blu house properties

  By Sari Krieger     Of DOW JONES VENTUREWIRE 

Not everyone who believes in the future of green buildings can build one themselves, but investing in real estate companies that share this conviction is an increasingly viable option.

Real estate companies and real estate investment trusts have been boosting the environmentally friendly credentials of their buildings, often turning to the U.S. Green Building Council’s Leadership in Energy and Environmental Design rating system.

Out of 135 REITs, 52, or about 38%, have some space that they disclose as having a LEED certification of some type. This accounts for about 9% of the total space owned by public REITs, according to Uniplan Investment Counsel Inc., an investment advisory firm.

“One thing that’s interesting is even despite the downturn, real estate investors have remained focused on energy efficiency” said David Wood, Director of the Initiative for Responsible Investment at Harvard University. “In part that is because it is something they can focus on. You can work on benchmarking their performance even while the market is fairly frozen.”

Some REITs say that over the last few years they have constructed all-new buildings to a LEED standard and are looking to renovate existing buildings to make them greener. Since buildings are a long-term asset, these REITs say sustainability is a good long-term investment since the future looks green.

Jack Rizzo, chief sustainability officer for ProLogis (PLD), said building green increases the value of the property long-term and improves tenant retention rates. ProLogis is a REIT that owns warehouse facilities. It has 45 million square feet certified as green building out of a total portfolio of 475 million square feet worldwide.

The company made an official commitment in 2008 to build all new buildings in an environmentally friendly way. It has therefore obtained a listing on green indexes like the Dow Jones Sustainability Index, which has offered up a new set of investors, Rizzo said.

Publicly traded real estate company Thomas Properties Group Inc. (TPGI) Executive Vice President Randy Scott said green buildings mean lower operating cost and more efficient operation.

“Those savings end up being shared with the tenants who lease our building,” Scott said. “It becomes a competitive advantage for us. We believe LEED-rated buildings have an advantage in the marketplace.”

Thomas Properties has 15.4 million square feet under management and 13.4 million feet are buildings considered Energy Star-rated, which is an Environmental Protection Agency energy efficiency standard. Also, 4 million square feet of its portfolio is LEED-certified and another 5.3 million square feet is in the process of obtaining LEED certification. Scott also said investors have responded well to the company’s green strategy.

Uniplan says that REITs that have a better Progressive Score–a rating system that the company uses that includes areas like sustainability, government relations and worker treatment–tend to have a higher return on invested capital over a complete real estate market cycle.

“This will normally result in share price outperformance relative to their lower-ranked peers,” said Uniplan President Richard Imperiale.

The National Association of Real Estate Investment Trusts realized green buildings were becoming an important part of the industry and created the Leader in the Light award program in 2005 to recognize companies that had outstanding energy efficiency.

“Even in the challenging market conditions of recent years, more and more REITs have shown that a consistent focus on sustainability and energy efficiency is not only a positive for the company and the environment, but also for shareholders,” said Sheldon Groner, executive vice president of finance and operations for NAREIT.

Steve Frankel, an analyst with Green Street Advisors, an independent research company that focuses on publicly traded real estate companies, said green buildings cost about 2% to 5% more to build, but the extra cost is made up through operational savings.

“Buildings in the future are going to have to have environmental elements and if you’re not building a building that’s environmentally friendly it might go obsolete quickly,” Frankel said. “Also, you’ll get a better net rent over time because it generates lower operating costs.”

-By Sari Krieger, Dow Jones Venturewire; 212-416-2016; sari.krieger@dowjones.com

There will come a time during your home buying process when you’ll need to do a final walk-through of the home before closing.

Around a week before you close, take the time to visit your “new” home again. When you’re there, check to be sure that the terms of your contract have been met, and that the condition of the property has not changed significantly since talks began. As your reference guide, be sure to bring your purchase contract with you for this walk-through. This will help you look for little details, without having to remember each item. What are things you should be on the lookout for?

1. Major appliances: Be sure that any items that were to remain in the home are still there, and that they are in good working order.

2. Major systems: Do the air conditioning, heat, and plumbing still function?

3. Walls and floors: Has any damage occurred to the floors or walls during the sellers move? Were rugs, artwork, or carpets covering water damage that was not disclosed?

4. Repairs: As part of your purchase contract, the seller may have been required to make specific repairs. Be sure that these have been completed, or that the seller has a written timeline for when the repairs will be done.

5. Screens and Storm Windows: If it is the season for these items to be in storage, be sure they have been left behind and that they are in good shape.

6. Remotes: Garage doors, alarms, sound systems, and the like all use remotes, some of which can be very expensive. If any of these components were part of your agreement, be sure they have been kept with the house.

7. Cleanliness: The home should have been cleaned and all debris removed. You don’t want to spend the first week living in your new home cleaning up other people’s junk.

8. Landscaping: It may seem ridiculous, but yes, some sellers may try to run off with your shrubs and plants. Refer back to your contract to see what should have stayed. If plants were taken, let your agent handle the situation.

9. Fixtures: Light fixtures, curtains, and other items that were agreed upon should still be in the home. If they are not, let your agent address the conflict.

10. Exterior: Has there been any damage to the home since your inspection or first visit? If there have been storm with high winds or hail, be sure to visually inspect the exterior of the house for damage.

Once you have signed on that dotted line, the house is yours. Hail damage and all. Closing time can be very hectic. Be sure to make time for your final walk-through. It’s a smart way to bring to completion a long, but joyous, process.

-Carla Hill

See original article at http://realtytimes.com/rtpages/20100727_walkthrough.htm 

Published: July 27, 2010

Carla Hill, M.A., works on the Realty Times staff as Managing Editor for our online publication. She also is Producer for the real estate news channel, seen daily on RealtyTimes.com and on video newsletters nationwide. She currently works out of the Realty Times corporate office and studio in Dallas, TX. Any questions can be sent to Carla at // <![CDATA[
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By Rachael Recker with the Grand Rapids Press

GRAND RAPIDS — Traffic signals along Lyon Street NE at Ransom and Bostwick avenues won’t be able to stop westbound traffic next month, when the downtown hill is closed and transformed into a 500-foot, inflated-vinyl waterslide.

The normally busy downtown hill will become a mini urban water park Aug. 21-22, thanks to Grand Rapids event coordinator Rob Bliss.

The two-lane waterslide will be open to everyone 48 inches or taller and will be free to ride from 8 a.m. to 10 p.m. that weekend.

Bliss, 21 — whose Rob Bliss Events became a nonprofit entity in mid-July — was to announce the $40,000 project featuring “the world’s largest waterslide” at a press conference today on the Grand Rapids Community College campus, which includes part of Lyon Street.

As a thank-you to the college for its cooperation, the former GRCC student, who also lives on Lyon, cast the waterslide in the college’s colors: yellow and blue.

“I think this will be the most talked-about, exciting event to happen here besides ArtPrize. It’s really large,” said Bliss, laughing in disbelief. “Like I don’t think anyone’s really going to understand how big of a deal this is until the event actually comes. I mean, if you walk or drive (500 feet), it’s really long.”

Bliss came up with the idea last year during his many walks up and down the hill to and from his classes at GRCC. It also seemed like a fun summertime event.

“Turning a street into an enormous water slide just initially struck me and seemed like the safest thing I could do involving a hill, as well as (provide) the most dramatic change to an area,” he said.

The slide, estimated to cost about $28,000 and manufactured in California, will be composed of 11 sections and lined with 2- to 3-foot-tall sides. Byron Center-based ACP Entertainment, a party rentals and entertainment production company, worked on the design.

With at least a half-foot lift above the cement, the waterslide weighs about four tons and was custom built for the Lyon Street hill, APC General Manager Ryan Strayhorn said.

Water will constantly run down the slide on both sides and drain off into the street. He said a filtration system would have been too expensive and nearly impossible for the slide. A series of 10 speed bumps or cushioned “waves” at the end of the slide will act as a braking system. A 10-foot-high ramp, encased in netting will catch participants after the waves.

The slide also will feature a 10-foot-high incline with a built-in ladder at its start to give riders an initial “oomph.” Strayhorn also said 52 holes will be drilled into the asphalt to secure the slide to the road.

“It is extremely important that people do not think it’s a Slip ‘n’ Slide just put on a bunch of concrete,” Bliss added, noting that many test runs will be done before it’s opened to the public.

Bliss also hired Elite Security to make sure nobody interferes with sliders’ safety. Like any water park, participants will slide on their backs and at their own risk. He also is considering selling skip-the-line tickets.

“It’s a miracle,” said Bliss, who was able to secure numerous local sponsors, including title sponsor Wolverine Worldwide ($5,000) and ArtVan, Riverhouse Condos and Design 1 (all $3,000 apiece).

Bliss plans to make the slide an annual event for the next 20 or so years — the projected life span of the slide.

“This is like the one event that I hope I’m remembered for after my time here is done,” Bliss said. “It pretty much sums up everything that I do.”

His Grand Rapids Electronic Music Night, featuring local deejays and headlined by Chicago’s DJ Kalendr, will be at 7 p.m. Friday at Calder Plaza. Other Bliss events have included a zombie walk, pillow fight and sidewalk chalk flood.

Grand Rapids, Michigan condo project Boardwalk Condos has announced a partnership with MacKenzie’s Animal Sanctuary to hold a raffle to give away one of the desirable Boardwalk Condos.

For $100 per ticket, participants will be entered to win a two bedroom condo valued at $189,000- or $100,000 in cash. To purchase a raffle ticket, please go to: mackenziesfoundation.org

For a discount on tickets, they can be purchased in groups of 3 for $275 or 10 for $800. The grand prize drawing will be held on October 7,  but there will also be an early bird cash drawing on the 28th of August.

Below is the official press release from MacKenzie’s:

LAKE ODESSA, Mich.–Mackenzie’s Animal Sanctuary (MAS), the Midwest’s largest sheltered no-kill sanctuary, announced today that they are organizing a home raffle to directly benefit dogs in need and to promote current and future financial stability. Partnering with Parkland Properties of Michigan, a real estate company in Grand Rapids, MI that offers unique and modern properties, Mackenzie’s will give away a new Boardwalk Condominium (valued at $189,000) or $100,000 cash to the grand-prize winner.

“Our mission is to provide neglected dogs the love, care and home that they deserve”

The condo, located at Boardwalk Condominiums in downtown Grand Rapids, is a second-floor corner unit with a timeless view of the Grand River. The space includes two bedrooms, one bathroom, one covered parking space and full access amenities including an outdoor pool, fitness center, beautiful courtyards, theatre and game rooms, tanning salons and twenty-four hour security staff, to name a few. For more information on Boardwalk Condominiums and to view the floor plan, please visit boardwalkgr.com.

Relying solely on private donations, Mackenzie’s is very grateful and proud to have the support of the local community and, specifically, a partnership with Parkland Properties of Michigan. “Our mission is to provide neglected dogs the love, care and home that they deserve,” said Amanda Parrish, Marketing and PR Coordinator of MAS. “The community relies on us to protect and provide shelter and care to helpless and abused dogs, and with the support of Parkland Properties of Michigan, we are able to fulfill Mackenzie’s mission.”

The grand prize drawing to win either a new Boardwalk condo or $100,000 cash will be on October 7^th. Other early-bird cash prizes will be offered with drawings on July 8^th and August 28^th for a chance to win cash or prize equivalents of $250 to $2,500. Tickets must be purchased by 5:00 p.m. ET on September 30^th with all drawings taking place at The B.O.B. in downtown Grand Rapids on the specified days. Ticket prices are $100 for a single ticket, $275 for three tickets or $800 for ten tickets. Interested parties should visit mackenziesfoundation.org to purchase tickets or for more information.

This raffle is licensed by the State of Michigan Charitable Gaming Division. License #C24909

About Mackenzie’s Animal Sanctuary

Founded in 1999, Mackenzie’s is dedicated to finding homes for abused, abandoned and neglected dogs. MAS maintains the highest standards of care for animals, including veterinary care, housing, love, tenderness and compassion. The organization has the capacity to house up to 115 dogs and, as space allows, assists other animal welfare organizations by taking in dogs that may otherwise be euthanized

Official press release: (Grand Rapids, MI) The 2010 “Taste of Grand Rapids & BBQ Competition” kicks off Friday, July 23rd and Saturday, July 24th for two days of food tasting, live music, and a sanctioned barbecue tournament, at John Ball Park, 1300 West Fulton Street, Grand Rapids, Michigan. Hours for the “Taste of Grand Rapids and BBQ Competition” are 3pm to 10pm on Friday, July 23rd and 11am to10pm on Saturday, July 24th.

Admission and parking to the “Taste of Grand Rapids” is free. Patrons may purchase tastes and samples of food from 25 participating Grand Rapids area restaurants.

Live non-stop entertainment will be featured by 17 different bands including Echoes of Pink Floyd and Zooropa, two nationally renowned tribute bands.

Along with a wide variety of food and entertainment, the “Taste of Grand Rapids” will feature a Kansas City Barbecue Society (KCBS) sanctioned contest during the two days of the “Taste of Grand Rapids”. Approximately 50 teams from half a dozen states are expected to compete to determine the State Barbecue Champion of Michigan.

“The food is the real star every year at the Taste of Grand Rapids,” said Rich Berry, Events Coordinator for the event. “We have a number of new restaurants, so people will be pleasantly surprised. We want to give people the opportunity to try a number of different types of food inexpensively in one setting.

“The Taste of Grand Rapids is also an excellent opportunity for us to showcase a number of terrific local bands.”

A Pink Floyd tribute band Echos of Pink Floyd will be headlining the “Taste of Grand Rapids” on Friday, July 23rd and a U2 tribute band Zooropa will headline on Saturday, July 24th.

“Both of these bands perform nationally and we are honored that they have chosen the Taste of Grand Rapids to showcase their talents. They are extremely talented and you actually think you are hearing the real bands,” said Berry.

Hours for the “Taste of Grand Rapids” at John Ball Park are from 3pm to10pm on Friday, July 23rd and from 11am to10 pm on Saturday, July 24th. Admission and parking are free. John Ball Park is in northwest Grand Rapids, located at 1300 West Fulton Street.

Live Entertainment inlcudes…

Friday:

Don Bidell
Jim and Adam
Cities and Saints
Left Hand Daisy
Sam Parks Project
The Narrative
Echoes of Pink Floyd – Pink Floyd Tribute Band

Saturday:

Don Bidell
Sidetrack
Nine Mile Smile
Lefty Malone
Silversmith
Waverland
Just Jake
Righteous
The Narrative
Zooropa – U2 Tribute Band

Admission Rates: Free
Samples range from 1-7 tickets

The Grand Rapids Association of Realtors, or GRAR,  is now part of the South and West Michigan Regional Information Center, or SWMRIC.

The biggest change will involve the MLS, the Multiple Listing System, which is how all the homes currently on the market can be viewed by Realtors, Clients and the general public. GRAR was using Solid Earth for their MLS, but to join with SWMRIC, converted over to that system, using Rapattoni instead. And while for the most part, all the listings transferred over, there are still a few gliches being worked on. In addition, the number of characters for property descriptions is also limited to 1000, so many Realtors will need to downsize their comments.

SWMRIC covers available Real Estate in the South and West Michigan counties of Allegan, Barry, Berrien, Branch, Calhoun, Cass, Hillsdale, Ionia, Kalamazoo, Kent, Lake, Manistee, Mason, Mecosta, Montcalm, Muskegon, Newaygo, Oceana, Osceola, Ottawa, St. Joseph, Van Buren and beyond.

Serving the following Realtor Associations: Battle Creek Area, Branch County, Grand Rapids, Greater Kalamazoo, Hillsdale County, Mason-Oceana-Manistee, Montcalm County, Southwestern Michigan, St. Joseph, West Central Michigan and West Michigan Lakeshore.

Open the garden gate to the 3rd annual Heritage Hill Garden Tour on June 19, 2010. Tour 11 gardens in a historic, urban neighborhood and appreciate Grand Rapids’ architectural homes and heritage along your stroll. View a mix of gardens that capture the sights of the city and feature ponds, pergolas, statues, fountains, cobblestone paths and islands of color. Gardens are open from 10:00 a.m. to 5:00 p.m.

Advance tickets are $8.00 and available at the Heritage Hill Association, 126 College SE or on-line at www.heritagehillweb.org. Tickets purchased on June 19 are $10.00 and available only at the ticket booth at the Association for the Blind offices, 456 Cherry SE. The Tour is self-directed and garden stops and highlights are detailed in your ticket brochure.

Volunteers are available at each of the open gardens to answer any questions. For more information and to purchase tickets go to www.heritagehillweb.org or call the Heritage Hill Association at 616-459-8950.

The Garden Tour happens rain or shine!

UPDATE as of 6/17/2010: Senate has approved this bill for extension. It will now be passed along to the House, and after that to the President.

Any home buyer in Grand Rapids that’s getting nervous about the looming June 30 deadline to complete their closing for tax credit qualification may be able to breathe easier, as new legislation has been introduced to extend the deadline for closing until September 30, 2010.  Selling your home in West Michigan now will not qualify, as contracts had to be underway by April 30. This deadline extension would especially help those hoping to buy or sell a short-sale home.

From NAR- the National Association of Realtors

The National Association of Realtors® today expressed thanks on behalf of America’s homebuyers to three Senators for introducing a measure to extend the present home-buyer tax credit closing deadline to Sept. 30. They are Senate Majority Leader Harry Reid, D-Nev., and Sens. Johnny Isakson, R-Ga., and Chris Dodd, D-Conn.

“As the leading advocate for homeownership and housing issues, NAR commends these Senators for their attentiveness and sensitivity to thousands of qualified home purchasers, who through no fault of their own, are not able to meet the closing deadline of June 30 for the homebuyer tax credit. Now we urge the Senate and the House to act quickly to pass this legislation and ease the minds and pocketbooks of these homebuyers,” said NAR President Vicki Cox Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz.

The measure was offered as an amendment to H.R. 4213, a tax extension bill now in the Senate.

NAR estimates the number of home buyers who have qualified for the tax credit and met the contract deadline of April 30, but who would not be able to close their transaction by the June 30 deadline, could go as high as 180,000. Realtors® have reported as many as one-third of qualified applicants have been notified by lenders that their mortgages will not close before June 30 due to the sheer volume of applications in the pipeline.

“These are not buyers who just entered into the market. These are buyers who previously met all the qualifications for the tax credit, but find themselves at the mercy of a work-flow jam with the lenders or other delays and might not be able to complete the purchase of their homes,” said Golder. “It would be a tragedy for them not to be able to complete the purchase in time to claim the credit.”

Golder said she also wanted to make this clear: “This amendment does not extend the deadline for home buyers to qualify for the tax credit; it extends the deadline for closing the transaction, from June 30 to Sept.30. Since these applications were already in the pipeline and figured into the program’s cost, the extension of the closing deadline should not incur any further government costs.”

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

With a (mostly) sunny forecast, downtown Grand Rapids is the place to be this weekend to enjoy the 41st Annual Festival of the Arts.  Located throughout the streets of downtown, West Michigan residents and visitors alike will find a plethora of food, entertainment and activities- with a majority of them free.

According to Festival’s official website, http://www.festivalgr.org, Festival is ” a community celebration featuring arts, entertainment, food and fun activities for the entire family. All performances, exhibits and activities are free, thanks to generous donations by local organizations, companies and individuals. Six indoor or outdoor stages with music of all types, plus dance, theatre, and more. Enjoy poetry, films, storytelling, and lots of art activities.

Hours for the events are Friday, June 4 from 12:00-10:00pm, Saturday, June 5 from 10:00am-10:00pm, and Sunday, June 6 from 10:00am-7:00pm.

For more information, a schedule of events, or a map, click here.