Topic: Hot Technical Topics

Many people are buying foreclosure or short sale properties these days. These homes can be a great investment for many, but they can also be more challenging to buy--the process can take a bit longer and there are some unique things to consider about the property as it may have been sitting without regular maintenance for quite some time.

Last week I received a comment on one of my HOME STAR legislation updates, asking what the timeline was for the bill. So I wanted to let everyone  know that today, Thursday, May 6, 2010 the House is scheduled to vote on H.R. 5019, which will authorize $6B for HOME STAR, aka "Cash for Caulkers" (a name, by the way, that I dislike). It has bi-partisan support and should pass, but only time will tell.

On Thursday, April 15, a day after Rep. Peter Welch (D-Vt.) introduced the Home Star Energy Retrofit Act (H.R. 5019) (VIDEO BELOW), the House Committee on Energy and Commerce approved the bipartisan bill by a vote of 30-17. Welch's energy efficiency retrofit initiative would create 170,000 jobs and save homeowners $10 billion dollars on their energy bills in the next decade by providing direct incentives to consumers to install energy-saving measures.

While there are many things that are different about foreclosures and short sales compared to the typical real estate transaction, one thing that is still the same? A property inspection is still a vital piece of the transaction that helps to educate and protect buyers and REALTORS® alike.