Only 6 months left to use the federal energy-efficiency tax credit!  There is still time for homeowners to obtain financial help for some upgrades.  The tax credit is worth 30% of the costs, up to a maximum $1,500 total, for improvements – including insulation upgrades, heating and air-conditioning equipment, windows and doors, roofs, ventilation, water heaters and biomass stoves.  Some installation expenses are not included.  More advanced energy improvements, including solar panels have no cap and don’t expire until the end of 2016.

Check out the Database of Incentives and Policies for Renewables and Efficiency for federal and New York State at http://bit.ly/fhifg.

There is a waiting list for the appliance swap-out program – but other stimulus funded programs may still be running.

 The NYS Department of Environmental Conservation has some great ideas for homeowners on Long Island!  Going green can save money for you and your family.  These small actions can make a big difference for the environment as well.   Check out their Website for tips & resources for greener living.   The are some short videos with Green Tips for Windows and Doors, the Kitchen, the Bathroom, the Water Heater , and the Washing Machine.

One great tip is to wait until February to buy new appliances.  The Great Appliance Swap Out Program is scheduled to begin President’s week, 2010.  Rebates from $50 to $550 will be available – plus bonuses for recycling your old appliances.  There’s a Refrigerator Retirement Savings Calculator as well as some other tools and more information to help you save money-  and help the environment at the same time!  Go Green!

Today’s newspapers reported on the results of a survey by the Mortgage Bankers Association that indicated that more people will face foreclosure on their homes in the months ahead.   A significant portion of these potential foreclosures are from fixed-rate home loans made to people with good credit who have reduced incomes or lost their jobs. 

With that in mind, if you or someone you know, is facing such a crisis I hope these suggestions, links and articles will help.

The website for the NYS Attorney General offers the following tips for homeowners who are behind on their mortgage payment:

• Call your lender or mortgage servicer immediately to discuss the available alternatives to foreclosure.  Many lenders offer foreclosure avoidance programs and have pledged publicly to assist distressed borrowers. 
• Respond to your lender or mortgage servicer.  Some lenders and servicers contact homeowners to discuss available foreclosure avoidance options.
• Consult with a government-approved housing counseling agency. 
• To find counselors approved by the U.S. Department of Housing and Urban Development (HUD) in your local area, call 1-800-569-4287 or visit http://www.hud.gov/.  A list of housing counselors also can be found on the website of the NYS Banking Department at www.banking.state.ny.us.
• Refer to http://www.makinghomeaffordable.gov/ for useful information and resources concerning obtaining a loan modification and avoiding foreclosure.
• Call HOPE NOW at 1-888-995-HOPE.  HOPE NOW is an alliance of housing counselors, mortgage companies, investors, and other mortgage market participants that provides free foreclosure prevention assistance.

These brochures offer some good advice and are in a .pdf format for downloading.  The National Association of Realtors -  NAR “How to Avoid Foreclosure and Keep Your Home” Brochure and The NYS Attorney General’s Office – “How to Avoid Foreclosure and Rescue Scams”.

These are the direct links from HUD – Help for NYS Residents  and the NYS Banking Department – Help for Homeowners Facing Foreclosure.

If I can assist you in any way – whether preparing a free market value report for your bank or just a private consultation – no charge – to help you determine the options available to you, just call me at 631-493-0542 or email me at cheryl@liagent.com.   This is such a difficult time for so many of us – I’ll try to help in any way possible.  If I don’t know the answer, I’ll find someone who can guide you.

CLUE – an acronym for Comprehensive Loss Underwriting Exchange – is a national database recording property claims for insurance companies.   All of your property claims to your insurance company are listed and kept for 5 years.  The report shows the date, amount of loss and the type of loss – including claims for mold, water damage & fire damage.   It’s been compared to a credit report on your home.   If an insurer decides that the report indicates a home is too risky he can refuse to insure that home – and without homeowner’s insurance, your buyer cannot obtain a mortgage.

There are some steps you can take to avoid a contract falling through just before a closing.

• Sellers should order a CLUE Report before listing the property. That way you are prepared to deal with the issue and have an opportunity to correct any mistakes on the report.  You can order a report through Choice Trust.
• Even if your home shows up on a CLUE Report, your buyer probably can purchase a homeowner’s insurance policy – but may have to have to do so through an independent insurance agent who has access to numerous policies and the cost may be higher.   As a seller it is better  to request a report ahead of time, consider what options are available to mitigate it – and not take a chance only to lose the sale of your home by “hoping” for the best outcome.

There is an informative article on MSN Money about CLUE Reports and homeowners insurance.  Any questions?  Please contact me at cheryl@liagent.com.

Why didn’t my home sell?  Tip:  A good 1st impression goes a long way!

You’ve heard the expression, “street appeal” and how important that is when selling your home.  That’s because the first impression can determine how a prospective buyer looks at your home – before even crossing the threshold.  if the yard is overgrown and not maintained, or the walkway needs repairing, or the paint on the front porch is peeling, the buyer starts forming an opinion about your house.  “What else needs to be repaired?”  “This house is not well-maintained.”  “How much is it going to cost me to make these repairs?”   Instead of viewing the home as a whole and allowing a general impression to form – the buyer focuses on negative items – the scuff marks on the flooring or the old faucet in the kitchen.  These small distractions can send up “red flags” for the buyer.  And perhaps a perfectly good home doesn’t sell or generates low offers.   A good 1st impression isn’t going to sell the house by itself  - but it paves the way for the house to be viewed in a more positive way.

So get out that paint can and tool box and start “sprucing up” – and start with the front of your home.  Prune those bushes, replace the broken brick, set out some flowers – even replace garage doors & the front door, if needed.  Pull up to the curb.  Does your house pass the “First Impression” rule?  if so, you’re giving your home the advantage of “best foot forward”!

If you’re selling your home, look for future tips and tools about selling your home in a difficult market.  There’s more information about selling your home on my website.  For up-to-date market reports for the Huntington area see Market Reports.  You also can request a market report for any area in the NY Metro area.

Do you think your taxes are too high?  That’s a loaded question!  However, you may be right!  The assessment on your home may be too high – and if that’s the case – Your taxes are too high!  Time is running out to apply for a tax reduction.  Tax Grievance Day is May 19th for New York State.   Applications can be accessed for the Towns of Huntington, Babylon and Smithtown. 

Since many applications are denied by the Towns, you may want to use a Tax Grievance Service.   Generally, they charge a nominal fee to file the application, and if they are successful in their appeal they charge 1/2 of the first year’s tax reduction as their fee.   If they are not successful, there are no additional charges beyond the initial application fee.  I’m sure there are many reliable and successful services.  I used Mark Lewis and was very happy to receive a significant reduction on my property taxes last year.  NYS has a report regarding tax grievance which you may find helpful.

When preparing your house to sell, don’t overlook the importance of the Master Bedroom for today’s Buyer! Master bedrooms are retreats from the daily grind, so they should be relaxing, welcoming and comfortable – but also elegant. Create a sanctuary similar to a luxury hotel suite that appeals to both genders.

First, your master bedroom should look like a bedroom and not a space for work or exercise. Remove anything from the bedroom which does not have a sleeping or relaxing purpose, such as desks, computers and exercise equipment.

Declutter. Remember to think "less is more" when staging your master bedroom. Remove items on top of dressers and tables except for a few necessary items or a vase of fresh flowers. Declutter your closets and make them appear larger by only using 2/3 of the closet space and keeping everything off the floor.

Looking to cut energy costs? Maybe it’s time for an energy audit. Home energy audits assess where your house might be losing energy and provide recommendations on how to make it more energy efficient. Energy auditors inspect areas in your home to determine if heat is being lost through insufficient insulation, air leaks and inefficient heating and cooling systems.

Insufficient insulation in the ceiling and walls can create a large amount of heat loss. Over the years, the level of recommended insulation has changed, so your current insulation might be inadequate if you have an older home. An energy auditor will measure the depth and type of insulation you have in your attic as well as how well it covers the attic floor. They will also try to determine wall insulation levels.

INSULATION:     According to the U.S. Department of Energy, reducing air leaks can improve energy efficiency by 5 to 30 percent per year. Energy auditors locate sources of air infiltration, especially around doors and windows.

AIR LEAKS:    Heating and cooling equipment manufacturers usually recommend that their equipment be inspected annually to maintain its efficiency. Energy auditors will examine furnaces and air conditioner to ensure that they are well maintained and in good condition.

HEATING AND COOLING EQUIPMENT:    You can conduct a simple version of a home energy audit yourself or contact professional energy auditor for a more thorough inspection. Contact your local utility company if you need help finding a professional energy auditor. Conducting a home energy audit every couple of years can help cut your energy costs.

On Long Island you can find out more about Energy Audits and find affiliated contractors at The Oil Heat Institute of LI at http://www.ohili.org and the LIPA web site at http://www.lipower.org. LIPA also has a free program called REAP to help manage electric usage for income-eligible homeowners.

With the drop in temperatures, Long Island is really in the "grip" of winter!

If you haven’t done so already, you should make sure that your gutters are free of leaves to prevent leaks and other water damage in your house.

Ice dams are the accumulation of ice at the roof edge. Ice dams are formed when heat build-up in the attic warms the roof and causes snow to melt, even when outside temperatures are still below freezing. Water from the melting snow runs down the roof underneath the snow and can not drain off of the roof. The water then refreezes when it reaches a colder part of the roof, such as the roof overhang or a gutter. As this melting-freezing cycle continues, the size of the dam can increase and water from additional melting snow can not drain properly. Instead of draining off the roof, the trapped water can back up into the shingles and can leak into the attic, causing structural damage to your home.

Keeping your gutters free of leaves and other debris will help melting snow to flow unobstructed. Using "roof rakes" to pull off snow from the roof while standing on the ground will also reduce the chances of ice dams from forming. While keeping your gutters clear and reducing the amount of snow on your roof can help, ultimately you need to evaluate your attic ventilation and attic floor insulation since it is the build up of attic heat that creates the ice dam problem. Proper attic ventilation (1 square foot of vent for every 150 feet of attic floor area) reduces the build up of warm air in the attic and proper insulation (R-30 or R-38 value, if in northern climates) reduces the amount of heat that escapes from your home into the attic.

Some signs of ice dam water leakage include ice forming inside roof overhangs, water leaking around window frames, ice along siding and water leaking around the vent pipe. Brown, discolored spots on a drywall ceiling can indicate a water leak. If you do have an ice dam problem, hire a professional roofing contractor to have the ice removed for your own safety and to prevent damage to your roof.