SDG&E Warns Rates Will Be Rising

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San Diego Gas & Electric is warning heavy users of home electricity that their utility bill will increase disproportionately at the end of August.

SDG&E recently was granted a 7.6 percent revenue increase. The change is retroactive to the start of 2012, so many bills will rise even more to catch up.

Most customers won’t see much of a change. Those who use significantly more than the average household — one-quarter of customers in San Diego and southern Orange counties — can prepare to pay a lot more, by SDG&E’s estimate.

Will making your home energy efficient keep your rates down and add value to your home?  Contract the appraisers at www.scappraisals.com for your value questions.

The utility is distributing advisories to those customers on measures they can take to conserve power and otherwise prepare for the changes.

Under a complex rate formula, a coastal customer using 400 kilowatt hours of electricity can expect to see their bill increase by $5 to $91, while an 800-kilowatt customer would see an increase of $56 to $255. Prices vary, depending on what climate zone a consumer lives in — coastal, inland, mountain or desert.

The average utility customer uses about 500 kilowatt hours per month.

Before the new rate increase, SDG&E’s residential rates led the state among major investor-owned utilities and major municipal utilities such as Los Angeles Department of Water & Power and the Imperial Irrigation District, according to the Energy Information Administration, a statistical arm of the Energy Department. California ranks ninth in the U.S. for residential electricity prices.

Days may be numbered for the state’s current rate structure, under which the price per kilowatt hour can double as the customer uses more power in any given month.

Read more at: http://www.utsandiego.com/news/2013/jul/02/tp-big-electricity-users-get-walloped-on-bills/

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Do Your Homework before Refinancing

With ultralow mortgage rates now starting to creep up, some homeowners might be thinking that it’s finally time to refinance.

Despite six weeks of steady increases, fixed rates eased this week and are still below 4 percent. That means borrowers who have higher mortgage rates may still be able to take advantage of savings.

Have questions about the appraisal process; contact the appraisers at www.scappraisal.com

Refinancing originations nationwide totaled $1.5 trillion last year but are expected to fall this year to $1.1 trillion due to rising mortgage rates, said a projection from mortgage giant Freddie Mac this week.

Figuring out whether to refinance a loan can sometimes be difficult. Several factors should be considered, from length of the existing mortgage to the borrower’s financial goals.

“Make sure you’re not refinancing just because your neighbor is refinancing,” said Todd Pianin, president and founder of Samuel Scott Financial Group, a boutique mortgage company in San Diego.

How do you know if refinancing is the right choice? Here are six questions to ask yourself:

Q:Where am I with my existing loan?

A:Homeowners who refinance can get a new mortgage with longer, shorter or the same terms. Those who have a 30-year fixed mortgage can refinance into a 15-year fixed loan, or vice versa.

Extending the term could result in a lower monthly payment but may result in paying more over time because the payments are stretched out, said Gabe del Rio, chief business officer of Community HousingWorks. The San Diego nonprofit group provides housing counseling.

Shortening the term could result in higher payments each month but it would shave off interest over time.

Also, consumers should figure out how long they’ve been paying their existing mortgage to see how much principal and interest has already been paid, said Pianin, the mortgage broker. A borrower who’s in year 20 of a 30-year fixed loan generally shouldn’t refinance because most of the payments are going toward principal.

Read more at: http://www.utsandiego.com/news/2013/jun/22/tp-balancing-pros-and-cons/all/?print

Honda Smart Home at UC Davis

Sustainable Honda Smart Home

Sustainable and high-tech, Honda Smart Home US will be a showcase for environmental innovation, demonstrating Honda’s vision for zero-carbon living and personal mobility. A vision of a lifestyle of renewable energy for home and transportation, HSH will feature new technologies to greatly reduce the amount of energy consumed by individual households, including the use of solar power to charge a Honda Fit EV battery electric vehicle.

Located on the campus of the University of California, Davis, HSH will use less than half the energy for heating, cooling and lighting than a similarly sized home in the area. In fact, HSH is designed to produce more energy than it consumes, while allowing its residents to remotely monitor and adjust all aspects of energy use in real time.

Does going green add value to your home in San Diego?  Contact the appraisers at www.scappraisals.com for your residential real estate appraisal questions.

For the better part of three decades, we have been working to advance our environmental technology—not just for our vehicles, but also the energy production and distribution systems that are just as important for the long term. With a low CO2 footprint, state-of-the-art energy management and the direct photovoltaic (PV)-to-car charging system, HSH is a working example of this research.

Read more at: http://corporate.honda.com/smarthome/