The New Remodeling Rules
WSJ – Personal Finance
“According to an April 15 report from the Joint Center for Housing Studies at Harvard University, annual spending on remodeling is expected to accelerate this year, with nearly 5% growth over 2009. This year could produce the first annual spending increase for the industry since 2006, the peak of the housing boom, says center director Nicolas P. Retsinas. During the bubble, homeowners sought the biggest, splashiest home improvements to boost resale value. Now they’re doing smaller projects that deliver a similar result for far less money.”
Green Homes Sell Faster, But Harder to Appraise
HGTV Pro – NAHB (Nation’s Building News)
“While official statistics may be lacking, many builders attending the NAHB National Green Building Conference in Raleigh, N.C., on May 16-18 said that they have been able to sell sustainably built homes considerably faster than the traditionally built new homes that have been languishing in today’s tough market.
Green builders, however, have little immunity from the tight financial conditions that have been plaguing the housing market and imposing difficulties for both home buyers and sellers. And the widespread problem of low appraisals — driven largely by a glut of foreclosed properties and a slow market — has been doubly frustrating for green builders because the vast majority of appraisers are unable to recognize the value that green features add to the home.”
New Lead Paint Laws Updated
Charles & Hudson
“The new lead paint rule instituted by the EPA that requires special handling when remodeling all pre-1978 homes has now been slightly altered.”
Home-Efficiency Program Takes Hit
WSJ – Developments Blog
“White House-backed effort to encourage home-energy improvements was dealt a blow Tuesday after a federal regulator said the program posed significant risks to mortgage lenders and investors. The Federal Housing Finance Agency, which regulates Fannie Mae and Freddie Mac, suggested the mortgage finance titans should avoid participating in the program or should tighten their lending standards where the initiative moves forward.”
