Disposing of latex paint the ecofriendly way

Ever since we moved into our Chatham home, I always think about what goes down the drain.  We have a septic system, which is very common in the triangle.  I have even sold homes in Raleigh that were on septic.  Knowing that whatever goes down our drain, ends up in the yard is a concern to me.  We have a creek on our property and lots of wildlife.  So, when I saw an article on this very subject  in the Chapel Hill News today, I was eager to hear what they had to say.

The author reported that the county occasionally gets reports of paint showing up in creeks and streams and offered some advice to dispose of latex paint.  The interesting thing is that because latex paint is not considered to be an environmental hazard, there are no restrictions for disposal.  I already knew that you are supposed to leave unused paint to dry out and completely harden prior to resealing the can for disposal.  The thing she addressed was a little less obvious; clean up.  What do you do with the water that you clean the brushes and tools with?  Her recommendation was to use a couple buckets for washing and rinsing and let is stand until it settles out and you can separate it.  The main point was to just dry out the residue and dispose of it properly.

I am going to take this one step further.  Because I have a septic system and I love to paint my house, I have spent lots of time debating this very dilemma.   I even had a discussion about it with another realtor.  I am an EcoBroker and I do my best to recycle as much as possible.  However, when it comes to paint clean up, it is my opinion that throw away tray liners and disposing of the rolller sleeves is less hazardous to the environment.  I usually try to dry the brush as much as possible with a paper towel so that minimal rinsing is needed but I am going to try the two bucket method suggested by Wendy Smith. 

Not only septic users should pay attention to what goes down the drain.  Even if your home is hooked to a sewage system, whatever you are putting down the drain ends up in the environment somewhere.  If you haven’t thought about it, I urge you to consider what goes down your drain.  Cleaning products, laundry products, household chemicals, shampoo, soaps, conditioners, hair dye, cosmetics…yes, all of that ends up in the environment.  There are lots of natural and only recently affordable alternatives.  I thank Wendy Smith for writing “The Perils of Latex Paint” found on A6 and urge everyone to let this be a reminder to us all to pay attention and realize that your drain does not lead to a place in another world.

Foreclosures by choice, not necessity

The Raleigh/Durham/Chapel Hill market is not exactly plagued with foreclosure.  Undoubtedly there are more foreclosures and short sales now but for the most part, people can get their properties sold if they make the right decisions.  That is, to let go of the idea of getting all you can and selling as is.  The market is too competitive for that but preserving your credit should be a priority. 

I know two people who recently let a property go into default.  In both instances, the owners could afford to pay their mortgage but made a decision to allow the foreclosure.  They walked away from what they felt was a bad investment.  There is a term called “group think” that I believe can identify this phenomenen.  Meaning that being part of a group makes the behavior ok, to say, well all of them are doing it so why can’t I.  In the two instances I mentioned, one is a divorce situation and the other was a kiddie condo that lost equity.  Neither home was particularly expensive.

I read an interesting article that spelled this out statistically in a way that was enlightening.  Researchers found that one in four foreclosures were strategic.  The main factors in the default were the degree that the homeowner was upside down (owed more than the home value) and moral considerations.  The least likely to default demographic was well educated buyers in the Northeast and West and home owners below the age of 35 or over 65.

If you are upside down in your mortgage, there are plenty of alternatives that will preserve your credit.  There is no reason to quit paying your mortgage if you can afford it.  Explore refiancing options and if you need to move and can’t sell your home, consider renting it.  The important thing is to be proactive and seek out a solution.

Tax credit on the table for 2010

The stimulus package seems to be working.  According to the National Association of Realtors, first time home buyers account for about 40% of the home sales lately.  This figure showing a 5% increase over historical statistics. 

Politicians who think the plan is working are calling for more tax incentives, over another year and to an expanded demographic…everyone who buys a home.  Critics are saying it will decrease tax revenue for an already strained budget.  We saw a very similar situation last year.  The initial tax credit plan that was approved July08, was merely an interest free loan.  When that failed to entice buyers in this unsettled market, the plan that is now in effect was approved.

I think we will see a similar situation in December when the stimulus package expires.  No matter what happens next year, you can’t lose by taking the sure thing this year.  You might be tempted to wait and see if there are more incentives next year but you are also risking that there will be no incentives.  

Closing on a home, prior to December 1,2009 (for buyers who have not owned a home in the past three years) will get you $8000 tax credit.  Can’t wait until 2010 to get your rebate or expecting to pay a higher tax rate for 09?  You can file an amended 2008 return and take your tax credit now.  My favorite part of the stimulus credit is that if you don’t owe $8K in tax, the government will send you a check.  There are income limits, so if you don’t need the tax credit, you won’t get it.  This may seem a little unfair but the point of the stimulus is to help those who couldn’t buy, be able to buy.