The Home Energy Rating System (HERS) Index is the industry standard by which a home's energy efficiency is measured. It’s also the nationally recognized system for inspecting and calculating a home's energy performance.
What does a HERS rating say about a house?
The HERS Index measures a home's energy efficiency and there are a lot of great reasons to have a home energy rating performed on your house.
It can tell you so much about the home you live in, like how efficiently it’s operating and where you can make modifications for greater energy savings . When you're selling your home, a low HERS Index Score can command a higher resale price. And when you’re buying a home you can anticipate the costs of energy bills and efficiency upgrades.
How does the HERS Index work?
A certified Home Energy Rater assesses the energy efficiency of a home, assigning it a relative performance score. The lower the number, the more energy efficient the home.
The U.S. Department of Energy has determined that a typical resale home scores 130 on the HERS Index while a standard new home is awarded a rating of 100.
More on what the scores mean .
To calculate a home’s HERS Index Score, a certified RESNET HERS Rater does an energy rating on your home and compares the data against a 'reference home'– a designed-model home of the same size and shape as the actual home, so your score is always relative to the size, shape and type of house you live in.
Some of the variables included in an energy rating are:
Public Access to the RESNET National Rating Registry
RESNET has created a National Registry that contains information on certified RESNET HERS Raters and Home Energy Ratings. If you would like to confirm if a HERS Rater’s certification is in good standing or check the HERS Index Score of a home, this is the site for you.
Certified RESNET HERS Raters
The public can now access the following information on certified HERS Raters:
HERS Index Score of a Home
The public can now access the following information on rated homes:
To access the RESNET National Rating Registry click on RESNET HERS Rater and Home's RESNET HERS Index Score Information
Here are four great reasons to consider buying a home today, instead of waiting.
1. Prices Will Continue to Rise
CoreLogic’s latest Home Price Index reports that home prices have appreciated by 6.7% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.0% over the next year.
The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense.
2. Mortgage Interest Rates Are Projected to Increase
Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have hovered around 4%. Most experts predict that rates will rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors are in unison, projecting that rates will increase by this time next year.
An increase in rates will impact YOUR monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is necessary to buy your next home.
3. Either Way, You Are Paying a Mortgage
There are some renters who have not yet purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.
As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to have equity in your home that you can tap into later in life. As a renter, you guarantee your landlord is the person with that equity.
Are you ready to put your housing cost to work for you?
4. It's Time to Move on With Your Life
The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise.
But what if they weren’t? Would you wait?
Look at the actual reason you are buying and decide if it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer or you just want to have control over renovations, maybe now is the time to buy.
If purchasing a home for you and your family is the right thing for you to do this year, buying sooner rather than later could lead to substantial savings.
We previously informed you about a study conducted by TransUnion titled, “The Bubble, the Burst and Now – What Happened to the Consumer?” The study revealed that 1.5 million homeowners who were negatively impacted by the housing crisis could re-enter the housing market between 2016-2019.
Recently , HousingWire analyzed data from the US Bankruptcy Courts and revealed that 6 million Americans will have their bankruptcies disappear off their credit reports over the next five years and that this could “ possibly send a flood of more homebuyers into the housing market. ”
The chart below shows the total number of bankruptcies filed by year in the US over the last 10 years. The light blue bars represent over 3.3 million people who have already waited the 7 years necessary for their reports to no longer include their bankruptcies.
ICEHOUSE AMPHITHEATER: The 246th Army Band will play a free concert at 7 p.m. Monday, July 3, before a fireworks display. 107 W. Main St., Lexington.
SALUDA SHOALS PARK: The Lake Murray Symphony Orchestra’s Star-Spangled Symphonic Salute is 8 p.m. Monday, July 3. 5605 Bush River Road. $5 per car.LEXINGTON COUNTY PEACH FESTIVAL: There’s something oh so American about a day that includes a peach recipe contest, a car show, a peach parade, live music and, obviously, fireworks. The festival starts at 9 a.m. Tuesday, July 4, at the Gilbert Community Park with fireworks at 10 p.m. 110 Rikard Circle, Gilbert.
"Star Spangled Symphonic Salute" Concert | Lake Murray Symphony Orchestra
Saluda Shoals Park!
Patriotic concert at Saluda Shoals Park! Broadway songs, patriotic music and sing-a-longs. Bring picnic blanket or chair. Children's activities. 7pm. More here.
246 Army Band | Icehouse Amphitheater
Monday, July 3, 2017
Uncle Sam Jam | Mount Pleasant Pier
Tuesday, July 4, 2017
To start the year, housing experts all agreed on one thing: 2017 was going to be the year we would see mortgage interest rates begin to rise. After years of historically low rates, and an improving economy, the question wasn’t if they would increase but instead how much they would increase . Some thought we could see rates hit 5-5.5% by the end of the year.
However, the exact opposite has happened. Instead of higher rates as we head into the middle of 2017, we now have the lowest rates of the year (as reported by Freddie Mac ). Here is a graph of mortgage rate movement since the beginning of the year: