Florida Homebuilder Centerline Homes | Real Estate Blog

More Tips for Living Green Around Home and on the Road

• Cook with your Microwave Microwaves are between 3.5 and 4.8 times more energy efficient than traditional electric ovens. Cooking and reheating with a microwave is faster and more efficient than the stovetop or oven.
• Use commercial car washes Getting your car washed at a commercial car wash is better for the environment than doing it yourself. Commercial car washes not only use significantly less water per wash  but they often recycle and reuse the rinse water.
• Clean your air filters Check air conditioning filters monthly to either clean or replace them. This will help the unit run more efficiently. Better yet: buy a permanent filter that can be washed and re-used. This will save you money over the long run and keep all those disposable filters out of landfills. If your unit is outdoors, check to make sure the coils are not obstructed by debris, plants or shrubs.
• Green Your PC and Electronics 90% of desktop computers are not optimized for energy efficiency. Take advantage of "sleep" and "hibernate" settings, and turn off your devices when you won't use them for an hour or more. Use a surge protector to turn them all the way off so they won't draw a "phantom load" even when shut off.
• Use rechargeable batteries It may not sound like much at first, but investing in rechargeable batteries can save you some money over time. In general, the less you rely on single-use, disposable items, the less money you'll burn through.
  

The Closing Deadline Has Been Extended to Sept. 30 for Eligible Homebuyer Credit Purchases  

Update: IR-2010-80, July 2, 2010

WASHINGTON — Eligible taxpayers who contracted to buy a home, qualifying for the first-time homebuyer credit, before the end of April now have until Sept. 30, 2010 to close the deal, according to the Internal Revenue Service.

The Homebuyer Assistance and Improvement Act of 2010, signed by the President today, extended the closing deadline from June 30 to Sept. 30 for any eligible homebuyer who entered into a binding purchase contract on or before April 30 to close on the purchase of the home on or before June 30, 2010. The new law addresses concerns that many homebuyers might be unable to meet the original June 30 closing deadline.

The IRS reminds taxpayers that special filing and documentation requirements apply to anyone claiming the homebuyer credit. To avoid refund delays, those who entered into a purchase contract on or before April 30, but closed after that date, should attach to their return a copy of the pages from the signed contract showing all parties' names and signatures if required by local law, the property address, the purchase price, and the date of the contract.

Besides filling out Form 5405, First-Time Homebuyer Credit and Repayment of the Credit, all eligible homebuyers must also include with their return one of the following documents:

A copy of the settlement statement showing all parties' names and signatures if required by local law, property address, sales price, and date of purchase. Normally, this is the properly executed Form HUD-1, Settlement Statement.

For mobile home purchasers who are unable to get a settlement statement, a copy of the executed retail sales contract showing all parties' names and signatures, property address, purchase price and date of purchase.

For a newly constructed home where a settlement statement is not available, a copy of the certificate of occupancy showing the owner’s name, property address and date of the certificate.

Besides providing a tax benefit to first-time homebuyers and purchasers who haven’t owned homes in recent years, the law allows a long-time resident of the same main home to claim the credit if they purchase a new principal residence. To qualify, eligible taxpayers must show that they lived in their old homes for a five-consecutive-year period during the eight-year period ending on the purchase date of the new home. Homebuyers claiming this credit can avoid refund delays by attaching documentation covering the five-consecutive-year period:

Form 1098, Mortgage Interest Statement, or substitute mortgage interest statements,
Property tax records or Homeowner’s insurance records.
There are three options for claiming the credit on a qualifying 2010 purchase:

If a 2009 return has not yet been filed, claim it on Form 1040 for tax-year 2009. Though these returns cannot be filed electronically, taxpayerscan still use IRS Free File to prepare their return. The returns must be printed out and sent to the IRS, along with all required documentation. The IRS urges taxpayers claiming refunds to choose direct deposit.

If a 2009 return has already been filed, claim it on an amended return using Form 1040X.

Whether or not a 2009 return has been filed, wait until next year and claim it on a 2010 Form 1040.

More details on claiming the credit can be found in the instructions to Form 5405, as well as on the First-Time Homebuyer Credit page on IRS.gov.

Visit anyone of our new home communities to learn about other new home deals and incentives! www.centerlinehomes.com

15 Tips for Living Green Around Your Home

Tip 1: "Green" your laundry.
Detergents, fabric softeners and bleaches can be toxic to your family and to the environment. Some surfactants and fragrances in laundry detergents contain hormone-disrupting chemicals that can't always be removed by wastewater treatment plants and end up harming local wildlife. Chlorine bleach is not only poisonous for humans, but can create dangerous byproducts, such as dioxin, when flushed down the drain. Get your clothes clean without all of the pollution by switching to eco-friendlier cleaners.

Cost Factor: The eco-friendlier detergents and bleaches cost about the same as standard products.
 
Tip 2: Keep Your Thermostat set a little warmer and a little cooler.
About 47 percent of the average household's annual energy bills stem from heating and cooling. Every degree you raise your thermostat in the summer will reduce air conditioning bills by about 2 percent. Lowering the temperature by one degree in winter will save you 3 percent on heating bills. Regular maintenance and an annual tune up will keep your heating, ventilation and air conditioning, or HVAC, system operating efficiently, saving energy and money. A programmable thermostat can shave 10 percent or more off your bill. 

Cost Factor: Adjusting your thermostat is free, easy and can save you big. A programmable thermostat starts at about $50 and produces an annual savings of about $100.

Tip 3: Switch to cold water.
Almost 90 percent of the energy used to wash clothes is used to heat the water, according to the U.S. Department of Energy. Save money and energy. Wash your clothes in cold water, instead of hot using a detergent formulated for cold-water use. 

Cost Factor: Turning the dial from hot to warm will cut your energy use by 50 percent per load, and save you up to $63 a year, according to the Alliance to Save Energy.

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Even though time has run out on the U.S. Government’s $8,000 tax credit for first time home buyers, Centerline Homes just announced it is offering an $8,000 discount for a limited time only to everyone on their “move-in ready” townhomes at Briella in West Boynton Beach, FL.

“There was such a huge surge of potential homebuyers visiting Briella last month taking advantage of the tax credit that we decided to extend that same discount for anyone who might have missed out,” explains Vice President of Sales, Deb Marton. “Our $8,000 discount applies to completed “move-in  ready” homes at Briella and can be used in a variety of ways. But hurry because this special offer will not last too long!”

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U.S. servicemen out of the country for 90 days (since 2008) may have an extra year to get the tax credit, up to $8,000, for buying a home.

The active-duty rule is not new. It’s part of the current tax credit law, though its use is limited. The qualification must be for “official extended duty outside the United States for at least 90 days after 2008 and before May 1, 2010.”

Should that be the case, however, the homebuyer has an extra year to buy a home. He or she has until April 30, 2011, to secure a binding contract, and until June 30, 2011 to close on the home. Other conditions such as a maximum $8,000 for first-time buyers and $6,500 for move-up buyers still apply.

For advice in regards to the tax credit consult a qualified tax advisor. The applicable IRS publication is posted online (PDF format) at: http://www.irs.gov/pub/irs-pdf/p3.pdf