Home Energy Tax Credits Expire December 31st!!

Spread the word this holiday season! You only have a few more days left in the month to take advantage of tax credits for energy efficiency home improvements–so ’tis the season to upgrade!
Tax credits up to $500 are available for home owner’s to claim until the end of the year, but they better hurry. Congress has yet to renew the tax credits for 2012.
“Making efficiency improvements this year will lower home energy bills and improve home comfort for years to come, while also reducing 2011 federal income tax bills,” Kateri Callahan, president of the Alliance to Save Energy, said in a statement.
The allowance for the tax credits that home owners may be eligible for include:

• $300 for electric heat pump water heaters, electric heat pumps, central air conditioners, biomass stoves, and natural gas, propane, or oil water heaters.
• $150 for natural gas, propane, oil furnace, or hot water boilers.
• $50 for advanced main air circulating fans.
• 10% of the cost of insulation and sealing materials, exterior doors and certain types of energy efficient roofs.
• 10% of the cost, up to $200, of exterior windows or skylights.

Sign Petition Regarding FERC Overregulation

We would like to ask that if you have not already done so, please go to We the People, a new feature on WhiteHouse.gov, and sign the petition regarding FERC Overregulation. If this petition gets 5,000 signatures by October 28, 2011, the White House will review it and respond!

If a petition gets enough support, the Obama Administration will issue an official response.

You can view and sign the petition here:

http://wh.gov/4V0

·         You must first register and then wait a few minutes for a verification e-mail.

·         When you get the verification e-mail, you will need to click on a link to confirm your registration (if you can’t click on this link, copy and paste it into your browser).

·         You will then be taken to the petition to be included.

Here's some more information about this petition:

CURB FERC regulations, which overreach and overregulate the shorelines of its hydroelectric projects.

The Federal Energy Regulatory Commission is enforcing shoreline management rules decades after hydroelectric projects were first developed. Retroactive rules are irrational, without reason, or scientific basis. The burden of this regulation far out weights any public benefit. The impact on surrounding communities cannot be exaggerated as FERC rules are discouraging private investment, lowering property values, killing jobs, limiting access to project waters, inhibiting landowner’s ability to sell, violating Federal, State and local ordinances, and trampling on personal property rights. FERC is ignoring Executive Order 13563 and the 11 July 2011 supplemental order for Independent Agencies. Wise regulatory decisions depend on careful analysis of the likely consequences of regulation.

Thank you

Maintaining the yard through the winter!

This is the time when people start to want to stay indoors a bit more, especially when the temperatures significantly drop.

You can’t neglect your outdoor patios and decks, especially if you plan to sell soon. Buyers won’t want to see broken-wood decks or corroded wrought iron patio sets in your backyard.
The good news is that if you prepare ahead, you can save yourself time and money. Taking some good housekeeping steps now will allow you to step outside into the fresh spring air next year to a well-preserved outdoor space.
Where to begin? First, if your deck is looking a little worn and tired, make the necessary repairs now. Don’t wait until you can stick your foot through a board (like I did). That’s not only dangerous but it also mandates a quick fix.

Give your deck a good cleaning and sealing or staining before the weather gets too cold and wet to do this. Make sure you check for loose nails and get rid of any splintery edges by sanding them down. Seal with waterproofing sealants. For these, generally the weather has to be above 32 degrees F and 50 degrees F for sealing and stains, respectively, to work properly.

Put the clippers to work. Take a good look around your yard and decide which plants need to go. Many annuals may have been killed by frost and it’s time to clear them away. Keep your flowers keep them looking good by trimming away dead leaves. If you cut your plants back now it will cause them to grow and flower more effectively later on.

Add seasonal plants. You can still have some nice color in your yard if you get the right plants for your yard’s climate. Kale and ornamental cabbage are attractive. In warmer climates try primroses for winter color.
Use creative containers with your seasonal plants. Putting a perennial plant in a beautifully painted container can add style and allure to your patio all winter long.

Plant potted vegetables. Nothing’s better than fresh food especially when it comes from your own yard. There are some cool-weather vegetables that work well in pretty pots. Things like lettuce: kale, leaf, mustard, and Chinese cabbage are good for this. Also, don’t forget herbs; they’ll come in handy for the holiday dinners.

Get artsy. Making your yard look good in winter is also about what you leave outside. Those brightly colored throw pillows and rugs that worked great in summer, of course, should be brought inside. Instead get creative with lights that give a sparkle on a cold winter night. Hang plants with ornaments on them. Also, hang bird feeders to attract birds.

Taking a few simple steps to keep your deck, yard, and outdoor furniture in good condition will give you an easy progression into spring. And, if you’re listing your home for sale in the winter, these steps are sure to please buyers.

Fall Fixups around the house

Fall is a welcome reprieve from the oppressive heat of Summer. It also offers homeowners all across the country a chance to ready their homes for cold weather, hard rains, and all that cold seasons have to offer.
As the seasons change, once again it’s time to perform some home maintenance. Here are 9 yearly tasks that will help keep your household in working order when the temperatures drop.

1. Clean Gutters: Do so frequently. Clogged gutters can result in standing water and roof damage. Plus, if you clean them frequently, you’re less likely to have to deal with decomposing leaves.

2. Mow and trim: It seems counterintuitive, but Fall is a wonderful time to both fertilize and reseed your lawn. A maintained lawn improves a home’s value and saleability. Use this time to trim shrubs and grass one last time so that your yard stands out, even in a dormant season.

3. Prune trees: With Winter comes ice. With ice comes broken limbs. Take advantage of nice weather and cut back or remove precarious limbs. It only takes one heavy snow or ice to weigh down a limb and damage property.

4. Powerwash: Driveways, sidewalks, decks, and patios can get quite grimy during the summer months. Invest in a powerwasher and you’ll be surprised how clean you can get them!

5. Outdoor Living: Some furniture is made to be stored during rainy or snowy seasons. Clear a place in your garage or shed for the items. Consider covering them with a tarp and storing cushions in vacuum seal bags.

6. Heating Systems: Check furnaces and change filters. Not only will it boost efficiency, but it will also save you money in the process.

7. Check for Leaks: Recaulk around windows and doors to help prevent heat from escaping.

8. Fireplace: You don’t want a chimney fire. Be sure to have your chimney swept or cleaned each year.

9. Piping: Check pipes for insulation to prevent freezing and bursting.

Every season holds different responsibilities for a homeowner. Be sure to stay on top of tasks each season to maintain your home’s value!

Real Estate Terminology for First Timers

First time buyers face a learning curve that can feel overwhelming if the right level of support and education is not available. It's not enough to merely educate one's self on buying strategies, mortgage application, and closing process. Buyers must also navigate through a sea of unfamiliar legalese, home building lingo and real estate specific jargon.
The glossary below is by no means complete and is no substitute for the careful guidance of an experienced real estate agent, but it can serve as a good primer for consumers getting their feet wet in real estate for the first time.

Agency - The relationship of trust that exists between buyers or sellers and their agents. The agency is formed via a written contract.

Amortization - The process of paying the principal and the interest on a mortgage through regularly scheduled payments.

Appraised Value - A licensed appraiser's opinion of the current market value of a property.

Assessed Value - A tax assessor's determination of the value of a home in order to calculate a tax base.

Capital improvement - Any improvement that extends the life or increases the value of a piece of property.

Comparable sales - Recent sales of similar properties in nearby areas and used to help determine the market value of a property. Also referred to as "comps."

Contingency - A provision of an agreement that keeps the agreement from being fully legally binding until a certain condition is met. One example is a buyer's contractual right to obtain a professional home inspection before purchasing the home.

Dry Rot - Decay of seasoned wood caused by fungus.

Earnest Money Deposit - A deposit made by the potential home buyer as evidence of good faith that he or she is serious about buying the house.

Easement - A right or interest in the use of the land of another which entitles the holder to some use, privilege or benefit, such as to place power lines, pipe lines or roads.

Egress - The exit point from a property.

Escrow - An item of value, money, or documents deposited with a third party to be delivered upon the fulfillment of a condition. For example, the earnest money deposit is put into escrow until delivered to the seller when the transaction is closed.

Equity - A homeowner's financial interest in a property. Equity is the difference between the fair market value of the property and the amount still owed on its mortgage and other liens.

Fixtures - Those parts of a property affixed to structures or land, usually in such a manner that they cannot be independently moved without damage to themselves or the property housing supporting or pertinent to them. Fixtures are usually included in a sale and commonly include but are not limited to items such as carpets and awnings.

Full Disclosure - In real estate, revealing all the known facts which may affect the decision of a buyer or tenant. A broker must disclose identified defects in the property for sale or lease.

Green building - Also known as sustainable building or environmental building, this definition varies depending on the agency or group. Generally it means to construct a building to the highest environmental standards by minimizing the use of energy, water and materials. A green building, for example, might have skylights, recycled building materials and solar panels.

Ingress - The entry point to a property.

Lien - A legal claim against a property that must be paid off when the property is sold. A mortgage or first trust deed is considered a lien.

MLS (Multiple Listing Service) - An MLS is an organization that collects, compiles and distributes information about homes listed for sale by its members, who are real estate brokers. MLS's are local or regional.

Private mortgage insurance (PMI) - Mortgage insurance that is provided by a private mortgage insurance company to protect lenders against loss if a borrower defaults. Most lenders generally require PMI when the amount borrowed exceeds 80% of the purchase price or home's value.

Plat - A plan, map or chart of a tract or town site dividing a parcel of land into lots.

Subdivision - An area of land laid out and separated into lots, blocks, and building sites, and in which public facilities such as streets, alleys, parks, and easements for public utilities are also planned.

Sweat equity - used to describe the contribution made to a project by people who contribute their time and effort.

Title - A legal document evidencing a person's right to or ownership of a property.

Title company - A company that specializes in examining and insuring titles to real estate.

5 things to know about buying a vacation home!

1. Now is a good time to pounce

In many second-home hot spots, prices are still close to their five-year lows. According to Fiserv, single-home prices in Napa, Calif., for example, are down 24% less than they did in 2006. And though a few hard-hit markets like Las Vegas, & Tucson could fall a bit further, most economists believe the biggest declines are behind us. But if you are around water... the story seems to be different. Sales in places such as Myrtle Beach, S.C., and Palm Beach saw double-digit increases last year.

2. A home may be a better deal if it's rentable

You may think you'll keep the retreat all to yourself, but it's still smart to shop as if you're going to rent the place out. That's because a home's rental potential can affect its resale value. Before you bid on a house, you may want to make sure the homeowners association or township allows short-term rentals (many do not). And keep in mind that renters prefer homes with at least one bathroom for every bedroom.

3. Don't count on rental income to pay your bills

The typical property rents out just 17 weeks a year, says Christine Karpinski of vacation-rental site HomeAway.com. Plus, you'll need to pay for cleaning, maintenance, insurance, and maybe management fees (at least 15% of income).

4. Your loan rate depends on how you use the house

Lenders have raised standards across the board, but they're giving extra scrutiny to vacation homes. Use the property primarily as a second home and you'll pay about the same mortgage rate as you would on a primary residence.

 

5. Tax benefits can be sweet

Rent the house out for two weeks or less and you won't have to report a cent of income to the IRS -- and you can still deduct property taxes and mortgage interest.

Stay there for less than two weeks or 10% of rental days, whichever is greater, and you can deduct operating costs -- everything from cleaning fees and maintenance to linens and repairs -- in addition to interest and property tax. Use and rent a lot? You'll have to allocate the write-offs between personal and rental use, which can get tricky.

Do it Yourself Home Security Check... 5 Easy Steps!

Conduct a do-it-yourself home security check by walking around your house to assess what needs to be done to reduce the risk of a break-in.

1. Keep your home well-maintained on the outside

Burglars want an easy target. Stand on the street outside your house and ask yourself: Does my property look neglected, hidden, or uninhabited? A front door or walkway that’s obscured by shrubbery offers crooks the perfect cover they need while they break a door or window. To improve security, trim shrubs away from windows and widen front walks.

2. Install motion detector lights

All sides of your house should be well-lit with motion-activated lighting, not just the front. Simple motion-activated floodlights cost less than $50 each, and installing them is an easy DIY job if the wiring is already in place.

3. Store your valuables

Thieves want easy-to-grab electronics, cash, jewelry, and other valuables, though some are not above running down the street with your flat-screen TV. Most make a beeline for the master bedroom, because that’s where you’re likely to hide spare cash, jewelry, even guns. 

Tour each room and ask yourself: is there anything here that I can move to a safe deposit box? Installing a home safe ($150 to $500) that’s bolted to your basement slab is a good repository for items you don’t use on a daily basis.

4. Secure your data

While you probably won’t be putting your home computer in a safe anytime soon, take steps to back up the personal information stored on it. Password protect your login screen, and always shut off your computer when not in use (you’ll save energy, too!) Don’t overlook irreplaceable items whose value may hard to quantify, like digital photos.

5. Prepare ahead of time in case the worst happens

• Take a photo or video inventory of items of value in your home, and store the file online or in your home safe.

• Check that you’re properlyinsured for theft. Note that high-ticket items in your home office, such as computers, professional camera equipment, or other business essentials, may require an additional rider or a separate policy.