Environmentally Conscious Real Estate of Cincinnati

Come and join us in applauding the Cincinnati Northside Community Urban Redevelopment Corporation in their latest success, the completion of their first renovated home at 4154 Mad Anthony St.  We are celebrating with a grand opening for the community on Thursday, March 19th from 5-7 p.m. 

Many of you are familiar with CNCURC’s first two projects, the LEED Silver certified homes at the corner of Chase and Fergus.  4154 Mad Anthony is the next in what promises to be a long, productive career for CNCURC, a tremendous gut rehab project offering energy efficient upgrades, low-VOC fixtures and finishes, a double lot and that elusive off-street parking so rare in Northside. 

Tour this fantastic example of Northside’s urban renaissance, hear more about CNCURC’s other projects underway and stick around for beer, wine, food and great company.  Bring your friends and colleagues and help us spread the word!   For more information, call Libby, 513.260.9632 or Jami, 513.515.0689. 

So much is changing on the green energy front that it seems impossible to keep up at times.   Jami and I are fortunate to have friends in green places… we’ll stay on top of the eco wave as best we can and keep passing it along.   In response to strong client interest as well as our own instatiable curiosity, we have recently spent time with John Fanselow of Third Sun Solar and Wind as well as Gerald Checco, Cincinnati Park Board Superintendent, discussing solar applications for private residences.

We speak with homeowners on a weekly basis who are interested in learning more about solar energy, and those that have already done their homework understand that the costs are not insignificant.   When considering alternative energy for our Cincinnati homes,  there are several key factors to understand.   Wind doesn’t work here, sad but true.  Geothermal is always our top recommendation for HVAC.  For your best electric alternative, go solar.  The investment is not as scary as you think given the Renewable Energy Credits available - AND your solar installation can have an average return on investment of just over 8 years.

Thanks to both Gerald and John, here’s a quick example of the cost-benefit analysis:

Installation of 5 kw system:                         $40,000

State Grant:                                                     -$17,500

Net:                                                                     $22,500

Federal Tax Rebate (30%)                              -$6,750 

 Your cost:                                                      $15,750

But wait!  It gets better:

Annual Production of Electricity:               6,000 kwh

Distribution and Generation Charges:        $.07/kwh

Renewable Energy Credit (REC):                 $.25/kwh

Total Value:                                                 $.32/kwh

Return/Year:                                                    $1,920

Return on Investment:                                 8.2 years

(kw – kilowatt; kwh – kilowatt hours)

According to John, a 5 kilowatt system will supply approximately half the electricity needed for an average-size home in our area.  In order to be eligible for the REC program, there are some requirements, such as a minimum 2kw system.  As he is quick to point out, a national study showed a $20 increase in property value for every $1 in energy upgrades from renewable sources, making it a true benefit when it comes time to sell.   For more details on the tax incentives, call us. 

Duke Energy does not want to build any more coal-burning power plants, but energy consumption continues to grow and supply must meet demand.   As consumers, it’s in our hands to demonstrate our commitment to the environment and make the most responsible choices possible.   We understand that a $15,000 investment is not within reach for most homeowners today, but it will become more and more attainable.  Let us know your thoughts…

Jami and I find ourselves troubled by something.  Many of our dear buyers are still on the fence, waiting for the deals to get even juicier…  so listen up.  Tempted to take the Market-Hasn’t-Yet-Hit-Bottom skeptics (gently) by the (proverbial) throat and throttle them, yelling:  “Interest rates are at an all-time low!  You could get an $8,000 tax credit!  Average sale prices are down 12%!”, we instead choose to say: “We know you just love working with us so much that you don’t want to buy yet and put an end to these fabulous all-day house-hunting parties we have…”  And buyers, we luv you too.  No, seriously, we mean it.  But we want you to understand something.  This could very well be the most opportune time to buy for a long, long time:  Carpe Diem!  Oops, I mean Carpe Domus!

 On to the exciting home buyer tax credit.  We are getting lots of calls this week about details, so we’d like to pass along some quick highlights from our good pal and in-house loan officer extrordinaire, Ann Lafferty:

• For first time homebuyers only (defined as people who have not owned a home before or have not owned a home within the last three years)
• Does not have to be repaid
• Is equal to 10% of the home’s purchase price up to a maximum of $8,000
• Available for homes purchased on or after January 1, 2009 and before December 1, 2009
• Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit
• Participating in the program is easy!  Buyers claim the tax credit on their federal income tax return – there isn’t an “application” process
• Unlike the previous program, buyers who used bond money programs to finance their home can claim the tax credit

And, if you are still on the fence about who to call when you do finally decide to put your house on the market or look to buy that first home, chew on this:  58% of Cincinnati realtors did 3 or less transactions in 2008.  We did 46, even in this crazy market.  Call now!  Operators are standing by…

Let’s get something cleared away first.  The Cincinnati Northside Community Urban Redevelopment Corporation, more effortlessly referred to as “CNCURC, ” is pronounced – how?  ”Kirk,” “Churk,” or “Cin-kirk” – take your pick, the jury is still out on that one. Whatever you may call them, this dynamic group continues to improve upon their extraordinary demonstration of civic capacity.  Founded in 2006 to eradicate blight in targeted Northside neighborhoods, this CDC (Community Development Corporation) continues to make a huge impact with their latest success story, 4154 Mad Anthony.

CNCURC purchased the home in early 2008 and, securing the combination of public and private and funding needed for the proposed redevelopment, architect Tim Jeckering’s plans were set in motion.  Under the direction of Project Manager Michael Berry and the board of directors headed by President and long-time neighborhood activist, Stefanie Sunderland, 4154 Mad Anthony has unfolded into a prime example of sustainable reclaimation.  Working with the solid, double-brick exterior, the interior has undergone a total overhaul:  new drywall, oak flooring, all new HVAC system, elctrical wiring, PEX plumbing, roof, gutters and downspouts, windows, spray foam insulation, fixtures, lighting and cabinetry.  

Having made a firm commitment to greening the housing stock they control, CNCURC made the most energy efficient choices that the budget would allow, paying attention to indoor air quality as well.  The icynene (foam) insulation will reduce air infiltration dramatically, to about 1/6th of fiberglass batting.  Insulated windows and a high-efficiency heating and cooling system will significantly improve the building’s thermal envelope.  Mature trees on this beautiful double lot will help  keep the home cool in the summer.

 The home’s modern updates,  two generous bedrooms, 2 baths, large open living area on the first floor, second floor laundry, modern kitchen with conrete countertops, stainless steel appliances and ample lighting, blend well with the original charm of the house, preserved in features such as the two original mirrored oak and tile fireplaces and restored banister.   The large front porch and rear deck provide plenty of room for outdoor entertaining, with off-street parking in the back and plenty of yard for children, dogs, or gardening.  Located just two blocks from CNCURC’s first two LEED-certified projects at the corner of Chase and Fergus, 4154 Mad Anthony is within easy walking distance to Northside’s Entertainment District, local greenspace and is just steps from Bloomfield + Schon’s proposed Factory Square project. 

The home is represented by Libby Hunter and Jami Stutzman of Comey and Shepherd Realtors, listed at $154,900.  (513) 260-9632 or (513) 515-0689.   Stay tuned for details of the grand opening event in early March!

Check out the latest from Sian Bitner at the Enquirer:

“Real Estate Life is Greener on the Other Side”

AND…

Jami and I just finished up a tour of Gateway Quarter’s new LEED-certified condo project, Mottainai (VERY cool – call for details!).

Nearly on a daily basis we are asked where to begin with making energy upgrades to Cincinnati’s aging housing stock.  As we’ve written, the first best step is to go with a home energy evaluation (call our friends at EnergyQue), or a more in-depth full blower door test with certified contractors such as  Professional Energy Consulting or Green Building Consulting.  These services will range from $145 – $450 for an average sized home, but we understand that there are those of you out there who would like to know what can be done without spending a dime or calling in the specialists.

For those die-hard do-it-yourselfers out there, grab a notebook and get ready to do a full sight-check of your home.  This is just a small sample of items to note in your house, but take it seriously, and consider ways to expand on this and visit other sites such as The Home Engery Saver to calcuate your energy usage.   Starting in the basement, make certain your hot water heater is set to 120 or less, and start making a list for Home Depot:  hot water heater jacket, $25.  The return on investment is typically less than a year for this no-brainer.   Add to this some foam tube insulation to wrap around your hot water pipes, and you can boost your hot water efficiency signifcantly.

If you have a forced-air furnace, and central A/C, change the filters!  We see numerous houses each week and as realtors, we make energy efficiency a priority when showing properties.  Jami and I provide info to our buyers on a home’s energy usage as well as potential risks and costs associated with taking on a house with outdated systems.  An un-serviced furnace with nasty, old, over-used filters is a red flag that there could be other deferred maintenance issues with the house.  While checking over your HVAC, take a close look at the ductwork.  If you have an older home, chances are your ductwork is not sealed at the joints.  Ironically, duct tape is not your best bet here – get a small tub of mastic (Home Depot list) and apply it to all the joints to keep that air flowing where it is intended.  Consider a programmable thermostat upstairs – the cost of $115 or so will pay for itself in a little over half a year.

Basement windows and exterior doors – take advantage of this cold weather and feel for leaks.  Caulk the gaps (a further word of advice – don’t leave the caulk gun where the kids can find it – we had a Battle of Normandy re-enactment with the caulk guns, not pretty…). 

Moving upstairs, consider small changes such as installing compact flourescent light bulbs, with a return-on-investment (ROI) of less than a year and a lifespan of 13 times or more than regular incandescent bulbs.  Teach children to turn off lights and electronics… perhaps a small allowance boost for consistent help from the kids to show that saving energy does make an impact financially as well as environmentally. 

Check around electrical outlets, cut-outs for plumbing and gaps around recessed lighting – on a typicaly winter day, you can often feel a breeze coming from these huge leaks. 

Take advantage of some passive solar around the house – keep blinds and curtains open on south-facing windows, then reverse this in the warmer months.   

This is such a minimal start, but collectively the impact can be huge.  Read on for some more ROI stats, thanks to Green and Save.com:

START SMALL:

Low-flow shower heads:  Cost – $180.  Payback time - .9 years.  Annual savings – $300.  1-year ROI – 111.1%

Heating system tune-up:  Cost – $200.  Payback time – 1.1 years.  Annual savings – $180  1-year ROI – $90%

Programmable thermostat:  Cost – $115.  Payback time - .6 years.  Annual savings – $180 (or more, if you use it well!) 1-year ROI – 156.6%

CFL’s:  Cost – $60.  Payback time - .8 years.  Annual savings – $80

THINK BIG:  Plan for larger upgrades, particularly if you plan on staying in your home:

Energy Star Windows – payback time can average 2.5 years.

Solar Attic Fan – payback in 2.5 years.

High Performance Water Heater – 3.5 years.

Water Filters for the whole house – 3.2 years

High-Efficiency Furnace – 3.8 years, or consider geothermal with a payback time as low as 5-7 years.

Low-Flow Toilets – 6.7 years

Solar Hot Water Heater – 8.9 years

The options are nearly endless, and more and more we hear that these environmentally responsible choices are becoming more appealing, more compelling and less intimidating for our clients once they understand the savings to their bottom line.  Small changes are accessible to nearly all of us, and should be the ONLY choice in the marketplace as far as we’re concerned.  The Energy Information Administration tells us that homes will account for 26% of the energy consumption in the U.S. in 2010, and over half of this comes from fossil fuels.  As of right now, only about .03% of our home energy usage comes from renewable resources.