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Tips for Winterizing Your Home

by Tom Stachler,ABR,CDPE - Group One Realty Team

Old Man Winter is sneaking up on us once again. He does this every year, and yet many of us find ourselves unprepared when he springs out from behind the bushes, drops the temperatures down into the Arctic range and unleashes a torrent of wind and snow. Beyond the discomfort that the cold can bring, winter can usher in a series of expenses – but there are ways to cut down on potentially expensive heating and repair bills.

So, for all of the procrastinators out there, here are some very simple, basic tips for preparing your Michigan Home for Old Man Winter’s inevitable onslaught:

  • Seal as many of your house’s drafty areas as possible (screens, windows, doors, etc.) with weather stripping, plastic or caulk.
  • Insulate your attic, preferably with about a foot of insulating material like fiberglass. Obviously, heat rises so a well insulated attic will keep your heat where it belongs: inside your living spaces.
  • Ensure that your furnace is in tip-top condition. Have an HVAC technician check it over and replace the furnace filter. If your Michigan home is radiator heated, it’s recommended that you open the pipes slightly and bleed out some air. When water appears, close the valve.
  • Make sure that all of your carbon monoxide and smoke detectors are functioning properly and have fresh batteries.
  • Cover exposed pipes with insulating material or heat tape, and insulate electrical outlets against heat loss and air leaks.

Use these quick-and-easy tips to get started and like the proverbial snowball rolling down a hill, you’ll have your Michigan house winterized in no time. You’ll save money on heat and maybe even prevent your pipes from bursting during serious cold snaps.

NEW FIRST TIME HOME BUYER TAX CREDIT

by Group One Realty Team - Real Estate One

 ECONOMIC RECOVERY ACT OF 2008

 

FEATURE

 

H.R. 3221

Housing and Economic Recovery Act of 2008

 

 

Amount of Credit

 

Ten percent of cost of Home, not to exceed

$7500  Click Here for more info

 

 

Eligible Property

 

Any single-family residence (including condos, co-ops) that will be used as a principal residence.

 

 

Refundable

 

Yes.  Reduces income tax liability for the year of purchase.  Claimed on tax return for that tax year.

 

 

Income Limit

 

Yes.   Full amount of credit available for individuals with adjusted gross income of no more than $75,000 ($150,000 on a joint return).  Phases out above those caps ($95,000 and $170,000, respectively).

 

 

First-time Homebuyer Only

 

Yes.   Purchaser (and purchaser’s spouse) may not have owned a principal residence in 3 years previous to purchase. 

 

Recapture

 

Yes.  Portion (6.67 % of credit) to be repaid each year for 15 years.  If home sold before 15 years, then remainder of credit recaptured on sale.

 

 

Impact on District of Columbia Homebuyer Credit

 

DC credit not available if purchaser uses this credit.

 

 

Effective Date

 

Purchases on or after April 9, 2008

 

 

Termination

 

July 1, 2009

 

Interaction with Alternative Minimum Tax

Can be used against AMT, so credit will not throw individual into AMT.  


This credit is in effect now.  Get started looking at home.  Click here for direct MLS access for the Ann Arbor and surrounding areas.

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