Boston homeowner tips: Cool your home AND receive a tax credit

The warmer temperatures aren’t the ONLY reason to install a new central air conditioning system. According to the Energy Star website, there are some central A/C systems that qualify for government tax rebates. This is part of the ongoing program intended to assist homeowners with making their homes more efficient - all the while, stimulating spending.

For more information on central air conditioner rebate, go to the Energy Star site.

For more information on Boston real estate sales, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Boston homes and homeowners now have a new tool

It was announced at the National Association of Realtors convention this week that a new tool for homebuyers has just been launched. HouseLogic.com is a free source of information and tools from NAR that can help you make smart and timely decisions about your home. How will this affect Boston’s homes? Well, the site will offer content covering home improvement, maintenance, taxes, finance, insurance, and even ways you can get involved in and enrich your community. The goal of HouseLogic is to help you increase and protect the value of your home by helping you make confident decisions.

To read more about this new site or to see the beta version, go to HouseLogic.com.

For more information on Boston homes for sale, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Tax Credit is Extended: Boston Real Estate Market to Get a Boost

Congress passed the Extended Tax Credit for real estate purchases today. Now included are purchases for existing homeowners. Read the whole story on Boston.com. Condos and homes for sale in Boston are sure to see a boost from this much anticipated move.

For more information on homes for sale in Boston, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Tax Credit May Be Expanded AND Extended

Key senators compromised this week to extend the homebuyer tax credit that will broaden the benefit to include existing homeowners who are buying a new home as well as first-time homebuyers. Read the whole story on UPI.com. The existing homeowners will qualify for a credit of up to $6,500 and must have owned their current homes at least five years. The new plan is expected to reach the President’s desk next week.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Winterize Your Home

Did you know that drafts can waste 5% to 30% of your energy use? Or that the Fed chips in on certain energy saving changes. For example, there is a tax credit which pays 30% of the cost for solar water heaters, or up to $1,500 for conventional systems. DailyGreen.com posted several helpful tips to help you winterize your home.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Law Center Cautious About Reversed Mortgages

A recent story on Bloomberg.com discussed the National Consumer Law Center’s take on reversed mortgages. The product offered within the last few years offers an opportunity for older homeowner’s to tap into the equity on their homes. But, the NCLC cautions those who are considering it – they even say it may become the “next subprime”, with similar predatory tactics being used by some firms.

For more information, go to bloomberg.com.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Home-maintenance check list for September

A recent MSN.com article offered several suggestions of what to do to prepare your home for the fall and winter. Ideas include inspecting your storm windows and insulation, caulking exterior gaps, ordering firewood, cleaning your dryer vent and more. In some cases, you may even consider having more efficient windows installed to save on your monthly heating bills.

For more information, go to msn.com.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Spotlight on Boston real estate: How much can one degree save?

Even though our spring was mild, the hazy days of summer will soon be upon us. Before you crank up that air conditioning, consider adjusting your normal temperature. A programmable thermostat allows you to cool your home only when you are there – potentially saving you 5-15% on your cooling bills. One degree can save you one percent of your bill.

For more information, go to energysavers.gov.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Spotlight on Boston real estate: Tax Credit Used for Down Payment?

A recent article on WashingtonPost.com looked at a new use of the First-Time Homebuyer Tax Credit: a down payment. Yes – it looks like qualified buyers with FHA-insured loans will be able to use the $8,000 tax credit as a down payment. This may make it a little easier for interested buyers to get financing. In fact, officers at the National Association of Home Builders estimate that the number of sales stimulated by the credit may double!

To read the complete article, go to WashingtonPost.com.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Spotlight on Boston real estate: Preparing to buy a home?

A recent article on msnbc.com explored the current climate for purchasing a home and created a very helpful list for first-time homebuyers who are looking to take advantage of the federal tax rebate. If you are preparing to buy your first home, there are a number of things that you can do to better prepare yourself for it. From polishing your credit report to considering the maintenance costs of a particular property, there is much that a new homeowner can do to avoid unpleasant surprises.

To read the complete article, go to msnbc.com.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Spotlight on Boston real estate: Staging homes for sale

NECN, a New England television station, investigated the benefits of staging homes that are for sale to improve saleability. Interviewing two local stagers, the reporter touched on the return on investment – in some cases 300% of every dollar spent! In one case, the home sellers opted to stay once the home was completed.

Read the complete story on necn.com.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Spotlight on Boston real estate: How “walkable” is your neighborhood

Boston.com explored an increasingly popular buzzword in real estate: “walkability”. Whether you are on foot or in a wheelchair, nearby amenities and public transportation are attractive features in this day and age. Many people who are being more “green” conscious are looking to avoid car travel and prefer to keep their social activities to their local neighborhoods.

Boston is well-known for its network of social neighborhoods. From the North End to the South End; from Cambridge to South Boston; Boston is a great area for those seeking “walkability”.

Read the complete story on boston.com.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Boston Real Estate Update: Creative solutions benefit charities and homeowners

Boston.com recently posted an article about how some homeowners have been donating a portion of their assets to charity in a Charitable Remainder Unitrust. There are tax benefits to the action, which also gave one retiring couple a sense of good will.

Read the full article on Boston.com.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Real Estate Update: Will you qualify for the $8,000 tax credit?

President Barack Obama’s $787 billion stimulus plan includes an $8,000 tax credit to first time home buyers for 2009 purchases. Though short of the $15,000 credit that the National Association of Realtors was suggesting, this credit, combined with low interest rates, incentivizes prospective buyers in a challenged market.

However, buyers should be aware that there are qualifying factors. US News & World Report put out a comprehensive article on the details of the package. Read the full article on USNews.com.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Real Estate Update: Mortgage agents are very busy following Obama plan

Reuters.com reported that mortgage agents are working hard to keep up with the recent spike in demand for refinancing and new mortgages. All of this is purportedly due to the $275 billion housing plan from President Obama.

Read the full article on Reuters.com.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Boston homeowners can start to think about solar power

A group called One Block Off the Grid (http://1bog.com) has been brokering a deal to get special pricing on solar power systems for homeowners. They also have information regarding tax incentives in each state and from the federal government – including Massachusetts. This is well-timed with the goals of the new White House administration to invest in alternative energy sources.

View the complete article on 1blog.com.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Boston real estate tax rate expected to change

The Boston real estate tax rate for residential properties is expected to drop for the second straight year, according to an article on Boston.com. This is good news amongst the recent real estate news stories. The housing prices in the Boston market have remained strong. Lower interest rates and tax rates may help to further stimulate the spring market activity.

View the complete article on Boston.com.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Green buildings increase in value

With the Greenbuild 2008 International Conference and Expo winding down in Boston, an article featured in the Boston Business Journal indicated that going green is paying off. The growing number of green condos and homes has seen an increase in value. This is probably some of the reason that the green movement has gained momentum. Other benefits include 13% lower operating costs. Read the full article on the Boston Business Journal site.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Only corporations will benefit from the bailout… right? WRONG.

A recent article on Boston.com explored how individual taxpayers can benefit from the federal bailout – the Economic Stabilization Act of 2008. Nine different examples offer relief based on new legislation that provides tax relief, including changes to debt forgiveness – which may assist homeowners facing foreclosure.

Read the full article on Boston.com.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Prepping your credit for a future purchase

A recent article on MarketWatch.com offers tips on preparing your credit score for next year’s real estate purchase, including:

- Check your credit report. Find out if there have been changes to your account limits, and make sure there aren't any errors. Look for any negatives on your report -- many negative items should be removed after seven or ten years.

- Don't get close to card limits. About 30% of your FICO is based on the ratio of the amount that is owed on active cards to your available credit. But utilization on individual cards is important too; getting close to the limit on one card will also reflect negatively on your score. Pay down balances as much as possible.

- Keep accounts active. Accounts get closed when there hasn't been activity on them for a while. Make small purchases on cards a couple of times a year -- then pay them off right away -- to keep accounts active and your available credit up.

- Pay bills on time. This should an easy one, but could prove challenging for people who could lose their jobs in the months ahead. Be proactive, and contact the credit-card company as soon as possible if you're having problems paying your bill. Payment history counts for about 35% of your credit score.

- Don't apply for new cards. Store cards are tempting when they offer discounts at the register, but don't bite. Applying for that card will have a negative effect on your score in the short term.

Read the full article on MarketWatch.com.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.