Archive for February, 2010

Energy Tax Credits 2.0

ax season is upon us and like it or not at some point in the next two months we will all be trudging our way through this grueling process.   I hope that many of your were able to take advantage of the some of the more heavily publicized credits like the first time home buyer tax credit. Hopefully, many of you also took advantage of some of the many tax credits offered or expanded upon in the The American Recovery and Reinvestment Act of 2009 that applied to energy efficient improvements in your home.

I found the most concise explanation of what qualifies and how much is being offered per item  through the US Department of Energy tax breaks page.  The highlights are a 30% tax credit on Energy Star Certified items such as AC’s, windows, insulation, roofing with a $1500 cap.  The big boon was for alternative energy sources such as solar or geothermal.  These now qualify for a 30% tax credit with no cap through the year 2016.  Be sure to check the Energy Star website for more specific list of items that can qualify and how to apply for the credits.

After the success of the Cash for Clunkers program, the federal government rolled out a plan in the fall that would provide funding for rebates on energy efficient appliances.  Through the Energy Efficient Appliance Rebate Program, individual states will be able to offer rebates for energy efficient appliances so check this out if you are in need of anything from a new fridge to new AC’s.  It varies by state so click on your state, it could mean $100’s in savings.

I have one more trick up my little green sleeve.  Before you consider any improvement and/or appliance purchase or if you have recently made an improvement, be sure to check the Database of State Incentives for Renewables & Efficiency.  This too varies by state and offers updated info about programs and incentives that promote sustainability in your area.  You can actually “stack”   most of these credits, rebates, and incentives currently offered so be sure to take full advantage.   Going green can actually mean making some green so do your homework and reap the benefits!

Eco-What?

More and more, “green” is becoming a buzzword in our culture and a term being applied rather effectively, I mean loosely to all sorts of products.   Real Estate is no exception, and this is for any of you wondering about how to navigate through all the lovely CFL bulb logos, trees sprouting hope, and babbling brooks attached to purchasing new homes these days.

The good news is that the majority of builders I am encountering who are touting their homes as green, seem to be doing it with integrity and transparency.  In fact they are opting to use third party green builder certifications so that their entire building process can be inspected and even tested for things such as building efficiency and air quality.  In the case of green building, these certifications are a legitimate way for a buyer to know exactly what about the home is green and to what extent it’s more energy efficient then the average home. 

There are three major builder certifications that are being implemented nationally.   The US Green Building Council has it’s LEED program, The National Association of Home Builders has NAHB Green, and Energy Star `has a certification that you can get for an entire home.   Of the three, Energy Star is the the most basic and LEED is probably the most stringent and has the longest track record in the green building industry. If you take a little time to familiarize yourself with these certifications then you will certainly be better prepared to evaluate what a builder has done.   You may also find some very credible regional builder certifications in your area as well. For example, in the Southeast we have Earthcraft which is also very similar to LEED and NAHB Green in that they are muli faceted and all exceed Energy Star’s criteria.

On a note of personal plug, a qualified Realtor who has gotten some additional education on green homes, can most definitely help you to differentiate between the programs.  In addition if they are familiar with the builder certifications that are included in your Local MLS, then they can help you to evaluate if there is a premium for one particular certification in your area or if you can even get credit for it through the MLS which could impact resale.   Bottom line is that there are some legitimate programs in place that have a lot more “teeth” in the game than a pretty marketing and they are a wonderful tool in helping you define what “green” means in a new home.

Should we Invest in Regional Transportation?

I’ve heard the snickers, endured the rolling eyes from you West Coasters and Nor Easters when the topic of public transportation is queried in Middle TN.   For the most part, I agree that ours is sorely lacking BUT I think it’s important to stand up and advocate for these things in lieu of complaining about the lack there of.  To that end, I am delighted to see the Nashville Area Metropolitan Planning Organization (MPO from here on out) is working on a plan for regional transportation in our area.    In addition they have created a public survey with a wonderful slew of questions touching on not just regional transportation but also more parks, greenways, safer bike routes and sidewalks, and even more responsible growth and building practices.  Now is your opportunity to give feedback about the direction you think we need to be headed.   As much as they are looking for input in what our individual priorities are in funding projects within the area, I also believe they are using this as a litmus for our commitment to using these investments.  i.e. the more of us say we will use them the more likely and expediently we will get them.

I have a standing argument with my children’s principle about our school offering more healthy options in the lunchroom.  She claims that our school qualifies for little to no funding to improve the food quality because so few of the students eat our school’s lunch.  Of course my argument is that more would eat it if the food were fresher and more healthy.

That seems an unproductive argument and I think now is the time for us to speak to our priorities on how our tax dollars are invested in Nashville’s infrastructure and how it would change our habits if these things were made available to us.