Norma Crouse

Who's eligible for the $10,000 deal?

Part I: $7500 Tax Credit

The first time homebuyer tax credit was recently introduced in August of 2008 and available for homes purchased between August 9, 2008 through July 1, 2009.
Here is the, "at a glance" version of the credit...

• The tax credit is available for first-time home buyers and those who have not owned a principal residence in the last 3 years.
• The maximum credit amount is $7,500.
• The credit is available for homes purchased on or after April 9, 2008 and before July 1, 2009.
• Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.
• The tax credit works like an interest-free loan and must be repaid over a 15-year period.
• The tax credit must be repaid. Home buyers will be required to repay the credit to the government, without interest, over 15 years or when they sell the house, if there is sufficient capital gain from the sale. For example, a home buyer claiming a $7,500 credit would repay the credit at $500 per year. The home owner does not have to begin making repayments on the credit until two years after the credit is claimed. So if the tax credit is claimed on the 2008 tax return, a $500 payment is not due until the 2010 tax return is filed. If the home owner sold the home, then the remaining credit amount would be due from the profit on the home sale. If there was insufficient profit, then the remaining credit payback would be forgiven.
• In general, the tax credit is equal to 10% of the qualified home purchase price, but the credit amount is capped or limited at $7,500. For most first-time home buyers, this means the credit will equal $7,500. For home buyers purchasing a home priced less than $75,000, the credit will equal 10% of the purchase price.

If you have further questions, we strongly encourage you to seek the assistance of a qualified tax professional. For complete information on the program please visit www.federalhousingtaxcredit.com .

Part II: About The $2,500 Real Living Incentive

Buyers who purchase a home featured in the Citywide House Hop are eligible to receive up to $2,500 when upon closing.
Here is how you qualify:

• Buyers must purchase of one of Real Living HER's Citywide House Hop homes
• Buyers must be in-contract on a home prior to November 5th, 2008 and close prior to December 31st, 2008
• To be considered in-contract you must have a mutually accepted agreement with the seller of a Citywide House Hop home
• Buyers must utilize Real Living Mortgage for financing
• Buyers must close using Real Living Title

When you qualify:

• Buyers can receive up to 1% credit in closing costs and prepaid items on their first mortgage, with the purchase of a Citywide House Hop Open House.
• Borrowers must close their loan through Real Living Mortgage, subject to qualification, approval, and closing with Real Living Title.
• Credit amount will not exceed closing fees resulting in cash back ... and cannot exceed $2,500.

This offer cannot be combined with any other first mortgage incentives. Not available on Ohio Bond loans. All first mortgage products are offered and provided by Real Living Mortgage, LLC. Equal Housing Lender

http://www.realliving.com/norma.crouse/OpenHouseList.asp

All you see and hear about lately is the presidential election. I do think that everyone needs to know where the candidates stand but if you really think about it does the president really decide anything? I really believe the president is just a figurehead and if no one in congress backs him up on anything nothing gets done. I really think people need to know more about who they elect into congress. I don't think that I have ever really looked at that like I should. I have wondered if other people are like me? I have also noticed alot of people seem to vote all the same thing for the candidates. Some people are just republicans and some are just democrats and no matter what the people stand for they do not care that is how they are going to vote. America is not doing the greatest right now, in case you haven't noticed and I think and pray that americans will really look at the actual candidates before they place their vote. We really need a change if we are going to succeed!!

I don't know if anyone has noticed this but I was out driving around today looking at homes and I noticed this older man blowing his leaves out of his yard into the street and into his neighbors yard. I don't know why so many people do that? I guess the leaves aren't that bad since I am not his neighbor but when the snow comes I have noticed the same thing. I don't understand why people think that it is ok for them to shove their snow out into the road to cause a hazard for drivers. Some people are just not considerate of others!

At its heart, real estate is a business of information. A Realtors job is to gather, understand and convey that information. It's what makes you an expert in the field. You can spend every hour of your working day processing information. You can know your market area cold, able to spew out even the smallest market detail in a second.

For a Realtor, the rubber meets the road when a hot prospect is interested in the information they possess. So what possible reason could there be to give away hard earned expertise for free? The biggest reason is that it's the surest way to build your business. What good is the ability to spew out the data if you have no one to spew it out to?

Being an expert and establishing yourself as an expert are two different things. When you establish yourself as an expert, you will attract prospects to you. In the community, the Realtors that get the business are the ones who have established themselves as experts. They've branded themselves as a trusted source of information. They did so by giving away their expertise.

Giving away expertise is a technique that has been used by internet marketers for some time. They call it the pink spoon. Attract interest in your product, you, by developing a giveaway that establishes you as an expert. It's a concept that Realtors can use to their benefit too.

Sharing your expertise with the community is how you develop your pink spoon. It's what will separate you from all the other choices consumers have when time comes to buy or sell. It's like this. When consumers look to participate in the real estate market they have limited sources with which to research realtors.

Consumers want and look for the best service they can find. But unfortunately they don't often have the resources they need to make the best decision. They may have a refrigerator magnet with a number, there may be a sign down the street they can check into and maybe they'll ask their family. But wouldn't it be nice if you were positioned in their minds as the local expert. Who do you think they'd call then?

If you've become aggressive in placing yourself in the local market, chances are your name will come up when consumers start to search. But being aggressive means more than putting your listings and name in the homes book once a month. Even there, your one in many Realtors consumers can choose from.

The trick is to stand out. The key is to find the outlets to stand out in. In real estate those outlets are mailings, advertorials, local newspaper columns and internet advertising campaigns. In each of these outlets you are marketing your expertise. You give away your information and knowledge so that prospects are naturally attracted to you when the buying or selling time comes.

But even if you do stand out, you still need to deal with the competition. And the competition comes in varying forms these days. In many markets there is tremendous pressure to lower listing fees. When I first got into the business the fee was traditionally 7%. Recently in my market it has become 6% and is heading down. It is becoming harder and harder for most Realtors to sell value for service.

You need to give ample reason to earn the higher fee. One way of doing this is to establish your expertise in advance. The way to do this is marketing. I'm talking specific marketing with the intent of building your value beforehand. This marketing comes by way of sharing your expertise with the community.

A good example would be the difference between a buffet steak house and a premier steak house. Sure they both sell steak, but which one has the higher value. Steak is steak at the end of the day, but the premier steak house has established itself as superior brand. They command more money.

When Realtors work in the community they face many marketing challenges. Among them are perceived depreciation of a Realtors value, increased competition and in some places stagnating market conditions.

In order to compete more effectively, Realtors must position themselves as experts in their field. The best way to do this is to give away targeted expertise in as many outlets as possible.

Staying warm doesn't have to cost a fortune. Here are some ideas from the U.S. Department of Energy for conserving heat and saving money.

When the leaves start falling, you know that the heating bills are about to start rising. But keeping your home warm and cozy on chilly autumn nights doesn't have to break the bank.

The U.S. Department of Energy offers these simple tips and relatively inexpensive home improvements that will help ensure cold gusts stay out and your furnace doesn't have to work harder than it should.

The goal: Conserve energy and keep more of your hard-earned dollars in your pocket.

Share these ideas with customers and use them for your own house. After all, who doesn't need to save a little money these days?

1. Plug air leaks with caulking, sealing, or weather stripping. Save 10 percent ($190 per year) or more on energy bills. Focus on windows, doors, outlets or switch plates on exterior walls.

2. Properly maintain the heating system. Heating accounts for half the average family's energy bill (approximately $950 per year). Make sure the furnace or heat pump receives professional maintenance each year. The small cost (about $75-100 for most service calls) will pay back in better performance all year long.

3. Install a programmable thermostat. Programming the thermostat from 72ºF to 65ºF for eight hours a day while no one is home, or everyone is tucked in bed, will cut the heating bill up to 10 percent ($90 per year), paying for a basic unit in less than a year.

4. Seal and insulate heating ducts. A system can lose up to 60 percent of its warmed air before it reaches the register (wasting $570 in warmed air per year) if ducts are not properly insulated in unheated areas such as attics and crawlspaces.

5. Insulate, insulate, insulate. Adequate insulation in the attic, ceilings, exterior and basement walls, floors, and crawlspaces can save up to 30 percent on home energy bills ($630 per year). Focus on the attic. (Heat rises.) Most homes should have between R-30 and R-49 insulation in the attic. Learn more at www.eere.energy.gov/consumer.

6. Close fireplace dampers when not in use. When in use, reduce heat loss by opening dampers in the bottom of the firebox (if provided) or open the nearest window about an inch, close doors to the room, and lower thermostat setting to 50-55ºF.

7. Let the sun shine in. Open curtains on south facing windows during the day to allow sunlight to naturally heat the home, and close them at night to reduce the chill from cold windows.

8. Stay out of hot water. Water heating accounts for 15 percent of household energy use. Reduce water heating costs by lowering the water heater's thermostat setting. Each 10ºF reduction can save between 3-5 percent in energy costs. Also insulate the hot water heater and hot water pipes.

9. Install storm windows over single-pane windows or replace them with Energy Star qualified windows. Storm windows reduce heat loss by 25 to 50 percent, and storm windows with low-e coating that reflect heat back into the room during the winter months save even more energy. Look for the Energy Star label to maximize savings. Energy Star qualified windows reduce heating and cooling bills by an average of $345, but could be higher in cold and hot climates, compared with uncoated, single-pane windows. Can't afford new windows just now? Tape clear plastic sheeting to the inside of window frames if drafts, water condensation, or frost are present.

10. Net big savings with a little label. When replacing appliances, light bulbs, electronics, or heating and cooling systems, cut energy bills by up to 30 percent ($600 per year) with Energy Star labeled products. Use compact fluorescent light bulbs (CFLs) in place of comparable incandescent bulbs. Find retailers at www.energystar.gov.

These and other improvements that impact the energy efficiency of a home can save home owners money in the short term and serve as a selling point to potential buyers later. Be sure to save receipts, documentation, and manufacturer's information.

Not sure where to begin? Try the Department of Energy's online energy audit tool at www.hes.lbl.gov. In the long run, a whole-house energy audit is a fool proof way to make a plan to address wasted energy and make a home operate efficiently for years to come. Visit www.natresnet.org to find a qualified auditor in your neck of the woods.