Ways to decrease your homeowner’s insurance
I f you are a homeowner, you also have homeowner’s insurance to protect your home and valuables. Insurance premiums can vary according to location, and often times can be costly. But there are some simple things you can do to lower your rates and save money: 1. Install a home security system Home alarm companies recognize that home security systems reduce theft and home invasions. By installing a home alarm system with a monitoring service you can lower your homeowner’s insurance premiums by up to 20%. Check with companies such as ADT, Broadview Security or APX Alarm who all offer premium reductions. 2. Install additional smoke alarms New homes come with smoke alarms, but by installing additional smoke alarms in older homes, you can reduce your...
Home Buyer Tax Credit could be extended
C ongress is working on a plan to extend and expand the home buyer tax credit which will cost taxpayers $10.8 billion dollars. More details include: $8,000 tax credit is available for first-time buyers or those who have not owned a home for 3 years. Homeowners who buy a new principal residence after living in their current home for at least the last five years can claim up to $6,500. Credit is available for homes that go under contract by April 30, 2010 and close within 60 days after that Income limits are $125,000 a year for individuals and $225,000 a year for married couples. The plan will include anti-fraud measures such as minimum age requirements and additional authorities for the IRS If you are a first-time homeowner, don’t wait for Congress to...
Question and Answer: Foreclosure Stripping
Q : Hi Anthony: Recently my neighbors’ house was foreclosed on, and we got into a debate when they said they were going to strip the house of the light fixtures, ceiling fans and appliances. I told them that this was illegal, but they disagreed. What can owners take from a foreclosed home? Mary L. in Chandler, AZ A: Mary, Your neighbors could face prosecution if they decide to strip their home. Not only is it considered a felony in Arizona, but it morally wrong. The following is a list of items that must stay in the foreclosed home: Appliances such as built in microwave, dishwasher etc. Cabinets and counter tops Furnaces and air conditioning units Plumbing and copper pipes Electrical wiring Light fixtures and ceiling fans Doors and hardware Flooring such...
Signs that housing industry is on the rebound
A ccording to the National Association of Realtors, pending home sales rose 6.4 percent, more than doubling gains in July. This was the seventh gain in a row. The growth is contributed to declining home prices, government stimulus programs and low mortgage rates. In the West, pending sales rose 16 percent and home values in 20 metropolitan cities climbed in July by the most in 4 years. All indications show that people are getting back into the market and the housing market is on the slow road to recovery.
Arizona Residential Incentives for Renewable Energy
T he residents of Arizona can take advantage of seven financial incentives for using renewable energy: 1. Green Building Incentive – The Green Building incentive was created to encourage environmentally responsible building. If you live in Scottsdale or Buckeye and build your home to the green standards given in the Green Home Rating Checklist, you can be eligible for an array of benefits including expedited plan review and free promotional green building materials In Tucson, there is a Permit Fee Credit for installing solar energy systems. 2. Personal Deduction – A personal deduction is available for biomass wood stoves that convert and existing wood stove into one which meets new industry standards. The maximum deduction for this incentive is $500. 3....
Investors Help Stabilize The Real Estate Market
R EALTORS® are seeing more and more bank-owned properties go into multiple offers. Unfortunately for them, and their clients, many of these properties are sold to investors and not first-time buyers hoping to find a great deal. Many times, banks choose to sell to investors over buyers becuase the investor can make a cash payment. This situation has led to some negative feelings toward investors, especially when they come into an area, buy up a large amount of properties in and don’t use Realtors to relist the properties once they are flipped. Pat Palmer has another view, and shares why we need good investors in the market: “We need to have more investors in the market and we need them flipping properties. There, I said it. I know it won’t be long...