Simple Ways An HOA Can Go Green
While there is continuing debate about global climate change, one >
Homeowner associations often control a variety of systems, processes, equipment, designs and materials. In all HOAs, there are opportunities to improve energy efficiency which often produce economic benefits as well. This is a win-win: doing well by doing good Here are some ways an HOA can go green:
This involves a combination of careful plant and tree selection, turf reduction, chemical fertilizer elimination and water management. The days of broad green spaces are making way for a myriad of options that are more water and earth friendly. Selecting pest resistant and drought tolerant native species saves on maintenance, water and pest control. Fitting sprinkler systems with rain override sensors reduces water. Reducing turf areas reduces mowing and the pollution generated by gas powered equipment.
Many areas have building product and material recycling centers which will accept lumber, doors, windows, cabinets, sinks, carpet and appliances. If you are renovating your clubhouse and have an option to donate used material and equipment instead of dumping, do it. Craigslist.com offers a free way to dispose of building materials.
Some jurisdictions have mandated recycling as part of the trash collection process. When recyclables are separated from trash, the trash load is reduced and trash collection costs less. With less trash, the landfill load is reduced as is the contamination of soil and ground water. Even where recycling is provided, compliance lags due to consumer laziness. The HOA can remind residents of their civic duty and the obvious benefit of lower trash collection costs.
Where government recycling requirements are absent, the HOA can create its own system by establishing a centralized recycling station for glass, metal, paper and recyclable plastics that is serviced by a contractor or committee. While individuals can haul their own recycling, the easier and cheaper it is to do, the greater the compliance. Centralize and economize.
Manage Energy Better.
Take full advantage of power and water saving devices. LED Light Emitting Diode use minuscule amount of energy compared to other forms. Add solar activated exterior light controls so lights burn only when needed. Replace high flow plumbing fixtures with low flow models. Insulate water pipes and heat ducts.nbsp;
This option is becoming more prevalent in metropolitan areas. Leftover latex paint is screened and blended into a popular pallette of colors and resold at a reduced price. For options, Google "[your state] recycled paint".
Many states offer incentives for adding solar power generation or solar hot water systems. If your buildings have flat roofs or good southern exposure, consult with local solar system providers for options. For HOAs with pools, solar water heating can often pay for itself quickly and significantly lower energy consumption. .
This is an often overlooked strategy in reducing waste. Packaging can range from none like buying food in bulk to Fort Knox like hard shell plastic wrapped around electronics to reduce theft. Consumers generally have a range of packaging choices in many products. Opting for the one with less packaging is a conscious decision to help green the world.
Make it Fun
The intriguing thing about going green is there are so many ways to pull it off. The HOA can encourage the process by offering prizes for effort and creativity. Those that step up are often willing to help recruit and encourage others. The news media loves to run stories about grass root green efforts. Make your HOA a standout and be seen as green.
> Full Story
Secured vs. Unsecured Debt: How Lenders See Them
A mortgage is a type of loan to finance real estate. The real estate can be a residential property or it can be a commercial one. The terms mortgage and loan arent necessarily interchangeable. Yes, a mortgage is a loan but a loan isnt necessarily a mortgage. One of the primary differences is whether or not the loan is deemed secured. What does the term secured mean? It means the lender has placed a lien on the item being financed. This collateral reduces the amount of risk to the lender. Should the borrower ever default, the lender issuing the secured note and recover the asset via repossession or foreclosure. Someone for example with an automobile loan who goes a few months without making a payment might soon discover their car is no longer in the drivewaythe lender took it back. Further, if the current value of the asset isnt enough to pay off the existing loan balance, the borrower is still on the hook for the remainder.
This leads us to the terms secured and unsecured debt. An automobile loan is an easy way to understand security. If payments are made on time each month, or at least during that month, the automobile stays in the driveway. That said, most notes have language that allows the lender to charge a late fee if the payment is not received by a certain date. A note might have a payment due date on the 1st of the month but if the payment is not made by the 15th, a late penalty fee will be tacked on.nbsp;
And because the automobile loan is secured, if the payments are not made, the lender will take back the car. When the automobile loan is ultimately paid off, the lender will >
Mortgages are also a secured debt. In the same manner, the lender has a legal interest in the property while the mortgage is still in place. Each month as a mortgage payment is made a portion of the payment goes toward the lender for interest due and a portion goes directly to the outstanding loan balance. A mortgage is indeed a loan, but an automobile loan is not a mortgage. The terms are not interchangeable.
An unsecured loan is one where there is no collateral attached to the note. A common unsecured loan can be debt acquired with a credit card. Someone with a credit card can go out and buy a new suit and make monthly payments on the card. Using this example, if someone can longer make the payments on the card and cant make any financial arrangements with the card issuer, the issuer can send the outstanding balance to a collection department or agency and ultimately charge off the balance altogether. With unsecured debt, the lender wont try and recover the business suit. There is no lien attached. This process works with any type of unsecured debt.
> Full Story
September Real Estate Roundup
Freddie Macs results of its Primary Mortgage Market Survey shows that "Mortgage rates rose across all loan types this week as the 10-year U.S. Treasury yield reached its highest point since June. Many factors led to this increase, including the Federal Reserve communicating that it will taper its support of the capital markets, the broadening of inflation and emerging energy supply shortages which compound other labor and materials shortages. We expect mortgage rates to continue to rise modestly which will likely have an impact on home prices, causing them to moderate slightly after increasing over the last year."
30-year fixed-rate mortgage FRM averaged 3.01 percent with an average 0.7 points for the week ending September 30, 2021, up from last month when it averaged 2.87 percent. A year ago, at this time, the 30-year FRM averaged 2.88 percent.
15-year FRM this week averaged 2.28 percent with an average 0.6 points, up from last month when it averaged 2.17 percent. A year ago, at this time, the 15-year FRM averaged 2.36 percent.
5-year Treasury-indexed hybrid adjustable-rate mortgage ARM averaged 2.48 percent this week with an average 0.3 points, up from last month when it averaged 2.42 percent. A year ago, at this time, the 5-year ARM averaged 2.90 percent.
> Full Story