RE/MAX 440
John F. O'Hara

John F. O'Hara
731 W Skippack Pike  Blue Bell  PA 19422
Phone:  610-277-4060
Office:  215-643-3200
Cell:  267-481-1786
Fax:  267-354-6973

My Blog

Buying vs. Renting a Home Solar System

March 3, 2015 12:18 am

Looking for ways to cut costs as a homeowner? Go solar!

According to Consumer Reports, installing a solar system at home can reduce your utility bills by 50 percent or more. And solar systems are here to stay – the U.S. Department of Energy expects 900,000 homes will have a solar component by 2020.

Before you hire a solar specialist, consider how much direct sunlight your home gets on any given day, in any season. Homeowners with more exposure to sunlight will have greater opportunities for savings. It’s also important to evaluate the exterior of your home – an older roof will not be an ideal platform for solar paneling.

If you’ve determined that your home is well-equipped for a solar system, your next step is to decide whether you’d like to finance your own system or lease one from a reputable company. Installation can cost anywhere from $10,000 to $50,000, but you’ll immediately profit once the system is paid for. The government also provides tax credits and rebates which may lower costs overall.

Leasing a system may be a better option if you anticipate rate hikes in the future. A contract generally lasts for 20 years, so talk to your utility provider about foreseeable increases. It’s also a good idea to research past increases to gauge how volatile any changes may be over the next few years. Contracts typically include an escalation schedule that indicates expected payments over the life of the lease, so compare those with information from your utility provider to make the best decision.

Whether you plan to buy or lease your home’s solar system, be sure to shop around for estimates. A professional contractor will suggest the optimal size needed for your home and outline projected savings.

Source: Consumer Reports

Published with permission from RISMedia.


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Healthy Job Growth to Boost Housing Recovery

March 2, 2015 12:12 am

The economy is poised for a pickup in growth in 2015 amid a strengthening employment sector, rising income growth, and declining commodity prices, according to Fannie Mae’s Economic & Strategic Research (ESR) Group. The labor market has started the year on an upbeat note and is expected to lift consumer confidence, in turn helping to boost consumer spending, manufacturing activity and the pace of the housing recovery. Economic growth may face some headwinds as a strong U.S. dollar weighs on the trade deficit. However, the economy is expected to climb to 2.9 percent for the full year, up from 2.5 percent growth in 2014.

"We expect housing to shift up a gear in 2015 following the uneven and ultimately disappointing activity last year," says Fannie Mae Chief Economist Doug Duncan. "Our forecast calls for a number of factors, including strong hiring and income growth, stabilized housing affordability, and modestly easing lending standards, to translate into improving housing demand throughout the year. We continue to anticipate that the Fed will begin to hike short-term interest rates later this year, although weak global economic growth and geopolitical headwinds will likely limit the rise in long-term interest rates.”

Source: Fannie Mae

Published with permission from RISMedia.


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