Weathering Rising Costs With Free Program

Spiking energy costs are prompting many Americans to find ways to conserve energy.

Escalating energy costs have affected low-income Americans the most, says a recent study by the National Energy Assistance Directors’ Association, forcing them to cut staples such as food and medicine.

Fortunately, there is a way that the most vulnerable Americans can mitigate soaring energy costs. Free of charge, the U.S. Department of Energy will help low-income families insulate and weatherize their homes and purchase energy-efficient appliances through a federal effort called the Weatherization Assistance Program. Every county and every Indian tribe is eligible to participate.

By installing energy- and money-saving products–many containing innovations made by American chemistry companies–the federal program on average reduces energy bills by $358 or more per household annually.

Approximately 100,000 low-income households participate every year, and more should take advantage of the program’s benefits. The government’s Oak Ridge National Laboratory found that only 16 percent of eligible households have participated in the weatherization program.

Since 1976, the Department of Energy has provided weatherization services to 5.6 million low-income families. In 2006, 25,574 households in New York participated, 11,964 households in California, 9,855 in Pennsylvania, 5,958 in Missouri and 4,173 households in Texas, to name a few of the states. Many weatherization clients are senior citizens, single parents or disabled.

According to Jack Gerard, president and CEO of the American Chemistry Council, “Insulation and weatherization materials such as vinyl windows help keep homes warm or cool, depending on the season. Refrigerators and other home appliances are also more energy efficient due to materials based on chemistry innovations.”

The extent of the weatherization program varies state to state. But it typically includes a home inspection to assess heat retention, air sealing, insulation to attics and sidewalls, and repair or replacement of heating systems. Some states replace windows and appliances such as refrigerators and stoves if funding permits.

For more information, visit the Energy Website or the American Chemistry Website. (NAPSI)

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The Time To Buy A Home Could Be Now

Waiting for prices to fall before buying the home you want is risky. Market conditions are currently slow but that can change at any moment.

“Homeownership offers immediate benefits and long-term value,” said Lawrence Yun, chief economist with the National Association of Realtors (NAR). “If timing the market is the only thing standing between you and the home of your dreams, perhaps the time is now.”

While it’s never good to rush into anything, the best choices and deals may not last. In most markets, home prices have already stabilized, said Yun, and inventory is abundant, meaning home buyers can now benefit from:

• Lots of choices–Increased inventory means buyers can negotiate better prices and terms.

• Available credit–In addition, President Bush in late July signed the Housing and Economic Recovery Act of 2008 into law. The measure will give first-time homebuyers a tax credit of up to $7,500 and increase loan limits in some areas.

• Low interest rates–Mortgage interest rates remain historically low, making borrowing more affordable for potential homeowners.

Waiting for the market to hit bottom could cause buyers to miss out on the best deals.

“Unfortunately, no bell will sound signaling the end of the downturn and rise of home prices,” said Yun. “By the time you recognize that prices have hit bottom, they are already going up. Getting in the game sooner rather than later raises the odds of finding the home you want.”

Local housing markets may experience temporary price declines in the short term, but over a typical six-year period of homeownership, home values usually rise at a normal, gradual pace.

“Owning a home involves commitment and responsibility, but it’s the best long-term investment consumers can make, for their finances and their future,” said Yun.

A Realtor can explain market conditions and help you take advantage of real estate opportunities. For more information, to search home listings or find a Realtor in your area, visit Realtor.com now.  (NAPSI)

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Anger, Frustration, Fear and Insomnia Great Teachers For Investors

By W. Casey McDonald

In the past two months, I have purchased 7 houses with no money down. All seven are now occupied. I have increased my positive cash flow by about $500 per month plus I have pocketed another $4000 cash into HIP National Trust, also known as my wallet.

Do you want to do what I do? Before you answer, let me tell you about my four teachers that visit me anytime they feel like it. They don’t call to make an appointment. They just appear at all hours of the day or night ready to tirelessly pound away on my happiness.

Please meet anger, frustration, fear and insomnia. What I have learned in my two years of fulltime investing experience is to greet these teachers with the phrase, “Oh Boy!” instead of shouting “Oh Shiitake Mushrooms!!”

If I can learn from my teachers, they won’t eat me up for lunch. If I choose not to learn from my four friends, they will become my four fickle fiends.

Most times these teachers show up one at a time. Like Anger dropping in when I checked the mail today and saw that 25% of my portfolio still has not paid rent. Anger showed up to remind me that I have a company policy to send out three day notices on the sixth of each month.

With the July 4th Holiday and the weekend, I opted to extend that deadline to July 9th. That decision set me up for Anger’s arrival. Next month, and every month thereafter, 3 days will go out on the sixth. That way I won’t have to calculate or adjust my company policy.

Thank you Anger for teaching me that valuable lesson!

But what happens when all four teachers arrive at the same time? Can I still shout, “Oh Boy”? If I don’t look for the lesson, I will be consumed with the horror. Therefore, I choose to learn rather than squirm.

See if this makes you squirm…

Three weeks ago, I began the eviction process on a tenant who, with the help of a public assistance attorney, decided to hold $200 of my rent in escrow. The demand for repairs was generic and rather than let a month or two of confusion devour my profits, I calmly decided to act, via serving a 3 day notice.

Three days later, I get a certified letter from another attorney representing this same tenant who is now suing me for falling down the stairs back in February.

Enter the four teachers.

It took me awhile to learn the lesson from the four teachers while they all were shouting at me at the same time, “You’re ruined!!” “There goes your portfolio!!” “Welcome to hell!” They each took turns whispering and shouting exactly what would get the biggest reaction from me. It was not fun.

This torment lasted well into the night. Then, the lessons became clear. If I was willing to be fair and teachable, and the fact that I was insured, there may be an excellent outcome to this perceived crisis. What if my tenant gets a cash settlement from my insurance company that allows her to buy my house? I may see a windfall as a result of a slip and fall!

In short, I should worry about the stuff I have control over and don’t worry about the things I can do nothing about. If I can make friends with my four teachers and apply their lessons to my business routine, I will increase my ability to see opportunity in the midst of apparent crisis.

Copyright 2008. Contact Casey McDonald – Casey is President of REICNY

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