Wednesday, February 25th, 2009
From: Remodeling magazine 2009 Posted on: February 24, 2009
By: Lauren Hunter
- The newly reinstated federal tax credits for residential energy efficiency makes 2009 the perfect time for American homeowners to evaluate their homes. As part of the American Recovery and Reinvestment Act of 2009 (ARRA), which was signed into law on Feb. 18, 2009, homeowners can receive up to $1500 in tax credits for investments in insulation, exterior doors and windows. By maximizing a home’s efficiency, homeowners can reduce their utility bills and ultimately lessen their impact on the environment. According to the Energy Star program, ensuring adequate insulation and proper air sealing and caulking can save homeowners up to 20% on utility bills. Coupled with the residential energy efficiency tax credits, this can add up to a healthy return on investment.Drawing from more than 50 years of experience insulating homes throughout the United States, CertainTeed Insulation offers the following tips and advice:
- Conduct a home energy audit. An auditor can pinpoint areas where your home loses valuable energy and can suggest ways to conserve heating fuel, hot water, and electricity. Visit www.energystar.gov to locat an auditor in your area.
- Stay on top of rising energy costs. Plan ahead and don’t get blind sided by high utility bills. Organizations like the Alliance to Save Energy offer tools that project upcoming energy costs in your state.
- Know the recommended R-value in your area. In simple terms, R-value is a measure of the insulating power of insulation. Colder climates require a higher R-value to ensure a comfortable, energy efficient home. To determine the right R-value for your area, visit the U.S. Department of Energy Web site.
- Choose the right insulation for the right area of a home. For example, blow-in insulation provides uniform coverage that won’t settle and is perfect for attic areas. Fiberglass batt insulation is a popular option for walls and in below-grade areas, such as unfinished basements.
- Consider the big picture. Proper home insulation equates to less energy usage. Ultimately, this means less fossil fuel is burned to produce energy, resulting in a reduction of polluting gases emitted into the atmosphere. Considering the average home causes the emission of more than twice as much carbon dioxide — the principle greenhouse gas — as the average car, home insulation can go a long way reducing the impact on the environment.
To learn more about tax benefits of the ARRA, visit Internal Revenue Service Web site.
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Friday, February 20th, 2009
Looking for economic stimulus to boost your business? The Federal stimulus package is helping out. With an update to the energy efficient home improvement tax credit, more money is now available for homeowners who improve their insulation, update their boiler or heater with energy efficient models, or, most importantly, replace their old windows and doors with energy saving new ones. The credit has existed for a few years, but had a $200 cap. The cap is now $1500 or 30% of the cost of the products, whichever is lower, per year. This is a powerful way to help homeowners improve their homes. See more details at http://apps1.eere.energy.gov/news/news_detail.cfm/news_id=12248
The bill sets a $1500 cap for a tax credit (total) per year for products placed in service in 2009 and 2010. The credit is for windows doors and skylites with a u-factor of .30 or lower, or a SHGC (Solar Heat Gain Coefficient) of .30 or lower. (American Recovery and Reinvestment Tax Act, Part III, sec 1121,SS-d, (4) )
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Thursday, February 19th, 2009
Builders Launch Tax Credit Web Site
The National Association of Home Builders (NAHB) has launched a newly-designed web site that provides detailed information about the $8,000 tax credit for first-time home buyers that is a key measure in the sweeping economic stimulus legislation signed into law today by President Barack Obama.
“The new tax credit provides a great opportunity for first-time home buyers,” said Joe Robson, NAHB chairman and a home builder from Tulsa, Okla. “Combined with today’s near record low interest rates, the large selection of homes on the market, and very competitive pricing, the tax credit should be the extra incentive needed to get prospective buyers who have been sitting on the fence into the market.”
In addition to being limited to first-time home buyers, the tax credit:
– Is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
– Is available for homes purchased on or after January 1, 2009 and before December 1, 2009.
– Does not have to be repaid.
– Has income limits of $75,000 for single taxpayers and $150,000 for married couples.
The web site at www.federalhousingtaxcredit.com includes basic information about the tax credit and a detailed question and answer section. It also includes information about other housing-related and small business measures in the legislation and a number of home- buying resources for consumers.
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Friday, February 6th, 2009
For those of you considering “Building Green”, There is a major development that may make it easier to move forward. The NAHB (National Association of Home Builders) has been working with ANSI (the American National Standards Institute) to validate their standards for the National Green Building Standard. This process has been completed, and clears the way for a nationally recognized, third party verified, green residential building program. This is big news, as this will likely become the standard of choice nationally for green home building.
The National Green Building Standard is the product of years of debate and discussion among the NAHB, its research branch, the ICC ( international Codes Council), builders, architects and other building professionals, and those at the forefront of the different movements that make up green building. This program was rolled out over a year ago at IBS 2008, but, to put it simply, only the guidelines as to what would be expected, and not the verified measurement of those expectations, was released to the public. This approval clears the way for this program to move forward with credibility and, hopefully, widespread acceptance.
The program’s biggest competitor in green building standards, USGBC’s LEED for Homes or simply LEED-H, is seen by many to be costly and arduous for the builder. Currently the LEED rating systems are the national leader, and will remain the standard of choice for commercial and institutional buildings. NAHB’s National Green Building Standard is, as NAHB says, a more accessible method of green building and certification for residential builders, developers, and homeowners.
This is the beginning of a larger movement towards green home building. Lacking in programs previous was an affordable, easily accessible, format. Also, builders and suppliers have largely been left out of the discussion thus far as LEED is dominated by a design oriented community of architects, academics, manufacturers, urban planners and various governmental agencies. The major decisions in home building are often driven not by the design professional, but by the builder and homeowner, as we all know. This will be a more practical approach to sustainable building for us, and our customer base.
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Tuesday, February 3rd, 2009
Revised data showed that leading economic indicators in December posted their first monthly gain since June. The leading index experienced a 0.30 point gain in December from a upwardly revised November figure. The leading index now stands at 99.50, up from the revised November figure of 99.20. The index is down 2.60 points from its levels six months ago when it was 102.10. The leading index was driven up by injections made by the Fed that increased money supply.
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Tuesday, February 3rd, 2009
Kenneth Mayland, former chief economist at First Pennsylvania Bank and KeyCorp, points out that the U.S. economy already has made or is currently undergoing many of the corrections one sees in a recession: lower spending, leaner inventories, popped price bubbles.
“The big decline in housing is in back of us,” he said, and in all but the most overbuilt places (including Las Vegas, southern California, and Miami), home prices should stabilize by year end.
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