New Listings from Beach to Bay
|
||||||||||||||||||||
|
||||||||||||||||||||
|
|
|||||||||||||||||||
February 19, 2010
Home Improvement Tax Benefits for 2010
For your clients, going green pays and saves. According to a study by the Joint Center for Housing Studies of Harvard University, for every dollar decrease in annual home energy expenditures, house values increase between $11.63 and $20.73.
Also, going green can lower the tax bill. New federal tax credits are now available for green home improvements on a principal residence. Qualifying modifications must meet a certain energy efficiency level to be eligible for the credit.
The credits are available for improvements purchased and in service from January 1, 2009, through December 31, 2010. The amount of the credit is deducted from any income taxes the homeowner may owe. The credit is nonrefundable, allowing taxpayers to lower their tax liability to zero, but not below zero.
Tax credits are available at 30% of the cost, up to $1,500, in 2009 through December 31, 2010 (for existing homes only) for:
- Windows and Doors
- Insulation
- Roofs (Metal and Asphalt)
- Heating, Ventilating, and Air Conditioning (HVAC)
- Water Heaters (non-solar)
- Biomass Stoves
Tax credits are available at 30% of the cost, with no upper limit through December 31, 2016 (for existing homes and new construction) for:
- Geothermal Heat Pumps
- Solar Panels
- Solar Water Heaters
- Small Wind Energy Systems
- Fuel Cells
Make sure your clients purchase products that come with a Manufacturer Certification Statement — a statement from the manufacturer that indicates the product qualifies for the tax credit. For record keeping, experts advise that homeowners retain all receipts.
Additional details can be found at www.energystar.gov/taxcredits and www.homedepot.com/taxcredit
December 21, 2009
6 Tips to Survive the holiday season
RISMEDIA, December 12, 2009—Are you wondering how to survive this holiday season? Do you get caught up in the fast pace to the point of stress and exhaustion? What if, this year, you could create exactly what you want? How about transforming stress into joy? How about making more money, instead of going in the hole?
Here are seix tips to help you thrive this holiday season- financially, emotionally, and energetically.
Tip 1- Reclaim your right to have your own unique version of the holidays.
What is the essence of this season for you? For me, it’s about the joy of giving. Guess what the essence of successful marketing is? You’re right, it’s also about giving your service with joy. The more you love what you’re doing and the more generous you are, the more clients, thus income, will be drawn to you. Each time you market yourself, remember: “You have a unique gift to give—you!” Remember to share this gift with enthusiasm, all year long.
Tip 2- Increase your self care and self maintenance.
Do you want to be healthy this whole holiday season? Are you ready to commit to it? If so, be aware that you are taking time for yourself so that your physical, emotional, mental and spiritual needs are being met. Are you taking “down time?” Are you surrounding yourself with positive people? Are you aware to keep your self talk supportive and encouraging?
Tip 3- Do things that give you joy.
Martha Beck writes in her book, “Finding Your Own North Star,” that there are two rules about joy. The first rule is “Do things that give you joy.” The second rule is “No, really, do things that give you joy.”
Tip 4- Start learning about the Law of Attraction.
What is the Law of Attraction? The bottom line answer is that like attracts like and you get what you focus on. So when you’re thinking of the New Year, are you focusing on what you don’t want or focusing on what you do want? If you focus on your fear of not having enough clients or money, then what you’re likely to get back is not enough clients, or not enough money.
Instead, train your mind to ask the question, “So, what do I want?” Focus on your wants to the point where you can feel yourself having those wants satisfied. What do you get back? More of your wants being satisfied.
Tip 5- Turn your Resolutions into Intentions.
Did you know that 99% of people forget their resolutions by the end of January? Instead of being one of the casualties this year, focus on your intentions, rather than resolutions.
To quote Wayne Dyer from his book The Power of Intention, an intention is not so much of a strong purpose or aim, but rather, “a field of energy that flows invisibly beyond the reach of our normal, everyday habitual patterns”….. “We have the means to attract this energy to us and experience life in an exciting new way.” I invite you to “try on” this new perspective as you plan your New Year.
Tip 6- Take time off; rejuvenate and enjoy.
If you design your own unique version of the holidays, remember to schedule in time to do nothing. For most of us, that is a concept way outside our realms of thinking. Let’s face it, we have been programmed to be human doings rather than human beings. This holiday season, do yourself a favor and commit to spending some time just “being.” Try it, you might like feeling like a human “being” instead of a human “doing.”
June 15, 2009
November 7, 2008
6 Key Facts About the First-Time Buyer Tax Credit
The tax credit may be enough of an incentive for potential buyers to jump off the fence. That is, if they know about it.
The $7,500 home ownership tax credit that the federal government created earlier this year as part of the Housing and Economic Recovery Act (H.R. 3221) is another tool at your disposal to encourage potential buyers to jump off the fence and get into the real estate market.
When you combine the tax credit with today’s low interest rates, wide selection of for-sale inventory, and affordable home prices, many of the pieces are in place for your customers to buy now. But tax credits can be confusing. To help your clients understand how the credit works and why it would help them, you must learn the details.
Here are 6 things you should be able to explain to prospects and clients:
1. Buyers have until July 2009 to make a purchase that qualifies.
The tax credit was passed in July of this year as part of the Housing and Economic Recovery Act (H.R. 3221). It’s worth up to $7,500 and can be taken in a single tax year. Authorization for the credit ends July 1, 2009, so if your customers wait to buy in the first half of 2009 they can take the credit on their 2009 tax return. Taxpayers can take the credit on their 2008 tax return if they bought their house this year after April 9.
2. Buyers don’t really have to be “first-timers.”
The tax credit is actually available to any individual or household that hasn’t owned a home for at least three years. And the NATIONAL ASSOCIATION OF REALTORS® has asked Congress to expand the credit to all buyers, not just those who haven’t owned a primary residence in recent years.
3. Even if buyers exceed the income limit, they can benefit from the credit.
The actual credit amount is set as a percentage of the home purchase amount. That percentage amount is 10 percent, so your customers can get 10 percent of the home price credited against their tax liability, up to a maximum $7,500. Sounds like a great deal. But what if your clients make more money than the income limit of $75,000 for individuals and $150,000 for households? Good news: Individuals whose income exceeds the $75,000 limit but don’t make more than $95,000 can still take the credit but on a reduced basis. The same thing applies to households earning up to $170,000. By the way, any house is eligible as long as it’s a primary residence and is in the United States.
4. Think of it as an interest-free loan.
The federal government requires the tax credit to be paid back in small, 6.67-percent increments over 15 years, although repayment will be no more than $500 yearly and payments will not start until 2011. For that reason, some analysts have likened the credit to a 15-year, interest-free loan to help make home buying affordable. NAR is pushing congress to remove the repayment provision, making this tax credit a true tax credit rather than an interest-free loan.
5. You don’t have to be authorized before making a home purchase.
There is no pre-purchase authorization, application, or other approval process. Eligible buyers simply have to claim the credit on their IRS Form 1040 tax return and/or any form that the IRS might devise.
6. New-home construction qualifies.
For a home that a buyer constructs, the purchase date is the first date the buyer occupies the home.However, any home that is not a primary residence, such as a vacation home or income property, does not qualify.
NAR Asking Congress to Expand Credit
As mentioned above, NAR has asked Congress to do away with the repayment provision of the first-time buyer tax credit and expand the credit to all home buyers, not just first-timers. The proposals were part of a four-point housing stimulus plan the association submitted in mid-October.
“Housing has always lifted the economy out of downturns, and it is imperative to get the housing market moving forward as quickly as possible,” said NAR President Richard F. Gaylord. “It is vital to the economy that Congress take specific actions to boost the confidence of potential homebuyers in the housing market and make it easier for qualified buyers to get safe and affordable mortgage loans.
By Robert Freedman, Realtor Magazine, November 2008