The results speak for themselves, and we're slowly seeing the tide turn in those people who are "non-believers." It's all because it eventually hits 'em where it hurts- their wallet. The hold-up for the general public is that a lot of those same folks who are non-believers and think that green building is a yuppie fad are builders and suppliers themselves. There are too many builders and suppliers who are too comfortable with (my most hated phrase) "doing things the way that they've always done them" and are simply unwilling to change. It's going to be important for the laws of economics to change this- supply and demand. The public has to begin to educate themselves about what green building and remodeling is all about, it's benefits, and why it's so important, and start to demand CERTIFIED green-built homes and offices. The case makes itself, but the public has to take interest, and a soapbox has to be created for those of us with the answers to be given the forum for the questions to be asked. I know that was a mouthful, but I hope that as I start writing in more detail in this blog, that the facts about green building/remodeling and eco-friendly design become clear to everybody.

There are more green rants from a liberal yuppie builder/developer coming soon, so until next week- peace!