Real Estate Today 12-3-17

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Sunday, December 3rd

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This is. Real estate today. The number one real estate show. The radio. Welcome to real estate today. Backed by the professional experience of real tours from across America where your most trusted source on the radio for up to date real estate information. Realistic today is the official radio program of the national association of real tool and it's real for members in your neighborhood. Hi there I'm Stephen gas query and we have a great show for you today your green home. A special program all about lowering your home's energy footprint to. And at the same time lowering your utility bills today. We'll talk to the pros about how to do it and why energy efficient homes are among the hottest properties out there in today's market. Your dream home is straight ahead. But first let's go to the realistic today newsroom with Bill Thompson I don't. I Stephen. Could the impending GOP tax reform plan make it even harder for first time buyers to get into the housing market. That's what some real estate professionals fear reports CNBC. Real format donegan read an agent in New Jersey tells CNBC that uncertainty about tax reform is making first timers on the easy. There's concerns about the mortgage interest deduction on this concerns about. Cash to caps on not from the tax rates this concerns that. Because we're such a higher tax area. Lou make a big difference for them there's places here in New Jersey where the taxes are 20000 dollars plus for a house that is not a make him that is not a mega mansion. Also impacting first time buyers of course is the ongoing shortage of homes for sale as well spiraling prices. The government says sales of new single family homes in America spiked in October to their fastest pace in a decade. Sales rose six point 2% to a seasonally adjusted annual rate of 685000. Units in October. That number hasn't been that high in October 2007. A new home sales have now increased three months in the role. The surgeon home prices is relentless. The latest S&P core logic case Shiller home price index rose faster than expected in September. Went home prices nationwide up six point 2% year over year. Economists polled by Reuters had predicted a six point 1% rise. As impede Dow Jones indices managing director David blisters says the index is rising quote at the fastest annual rate since June 2014. Mortgage delinquencies rose again on October 2 consecutive monthly increase and experts are blaming upon the summer hurricanes. But like my financial services first look mortgage monitor for October reveals that the national mortgage delinquency rate rose to four point 44%. That's up by point 94% from September and it's up 2% from a year ago. Black Knight blames the increase largely on past due mortgages in Texas and Florida. Separately the Mortgage Bankers Association reports a seasonally adjusted third quarter delinquency rate of four point 88%. And that is up point 64% from the previous quarter. Coming up on half an hour hard right to big check for Texas. Even Nike hoop thanks bill. And we have the latest information on contract signings for you today. The National Association of Realtors reports that in October. Pending home sales strongly rebounded compared to September. A jump of more than 3%. Norris you know pending home sales represent contracts that have been signed but which have not yet gone to closing. Joining us now with the latest pending home sales report is George were to the managing director of housing and commercial researcher at the national association of real tours. George welcome to real estate today. Thank you still an epitome here. We're glad your here with some good news Forrest George. Pending home sales are up what caused the jump. Well Leon and basically not very strong activity in that the culprit. Which I'm not a lot of people have have held their breath for a little bit opt trigger hurricanes. A ball in Texas and Florida. Wondering what the housing market will do one more impact will be but. It is very obvious that consumers that people out there are very much interest in almost. Depending go to the final contract pretty much showed that strong demand in October. So George what's happening out there I mean. Obviously the buyer demand remains very strong but we also know that the number of homes for sale. Is way down. So how is this possible that the pending home sales numbers are up. Well pending generally tend to priest he don't close to say also. What will not want to do is take a closer look at what happens next month into existing home sales. It is worth noting that new home sales which order are released just a few days ago showed up. I'm very strong increase. From the ball the problem and the price year. So it signals particularly during this slower time of the year. That consumers very much continue to be interest that they want take advantage they'll be little mortgage rates. And wanting to stand in the way trying to hide from the rapidly appreciating god he'll. Casey inventory situation amateur remains very tight across the country. Interest and and you know George this year it seems that week. Get a little good news and then immediately sort of tempered. By a little pastor X and in this case that ask streaks is even though pending home sales were up month the month. They're down compared year. Indeed India and if signaled in large part of the the Morse could do little activity this year. Which apparently I think has been solidly driven by deep inventory situation when you look at this year award looking at inventory. The metal in terms of months' supply. Closing in on four months. And that's nationally UN one needed to look at the you know particularly metro area sometimes. We're gong to want the long term inventory which is extremely tight so due to this. People are simply running out of options the only way out of this situation is released for new construction to accelerate significantly help. That the folks who already on their homes and are ready for creating help whether they're family is growing to want a bigger house golden moment the blast putting homes. Those people need to be able to find him in Trenton new home market so they in turn can turn around until they're home to a lot of the entry little bar of soap. Until that process accelerates. Obviously the situation we are and what tight inventory continues. Now George just to remind our listeners what it means when you say. Four months' supply. That basically is an economic term that means if no new houses came on the market at all. We drawn out in four months correct. Variety exactly solely in the current environment to your point assuming no other holes will be listed on the market. We would drawn discriminatory. In that sense buying an erotic handled marched. On the which W Powell type of market. So George let's take a little tour around the United States how to the different parts of the country do in the latest. Pending home sales report from NAR. So often would've solved because in both in terms of index the nominal value illegal is also hold the highest of all but or major regions but it also had. Consistent gained support from last month a little seven point 2% but also the only region would. Increase from a year ago we're looking at 2%. Seoul clear lead the hurricanes while they had an impact in Texas and Florida didn't impact all the states and forcing strong growth. In places like Georgia the Carolinas absorbed. Then next strongest index value alone is registered in the midwest. Which was up two point 8% from last month I'm only slightly lower than a year and social point 9%. Yeah lest they had declined to bolt from month to month and year over year. And the northeast. Orders in essence a little bit up from last month but blood Donna problem point 9% from the year ago. IC. What George is certainly has been an interesting year for both pending home sales and existing home sales. Because it seems that one month their up the next month third down at. One month there up over a year ago the next month third down over a year ago it's been all over the map. So can you take all these numbers and make any sense out of what kind of year 2017. Will be overall. I think they need to do so you're right it's been necessarily all power eerie in that regard. But looking at the bigger picture or look at the economy. Two daily at the second estimate on the gross domestic product. And it was revised upward from 3% to 3.3 percent in the third quarter wished. In this is told us that from the second quarter and acceleration we were up 2% we an economy picked up the pace even more so in the third quarter. He deployment numbers are up. Wages are. Moderately out so. Would that perspective that we actually expect to existing home sales to be around five point five million this year. Up or point 2% from a year ago. And we expect that number to continue increasing in 2018. As well so I would say that on balance. Going into the policies and we can be fairly upbeat about 27 can despite. All the storms and and all the changes that you mentioned would let it this year. Icing. We'll Georgia sure do appreciate you coming on the show and talking about the latest up numbers. In pending home sales across America thank you. Yeah George for two of the managing director of housing and commercial research. At the national association. Of real tours and. Coming up on realistic today a new law requiring. Sellers to have our home energy audit done. This is to separate inspection where an inspector or comment. And note all of the energy efficient TP bit of a home that's next our special show. Your green home. Real estate today. Connecting you with the real estate professionals. Every week. That's now what our special show your green home. All about you your home's energy footprint and your utility bills. A program dedicated to saving you as much money as possible around the house. And right now we're going to take you to one of the greenest cities in America. Portland Oregon. Where on January 1 2018. A new law goes into effect. That requires all home sellers to produce our home energy audit. So potential buyers know exactly what they're getting into. When they buy the home. Let's talk about that and other energy efficiency issues. With a pro joining us now is Marisa saints real chore with Pirro district properties in Portland. Marisa is the president of the Portland chapter of the women's council of real tours two years running. It is also on the board of directors at the Oregon association of real tours Marisa welcome to realistic today. In my. So Marisa talking to you earlier you told me all about the new law that goes into effect in just about a month. In Portland. Tell us how our people reacting. To this new requirement. The sellers produce a home energy audit. You know they're real or community here the of course want you increased energy efficient in home. We didn't want to have at the heart of be real gay and action and he went ahead and added that it should be I got back. So you know world is getting on board now and I think shall lurched. We're trying to perform all of our client of that coming up in January I don't think Keller really understand what impact to connect tapped. And of course their realtors will be able to help them. Explain. Not only what the impact is going to be but also how to get that energy audit done. Some Marisa how is this all supposed to work. This is a separate inspection where and after a comment and note all of that energy efficient heat because of a home and lie and get an act that out what. The energy usage would be Kurd back home in comparison to similar homes in the area. So we're really you know taking your partly. And of course to improve our house's energy scorer. That's not really an overnight procedure so many of these sellers are going to have to get going very early if they wanna make an impact on their homes energy footprint. Yes if you are wanting to improve that. Quarry it would be ideal arguing going to had a time things like replace windows increase in elation and feeling duct work. The report is also going to get bald sellers and buyers. A list of energy upgrade that would help in the future so saying that. Are maybe the low hanging fruit and then another level up what you do in net typified your range and then after that. Interest staying. What sort of things are at each level for instance what would be the easy fixes. And then what would be some of the longer term energy efficiency solutions. So the easy exit and like increasing insulation and killing ductwork. Longer term and getting on the higher price point he shares are being an energy efficient turnout. Looking at include water heater installing solar panel I think like I. And Marisa you've got to wonder how the sellers. Feel about this if someone's listening their home after the first of the year. In Portland this law will cover them. And they are going to have to pay for this home energy audit and also if they want to get the best possible score. They're going to have to do at least some work on their house. And do you really into looking to see how that plays out because there. It gonna going to affect January 1 on eighteen. So as of right now I would say sellers are not. Super excited to duty and had time. We could see that change next year and buyers start to get a little bit more discriminating I think she'd etch AB this nineteen when he got home. You know had a much lower energy court than you were home street. Marisa do you find it a lot of sellers in your market have. Already. Made energy efficiency improvements to their homes for instance Smart thermostats. You know I would say thank you Smart thermostat. Maybe 20% of the time are some sellers that have occurred at smaller things like that. And in new homes are definitely let the Smart thermostat but I wouldn't say that we eat them overwhelmingly air yet. IC will Marisa we've talked an awful lot about sellers. And the new law that's going to take effect in Portland on the first requiring sellers. To have a home energy audit before they lose their house. But I was wondering if in our next hour realistic today and you could join us again in this time we'll talk about what buyers are looking for. In the field of energy efficiency how's that I would be thanks Marisa Marisa saints real short with pearl district properties in Portland Oregon. The president of the Portland chapter of the women's council of real source. And also a member of the board of directors at the Oregon association. Of reports. Coming up on realistic today. The balance between protecting the environment and protecting private property rights. This impact businesses. All builder and villagers shot for the purchases and consumers. Those homes across the country that's coming up on our special show your green home. But first it's time for ask the millennial. The millennial for the biggest demographic group in America and potentially the biggest group of homeowners ever. So let's talk real estate now with a genuine member of the millennial generation. Joining us is Jayne dollar injure hi Jane. Hi Steven angry to be back I hope you had a great Thanksgiving well I do event. Think he very much and yourself wonderful thank you so what do you have for us today. Even today I wanted to check in on the generation poised to dethrone my own and take over the world generation ZEE. Those plucky teens who will MET in the world by storm. So while each range still hasn't been established for them yet but most agree that the oldest and ears are comfortably college aged. And I'm pretty soon they are going to be the group to watch. In fact according to a study by fast company Jens ears are expects to account for 40%. Of all consumers. By Tony Tony. So there's no time before they can become a generation of home buyers. But the time to think about marketing to them is in now of course these are the people who think the millennial generation is Ole. So that that hurts just a little bit even. But it's just like us millennial. Ginned ears are very tax shabby. So if you're looking to connect with them you're going to have to do so through social media platforms. According to forward to the average gen easier tends to bounce between five greens that one. A Smartphone. TV laptop. Desktop and tablet. So this means that the moment an ad comes up on one screen there eyes are on another. Creating interesting useful and authentic content is the only way to get their attention on you and what your marketing five screams. That's amazing. I know we millennial maxed out victory. Now getting their attention is one thing keeping it is another. Millennial average tension band is hole twelve seconds. Jin jeers clocking in at eight seconds. So if you can't deliver your message and tell them why they should care and how it will help them in under ten seconds. You need to shorten it because Jens peers have other more entertaining stuff going on. That sounds like a tough challenge their urging kids today even if there are in the hospital that he is a Jane dollar and you're a genuine member of the millennial generation thanks for joining us all unrealistic today. Thank you Steven and if any of you have questions that the only money on getting cancer season Nina and after the millennium at the radio down real time. Possible that's the money. Real estate today because. Knowledge is power. That no other special show your green home. A program dedicated to helping you cut back on your energy use edgier utility bills as much of the country heads into the winter months. In this half hour an exclusive interview with the administrator of the United States Environmental Protection Agency. About reaching a balance between protecting the environment and protecting private property that's all that and much more is straight ahead on our special show. Or green home but first let's go to the realistic today newsroom with Bill Thompson cargo by Stephen. Orlando's housing market is getting a significant boost from foreign investors. The Orlando sentinel reports that foreign investors completed more than two billion dollars in residential sales during the yearlong period that ended last July. One of those foreign buyers was Alex card narrow who told the sentinel. One of the main reasons we came to remember is that. We have quite a while he was in the week. You could be to move towards good and I can instead be perfect way to put it right now. The National Association of Realtors reports that across Florida foreign buyers account for more than 20% of home sales revenues. The federal government is providing more than five billion dollars in hurricane relief for the state of Texas. That money from the Department of Housing and Urban Development is aimed at helping the states hard hit areas recover from the damage caused by hurricane Harvey. The storm damaged or destroyed thousands of homes mostly in the greater Houston area. The money now being sent us a grant from Hud's community development block Brett disaster recovery program. Coming up half an hour America's shrinking number of underwater homes keeping it thanks Phil. And now we have a special conversation for you about your property and the environment. As you know the Environmental Protection Agency and the decisions that makes are designed to protect and improve the quality of our environment. And those decisions also affect the real estate you make your home. Striking the right balance between keeping the environment safe and keeping private property rights if is not often easy. And right now we're going to talk with the person responsible. For maintaining that balance all across America. Joining us now in an exclusive interview with realistic today is Scott Pruitt the administrator of the United States Environmental Protection Agency. Administrator Pruitt. Welcome to real estate today. Good to be with you thank you very much an opportunity. There has been. Action on the waters of the United States ruling which could postpone it another two years or at least give the review. Another couple of years to take place. Yet as you know this that this rule that was issued by the previous administration in 2015. Created such a burden and uncertainty. Across the country where it's just basic land use decisions are being made it. There needs to be efforts to address that boasted that address is deficient rule and providing a definition of a large nine states that could detect liquid water actually got a process here and today is. You know continuation of the process to provide certainty to landowners across the country dead. The days CPA eight dictating to homeowners and farmers and ranchers on a puddles or dry creek that feature a federal credit which is impacting their use of their own land are gonna stop until we provided additional relief and certainly today to achieve that. And to ensure that sort across the country to block several months. Excellent. We'll sir let's bring our listeners up to date on what we're talking about in case they don't know about the big issues involving water. From coast to coast in the United States the Obama administration enacted sweeping realignment of water quality regulations. Called the clean water plan also known as the waters of the US rule. There are rule would put many more US water bodies under the jurisdiction. Of the Clean Water Act and the EPA and the corps of engineers. But private property advocates and they're rule would have increased the cost of developing land increased permitting times and cost and hurt. Both economic development and private property rights. So what have you done sir that's going to make that. Easier. On development and private property owners. Well it just further that discussion. Of those regulations say you're referring to account for some estimate that 25%. Said the top try to reduce you know them well that's being built across this country edition tax that businesses. Home builders realtors out for the purchase isn't and consumers. Those homes across the country so that the substantial cost in one bit today is not right as we look at the protection of water and what happened to previous rule. Is that the EPA took a very re imagined approached what do lark and updated to include things like a drug creep that I would Salt Lake City, Utah back in mid to early August. In the state that's had a tradition has been built to Salt Lake City you know as with an army corps it's your representatives. Who look at an internal drainage ditch that that was attached to discredit the should be dealt unique. He sits got that is safe water the United States. That it was not going to be anymore but that's the attitude decreased agency took the took the attitude that the revenue of large do you have what I want to say it is which that the land these decisions. All land decisions many English it would be subject to be heard any processes at the EPA which slows down the process and adds these substantial cost to homeownership. So looking ahead to your tenure as the administrator of the Environmental Protection Agency. Can you say that at the end of your tenure. The nation's environment will be healthier. End the nation's business environment will be healthier as well. Yet already happening. I mean when you look at our focus on cleaning up Superfund sites across the country we can't symbols such language changed last several years and looking at those sites were mediated an attention drawn to those areas to improve better outcomes were investing in water to structure. You can. Hands clean drinking water for folks across the country will focus on air quality standards to make sure that you living communities. Across the country that they can injecting meat to their quality standards have been set mute before the world also sent a message. That that we should stick. Pick winners and losers we should ease regulatory power to advance certain businesses over others that we shouldn't you know have a definition of ordinance states that is consistent with our forty or the clean power plant that was introduced to the door forty added electricity costs in the double digits to consumers across the country so yes we can achieve both we've done that even one example since 1980. We produce those pollutants that regulate under the Clean Air Act by over 65% but would also Goran GDP is a country and we had definitely apologetic about a country we have good about bolster its we're about our economy were about pardon stakeholders across the country to achieve that in natural and get back and his incident. Its got true the administrator of the United States Environmental Protection Agency. We'll continue our conversation would administrator Pruitt in the next hour of realistic today. This is real estate today. 100%. Real estate 100% of its. And we're backward or special show your green home. All about your house the environment and to your utility bills. As you might know energy efficient homes are very sought after by today's homebuyers. After all many of those buyers are spending as much money as they can on the house. And the idea of being able to save our utilities after the purchase. That's a big plus but there's a brand new development in today's realistic market. When that will help your house become a certified. Energy efficient home. It's a new program run by the United States Department of Energy in partnership. With the American society of home inspectors it's called the home energy sport. And recently I spoke about it with Joan Glickman with the United States Department of Energy here's that conversation. Jonah welcome to realistic today thank you so much for having me and we're glad you're here. Joseph it's one of the hottest topics in homes all over America energy efficiency. I know that the US Department of Energy is invested heavily in helping Americans save energy everywhere they can't. But tell us about the Holman energy school. Well it's it's meant to be a really simple wave that either us seller buyer. Can find out how efficient houses so let's say you're a seller. That has done a great job improving the house this gives you credit for when you're selling. Credit in what respect wolf basically what you can do is say unlike the homes of my area that might cost 2000 dollars. To run on a year it doesn't it's gonna cost 12100 or whatever it is. And they will get a better ratings so they score attend the looks really got. So walk us through it if I'm a homeowner wanna sell marketplace or even if I don't speak and how do I get the home energy swore on March proper. Would you call a qualified us plus. And basically they'll walk through your house they'll collect information about your major systems heating cooling hot water and the structure of the house. And that the previous score the score is very objective in the senses running through a legitimate. A highly analyzed tool that we developed over many years so it's very accurate and not give your score and a report. And you get the report and then it's up to the homeowner. To contact contractors. Repair people appliance people. Who can bring you up to the highest level. That's correct and it will give you actually specific. Tailored recommendations for your house so let's say you don't have enough insulation your attic. And it's cost effective to add on it'll tell you that or if you have a furnace or air conditioner. And you're gonna be replacing it sometime soon it will tell you how much you've been saved but buying a more efficient piece of equipment. So why do this I know the US Department of Energy is interested in energy efficiency but why developer program like this junk. We did because we won it in low cost reliable tool. That anybody in the country could get on a house so they know not only how much my house is gonna cost to run. But what they can do to improve that because each 1% of our nation's energy is used in our homes today. Start right that's right a 20% if you wanna do something. To reduce your energy use your best story is really are either through your home or through your choices and transportation. So again upon a consumer. And I wanna do the best job I can energy efficiency how do I find out more. Just go to home energy score dot gov. Ask your realtor ask your moments factor if they offer it and if not on a note and we will be happy to try to help be a. And Joan I certainly appreciate all your help thank you for telling us about the home energy score from the US department of Eric thank you so much I really appreciate the time. Again the home energy score program is a partnership. Between the United States department of energy and the American society of home inspectors. In our next hour we'll hear from the home inspectors. About what they'll do to certify your house. As energy efficient. Coming up on realistic today. How to make money on your utility bills we'll talk about net zero homes next on our special show. Your green home. If you love listening to us talk about real estate and join the conversation. Buying real C today radio on FaceBook we can't wait to hear from you. That's real estate today radio on FaceBook. This is a real estate today is location. Location. And information. Back now and our special show your green home. All about how to use as little energy as possible and save as much money as possible in your very own house. You know plenty of us try to save money on utilities we adjust the temperature a few degrees we turn our flights when they're not being used. We might even adjust the thermostat on hot water heater to bring it down a few degrees. And to bring governor energy bill at the same time. But even though all those efforts will save you money and will help the environment. There's another approach to saving energy that thousands of homeowners are adopting them right now. An approach that takes the idea of saving energy to a whole new level. Because instead of just looking for ways to cut back these homeowners are letting their house do the work by generating its own power. That's right the house generates at least as much power as the homeowner shoots. And these homes are called net zero. There are few minutes ago on the show we talked to Portland Oregon realtor Marisa Sainz who says a growing percentage of home buyers in her market. Warrant a net zero home. So let's take a close up look at what a net zero home it is and what it does. Net zero homes are designed to generate as much energy as the occupants use. The results zero impact on the environment because the house is generating its own power. According to the website zero energy project dot org a net zero home is built from the ground up to be super energy efficient. The website describes the typical med zero home is having. Thicker and more airtight walls in advanced window technologies. To create what they call a super sealed building envelope. The also describe and it's your home as being super insulated as well. And it zero house uses the sun in several ways. For one thing the home is oriented on the locked in order to maximize the suns passive heating capabilities. Huge windows allow sunlight to pour in and heat the interior of the home in the winter. These same windows are covered with shades in the summer to keep the sun's heat I wrote. Also the net zero home features solar panels which generate as much or more electricity than the occupants actually use. The website also says that net zero homes use ultra efficient water heating and that's not at all. In many netzero homes the hot water heater is located as close as possible. To the sinks and showers were about how water shoes. That way when you turn on the hot water it'll have just a short jump from the heater to the faucet. Instead of a long long power that snakes all the way through the house. Those long runs according to beat zero energy project two weeks to a lot of energy. Now by the way a net zero energy home is so airtight. Special ventilation systems have to be used to make sure the interior air stays completely fresh and healthy. In many of those advanced systems use heat pump technology. To pull heat out of the steel here as it leaves the home. Keeping the temperature comfortable while making the air fresh as well. Now speaking of pulling heat out of the year Popular Mechanics Magazine did an article about a net zero home in Seattle. In it the homeowner used to heat pump to pull heat out of the year but then it. They're hot air ran through pipes in the floor keeping the whole house toasty warm. The homeowner are also stored Rainwater in big barrels in used backwater for just about everything except. Drinking and cooking. The results when you combine all the innovative net zero approaches the homeowner took an ad in the solar panels on the roof. Popular mechanics reports he not only paid no money for electricity in a twelve month period. Instead he actually received a credit of more than 230. Dollars. So it was a net zero home the right choice for you maybe maybe not. But they are becoming more popular and easier to find in markets all across the United States. If you'd like more information about net zero homes. You can go to the zero energy project dot org website. There's lots of good information there about how to find or build a net zero home. You can also look up a green certified real tour they'll know about net zero homes also. And if you get one that you have the opportunity to live a comfortable and healthy life. Without paying a single dime for electricity. If you would like him more or realistic today's special show your green home. Either stay tuned or join us online at radio dharma wheel torque. And you can also hear us on the Amazon aka. And from all of us here at realistic today thank you for listening. If you're realtor you can put the entire we'll see TV show on your website. And that's really speaks out on the Radio One high. Percent free to any our members just go to our new web address radio dot realtor and click yeah. It's real estate today. The number one the real estate show. The radio. Welcome back to real estate today. Backed by the professional experience and bring tourists from across America we're most trusted source on the radio for up to date real estate information. Realistic today is the official radio program of the national association. Of real tours and Israel were members in your neighborhood. Hi there I'm Stephen guess where in we had eight great show for you today your green home. All about how to reduce your energy footprint and to your utility bills. By using. In this half hour we'll continue our special conversation. With the administrator of the EPA. About the balance between the environment and private property rights in America. All that and much more is straight ahead on our special show your green home. But first. Let's go to Bill Thompson in the realist into the newsroom I don't I Stephen. As we wait to see what the final version of tax reform looks like one former banking executive says the proposed elimination of some tax benefits to homeowners. Won't affect some people as much as others in fact former Wells Fargo CEO Richard Abbas of which tells CNBC that it's mainly the rich who will feel the pain. The people who really get hurt are the people who can afford it and if you have a million dollar house. Most of those people can afford to pay cash or borrow without interest they don't because the interest rate deduction. You can have tax reform and let you get rid of some of the incentives to. Deductions. And it has to start somewhere. Abbas image also shows the proposed changes could slow down the real estate market for a while. But not long term. The number of seriously underwater properties in America fell by 800000. In the third quarter compared to the second that according to Adam data solutions. The company defines seriously underwater as being where the combined loan amount secured by properties at least 25% higher than the property's estimated market value. By that measure. Some four point six million American homes and I'll seriously underwater and that is 800000 fewer than in the second quarter. One point four million fewer than a year ago the US Supreme Court has declined to hear a California affordable housing dispute. At issue are payments to some developers are required to make to support affordable housing. Other jurisdictions are adopting similar permit policies. The California case was brought by a developer who challenged the affordable housing feed that the city of Los Angeles assess him. Builders argued that the fees violate the constitution's prohibition against taking private property for public use without just compensation. A lower court however sided with the city. Some low and moderate income homebuyers in Michigan are gonna get some extra help buying a home. The Detroit Free Press reports that under a new program from Flagstar bank. Eligible borrowers will have not only a zero down payment but could also get up to 3500 dollars toward closing costs. Those borrowers will get an Irish form 1099 from Flagstar reflecting the banks outlay of down payment and closing costs on their behalf. Meaning be assistance could be taxable depending on the borrower's financial status. The new program from Flagstar hopes to attract more millennial buyers many of whom fight it hard to save for a down payment. Homeownership builds wealth but perhaps not in the way you've assumed it does. A new study published in the journal of housing research concludes that. The price appreciation that many homeowners expect when buying a home may not produce greater results long term than. Say investing in stocks or bonds but while some news outlets reported on the study was gloomy headlines about homeownership doesn't build wealth. The study's authors say ownership is still better than renting for most people because ownership forces people to save. Study co author Ken Johnson realist and economist at Florida Atlantic University says quote. Owning real estate should be sold as a strategy to create a better said the risk adjusted returns rather than. Create wealth alone. Members of the Mortgage Bankers Association are pushing lawmakers in Washington to approve a package of bills that would provide some regulatory relief and additional consumer protections. Its sponsors in the senate says the legislation right sizes regulation for smaller financial institutions. And includes important consumer protections for veterans senior citizens and victims of fraud. And they say it would improve the financial regulatory framework for small banks the girl's cosponsored by nine Republicans nine Democrats and one independent in the senate. Coming up in half an hour be affordability crisis in one fast growing state. Stephen back to you thanks bill. Continuing now what our special show your green home. Would a conversation about the balance between protecting the environment and protecting private property rights across America. In the first hour of today's show we chartered to the administrator of the United States Environmental Protection Agency Scott Pruitt. About how to maintain that balance. Let's continue that conversation. Right now. Your job of course is to protect. The environment of the United States and to preserve it into the future. But also to balance that with the needs of private property owners across America. Can you really find a balance like that or is one always going to take precedence over the other. No I think actually Canada I think the reason you can kinda balances because we in this country have. Enabled him Parker wit stakeholders to work together to achieve those outcomes I think what people miss in today's environment is that. Property owners farmers and ranchers that care about the water they drink and air debris and they want to see. The consumers for future generations and we've adopted aid. Belief the last several years past association told us. Do we had to choose between jobs growth and being captured in department. And I should simply false narrative but so were tried to reorient seeking backed war committed approach of working mistake or working with folks across country states citizens farmers ranchers others to make sure that we achieve good outcomes that are together as opposed did have a serious actually concede that. You know we've seen this in recent years there is a case in Idaho in which a couple named Sackett. Had a piece of property and the EPA came in and said they had to stop building because they were on a wetland. And that's packets pointed to hundreds of homes around them which run the same kind of land which were not impacted. And they said well we need to appeal based on the fact that there's so many people around us on the same land. And the EPA said you have no right of appeal this doesn't do. And they took it to the Supreme Court and they won the Sackett won that case. He had justifiably so indicate that you don't be process is solid and at all with respect to those kinds of decisions when you're facing up to 32000 dollars a day and science it's a chilling effect on the construction of homes and the ability of people to use the land that they purchased. Product property ownership is key. Two that he had seen good stewardship and Barnaby. If you look at countries across the globe look at historically the wealth and cut property ownership of the nation is key and instrumental too good about outcomes for water and air until we as a country ought to recognize. You know the partnership that we had was struck property owners across the country now we worked together to Jeter comes to this case you're trying to and he was an example. Regulatory body Washington DC imposing its will abolish review process. And subverting the very purpose. Of land use ownership of the Katrina was justifiably. Dealt with others recorded in we seek to make sure that that doesn't happen again in the future. And that's your goal is to make sure that things are done differently under your watch. And that are happening. It's a new day to day days usually Gary's estate featuring what each. It. No another big issues is. Building. They're not enough homes for sale for all the buyers out there across America. And the builders wanna get to it and they have a lot of challenges including lending and lumber in labor and lots by. Another is regulation. No one of president Trump's campaign promises was to reduce regulations. And that led to the new policy that for every one regulation that's issued. Agencies must withdraw. Two others that might be older not relevant anymore. Are you able to take hold of that one Ford tube process yourself sir. We beat the ratio would compete at what it is first rolling back. In regulation security agency had not gotten away that you might take it we talked to Larson and say troll it's not just. You know dealing with the decision rule too doesn't it T want to put an overreach Tikrit the uncertainty that led to decisions success that a drug creek bed was at a party and state extradited definitions and trying to work on foreign debt provides objective criteria about which people no were federal jurisdiction to incidents that means is usually an across this country you wanna make sure that you had a federal regulator coming in terms for a spot -- announce they know he should've got a permit your past 100000 dollar because of that. He wants certainty what regulatory certainty that you want regulations to hit the statute. You know after all it's it's great civics but I know people get desperate. The EPA like all the other regulatory bodies are in the executive branch we exist to enforce the law not to make up the law not to interpret the law. A not to legislate that's what congress is supposed to do so congress doesn't do that we can't do a forum. And as surcharge job is to provide regulatory certainty to the people know what's expected that going afforded due at the right way consistently statute. That will create better outcomes and that's sort of this incident. Tell me this before we leave here administrator program. You like this job. It is so exciting each day. To serve the president served country to make a difference and be happy environment and and to get things right but have been broken for a number of years so very thankful to be here it's very consequential and we wake up each day with a lot of work to do that it's thing. Well I want to thank you for appearing on realistic today and talking about the balance between the environment and private property rights across America administrator Pruitt. Thank you. Thank you too sir Scott Pruitt the administrator of the United States Environmental Protection Agency. Coming up unrealistic today. Many of today's buyers are looking for an energy efficient home but what exactly does that mean. Things like solar panels. Were all water catching just. Include water heater. Electric vehicle charging station didn't like that got stories next right here on our special show your dream home. Real estate today. Connecting you with the real estate professional. Back now whether special show your green home. All about your house's energy footprint and your monthly utility bills. In our first hour realistic today we talked about Portland Oregon considered one of the greenest cities in America. And we discovered that sellers here shortly we'll have to do an energy audit before putting their house on the market. But now let's turn to the other side of the settlement table and talk about fighters and what they want. In energy efficiency when they're looking for a home joining us once again it is Marissa Spain's real chore with pearl district properties in Portland. Marisa is the president of the Portland chapter of the women's counsel real tours two years and Guerrero. And is also on the board of directors at the Oregon a search usually every torched. Marisa welcome back to realistic today. It some rest so all the attention towards energy efficiency in Portland is not really surprising because again it's quite often described as one of the greenest cities in America. I would say yeah and courtly and you know generally it's a very energy efficient conscious. A community and shamrock. We have buyers better looking war. Upgrades a lot of the homes are older oh energy efficient windows insulation and like that. Which obviously hoping utility belt. And then we also have and you are a group of buyers here at that looking for a thing like pat at houses in Italy met zero home. Oh battery interest during Telus Marisa. What is the net zero home. And that your home into homes that it only going to use as much energy as a producer it's. So it didn't and let your home what how could be things like solar panels. Rainwater catching a Stanton can put water heater. Electric vehicle tracking stations didn't like that. Interest thing and the buyers in your market are they looking specifically. Four homes like that or is it just they're looking for energy efficiency but there's another group of buyers the wanna bring it up one. Yup I would say there's. That second group of buyers that are wanting to bring it up to the next level. Numerous somethings had a few minutes ago was really interest in about electric car charging stations in homes that are for sale. Do you see a lot of that in Portland. I'm not seen a lot of them and I actually this year purchased an electric car. I know it's not a charger installed at my house what did you want to return. I got a BMW I re nineties so it a little with the B card that you know I've. When I first spotted I was looking into a normal alkaline and throughout the night it would be able to charge and not get me that day and then. Started having you know and ate right didn't have quite an apps like got a level chartered stock at my house which it. Actually you know relatively easy and not that expected and it's great. So you drive your clients around in an all electric car. I bet they love that on important. Yeah activated the huge topic of conversation. Client's blood bet I'd love to talk about it really on guard about that's one thing. In a city that has been described as one of the greenest. Cities in America not only because of its energy conservation attitudes. But also because of the beauty of Portland. Energy efficiency. A big deal a medium deal or not a big deal at all or Uga. You know I think that it's gonna start to become a bigger deal Karen part of wrench or getting a lot of people look at a lot of people here already that. Are really supporting green initiative and sustainability. And so we're seen people do small things as they learn and I think that Portland is going to be a leader publicly each in the green housing initiative. When Marisa I know that your an earth advantage certified broker. Which is an advanced green designation that must really come in handy in Portland so before I let you go let me ask you how's business. I've been good to get put into the booming market with a lot of people living here. An index is skyrocketing here. And one last thing I understand that two years running now you've been the president. Of the Portland chapter of the women's counsel brio tours. How is that going. It yeah and we're just. Ramping up in building our membership and it's just been really great last year I'm excited for turning eighteen. Well Marisa we certainly have covered a lot of ground today and I really appreciate you coming on the show. In talking about energy efficiency. In one of the greenest cities in America. Portland Oregon thank you. Can. Coming up unrealistic today. You'd like to save money on your electric bill so if you have a weekend at home. What's the one thing you can do that we'll have the biggest impact on your monthly power bill. I think his best being in a programmable thermostat would be delighted that you can do this weekend you know for a small investment some of them go for as little as thirty dollars each. You can begin reducing your cooling and your heating costs. That's stories coming up on our special show your green home right keep. On realistic today. But first it's time for real knowledge and it's a special segment on realistic today in which we talked to a realistic professional. Industry expert economist or journalist. About things you need to know about. And today we're talking about getting your house in energy efficient shape. In our first hour we talked about how the United States Department of Energy has partnered up with home inspectors. To produce a whole energy score for the house you own let's talk about it now from the perspective of the home inspectors. Joining us is frank lashed the executive director of ashy the American society of home inspectors. I asked frank what role the home inspector place in the department of energy's home energy score program. Steve we're considered a partner. In in order for a home inspector to be long to this program they have to belong to a partner. And so our members are partners. And what we do lose we go through a training process with them debts put gun. By the deal we sold these learn how to do these scores are called energy scores and an issue promotes its. In our members like doing it and it's a week for clients save money on the home energy. So if you take an inspector who has this training. And they go through our house and they include the energy stored in their inspection what is different. From a standard home and Spartan looking good question a standard home inspection finds defects in a house typically. And dark and writes in the new report maybe takes photographs. The Department of Energy looks at a different set of criteria. What is the energy efficiency of the furnace. What about the windows what about the insulation. Things at home inspectors me right down but that's not really the crux of home inspection. We won north differs is working properly we're as the Department of Energy wants to know. How well is it working as far as energy efficiency goals. Is there an extra cost for this for him in their risk any depends on the home inspector but in the long run the client is gonna make out because he can save cost on energy. So what will this mean to a dollar franc. Will a seller can actually do this ahead of time if they want to and they can Scholl that this house was actually inspected and it's got to score. And they can save look our house is very efficient. And then they can still have a home inspection and maybe we'll find out if the roof needs to be prepared for something but the house deficiencies with the main thing yes. How about a buyer how does this help or barter well the buyer can actually get their mortgage. Increased by about 2%. If the scores high enough. Did means the government knows you mortgage payment can be higher because you're saving money on energy costs. Frank I really appreciate you telling us about this and telling us about how Ashley gets involved and you're welcome Steve anytime. This is really easy today. All real estate all the time. And we are back when our special show your green home. All about how to maximize every dollar you spend on energy. And also how not to waste any money and you try to keep comfortable this coming winter and throughout the years. Coming up we'll talk to a major utility about how to reduce your energy bill as low as possible. And also we'll solar panels power your home if the grid goes down we'll ask approach. All that and much more is straight ahead on our special show your green home but first. Let's stricken with Bill Thompson the realistic today newsroom Carville I Stevens leaders in southern Utah are trying to come up with a plan to create more affordable housing. A fast growing population is pushing the limits official site and they're bracing for an even greater surge of people in the next few years. Washington County you talk commissioner Victor Iverson tell Salt Lake city's KUTV. Order fur a contract kernel developers have to make a certain price trends on the home they need to build a certain time. The price. Modeled the home we don't wanna turn into a Park City or in Aspen Colorado where terror you know one of those zip codes where you have to be a millionaire to live here. According to the Washington Kelli affordable housing plan. The area has over 900 units for low income families but the county is behind a lot. Tell us construction starts continue to post gains across America. According to analysis of the latest census data by the national association of homebuilders. Townhouse starts over the most recent four quarters totaled 98000. That's up 4% from the previous four quarters. And the third quarter town hall start were up 18% from the same period last year. The NI HP says after a soft patch the market share of new townhouses is growing again. Using a one year moving average shares now just under 12% of all single family homes. The Philadelphia area's housing market continued to strengthen in October according to latest report from Berkshire Hathaway home services fox and roach. But the report also says low inventory is still ahead wind. The report says the number of properties sold in the twelve county metro region continue to yearlong upward trend in October. But home sales in Chester and Montgomery counties Pennsylvania were down from a year ago so we're sales into neighboring New Jersey counties. Berkshire Hathaway home services blames it on the low inventory. Housing affordability. Is a national problem not just in cities but also in rural areas. Socialism new study released by Carson school of public policy at the University of New Hampshire. The study's authors found that rural areas especially in places popular with retirees and second homeowners. Don't have enough affordable and adequate housing for local working families. And land use regulations and those often scenic areas are limiting options for developing new affordable housing. Steve and I couldn't. Thanks bill. Continuing our special show your green home. All about you do your house and your energy footprint. There are so many ways homeowners can reduce that footprint and at the same time reduce their energy costs as well. So right now let's talk about what you can do this weekend around your house to cart your utility bill as low as possible. And of course the goal is to still stay comfortable this coming winter and all year long. Joining us now is Mitch gross with ever source energy in Connecticut. Ever sources new England's largest electric utilities serving more than three million customers. Mitch great to have you back gone realistic today. We're glad your here so Mitch. This weekend what's the number one thing I can do in my house that will save me the most. Are my power ago. An investment in a programmable thermostat we estimate that you can say around old sixteen percentage on some of your energy cost with a programmable thermostat. You can program them from your car from your laptop your Catholic your cellphone. When you program them program the much Lois is comfortable it in your home when your home and awake and lower when initially finger away from home. That's a great way to start taking money right off the top it's worth the investment. Now this next one's expensive but I've heard that new appliances. Use much less electricity. There appliances that are 1015. Or twenty years Ole. They will make an impact on your energy bill as well. If you were to take a look at what you're consuming right now with your older age and refrigerator and freezer vs the new models you'll definitely sick. Image in the past ten years as we all know they're been big changes in light balls. Will the new LED bolts helped me save money around the house. LED ECB money. They save energy they are so much more efficient than what's considered. Now the all CF bells and of course the ancient incandescent. So go with the only piece and if you're using gamers around your house check BL EDs to make sure those LEDs are compatible. Which are dimmer switches. Mitch what about that heating and air conditioning system within your house and how water heater the big big items like that what can I do is a homeowner. To make sure that I'm getting the best value out of votes. Make sure they have been surfaced regularly so they are operating efficiently. Now a great time to inspect the heating system to make sure to running right now do you clean the filter when's the last time that was done have you had it maintained that he had a circus represented to come in and check it. To make sure to burning efficiently. That there's not a possible issue of carbon dioxide build up in your machines homeowners keep to take the time and remember. These items need surfacing regularly they will last longer or they won't run more efficiently and if they're running efficiently at that helps save you energy. Mitch what about what they call passive solar heating. Which is a fancy term for just opening the curtains and letting the sun pouring in on a cold day does that really work to heat your home. Yes yes it does we recommend to our customers. Open those south side windows during those bright sunny days during the winter let the sun pouring and during those daylight hours we do it at my house and typically around 2 or 3 o'clock on the south side of my house when the sun begins to. Make it to exist for the day we close the blinds to retain heat it absolutely does work and help warm up the house. What else can our listeners do this weekend. That would have a big impact on their electric bill. Well I think it's time to break out that caulking gun and walk around and and reduce some of those air leaks around your house you know reducing air leaks could cut about 10%. From an average household monthly energy bill. And you know what you're gonna run that fireplace this week and make sure to close it when you're done if there's a lot of energy bill right up to Germany otherwise. That is such great advice. Mitch I really appreciate you being on the show today and help bring our listeners and made. Reduce our power bill as much as possible thank you you are very welcome Stephen. Mitch gross with ever source energy in Connecticut. Ever sources doing what's largest electric utility serving more than three million customers. Coming up on realistic today if the power goes down at your house. Will those solar panels are your roof to keep the power flowing. There is missing information out there that if you have solar panels on your home and you have a power cuts that you will still be able to have Howard to your home. That's next on our special show your green home. This is really safe today because you're home nineteen. Your biggest investment. And we're back with our special show your green homes. It's all about reducing the energy footprint of your house and lowering your utility bills at the same time. And right now we're going to talk about one of the most popular ways to reduce your electric bill. Solar power. It's popular but misunderstood. By many people. People who believe that if they have solar and the power goes out in their neighborhood and they will still have power well is that true. Or not let's ask an expert recently I spoke with Arlene old Droid broker owner with old Droid realty in Mission Viejo, California. And a designated green agent Esther about solar fact vs solar fiction. So out. I can talk forever about solar and digested a program on that and yes there is missing information out there that it's you know solar panels on your home and you have the power cut that you will still be able to have power to your home. Only give a battery back up system will you still have power when the power of those how. So you're not independents. You're not independent of the grids. When your power goes out if you solar panels on your house so that's what it does not what does it to. Really the only insular pals do is reduce your energy golf. But you have to realize that you are paying for that and hot streak yet to pay for the house you have to make sure that the payment that you are making. Offset the reduction of energy bill and then you divide that by how many years you're paying off those solar panels to make sure that's a good return on your investment. And from a green energy standpoint from a green designees standpoint. Solar panels are the last being used to do when it comes to meet your house more energy efficient real yes. Because when you walk into a room that is hot in the summer time. Solar panels won't six bats. It's still going to be hat in the summertime I'll you're doing is running your air conditioning longer because you feel like you're saving energy. So what you want to do from greens standpoint is first in an energy out at any time someone talks to you about getting solar panels on your home. Give an energy audit first it's like when you go to doctor music hit ducks something's wrong with neat. He's gonna give UCX rays did you let pressure taken polls may be to the blue blood test that's had it X rays to nanny what's wrong you. So the energy audit to the same seeing signs of what's wrong with your house in this specific items. To do for home improvements. Tell me. You have a nickname. I do have a nickname tell us it's green I lean because it. Well cry because I'm addicted to saving the environment one house at a time. And I drove a 1985. Mercedes-Benz diesel. That we converted to run and waste vegetable well that was my daily driver I drove the fraud my real estate gigs I loved it and when I tell my clients about it. They loved to do is remember I live in south Orange County California and I called Atlanta Botox and at least. It adds. So true I mean you got fashion island Marriott outlets plus a Laguna Beach Newport Beach you know you can imagine the lifestyle that we had down there so when I show up. It in 1980 size Mercedes-Benz diesel unusable street trip is you know Latin Iraq's guerrilla city tip but then explained to them this is a veggie mobile runs on waste vegetable oil and when I stay waste vegetable well I'm talking Weston tacking like what gives leftover from the French fried taped we Wade's. By that or we would get it for free and we would filter at an hour arrives. And then we go in our tank. Eileen dole Droid broker or with old George realty in Mission Viejo, California. And a designated green agent. Coming up next unrealistic today what you'll find out if you get a home energy audit at your house. That's next in our special show your green home. If you're hungry for real estate information follow real estate today on Twitter. Shares segments listened to them again and be the first to know what's on next weeks ago. Just search real estate today on Twitter. Real estate today. Because you love real estate. And we are back with our special show your green home. All about your house the energy it uses and the money you pay for all that power. Where do you live in a cold climate and you have to crank up the heat or eleven a warm what were your usual air conditioner most of the time. You probably know to the penny just how much you pay every month for utility bills. Well let's talk now about doing more than. Turning off your lights and not being used in more than knocking the furnace down just a few degrees. Let's talk about making a huge impact on your bills. Both now in for years to come. And we're talking about doing a home energy audit. Our home energy audit looks at all the ways energy is being wasted in your house in all the ways you can stop the waste. And that'll help you cut those bills in a big way quickly. You can do it a couple of different ways for one thing you can do yourself. If you wanna try that you can go to energy dot gov for some great ideas. First up air flow look for air leaks or drafts rendered doors and windows. Also proper ventilation. You wanna make sure that even though here's not escaping your house isn't sealed up so tight you're allowing dangerous fumes to stay inside. The DIY version of home energy audit also includes examining. Insulation. In the attic in the basement crawl space in in the walls of your home. And finally you'll examine your heating and air conditioning system to make shorts are operating as efficiently. As possible. North all that's sounds like too much work or if you want the best possible energy assessment for your house. You can also hire a pro. A professional energy audit can cost three to 500 dollars. Richard offering get them for much less money when their subsidized. Or your local government or your utility company. In fact some utility companies do them for free. And as we reported on today's show. The US Department of Energy has come up with a its own program for home energy audits called the home energy score. They're partnering up with home inspectors. To help you get an accurate assessment of how much energy is being wasted. But no matter how you get it done here's what you can expect. A professional comes to your house for better power and looks or your insulation. You're air leakage your windows stores lighting and appliances. And then check your water heater and your heating and air conditioning system. At the end of that you'll get a report telling you what they found and giving you advice on how to reduce your energy use. They'll also install some energy saving products if you want like water heater tank wraps and power strips. Sometimes they'll do more comprehensive additional test. What a blower door test in a Thermo graphics scan of your house to see where the energy leaks war. A blower door test seals and exterior door and connects to a large calibrated fan. When the fans turned on the energy auditor will measure the air pressure to determine how severe of the nearly tar. While a fan elevates the air pressure in your home. A therm a graphics can have your house will produce pictures that can also show where and how severe. The air leaks exist. That might seem like a lot of work for just a few leaks around a few windows but you know those leaks they add up. In fact energy experts say. A lot of small leaks can be the equivalent of leaving one window wide open in your house in the middle of winter. Our comprehensive audit like that can cost up to 400 dollars but again some utilities will offer them at a reduced cost. Now if your interest did give your electric company or call and see what they offer. Know once your home energy audit is done you'll know all the facts you'll know what it's going to take to really cut down those utility bills. It might be that some quick fixes are all you need. Where you might decide to invest in new windows or more insulation. But remember even though saving energy can cost money up front. Your utility bills will be much lower for many many years. As we like to say Imus show knowledge is power in this case knowledge about power and your power bill. Can help you live a more efficient and economical life in this wonderful place. You call home. Coming up next week on realistic today the year ahead. We'll talk to real estate professionals and industry experts about what 2018. Will bring to you. Whether you own real estate where you kind of foreign or sell properties in the coming year. From tax reform to mortgage interest rates. We'll have at all the year ahead it's next week right here on realistic today. And remember you can always listen online at radio dart real tour. Or on your Amazon Erica. And from all of us here at realistic today thank you for listening. If you're realtor you can put the entire realistic today's show on your website. Then that's a real steep show on the Radio One 100%. Free to any our members just go to our new web address. Radio dot realtors and play.