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Best Idea of 2009: Using Private Building Sector incentives to Make homes Energy Efficient!

By
Real Estate Agent with Smart Green Realty

It is not my idea. It is the idea of a great American Ed Mazria and his firm Architecture2030. www.architecture2030.org. It is a plan to kick start the economy, using the private building sector. Offer homeowners a buydown of their mortgage interest rate if they make a substantial investment in the energy efficiency of their homes. If 2.9% of homeowners do it, it will create 9 million badly needed jobs for performance contractors and all the people who are in or benefit from remodeling and new construction. The 5 minute videos on the Architecture 2030 website explain it better than I do but here goes: Say you have a home w/ a $260,000 mortgage at 6% w payment of $1569 a month and $30,000 in equity. The homeowner refinances to get $20,000 to make energy efficiency improvements to their house...making it at least 30% more energy efficient. With  a government buy down,  their  new mortgage is $250,000 at 4%. They save $365 a month on their mortgage payment and at minimum, another $60 a month on utilities. The $20,000 goes right into the local economy where unemployment in the private building sector is now averaging 20% vs. 10% unemployment in the rest of the economy. Everybody from demolition people, to landscapers to interior designers--and YES Realtors! get a boost. People's homes will be more comfortable and worth more. And here is the beautiful part: the government will get all its money back! All the out of work people in the private building sector will start paying taxes and spending money....replenishing the local tax base. Please get behind Mazria and his plan. Mazria won the Hanley Award at the recent US Green Build conference in Phoenix. America can be great again...we can cut down on foreign oil imports and knockdown green house gas production. Please write your representatives and get behind this plan.