Ok, you just wrapped up demolition on your rehab. Or maybe you are designing and building your dream home. Time to think about saving money, and perhaps some energy costs. Let’s go double green!

The two best types of insulation to consider are cellulose and closed cell. Cellulose may be the greenest type to produce, as much of it is made from recycled newspaper and other reused materials. Cellulose is typically sprayed in, and tends to perform much better than the typical pink stuff (fiberglass) you usually see. Consult with your contractor or local insulation specialist for an estimate, or simply to verify how thick you need to spray in the cellulose if you decide to rent a sprayer and DIY. The R-factor is what they will be telling you, and modern building code dictates what R-factor or rating you need in particular areas. For instance, you need R-30 in your attic (typically 8″ deep).

Another option is to have a professional install closed cell insulation. You know those spray cans of foam that expand to fill gaps? This is the same stuff but on a larger scale. Since each cell is closed, it is harder for air to penetrate and cause drafts and energy loss. You will pay more for this, but in the long run your saved energy costs will pay for the extra initial outlay.

Another important factor involved with insulation is ventilation. If your home is well insulated but poorly ventilated you will incur problems as well. Ask your contractor or do your own research and you can double your level of greenity!

The folks over at Inman news found out that Fannie Mae, one of the beloved government sponsored enterprises (GSEs), will end their increased down payment requirements for property purchased in declining markets. This will change as of June 1. If you are thinking about purchasing a home, you will still need to come up with 3% down, but the additional 5% that was required starting this past January in areas where prices were falling will be eliminated, at least for single family homes.

Is this good news for home buyers? I would say yes. Hopefully this will ease a bit of the credit crisis as well. However, if private mortgage insurers do not go along with the changes, there will still be trouble. Anyone not putting at least 20% down is required to pay private mortgage insurance (PMI), and the insurers were not approving deals in these same declining markets because of the restrictions imposed by Fannie and Freddie. If the insurers change their policies to reflect the changing ones of Fannie Mae, then we won’t see potential borrowers getting a ‘NO’ on their applications for loans. Time will tell.

Ask your loan officer if you have questions about these ever-changing guidelines, and if you don’t have a good relationship with a lender, ask your agent or anyone you trust for help. It is hard to get a loan at the moment, but seeking answers and being proactive is a great way to start.

Painting a room is the easiest way to make it look updated or completely change its feel. Next time you are preparing to redo your living room, don’t reach for the traditional gallon of paint that you always use. Harsh and harmful chemicals are in that can, and once on your wall it takes up to three-and-a-half years for the paint to stop emitting toxins into the environment you call home. What’s in a normal gallon of paint? Chemicals I can’t pronounce. Research has shown these chemicals play a part in causing insomnia, depression, anxiety, and other ailments. Never mind when you first walk into a freshly painted room and get dizzy, feel lightheaded, and suffer from a headache.

How can you avoid this? Buying paints that have no volatile organic compounds (VOCs) is the first place to start. While there is no current standardized governmental regulation, third party reviewers stamp the green seal of approval on healthier paints. They review all parts of the process of creating paint, so you can trust that it is healthy. While organic/green building centers are not readily available for most, ask at your local hardware/paint store if they have any paint that is low/no odor and does not contain VOCs. Your health will thank you.

The most important question: what’s the cost? So called ‘green’ paint typically costs $30-40 for a gallon. Regular paint averages $20-35 a gallon, so paint that is good for you and the environment is more expensive but not prohibitively so. Moving into a new home and plan on repainting every room? You can expect to spend a couple hundred dollars more, but think of all the benefits. One step at a time, and you can easily go green!

Check back soon at our website for a link to a great new tool you can subscribe to. Here’s the deal: you download the program to your cell phone, and then you can see all available MLS listings right on your phone!

This service will cost a little less than $5 a month, and should be worth every penny. Driving around on the weekend? You can search for current open houses near you - GPS technology lets the program know where you currently are and allows you to search within that zip code or within a specific radius. Come across a great place and want to know the price? Use the program and you don’t have to call the list agent and listen to a sales pitch.

Data that you want, when you want it, all in the convenience of a program on your cell phone. Try it out this summer! I tried a prototype and it works great.

Are you a first time buyer? Have you not bought in a long time? Do you have questions about how you can save money in this buyer’s market? Well my goodness do we have something special for you.

Join us at Countrywide’s Peabody branch on 202 Newbury St. on Route 1 south on May 20th. I promise you won’t be disappointed. The program starts at 7pm and will run until 9 or so. You can reserve a seat by calling 978-536-1313. This free program is sure to be valuable to you if you are thinking about buying a home in the next 6-12 months or just want some questions answered.

What will be covered? How to buy foreclosures, negotiating tips in this market, determining how much to offer, how to buy with little or no money down, problems to avoid when buying, home inspection tips, and information for veterans on VA loans. If you have any questions, feel free to attend and pick our brains.

A real estate attorney, a member of the buyer broker hall of fame, and loan consultants with experience in home repair/rehab loans, credit repair, and government loans will all be presenting. Hope to see you there!

Home sales are way down, that much we know. Sales closing in March of 2008 were down almost a third from the same time frame a year earlier. How come? Without knowing all the facts, one would first point to the struggling economy. Recession fears are all over the news right now. Is that the problem? No. Boston’s economy continues to improve, and although there have been some layoffs in the financial services industry, job growth in our area remains steady. Popular sectors still hiring and growing in the Boston area are high tech and biotech firms. In fact, the economy has grown 3% in the first quarter.

So what’s the deal? Unfortunately, it’s the credit crisis. Lenders are continuing to restrict their loans. They are having a harder time finding money to lend to buyers, and if you don’t have at least 5% saved to put towards a down payment, you will find it very hard to get a loan. I have spoken to quite a few potential buyers who are not able to get preapproved, and in most cases it is because they are looking to buy with little to no money down. Until lenders can access money more readily, this trend is bound to continue.

The majority of owners with homes on the market right now will be looking to turn around and buy again as soon as their current home sells, but with fewer qualified buyers looking at their home, time on the market will not go down until this credit crisis eases.

If you are a buyer with less than a 5% down payment, there are alternatives out there. FHA loans are becoming increasingly popular and may be a good alternative to traditional lenders and brokers. If you are thinking about entering this buyer’s market, ask for help in obtaining preapproval for a loan. Many good agents know about current loan standards, and we at Buyer’s Choice are knowledgeable in this area and can point you to available resources.