Jessica Lynch

Welcome to Your Monthly Newsletter provided by Jessica Lynch, Your Lifelong REALTOR!

Dear JESSICA,

     It's springtime!  So, spring on that new home purchase.  It's still a great time to buy... especially, for those first-time home buyers!  If you are considering purchasing your first home or know someone who is a first-time home buyer, make sure to read the article in this month's newsletter, "2009 First-time Homebuyer Tax Credit".  Should you qualify, the tax credit can give you up to 8,000!  You won't have to pay back this money if you live in your home for at least three years!  It can be money for a new baby or family vacations! You can safely invest it, add to your kid's college fund or use the funds to help buy your next property!

 

 

     As exciting are the buying prospects this spring, equally exciting is the green movement, which has really picked up speed in the last decade!  This month's newsletter will help you and your family on the path to going green, from energy-saving tips for your home to green incentives.  Below are helpful articles from online leaders of the green movement as well as links to more valuable information and resources.  I hope you enjoy browsing the helpful info and creating for yourself and your family a more fulfilling lifestyle by making green improvements!

 

     Next month's issue will contain more useful green tips and information to help you save energy, money and the planet!  If you're anxious for more green resources, visit the Green Home & Lifestyle page of my website today! 

 

     Let me know if you or those you know might need help meeting real estate goals.  If you have questions, don't hesitate to contact me.  I am always here for you and more than happy to help!

 

 

The Very Best of Success and Happiness to You & Yours! 

 

Jessica Lynch, ABR

Your Lifelong REALTOR

 

2009 First-time Homebuyer Tax Credit

The homebuyer tax credit is one of 10 key provisions of the American Recovery and Reinvestment Act signed by President Obama into law on Feb. 17, 2009.

The bill provides for a $8,000 tax credit that would be available to first-time home buyers for the purchase of a principal residence on or after January 1, 2009 and before December 1, 2009.  The credit does not require repayment.  Most of the mechanics of the credit will be the same as under the 2008 rules:  the credit will be claimed on a tax return to reduce the purchaser's income tax liability.  If any credit amount remains unused, then the unused amount will be refunded as a check to the purchaser.

Chart Highlighting the Major Modifications to the First-Time Homebuyer Tax Credit> (PDF: 309K)

Frequently Asked Questions> (PDF: 483K)

NAR's Presentation: The 2009 First-Time Homebuyer Tax Credit>  (PDF: 319K)

Download the IRS First-Time Homebuyer Tax Credit Form 5405> (PDF: 257K)

 

Source: The National Association of REALTORs (NAR) at www.REALTOR.org.  

Common Home Problems and Solutions

Is your home cold, drafty, or uncomfortable? Do you have high energy bills? Ice dams? Peeling paint? Excessive dust? Addressing these types of home problems can make your home more comfortable, and at the same time improve its energy efficiency - saving you money on utility bills and helping to protect the environment too.

High Energy Bills

High utility bills in summer and winter can often be traced to air leaks in your home's envelope, inefficient windows or inefficient or incorrectly installed heating and cooling equipment, or poorly sealed and insulated ducts.

Mold, Mildew or Musty Odors

Water leaks or high humidity can lead to mold and mildew. This can cause wood rot, structural damage, peeling paint, and a variety of health problems. Often, high humidity in homes with central air conditioners can be traced to improperly sized or installed air conditioners.

Damp Basement

A damp basement is commonly caused by moisture migrating through the foundation. As this moisture evaporates, it increases indoor humidity and can promote the growth of mold - resulting in an uncomfortable house.

Cold Floors in Winter

Some types of floor coverings (such as wood, stone, tile, or concrete) will naturally feel cold on bare feet. However, insufficient insulation or air infiltration can also cause cold floors.

Drafty Rooms

Cold air coming into or going out of your house, especially through leaks hidden in the attic and basement, can cause rooms to feel drafty and uncomfortable.

Dust

Increased dust could be a sign that it is time to change your air filter or that your ductwork is not well sealed.

Moisture on Windows

Inefficient windows or high indoor moisture levels from air leaks can result in condensation, frost, or pools of water on windows and sills.

Ice Dams

Warm air inside your home leaks into the attic and will warm the underside of the roof causing snow and ice to melt and refreeze as it runs off your roof - forming icicles and ice dams.

Peeling Paint

Peeling or cracking paint on your home's exterior may be a sign of a humidity problem or improper paint application.

Hot or Cold Rooms

Significant differences in temperature from one room to another could be caused by several factors, including inadequate insulation, air leakage, poor duct performance, and improperly installed heating, ventilation, and air conditioning (HVAC) system.

Dry Indoor Air in Winter

Air leaks in your home allow warm humid air to escape and draw in drier colder air.

Helpful Tools & Resources

Heat Smartly with ENERGY STAR @ home

Use the Home Energy Yardstick to Measure Your Home's Performance

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Check out more helpful articles at www.energystar.gov like these:

Heating & Cooling Efficiently

Do-It-Yourself Guide to Sealing and Insulating with Energy Star

Tips for Homeowners from the Governor's Energy Office

The Governor's Energy Office (GEO) of Colorado offers a number of resources and programs to help Colorado residents bring the New Energy Economy home. Use this section as your guide to the GEO website, and as a roadmap for your personal energy conservation action plan.

Take Action, Save Money
Taking part in the New Energy Economy can be simple AND save you money. There are several sections on this website that include information about ways you can conserve energy:

• Green Tips Checklist - a checklist to help you make green choices every day.
• Home Energy Conservation Checklist - a simple checklist to help you save energy in your home.
• Efficiency in the Home -in depth information about energy efficiency measures in the home. Topics include insulation, lighting, space heating and cooling, appliances and more.
• Renewables - information about renewable energy technologies including solar, wind, geothermal, biomass and biofuels.

Resources
GEO aims to connect Colorado residents with the experts and organizations that are pioneering a New Energy Economy. This website includes information about energy organizations, financial incentives, energy policy and educational opportunities:

• Glossary of Terms - definitions of frequently used energy terms.
• Event Calendar - a list of sustainability events and workshops.
• Your Utility - information about Colorado's utility companies.
• Energy Policy & Legislation - information about Colorado energy legislation.
• Links - a list of other energy and sustainability websites.

GEO Programs & Incentives
GEO partners with local governments and organizations to implement its programs and incentives. As a Colorado resident, your first step in participating in GEO's programs is determining whether or not the program is being offered in your area, and if so, who you need to contact to determine whether or not you are eligible. This information can be found on each program's website page:

• Insulate Colorado Program - offers rebates to qualifying homeowners for the installation of insulation and air sealing measures in existing homes.
• ENERGY STAR New Homes Program - supports the statewide construction and testing of new energy efficient single family homes built to ENERGY STAR standards.
• Energy $aving Partners Program - free energy efficiency services for income-qualified households.
• Residential Solar Rebate Program - rebates for homeowners wishing to install a solar electric or solar domestic hot water system on their home.
• Small Wind Incentive Program - rebates for small wind turbine installations.

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Visit the Governor's Energy Office online at http://www.colorado.gov/energy/ for much more energy-saving and money-saving information for you and your home.

Colorado's Solar Rebate Program

The Governor's Energy Office (GEO) is pleased to offer a Solar Rebate Program to homeowners and small businesses wishing to install a solar electric or solar domestic hot water system. The GEO has provided matching grants to select local Program Partners with the goal of developing local solar electric and solar domestic hot water system rebate programs.

The next round of rebates will be available to residents and businesses through local Program Partners in February, 2009.

Solar Electric
Once energy efficiency has been optimized, grid-tied, net metered solar photovoltaic (PV) systems offer the option to further offset electricity costs. Grid-tied PV systems allow the owner to send excess energy back into the grid and benefit the owner by mitigating the susceptibility to fluctuations in the price of electricity. In addition, distributed solar electric systems decrease the demand for electricity generated from centralized fossil fuel plants, which leads to reductions in greenhouse gas emissions.

• The Solar Rebate Program offers rebates of up to $9,000 per solar electric system ($4,500 from the GEO and $4,500 from the local Program Partner) to qualified homeowners.
• Rebates of up to $15,000 per system are available to small businesses.
• Only residential and small business, grid-tied, net metered systems are eligible.
• The GEO Solar Electric Program is not available in Xcel Energy and Black Hills Energy service territories. These utilities offer their own rebate programs for solar electric systems.
• Xcel Energy customers should visit the Xcel Energy website for more information.
• Black Hills Energy customers should visit the Black Hills Energy website for more information.

·         Solar Electric Program participants are required to demonstrate that an energy audit has been performed prior to system installation.

·         The rebate is available statewide through local Program Partners.

Solar Domestic Hot Water
Solar heated domestic hot water is perhaps one of the most cost effective ways to incorporate renewable energy into a home or business. In the average Colorado home, up to 15% of the annual energy consumed is used for domestic water heating. By using solar energy to heat domestic water, homeowners and businesses can significantly reduce their water heating costs while also mitigating the consumption of fossil fuels.

• The Solar Rebate Program offers rebates of up to $3,000 per system ($1,500 from the GEO and $1,500 from Program Partners) to qualified homeowners.
• Rebates of up to $9,000 per system are available to small businesses.
• Only small business and residential, domestic hot water systems are eligible.
• Space heating applications are not eligible.
• The rebate is available statewide through local Program Partners.

Orphan Solar
Many solar systems installed during the 1970s and 1980s have fallen into disrepair or have been taken off-line. The Solar Rebate Program offers rebates for repairs made to these systems to provide homeowners with an incentive to re-commission these older systems.

• The Solar Rebate Program provides rebates of up to $3,000 ($1,500 from the GEO and $1,500 from Program Partners) to qualified homeowners.
• Domestic solar hot water and space heating applications are both eligible within this program.
• The rebate is available statewide through local Program Partners.

How to Participate
This is not a direct rebate from the state. The GEO has partnered with the Colorado Solar Energy Industries Association (CoSEIA) and local Program Partners to administer the program. If you are a homeowner or business owner, here's how you can participate:

1) Review the program guidelines on CoSEIA's website.

2) Determine if you reside in an eligible jurisdiction, and who your local Program Partner is. The GEO has partnered with local Colorado Partners to implement the Solar Rebate Program. See a list of participating jurisdictions on CoSEIA's website. Contact your local Program Partner to confirm your eligibility and to determine your next steps.

What if the program isn't being offered in my area?
If you don't see your area on the participating Program Partner list, contact your local elected officials and ask them to contact your GEO Regional Representative about the Solar Rebate Program.

If you represent a municipality, utility or non-profit organization and are interested in becoming a Solar Rebate Program Partner, please complete and submit the Interest Form available in the Partnership Opportunities section of this website. Submission of the Interest Form informs the GEO that you are interested in scheduling a follow-up meeting to discuss the program in more detail, and is not a commitment of partnership.

Information for your GEO Regional Representatives can be found in the Contact Us section of this website.

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Visit the Governor's Energy Office online at http://www.colorado.gov/energy/ for much more energy-saving and money-saving information for you and your home.