A great post from Pava Leyrer
What does a gas powered clock radio (that might put you to sleep permanently with carbon monoxide poisoning), and a room air cleaner that consists of a feather duster and fly strips taped to the front of a space heater, have in common? They both are now the proud recipients of the Energy Star certification, casting doubt on the true meaning of the certification for others.
The Energy Star program was introduced by the U.S. Environmental Protection Agency (EPA) in 1992 as a voluntary labeling program designed to promote-and help consumers identify-energy-efficient products. As of 2009, over 40,000 individual product models were Energy Star-qualified by over 2,400 manufacturers. Sadly, it now appears that the certification may have lost some of its meaning due to the carelessness with which the certification is given.
The Government Accountability Office (GAO) found the Energy Star program certification process vulnerable to fraud and abuse by submitting absurd and ridiculous ideas and actually having most of them approved.
A gorgeous lawn is, indeed, a beautiful sight. And you can have a great lawn……. naturally. But a lovely lawn is much more than a sight to behold. Did you know that the average lawn makes enough oxygen every day for a family of four? And a lush and healthy lawn muffles noise, traps dust, reduces run-off and helps prevent erosion. And……………………..you can have a wonderful lawn without a lot of harsh chemicals. Simply by using the right fertilizers, at the right time and in the right amounts your lawn can be the envy of the neighborhood. The folks at The Money Pit ® have a great article detailing the way to easily have that great lawn you have always wanted. Click Here to read all about it.
Spring has sprung, love is in the air and the wedding season is rapidly approaching. And so many questions come with it. Do I invite the previous in-laws. How about my step dad’s fourth wife. How about my mom’s boyfriend. Do I invite my sister’s girlfriend. What should I wear? Should I bring a gift or money? Should my single friends bring a date? Oh, the confusion. What to do, what to do. Fortunately, I found a great website to handle all of the etiquette questions that anyone could ever think to ask. Check it out at The Perfect Wedding
As William Shakespeare said, “That IS The Question.”
CNN has done an in depth survey concerning where prices seem to be headed in different areas of the country. Most likely your home town has been included in the survey. While it is true that if we ask three different people for an opinion on something we will likely get 4 different answers/non-answers, this in-depth study seems to follow the consensus of the majority of the so-called experts.
To find out how CNN thinks your city will fare CLICK HERE
Happy snooping.
Last year, Congress extended the homebuyer tax credit to include more than first-time home buyers. Now those who are buying a replacement home are eligible, in the majority of cases, for a tax credit, in most cases, of $6,500.
Even if you buy this year, as long as you have the purchase under contract by April 30th and close by June 30th you can claim the credit on your 2009 or 2010 return.
There are a couple of qualifiers but, in most cases, they are not problematic. 1. You must have lived in your old home for five consecutive years of the past eight. 2. The new home must be your principal residence and must have cost $800,000 or less. Of course, first-time homebuyers still benefit, with a credit of 10% of the price up to $8,000. If someone you know finally kicked the renting habit in 2009 — or plans to in early 2010 — have them check www.irs.gov for deadlines and income limitations or ask a qualified CPA..
When it comes to shingles, there are choices galore. But one of the most attractive from a number of standpoints is the laminated composition shingle. Durable, reasonably priced and compatible with a wide range of architectural styles, laminated shingles have long ago destroyed the notion that composition shingles are suitable only for lower-end housing.
“Composition” refers to the fact that the shingle is made up from a composite of different materials. Most are made up of a flexible and durable fiberglass matt that’s blended with asphalt. The fiberglass and asphalt layers are then topped with mineral granules, which give the shingle its durability, weather resistance and color. Virtually all composition shingles carry an Underwriter’s Laboratories Class A fire rating, which is the highest available. This makes them a great choice for fire-prone areas as well. Read More Here
Spring fever has struck and you’re thinking about doing a little remodeling around the shack and wondering whether to tackle the project on your own or hire an expert to do it for you. The answer to your question is a definite “It depends”.
Some things to consider before you make that decision are your level of expertise, your level of patience, the tools needed to do the project, the time it will take, the cost and the effect it will have on your family.
Saving money by doing it yourself and the pride of having accomplished the job are wonderful as long as you don’t bite off more than you can chew. For more help deciding whether to do or not to do, Click Here
Yes, the idea of getting a great deal on a foreclosure is very attractive right now, especially since the banks are more willing to take a loss than any other time in history. However, there is a real danger in purchasing these distressed properties and nobody wants to talk about it. Foreclosed properties, dating back as far as 1989, may have clouded titles and you may not be able to sell them when the time comes to sell. You could, potentially, even have them taken away from you.
Because of the way that mortgages are passed from bank to bank, you could, or may have already, purchase a property and not have clear title to it and these foreclosures may, in some cases, be invalidated in the courts.
To learn more about the dangers and how you might be affected, Simply Click Here.
It’s that time of year again – homeowners have started to receive their 2010 property tax assessments in the mail. Over the last few years, homeowners have been frustrated by their taxable value increasing, while their property value has decreased because of the economic downturn. This is due to current law that allows a home’s taxable value to increase each year by either the rate of inflation or 5%, whichever is lower. However, this tax year is particularly interesting because Michigan has a negative inflation rate. So, almost every homeowner should see a property tax decrease of at least .3%.
Homeowners have the right to appeal their assessments to the local board of review if they feel the assessment is incorrect. It is important to note that many review boards meet in March, but dates vary by each municipality, so be sure to contact your local assessor. Below is a step-by-step guide for homeowners to utilize when preparing to appeal their property tax assessment, courtesy of the Michigan House of Representatives Caucus Services. To find out if your state representative is holding a tax appeal workshop in your area, please go to www.house.mi.gov.
Before deciding to appeal, you may find it helpful to call your local assessor to discuss your assessment and the appeal process.
1. Obtain a copy of your property tax worksheet or appraisal card.
This is available from the local assessor’s office. The worksheet lists information such as size of house, style, number of baths, etc. Ask the assessing department to fully explain how to read the document. You may also obtain worksheets for similar properties which recently sold in the area to help determine the value of your property.
2. Carefully check the worksheet for errors.
if you notice any errors, the assessor may agree to change some of the information or figures at that time. If not, you will have to make
your case with the board of review. Your worksheet may include a “percent good” calculation which shows how much your home has depreciated. For example, a 10-year-old house may be listed as 90 percent good. Percent good is another factor to use when comparing your home to other homes.
3. Make sure your taxable value has decreased by at least 0.3 percent.
Because the weak economy has resulted in a negative inflation rate, your home’s taxable value should decrease by at least 0.3 percent from last year (assuming you did not make any improvements to your home). taxable value should not be confused with state equal¬ized value, which always equals 50 percent of your property’s true cash value. (see step 4)
4. Inspect the inside of your home.
As noted in Step 2, the “percent good” is the way an assessor depreciates the value of a home based on its age, meaning normal issues common to older homes are not considered in the specifics of the assessment. However, problems not associated with general aging, such as a cracked foundation or wall construction problems, should be specifically addressed in your appeal. Written repair estimates and photographs of structural damage are good evidence of defects which could affect property value.
5. Note changes to your neighborhood.
Realtors say location is the single most important feature in determining the value of your home. If you live near a major road or in a mixed-use zoning area, for example, your home may be less desirable than the same home in a purely residential neighborhood. If the characteristics of your neighborhood have changed, obtain copies of citizen complaints about excessive noise or eyesores and show this evidence to the board.
6. Inform your assessor about personal property included in the sale price of your home and detailed on the purchase agreement.
One of the most common mistakes home buyers can make is to fail to inform the assessor of personal property and other valuable items included in the sale and detailed on the purchase agreement. Personal property items often included in a home’s sale price, such as furniture, curtains, a washer or dryer, etc., are exempt from assessment. If you did not inform your assessor in writ¬ing about these items, your assessment may erroneously include this value.
7. Compare your property to similar homes in the area,
especially those that recently sold.
Comparable property assessments are one of the most important tools when appealing your property assessment. if comparable properties are assessed lower than yours, your home may be over-assessed. Check the assessed value, type of house and zoning. Compare the true cash value per square foot. Keep in mind that comparisons should only be made between similar types of homes (Compare two stories with two stories, ranch houses with other ranch houses).
8. Put all your information into letter form.
(See sample appeal letter to right)
9. If you are not satisfied with the decision of your local Board of Review, you may want to continue your appeal.
To do this, send a letter to the Michigan Tax Tribunal (P.O. Box 30232 Lansing, MI 48909) before June 30th and ask them to mail you the pertinent forms for appeal. You must appeal to your local Board of Review before you can appeal to the Michigan Tax Tribunal.
10. Visit www.mirealtors.com for Legal Resources
Michigan Association of REALTORS®
720 North Washington Ave
Lansing, MI 48906
517.372.8890 / 800.454.7842
Fax: 517.334.5568
