Troy Erickson - Chandler, Gilbert, Queen Creek, Phoenix, AZ and East Valley Team

Okay, here are some answers to the new tax credit (up to $8,000) for first time homeowners. Many people have been asking questions, so here are the answers.

First of all, a tax credit is completely different from a tax deduction. With this tax credit, you get a dollar-for-dollar decrease in the amount of taxes you owe. A tax deduction is a decrease in taxable income, which is what you are taxed on. Of course, a tax credit is much better.

To qualify for this tax credit (up to $8,000), you must be considered a first-time homebuyer. The federal government defines a first-time homebuyer as anyone buying a home to use as their primary residence, that have not owned another primary residence within the preceding three years. If you own a rental home or a vacation home, but do not own a primary residence, you would still qualify. Married couples only qualify if both have not owned a primary residence within the preceding three years, but unmarried co-purchasers qualify if at least one of you fits the criteria.

How the tax credit works is it is good for 10% of the home's sales price, up to $8,000. So, if you purchase a home for $80,000 or more, if you qualified, you would receive the full $8,000 tax credit. The buyers modified adjusted gross income can be no more than $75,000, or a combined $150,000 if married. If your income is greater than these amounts, you can still receive partial credit, but it gets smaller as your income increases. You also do not have to be a US citizen to qualify for the tax credit, as long as you live in the United States.

The time period you will qualify for in buying a new primary residence is from January 1, 2009 through December 1, 2009. If you already applied for the $7,500 temporary tax credit, you can still apply for the $8,000 tax credit by filing an amended tax return using the 1040X form.

This $8,000 tax credit is a refundable credit. That means if you owe less in taxes than the tax credit, you will actually receive a check for the difference from the IRS. If you owe no taxes from income, and you qualified for the full $8,000 new homebuyer tax credit, and filed your taxes, then you would receive a refund check for the full $8,000.

The best part about the $8,000 tax credit is you can actually apply for it against your 2008 tax return. The law allows you to treat qualifying home purchases in 2009 as if they had occurred on December 31, 2008. Anyone eligible who purchases a home before filing your 2008 tax return can receive the $8,000 tax credit on your 2008 taxes. Even if you have not purchased a home, you can still claim the $8,000 tax credit for your 2008 tax return. You must qualify and purchase a home by December 1, 2009, or else you will have to repay all the tax credit money back to the IRS on your 2009 tax return.

I hope this helps, and if you have any additional questions, you can contact The National Association of Home Builders who have set up a website at www.federalhousingtaxcredit.com.

Has anyone seen this new show on TV Land called "High School Reunion"? The premise of the show is to get high school classmates back together for their 20 year reunion in Hawaii and see what happens. I typically don't write posts like this one, but it peaked my interest for several reasons.

First of all, this season's episode is about the Chandler High School class of 1988, and I currently live in Chandler, AZ. The high school is about 5 miles from my home. Secondly, I actually know one of the individuals on the show. I used to work with him, and have seen him as recently as about two months ago, but had no idea that he did this show.

Anyway, it got me to thinking about the days gone by, what it was like in high school, and what people thought about me in high school. In the show, there are 17 different classmates and 2 reunion crashers who graduated in different years. Each of them have been given their own nickname, based on how they were in high school. Below are all of their nicknames:

The Band Geek, The Cowboy, The Troublemaker, The Preacher's Daughter, The Flirt, The Goody Goody, The Cheerleader, The Ugly Duckling, The Homecoming Queen, The Wannabe, The Loner, The Class Clown, The Snob, The Player, The Outcast, The Skate Punk, The Pregnant Girl, The Jock, The All-Star.

My question to you is which one of these best describes what you were like in high school, or did you have a different nickname? How have you changed since then?

I think I was the troublemaker back in the day, but am now much more like the goody goody.

Cactus League fans are encouraged to explore all Chandler has to offer during their stay in Arizona. Chandler is located only 20 minutes south of Sky Harbor Airport and is conveniently located on three freeways - making it easy to get to and from any of the Cactus League stadiums.

Chandler's location makes hotels an attractive option for travelers, with affordable room nights for most budgets. The newest addition the Hilton Phoenix/Chandler, the first full-service Hilton hotel built in the Valley of the Sun in over 20 years. The newly opened hotel is centrally located at the intersection of the Loop 202 Santan and Loop 101 Price freeways, and offers a variety of packages for travelers including their Shop Till You Drop package.

As a special offer to Cactus League attendees, during the month of March, Chandler Fashion Center will offer out of town guests a gift bag with coupons and gifts valued at $300. Visit the Guest Services desk, located on the upper level near Barnes & Noble and present a driver's license and a ticket stub from a Cactus League game.

Chandler has much to offer to the full spectrum of age groups. The City has been recognized as one of the "100 Best Places to Live" by Money Magazine, "5 Great Places to Live" by AARP Magazine, "10 Best Fitness Walking Cities" by Prevention Magazine and "100 Best Communities in the U.S. for Young People" by America's Promise & The Alliance for Youth.

Chandler provides outstanding shopping opportunities: Chandler Fashion Center - a regional mall - and associated power centers have nearly 3 million square feet of stores and restaurants. Chandler Pavilions and Casa Paloma offer both big box and upscale stores. And, the City's Historic Downtown has unique shops, boutiques and restaurants, and is host to numerous events, including an Art Walk and Farmer's Market.

Those desiring to watch their favorite team during March Madness will find numerous opportunities at Chandler pubs and sports bars like, including Majerle's, Jilly's, McDuffy's, Teakwoods, SanTan Brewing Company and Murphy's Law.

Chandler offers outstanding golf opportunities for all players and budgets, including the Ocotillo Golf Resort, Bear Creek Golf Course, Lone Tree Golf Club and the San Marcos Golf Course. For new gear, Chandler offers a variety of golf shops - including Golfsmith, Van's, Golf Galaxy and PGA Tour Superstore, one of the only nine PGA stores in the country. If you would like to play a round on Pebble Beach after your round here, Crosswoods Golf simulators allow golfers to play some of the world's most famous courses without leaving Chandler.

After your round at Crosswoods, how about a burger at the now world famous Heart Attack Grille? Don't worry about your diet - you're on vacation.

Chandler and its surrounding area have much to offer - day spas like Dolce, auto racing at Bondurant or a western town experience at Rawhide.

And, Chandler's signature event - the Ostrich Festival - is scheduled for March 13 -15. A parade and fun run kick off the event on March 7, and the festival will feature ostrich races, a car show, petting zoo and a demolition derby.

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*This information has been re-posted per the request of City of Chandler Public Information Officer, Jane Poston.

I was just reading a newspaper article the other day, realizing that Summer is just around the corner, and thought this information can help all of us who live in Arizona, as well as other sunshine states. Thanks goes to Sue Doerfler for sharing this information in her article in the Arizona Republic.

We all know that utility bills are continuing to increase year-in and year-out, and the price of gas has already started to inch it's way up, and everyone is feeling the effect of the recession. Hopefully these ideas can assist you in cutting some of your cooling expenses this summer, as I sit here on a day that may get up to 90 degrees.

First of all, you can plant shade trees on the east and west sides of your home. This will not only enhance the look of your landscaping, but will help cool your home. These shade trees will act as a buffer and shield the sun's heat from hitting directly on the exterior walls of your home. For those of you in Arizona, it is best to find desert trees that will require less water and leaves that won't shed.

Second, you should replace worn weather stripping around all windows and doors. As Sue wrote in her article, "According to Arizona Public Service, as much as 50 percent of the heat that enters you home in the summer comes in through the windows." Another bit of advice is to find window coverings, or tints, that will reflect the heat to reduce the amount of heat that enters through the glass.

Lastly, wrap you water heater in a blanket (a special blanket made for water heaters, see picture). This will typically cost about $20. With the blanket, it will hold in the heat, meaning less power will be required to heat your water.

Hopefully you find these helpful in lowering your cooling expenses this summer. I know there are some people whose monthly bill can approach $500 or more.

Okay, if I keep writing about all these festivals and events that involve drinking alcohol, everyone is going to think I have a problem, and need a 12 step recovery plan. Living in Arizona, we have a great opportunity to hold outdoor events almost throughout the entire year, but early Spring is really the optimal time, and a time when many events are kicking off the new year, like this one.

The Great Arizona Beer Festival in Tempe, Arizona is celebrating it's 21st annual event. The Great Arizona Beer Festival is this Saturday and Sunday, March 7 and 8 2009 at the Tempe Beach Park (corner of Mill Avenue and Rio Salado Parkway).

The best part about the Great Arizona Beer Festival is that 100% of the proceeds will benefit Sun Sounds of Arizona, a reading service for people who are blind or whose disability prevents them from reading printed material (www.sunsounds.com).

This event is only for those people age 21 and over, so leave your kids and dogs at home. The festival showcases over 170 brews for sampling, games and fun. What else is going on at the Great Arizona Beer Festival? Well, there will be live music by the Crown Kings and Mystic Blue. The event is held from 2pm to 6pm each day.

There are two different all-inclusive admission prices. General admission is $40 in advance and $50 at the gate. VIP tickets are $80 in advance and $90 at the gate. General admission tickets include entrance to the event, a souvenir tasting mug, 24 sampling tickets, and enjoyment of the live music on stage. In addition, VIP tickets include entry to the "VIP Experience" a private VIP seating area with catered food, shade, separate restrooms, early one hour admittance, an event tee shirt and a gift bag.

Designated Drivers are also included in this event. Tickets for Designated Drivers are $20 in advance and $30 at the gate. With your Designated Driver admission, you gain entry to the festival, the music, fun and games that everyone gets to enjoy, but this year, for the first time ever, you can visit the Designated Driver Pavilion. This special area is set-aside for Designated Drivers only! Inside you will find seating and tables to relax as well as special vendors for you and you alone!