Tim Hoffmann & Laurie Nadeau's Blog

Green vs. Greener Building Practices

2008-06-27T13:02:12Z

HVAC: Energy efficiency can mean a right-sized HVAC unit or a geothermal system.

Green - Heating & Cooling system correct sizing for the size of the home.

Greener - Geothermal Pump. Uses the ground temperature to regulate the temperature of your home.

Structural Framing: Using engineered lumber and OVE cuts the amount of wood required for a house.

Green - OVE or Stacked Framing. Optimum Value Engineering and is a collection of framing methods that use less lumber than conventional framing. The stack framing method lines up all the load paths in the load bearing walls from the bottom floor to the roof framing. Both methods use less lumber.

Greener - Engineered Studs. These use less wood as they are generally from waste materials and they are straighter and do not have knots.

Insulation: Correct installation is critical no matter what kind of insulation is used.

Green - Correct installation of Fiberglass Batt Insulation

Greener - Cellulose. Cellulose insulation is produced using recycled waste materials, making it a good option for environmentally conscious consumers.

Solar: Attention to design and site selection are essential for efficient solar energy.

Green- House orientation for passive solar design. Proper design will allow you have heat gain when you want it (winter) and less heat gain when you don't want it (summer).

Greener - Solar panels. There are many options for solar power. You can use panels or roof shingles to convert to electricity or hot water. The sun is free and should be used whenever possible.

Flooring: Bamboo and finished concrete both mean sustainability and durability.

Green - Concrete slab. These are great and can be finished in many different colors.

Greener - Bamboo. Bamboo is great for the environment (renewable), durable and it looks great.

Plumbing: Whether the water heater has a tank or is tankless, it can be green.

Green - Correct sizing of water heater. Eliminate waste with proper sizing. Proper sizing generally saves you money and is more efficient.

Greener - Tankless water heater. Most efficient because it heats the water on demand rather than heating and storing many gallons of hot water in a tank.

A/C for Less

2008-06-19T09:50:58Z

For a less environmentally destructive way than air-conditioning to stay comfortable in the heat, choose a portable or ceiling fan. Fans use 90% less energy than central air, and often make rooms feel seven to ten degrees cooler.

We all know that central air feels great, and, yes, it can help save the lives of the elderly or frail. But, it is also extremely energy intensive, and still typically relies on ozone-damaging fluorocarbons. Central air-conditioning is also prohibitively expensive for many who live in old structures (Old Town) or who are on tight budgets.

The best choice is an Energy Star rated fan. Energy Star rated fans are about 50 percent more efficient than conventional models and will save you $15 to $20 per year on your utility bills.

Most ceiling fans can also be run in reverse when it's cold, pushing warm air down from high spaces. It is important to make sure you have them set properly or you will miss the true benefits they provide in both cost savings and comfort.

And, with everything electric, don't forget to turn your fans off when you aren't using them. And with the case of portable fans unplug them to avoid using phantom loads. "Phantom loads", ghost loads are the devices that constantly consume small amounts of electricity 24 hours a day-even when they're not actually doing anything useful just because they are plugged in. Though each device doesn't use much, when they all add up it makes a big difference.

10 Tips for Living Greener

2008-06-12T11:41:14Z

One: Ditch the Paper Towels!
Instead, pick up machine washable micro-fiber cloth towels to use all around the house. Thousands of tiny little fibers literally grip and hold onto the dirt and bacteria.

Two: Java Scrub
Don't toss your used coffee grinds into the trash. First, spoon some warm grinds into your hands and mix it with your favorite hand soap and scrub away. The grinds will exfoliate dead skin off your hands and clean your hands. Scatter the remaining grinds around your evergreen shrubs and trees - it's an energizing fertilizer.

Three: Soy Candles
When burning candles around the house, be sure to choose clean-burning soy candles. They burn longer than paraffin candles, so you get more soothing scents for your cents. Place unlit soy candles in your drawer for a gentle scent.

Four: Dodge the Drafts
Stop drafts at windows and doors. Place a draft dodger - a long fabric tube - along the edges where cold seeps inside to stop it in its tracks. For smaller windows, you can make your own dodger. Just fill a large sock, such as an athletic sock, with pebbles and tie a knot at the end.

Five: Be Sparing With the Paint
When painting walls, make sure you buy just enough paint. Ask the paint specialist to help you determine how much you really need. This will help prevent buying too much paint and cut down on waste.

Six: Put Your Computer to Sleep
Remove the screen saver off your computer, when they are activated, the computer is still running on full power. Instead, put your computer in "sleep" or "standby" mode, so the stroke of a key will wake up your PC right away. Do not leave your computers on all night long. At work, make it a corporate policy to have all computers shut down at the end of the work day.

Seven: Recycle Your Cell Phone
Bring your old cell phones to a Recycle Utah or other places that collect them, like Radio Shack, Best Buy and The Home Depot. They will be recycled into other metal products.

Eight: Bring on the Bandanas
Try bandanas instead of paper napkins when entertaining. They're colorful, reusable, inexpensive and a fun way to dress up a table. If you must use paper napkins, look for recycled paper versions.

Nine: Trap Your Trash
most trash strewn on the street is from a gust of wind. Ill-fitting trash can lids (or overflowing cans of debris) are the problem. Buy a trash can with a tight-fitting lid. Most importantly, recycle whenever you can.

Ten: Make Donations
If you're trying to find a new home for a piece of furniture, a bag of clothes, an old chandelier or anything that's hard to recycle, give FreeCycle a try. This free website connects people with things to give away with people who need those things. It's organized by ZIP codes, so it will put you into contact with groups in your community. No money can ever exchange hands and everything has to be totally free. You can learn more at www.freecycle.org.

World's Most Expensive Real Estate Markets

2008-06-05T13:27:12Z

It still amazes me that homes and condos in my area sell for as much as $1200 per square foot. That was unheard of in Waukesha Wisconsin where I spent the first 25 years of my life. Then I came across this article about expensive real estate...$6000 per square foot! Maybe this is where more of our big cities are headed.

London - $6,191 per square foot.

Monaco - $5,888 per square foot.

St. Jean Cap Ferrat (France) - $5,853 per square foot

Courchevel (France) - $4,710 per square foot

Hong Kong - $4,507 per square foot

Manhattan - $4,320 per square foot

Cortina (Italy) - $3,028 per square foot

Portofino (Italy) - $2,692 per square foot

Singapore - $2,423 per square foot

Tokyo - $2,334 per square foot

Let's put this into perspective. Here's what $1.5 million dollars will get you in each of these:

London - 242 square foot studio

Monaco - 254 square foot studio

St. Jean Cap Ferrat (France) - 255 square foot studio

Courchevel (France) - 318 square foot studio

Hong Kong - 332 square foot studio

Manhattan - 347 square foot studio

Cortina (Italy) - 495 square foot studio

Portofino (Italy) - 557 square foot 1 bed

Singapore - 619 square foot 1 bed

Tokyo - 642 square foot 1 bed

What is Renewable Energy and How Can We All Benefit From It?

2008-06-04T13:39:36Z

I have found that many of my friends, family, neighbors and other community members know very little about renewable energy and how it can truly benefit all of us. With the cost of utilities rapidly rising and our air quality decreasing, there is an increased amount of concern and more of us want to learn how we can make changes to improve these issues. Besides simple lifestyle changes, we can implement renewable energy sources. Our Federal Government has been studying and working on many programs and options for years and here is what I have found on Solar, Wind and Geothermal energy.

Solar technologies provide energy for heating, cooling, lighting and hot water without any direct emissions, thus having a great potential for improving our air quality.

The U.S. Department of Energy (DOE) selected 13 cities to help lay the foundation for a solar energy market that can serve as a model for cities around the nation. Salt Lake was one of the chosen and the goal of Solar Salt Lake is to develop a fully-scoped city and county-level implementation plan that will have the potential to significantly impact the development of solar energy in the state of Utah.

The DOE announced its plans to use wind energy to produce 20% of U.S. electricity by 2030; based on a feasibility study report they recently completed. Wind is the second-fastest growing source of energy, next to natural gas. In 2007, the nation's wind energy capacity grew by more than 40%.

Geothermal is another great source that is underutilized mostly because of costs and installation barriers, however; it does serve its purpose well in many commercial applications and is becoming more popular in residential homes. Geothermal energy prevents the emissions of greenhouse gases and air pollutants, helping to improve Utah's air quality.

A friend of mine, Danny Small of The Energy Store says this: "Renewable energy technologies like geothermal, photovoltaics, solar hot water, wind and hydro power systems, are an important and growing component of energy strategy for the built environment. Along with conservation and efficient use of energy, sustainable harvesting of energy through renewable sources completes the energy management picture. Although these technologies have historically suffered from high cost and long payback periods, these aspects are improving rapidly, with the help of government incentives and market demand."

For those of you wanting to learn more about renewable energy, there is a class being put on by Build Green Utah on June 20 at the Salt Lake Library. Call Sarah at 435-645-9363 for more information and to get registered, space is limited.

Should we take this listing?

2008-06-03T19:37:22Z

My partner and have been working hard to be the listing agents for a development in town and recently it looks like we will be given the opportunity to list the project. This is familiar territory as we had done the same thing in late fall of 2007 on another development. We ended up turning down that development and cutting our losses as we could not come to an agreement or even relatively close to an agreement on the listing price. They were also unwilling to waver on their quarterly quotas or to pay for the marketing, however, the commission percent was large. We seem to have made the right decision as they are on a second brokerage already with no sales to the general public, just to their investor friends.

This current development is almost the same. We feel it is overpriced and the developer would rather sit and ride out the market than lower the price. The difference here is that we think they will pay the marketing, their quotas are far more realistic and they will sign a long contract, but they are about 20% overpriced. Total value of the project at its current list price is about $35,000,000.

My questions are simple:

1. Would you take this listing?

2. Does the risk of having your name attached to a dead project outweigh the possible gain if the market unforeseeably accepts the project?

Ways to Save Gas and Reduce Global Warming

2008-05-30T09:07:37Z

Use public transportation. Ride the bus (after all, it is free in Park City and the buses use bio-diesel), ride your bike or walk.
Carpool. Check out www.erideshare.com to find someone to share a ride with if you can't find anyone.

Telecommute. Work from home every chance you get.
Combine errands and walk between stops. Go to the grocery store and the post office in one trip rather than two. Use the pharmacy and bank inside the grocery stores when possible. Walk to other stores rather than re-parking.
Slow it down. The faster you drive, the faster you burn gas. Avoid rapid acceleration and use cruise control when you are able.

Keep your tires properly inflated. This actually gets you better gas mileage. Check your tires at least once per month or at each oil change.
Keep it light. Remove any un-needed weight from the car. You will get best gas mileage when your car is light and aerodynamic. Remove ski and bike racks you're not using, they tend to create drag.
Keep your car tuned, change your oil and change your air filter frequently.
Park in the shade. Sitting in the hot sun causes gas to evaporate out of your tank. Parking in the shade also keeps it cooler inside, and you will need less A/C to cool off.

If you're in the market for car, please consider getting a low- or no-emissions vehicle. A hybrid can be a good option, or you can get a diesel and then use biodiesel fuel.

Consider using a motorcycle or a scooter instead of a car.They are much cheaper than cars and they often get 70 mpg or better.

Natural Gas Cars - CNG Fuel - Almost Driving For Free

2008-05-29T16:52:24Z

How many people out there know about natural gas cars? Of those, how many know about the environmental benefits, and the bank account benefits? Everybody might find this interesting.

While the national average price of gasoline is now $3.60, some residents of Utah are happily filling up on compressed natural gas (CNG) at $0.63 per gallon and in California it’s $2.50 per gallon. Utah has the country’s lowest price for CNG, which has understandably caused a surge in demand for vehicles running on a fuel that one man described as “practically free.”

So far, CNG vehicles haven’t made a blip on the radar screen, even though the group Natural Gas Vehicles for America (NGVA) estimates there are 150,000 NGVs on U.S. roads today and over 5 million worldwide. A good friend of mine here has the Natural Gas Civc with a 200 mile tank and brags about few dollars he spends filling it up. We pretty much take his car now when we go anywhere and it seems to have the same power as a the gas version.

There are about 1500 CNG refueling stations in the US, which is about the same number of commercial stations offering E85 ethanol blends. Utah has a total of 91 CNG filling stations, 20 of which are open to the public, the rest are for fleet vehicles.

The NGVA also says there are 50 different manufacturers producing 150 models of light, medium and heavy-duty vehicles and engines that run on compressed natural gas. Unfortunately, there’s only one for sale to individuals, Honda’s Civic GX, and it’s only offered in California and New York, so you have to travel if you want to get one. It’s also possible to convert a used vehicle to run on natural gas, and for either used or new vehicles, the tax incentives are substantial. Combining state and federal tax credits in Utah can almost completely offset the approximately $7,000 difference in price between regular and CNG-ready vehicles.

One of the major benefits of using compressed natural gas is a significant reduction in emissions when compared to gasoline. Compressed natural gas is touted as the “cleanest burning” alternative fuel available, it reduces tailpipe emissions of different pollutants by 35-97%. Not quite as dramatic is the reduction in net greenhouse-gas emissions, which is about the same as corn-grain ethanol at about a 20% reduction over gasoline.

There is the question of natural gas supply. According to the NGVA, worldwide supply of natural gas is almost infinite, assuming we can tap into methane hydrate ice formations at the bottom of the arctic oceans. If we can’t figure that out, we can just drill more…HAHAHA. Or we can just look at our landfills as they capture bio-methane from the natural breakdown of plant materials. The NGVA says that waste biomass could supply enough natural gas for about 11 millions natural gas vehicles.

I don't know about you guys, but I am seriously considering converting my car! Anything to help the environment and save a little money in this slow period.

Green Building is Likely to Benifit a Home's Sale-ability

2008-05-21T12:04:44Z

The housing market remains stagnant across most of the country, and analysts are worried about rising interest rates as well as widespread subprime mortgage lending. Some observers are beginning to ask if a beacon of light may be found in the burgeoning field of green building.

In green construction, designers and builders commit to minimizing waste, improving a building's efficiency in terms of energy and water use, using sustainable or recycled products, and protecting indoor air quality. Green features may help homeowners stand out from the competition. People definitely value energy efficiency, especially as utility costs continue to go up, it becomes greater value.

More than 97,000 homes have been built and certified by green building programs around the country since the mid-1990s, representing a 50 percent increase from the NAHB's 2004 survey. Further, more than half of NAHB's 235,000 members (representing about 80 percent of homebuilders) reported that they expect to be employing at least some green building practices by the end of the year.

A number of realtors around the country have reported increasing buyer requests for green homes. Many MLS's are adding search options to include green features which is driven by consumer demand.

Many new developments are now including green products and building as a standard feature in order to build a better and more marketable home. Many builders are building with green features and don't even realize they are.

Owners of green homes tend to be happier than when they lived in more conventional built homes. Another interesting fact is that almost 40 percent of Americans who recently renovated their homes did so with some green products.

Now is the time to invest in energy efficiency and green improvements around your house. Start with little things like changing your lightbulbs to CFL's and using reusable grocery bags. Then, gradually add things like tankless water heaters, green flooring, low or no VOC paints and so forth.

Happy Greening!

Green-Building Myths

2008-05-14T10:37:12Z

Green-Building Myths

Hundreds of studies have proven the financial advantages of green buildings from reduced construction costs to lower operating costs. Green building is proven effective.

Myth #1: Green building is too expensive.
A lot of the high-profile green projects that get builders' attention are very high-end, and that's one reason this myth is still around. The fact is, there are plenty of strategies for inexpensive green building, from right-sizing the structure to optimal value engineering to reducing waste.

Myth #2: Green building is all about material selection.
Many think of green building as using "green materials" such as those with recycled content, low embodied energy, no VOCs, etc. While these are an important part of constructing a green building, it is still a small part of the big picture. Site selection, the building envelope and energy performance are very important as well.

Myth #3: Green building products don't work as well.
New green products work as well if not better than traditional products, they are made/built to last much longer than products of the past.

Myth #4: Green Products are hard to find.
Some green products are not manufactured nationwide and can be hard to find/purchase in some areas. More and more, stores like The Home Depot and Lowe's are carrying more ‘eco' friendly lines of many products. The number of green products and systems that are available has grown exponentially over the past few years.

Myth #5: Green homes are "weird" or "ugly."
You don't have to build a dome-home, yurt or a home built out of straw, and, have a farm of solar panels or wind mill towers to be green. Many of today's green homes look like other "typical" homes. And if you do want solar power, there are many ways to integrate solar panels that are attractive and effective.

Myth #6: Building a green home is too complicated.
It can be complicated if you are using a contractor that doesn't understand the fundamentals of green building. Make sure to use a contractor that knows and has experience in building green. You should also educate yourself as much as possible so you understand the fundamentals making it less complicated for you personally.

Myth #7: To get into green building, you have to sign up for some sort of program or third-party certification.
Builders don't have to get your home certified to build green. These programs like LEED and Build Green Utah provide a checklist of items that score points toward the certification process. The homes can be built to the same standards without the certification. Some believe the certificate will increase the homes overall value. Green building is really about the builder and homeowner working together to make better choices.

Myth #8: It's an all-or-nothing proposition.
There are plenty of builders and homeowners using green technologies and techniques and they may not even know it. There are so many aspects to a home, and with many of the latest improvements in building, many of these new products and practices are actually green and energy efficient without the builder and homeowner making a conscious decision to build it green.

Park City Becomes EPA Green Powered Community

2008-04-16T15:06:18Z

With the Green Movement gaining more and more speed, it's great to live in a community that's green conscious citizens are taking the necessary steps to lessen our burden on the environment. The following was taken from press-release earlier today from the city of Park City.

Park City, Utah; April 16, 2007 -- The community of Park City has been recognized by the U.S. Environmental Protection Agency (EPA) as an EPA Green Power Community for purchasing 3.7 percent of its electricity use community-wide from green power resources. The world-renowned resort town is now Utah's second EPA Green Power Community and the largest in the state. EPA extends the honor to communities that show their environmental commitment by voluntarily purchasing green power in amounts that meet or exceed EPA purchase requirements.

Simultaneously, city officials announced that they surpassed the 5 percent Green Power Challenge target announced on November 12, 2003. More than 9.4 percent of Park City residents and businesses are now purchasing Blue Sky Renewable Energy. The Park City Council partnered with the Utah Clean Energy Alliance's Utah Wind Power Campaign and Rocky Mountain Power to increase community participation in Rocky Mountain Power's Blue Sky® renewable energy program. The Community's Clean Energy Challenge still continues with a new goal of reaching 15 percent of Park City residents and businesses purchasing Blue Sky Renewable Energy.

The businesses and residents are collectively purchasing nearly 8.7 million kilowatt-hours (kWh) of Blue Sky clean energy annually, which accounts for more than 3.7 percent of the total community electricity load. Based on national average emissions rates, the U.S. EPA estimates that Park City's community-wide green power purchase of nearly 8.7 million kWhs is equivalent to reducing the same amount of CO2 emissions associated with nearly 1,200 passenger cars annually. This purchase is also the same amount of electricity needed to power more than 700 average American households each year.

"I am proud to be the Mayor of a community committed to clean energy and sustainability," says Park City Mayor Dana Williams. "It makes sense for Park City to support energy resources that do not contribute to global warming and air pollution - this community thrives on the quality of our environment."

Park City will officially celebrate the EPA recognition during the city's first Sustainability Week which goes from Saturday, April 14 through Sunday, April 22.

To date, Park City is only one of seven communities in the nation to receive EPA Green Power Community designation. EPA encourages municipalities and organizations to voluntarily purchase green power as a way to reduce the environmental impacts associated with conventional electricity use. As part of its recognition, Park City received two colorful street signs reading, "Welcome to a Green Power Community. We exceed EPA guidelines for buying clean, renewable energy." The sign will be posted at a high visibility location at the base of the stairs from Main Street leading to Park City's City Hall.

Green power is generated from renewable resources such as solar, wind, geothermal, biogas, biomass and low-impact hydro. Green power is considered cleaner than conventional sources of electricity and has lower carbon dioxide (CO2) emissions, a greenhouse gas linked to global climate change. Purchases of green power help accelerate the development of new renewable energy capacity nationwide.

Park City was named recently the recipient of a Blue Sky Renewable Energy Project Grant funded by Blue Sky program participants to pursue community-based renewable energy projects on various sites in Park City. Park City is looking at multiple ways to promote the City as a "Sustainable Community". On November 7, 2003 the Park City Council adopted a resolution declaring Park City's interest in taking a leadership role in promotion of sustainable energy by promoting both energy efficiency and renewable energy for Park City Municipal and the community.

Will it ever stop snowing?

2008-04-11T13:22:24Z

Day 4256 of continuous snow in beautiful park City...well at least it seems that long. The past three days have produced another 2+ feet of our famous powder giving us over 400" (550" in the Cottonwoods) for the year. Usually this time of year allows for sunny 50 degree ski days where you take a few runs, hang out on the "beach" for lunch and a drink and maybe finish off another few runs. This spring has been more like January skiing, knee deep powder through the trees and in the bowls, 20 degrees and snow/flurries. We still have 93" at mid-mountain and 140" at the peaks; what a change from last year when we were virtually out of snow by March. If you guys still want to ski, Snowbird will probably be open through July 4th weekend...80 degree skiing, who'd of thought it?

All this snow can cause problems with a quick thaw in late Spring and early Summer. With such huge snow pack of 160" at mid-mountain on the Salt Lake side, residents should prepare for the possibility of flooding this year.

With such an amazing snow year, next years early season reservations will be through the roof, and our real estate market will follow. The old saying "if you build it, they will come" is not quite as true as "when they come, we will build it", and with all the relocation into Salt Lake and Park City...we will be and are building a lot. We are still a value compared to other ski resort town and Salt Lake is one of the fastest growing cities in the country. With a predicted 10% per year increase in rent, this is an investors dream. Thousands of homes on the market and more renters than rentals....hmmmmm, sounds like a great time to buy in.

Secondary Market Vs New Loan Limits

2008-04-03T13:54:16Z

I had an interesting conversation with one of my loan officers last week about the new jumbo and FHA loan limits($729,750 in my area) and how their business has been affected and how my business will be affected.

Some interesting things came out of that discussion. One very interesting statistic that she brought up was that in the two weeks they had been writing such loans, not a single one had been sold to the secondary market as a company nationally...and this is not a small bank (wells fargo). Remember, this was as of last week Monday.

The government is attempting to help the housing market, but now we have to deal with the investors...the true government when it comes to loans. I would hope that you would be able to get a loan at $729,000 at the same interest rate as a $416,000 loan, and I believe that was what the government had in mind when they raised the limits. Unfortunately, they don't control the secondary market which all indicators say will still add .5-1% interest hike over the old jumbo limit of $417,000. And if you cross the $729,000 limit, you will be looking at a 2+% rate hike. It seems that then that the raised limits will have little affect on anything...at least in the near future.

I was hoping that these new limits would really help our market with better interest rates on jumbo loans (most of our condos/homes are over $500k), but it looks like things will not change for a a little while, until the jitters leave those investors. I hope this happens quickly as these new limits are only in effect until the end of the year.

Does anyone have other facts or opinions they want to share?

Energy (M$NEY) Saving Tips

2008-04-02T16:51:42Z

Hi All...In this time of crazy fuel prices and green conscious people, I thought it would be a good idea to share some tips on how to easily conserve energy (with the help of Energystar.org).

Insulate your hot water heater - Take a quick trip to the hardware store or home improvement store for a hot water heater insulation kit to wrap your water heater and save on water heating costs.
Consider installing a tank-less water heater - They supply endless amounts of hot water on demand and save energy. They have the potential to save 50% of your average water heating costs and also save lots of space.
Use a programmable thermostat - They automatically adjust the temperature of your home while you are away or sleeping.
Seal & Insulate your home - This improves comfort and reduces heating and cooling costs. To improve 'envelope' of your home, add insulation, seal air leaks and choose energy-efficient windows. Make sure all your ducts are properly sealed as many typically leak and loose both heating and cooling.
Maintain the right temperature in your refrigerator and freezer - Since refrigerators can use up to 20% of your homes electricity, it's a good idea to set the temperature between 38 and 42 degrees F. The freezer should be set between 0 and 5 degrees F.
Upgrade your refrigerator - If yours is more than 10 years old, it's a good idea to get a new energy efficient model. They can reduce your energy consumption by up to 1/2 that of a 10 year old conventional model.
Wash clothes in COLD water - With the latest cold water detergents, your clothes will come out just as clean and the will look better longer with less fading.
Take advantage of rebates and incentive programs - There are many programs in place with the different utility company's that are encouraging you to buy EnergyStar/ Energy Efficient appliances, lighting, computers, heating, etc...
Change filters monthly - A dirty air filter will slow down air flow and make the system work harder to keep you warm or cool - wasting energy. A clean filter will also prevent dust and dirt from building up in the system leading to expensive maintenance and/or early system failure.
Unplug items not being used - By unplugging items you are not using, you save energy loss know as "phantom energy use". This loss amounts to about 5% of your home electricity use.

Of course there are other ideas such as using energy efficient light bulbs, closing and opening blinds at different times of the day for different seasons and turning off lights when you are not in the room.

I hope this was useful to a few of you...let me know if you have any more ideas...

Regards,

Tim Hoffmann, TeamPC@Windermere.com

CMA Vs Absorption Rate

2007-10-24T16:25:13Z

When I first started in Real Estate, I took a lot of time learning about CMA's and how to do one properly to come up with an accurate market value. I used this type of valuation up until the past few months when I started to use an Absorption Rate instead.

What is an Absorption Rate? Well to put it simply, it is the amount of homes on the market, the amount of homes sold and the amount of homes listed per month, for a few months to decide how many months of inventory is out there. Do this for several price ranges around the price of the home you are listing to get an accurate idea of how long it should take for your listing to sell at a certain price. Simply put all of this information into a graph, and you will be able to give an accurate idea of how long a home will take to sell at different price points.

I have noticed a couple of things with this, one is that your customer will be very impressed with the work you have done already and will almost likely become your client, and two is that it is much easier to overcome seller objections to price and other agents who might be trying to buy the listing.

Even though this process takes quite a bit longer than a typical CMA, it is more accurate and will allow you to do a much better job for your client.

I will do a post later this week with an Absorption Rate that I just did for a client, so you can see what the one I use looks like. I will also give a more detailed idea how to gather and graph the information.

Let it Snow - 2 feet - What?

2007-10-20T19:53:54Z

Well it's snowing again here in Park City Utah. This week has been interesting. A few days of snow, a day at 70, and another day of snow. After the first few days, some areas were reporting as much as two feet of the white stuff. Judging by how hard it was snowing on my way to the office a second ago, I am sure we are adding to that.

If it snows, they will come; that has always been the case here in Park City. Being a La Nina year, we may be in for a great snow year. Now is the time to come to Park City to take advantage of the slow month and half and negotiate your way into a great investment property. With all the new developments going on, pre-construction pricing, very motivated sellers (in certain neighborhoods), developer incentives...our real estate market is an investors market.

I would be happy to show you Park City, inform you what our market is doing and provide for you information on our many new developments.

Let me know how I can help, and visit www.skatinghome.comto view our current MLS listings. Just keep in mind that much of our developer inventory is not on the MLS system.

I hope to hear from you soon -

Cheers

Quit Worrying About Points - Just Blog What's on Your Mind

2007-10-20T16:32:31Z

Points this, points that, you cheated to get your points, how do I get points, it goes on and on.

I don't typically like to rant or complain about things, I usually post questions I have or comments I would like to make or ideas to help everyone stay alive in the real estate business. However, this whole points thing is crazy.

People invite as many other people as they can to pad their points, they link every page on their website to pad points, and they use every trick in the book to pad points.

This is supposed to be about real estate, helping other Realtors with information and as a lead generator - at least that was the idea. The points thing has turned this into a competition instead of an informational site. I liken those who are padding their points to athletes who abuse steroids and other performance enhancing drugs.

If you have nothing useful to say, or questions to ask, but instead you re-post others posts, you invite the world to get points, etc...In my mind, you are as much a cheater as someone who uses performance enhancers to win a competition. I've seen it my whole life in sports, and I wouldn't trust those athletes with anything. Likewise, if you have to cheat to get points on here, how do you treat your business? Are you ethical, do you cut corners - I feel bad for your clients if you do.

I will probably get some slack for this, but it's how I feel and your supposed to Blog how you feel, aren't you? Oh yeah - I just gained 200 points for complaining about points:)

Going Green or Saving Green

2007-10-19T17:05:28Z

Which one is it these days?

With such a big movement towards "going green", is the way we think really changing? There are so many studies out now talking about Global Warming and the severe consequences that will result from the lack of immediate action. My thoughts sit somewhere in the middle, where I do think there is a problem, I don't think it is as detrimental as people make it out to be. That being said, I do think that we have to change the way we think and do business to prevent major problems in the future.

Some things are difficult to overcome without a change in tax law. For instance, the realized tax break for buying a Hybrid is only a fraction of the break realized from buying a auto with over 6000gvw. The next administration needs to take a serious look at that.

Some things are easier. I am working on becoming paperless. I now package CMA's online and send them with my marketing packet and pre-listing packets electronically. At listing presentations, I will do everything from my computer via powerpoint. My next step is to purchase a tablet computer where you can sign all your documents on the screen and email them rather than using paper copies.

We should also work with our buyers of new construction to educate them about the benefits of certain green friendly upgrades. The tax credit you get from these upgrades could offset the entire price of doing them. And if they don't, your energy bill sure will. There have been some great posts on here with webistes to go to and ideas on how to go green in your home.

My main question is, are we as Realtors more concerned about going green or saving green - or looking good? There is a big push in my market for going green, but I have only seen one agent driving a Hybrid (Lexus 400h). Most of the time I see Tahoes, Escalades, Mercedes, Suburbans and other large SUVs.

Let me know what ways you guys are going green. I would like more ideas that I can implement into my business. Thanks -

Windermere Realtors - New Group

2007-10-19T13:29:43Z

Windermere Agents - We have just started a new Blog for all Windermere agents within the Active Rain community. Come join us and share your thoughts, ideas, questions, anecdotes and whatever else comes to mind. This will be a good way to get in touch with and learn more about people within our family.

I hope to see you all there

http://activerain.com/groups/Windermere

Tim Hoffmann, Windermere Real Estate Utah - Park City

Welcome Windermere Agents

2007-10-19T13:12:45Z

Welcome everybody to the new Active Rain Group made especially for the Windermere family. After a brief discussion last night with other Windermere agents, we decided that this would be a good way to share information, ideas, funny anecdotes and referrals with those in the Windermere family.

Let's make this a success and use Active Rain for its original purpose, as a lead and referral generator.

Please pass this link along to all your colleagues who are on Active Rain.

Thanks,

Tim Hoffmann, Windermere Real Estate Utah-Park City

OOOPS

2007-10-18T16:57:09Z

That's usually what I say when I bring something home from the store that I thought for sure was going to look great in my place.

Obviously, I haven't a clue when it comes to decorating a home. I am great with designing and implementing marketing, with working with buyers and sellers and with negotiating, but when it comes to staging...I would probably do more harm than good. I do know how to de-clutter a clients home, but beyond that, I am clueless. I have interviewed a few home staging experts to use when the time comes, but to be honest, I don't know what to look for.

A friend of mine in the office sold a home that was vacant until he had a stager come in and quote him at north of $2,000 per month to stage it. Is that what I can expect to pay for a 1700sqft townhome?

Are there any good books, websites, classes to attend so that I could be more useful to my clients in this respect without relying on another?

Thanks -The Staging Inept:)

Active Rain Online Exercise Group (Support Group)

2007-10-16T18:21:42Z

Who here would like a little extra motivation when it comes to exercising regularly and eating right. I know I would. It was much easier to stay focused when I had a team, around me.

I would love to start a daily exercise log and support group on here for anyone who would be interested, myslef included. Let me know if there are any takers.

Humbled by a Legend

2007-10-16T18:16:59Z

So I am coaching the Park City Speed Skating club now and I am just having a great time helping these guys reach their goals.

I was at a dinner about a month ago to support and raise money for Childhood Leukemia when I heard them announce that Eric Heiden was donating one of his services for the auction. I hadn't seen Eric since I retired from Speed Skating a little of two years earlier. He had been traveling with us as our team doctor for a few years.

After some small talk, I mentioned that I was coaching the Park City Speed Skating Club and we're meeting four days a week for training. Eric wanted me to email him the training program so he could make some of these workouts with my team.

Yesterday evening he showed up to our dryland program and was ready to workout. The great thing about this man, he has 5 gold medals in one Olympics and is now one of the top surgeons in the country, but he just got right in and did the workout with us, talked to everybody and helped out. Let me tell you, I am not easily impressed with anybody, but he is a 40 year old man in a 20 something body. I bet he could get on the bike and ride with most pro riders or put on the skates and hang with most of the words best. I guess that's what you get when you take an incredible genetically athletic gift and add to it years of hard work and dedication.

I had been slacking a little in my exercising over the past two weeks, but man, he just lit a fire under my ass. Gonna get back on track starting tonight after work.

Park City Utah Market Update (October 1-14)

2007-10-16T15:37:55Z

Not much has changed over the past couple of weeks. Park City real estate is still moving along smoothly. This winter will be a good test for our housing market as it is usually the most active season for Park City Real Estate. I wish I had a crystal ball handy, but sans the crystal ball, I have to rely on all indications, and they point towards a strong Winter.

If you are selling your home and you take the proper steps to prepare and price your home correctly, it will sell, and it will sell at a good price. Because we are not seeing dramatic price reductions from last year (most reductions are coming from "optimistic sellers and overpricing), buyers are still confident in our market, and they should be. If you look at Park City vs. other major ski towns, we are still under valued.

Market recap for specific areas:

Park City - Old Town/Deer Valley -

Single Family Homes - We had nine new homes come on the market ranging from $599,000 to $5.495million. We had two homes go under contract with asking prices of $1.295million and $1.825million. Finally, we had six homes sell between $557,000 and $6.706million
Condos - We had 25 new condos come on the market between $85,000 and $3.785million. We had 12 condos go under contract with asking prices between $99,000 and $2.97million. Finally, we had 21 condos sell between $90,000 and $3.067 million.
Vacant Land - We had one lot come on the market at $1.715million. We had two lots go under contract with asking prices of $525,000 and $2.3million. Finally, we had no closed lots.

Park City - Basin Area -

Single Family Homes - We had 31 new homes come on the market between $424,900 and $3.295million. We had nine homes go under contract with asking prices from $325,000 to $2.495million. Finally, we had 11 homes sell between $439,000 and $7.9million.
Condos - We had 23 new condos come on the market between $188,800 and $1.325million. We had 10 condos go under contract with asking prices between $156,000 and $1.395million. Finally we had six condos sell between $199,000 and $439,000.
Vacant Land - We had 25 new lots come on the market between $125,000 and $2.6 million. We had two lots go under contract with asking prices of $79,000 and $730,900. Finally we had 12 lots sell between $230,000 and $2.295million.

If there is any information that you would like me to include in the future, please let me know at THoffmann@windermere.com, or post a comment here. Also as coach for the Park City Speed Skating Team, I have started a new Blog with information on Speed Skating in Park City, on how our National Team is competing around the world and any upcoming local events, World Cups or fundraisers. Please visit us at http://www.parkcityspeedskating.com/

That's all for today, please come back and visit us often.

Tim Hoffmann 435-513-0642

Who's your perfect match?

2007-10-11T17:13:34Z

Ever wonder who you are going to vote for in the next election. This is a fun way to see who your views best match up with.

http://www.vajoe.com/candidate_calculator.html

I thought it was fun, I ended up with Huckabee...