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Jan 04 2014

Tax Credit for Insulation, Your Western MA Home May Qualify

Look for this logo when considering your new roofing materials (Photo credit: Wikipedia)

The Energy Star site is your safest bet for information on how to get the credit. Energy Star has been pretty flexible on what it allows for this credit:

Batts

Rolls

Blow-in fibers

Rigid boards

Expanding spray

Pour-in-place

Products that reduce air leaks also qualify:

Weather stripping (such as fabric, foam, or metal to provide a seal)

Spray foam in a can, designed to air seal

Caulk designed to air seal

House wrap

Installation isn’t covered.

Don’t rely solely on contractors who may not know the details or who promise their products will get the credit in order to make a sale.

Read on to learn more:

Insulation costs
Insulation is measured in R-values
Savings and energy audits

Insulation costs

Adding insulation is a relatively affordable home improvement project, and the savings can be felt almost immediately. Some DIYers can even tackle the project themselves over a weekend.

Cost for adding attic insulation to a 2,200-square-foot home:

$1,000 to $2,500 including labor, depending on how much you put in and how easy it is to install.

Effort and expense go up when you add it to exterior walls or around hard-to-reach ductwork.

Insulation is measured in R-values

The higher the number value (measuring its resistance to heat flow), the better the insulating power.

Recommended R-values are 30 to 60 for most attics, according to the U.S. Department of Energy. R-38 (or about 12 to 15 inches, depending on the type) is the sweet spot for most attics, says Energy Star, a joint program of the DOE and U.S. Environmental Protection Agency.   In colder climates, go for R-49.   The DOE’s online calculator recommends R-values for all areas of your home’s “envelope”:

Attic

Walls

Floors

Basement

Crawl spaces

You need more insulation if your insulation is level with or below the attic floor joists.

Just about all types (fiberglass, cellulose, mineral wool, spray foam, foam board, cotton batting) qualify for the energy tax credit, as long as its primary purpose is to:

Insulate

Bring your home up to recommended R-value guidelines

Insulated siding doesn’t count, because its main purpose is not insulation, but simply covering your house.

Generally, most homes built before 1980 have inadequate insulation. The easiest kind to add is blown loose-fill insulation. You’ll probably need to hire a contractor. Since insulating an attic isn’t too complicated, you can get quotes—at least three—by phone. However, get a copy of the quote in writing before work starts, and be sure it specifies R-value.

Michael Kwart, executive director of the Insulation Contractors Association of America, recommends rolled insulation for do-it-yourselfers. The new material can be added on top of the existing.

Savings and energy audits

Depending on where you live and how much insulation you already have, adding more can trim heating and cooling costs anywhere from 10% to 50%.

A home owner in the Northeast with an uninsulated attic, for instance, can save about $600 a year by adding about 15 inches of insulation (R-38) between the rafters, according to the Energy Department.

Just 6 inches can net annual savings of about $200.

Energy audits uncover even more ways to save energy

Besides adding new insulation, conduct a whole-house energy audit to find other ways to reduce power consumption and save even more on monthly bills.

Caulk around drafty windows and doors, and stop gaps in siding and the foundation, says Matt Golden, president and founder of San Francisco-based Sustainable Spaces. Reducing a home’s air leakage by 25% can lower annual energy costs by about $300, according to the Lawrence Berkeley National Laboratory.

This article provides general information about tax laws and consequences, but isn’t intended to be relied upon as tax or legal advice applicable to particular transactions or circumstances. Consult a tax professional for such advice; tax laws may vary by jurisdiction.

If you are looking to buy a home in Western Massachusetts,I would love to help you in your Western MA home search! You can reach me anytime: Lesley Lambert, Western MA REALTOR with Park Square Realty 413-575-3611.

Dec 19 2013

Find Out Why He Has Worked With Me on 7 Transactions – Testimonial for Lesley Lambert, Western MA Realtor

A few years ago I went on a listing appointment with Stephen Foster. He had a house that he had renovated that had been on the market for six months without selling.

If you are going to “flip” houses there are a few key elements:
1- price it right
2- don’t over improve
3- watch the style of the improvements
4- get a full marketing plan
5- be aggressive

Stephen was frustrated. He wasn’t getting the advise he needed to get this home sold. He hired me, I told him the truth about the house and we got it sold quickly. Following that transaction, we have had six consecutive sales and another due to close next week.

Stephen does a great job with these homes. Each home he renovates, I want to move into. They are all lovely and well appointed and all of them appreciated by the buying market.

It is my total pleasure to work with Stephen, not only is he a great guy who does wonderful work, he is kind and funny and loyal. I try to repay that loyalty with only the best I have to offer. I work hard for Stephen, doing a lot of research and marketing for him that another agent may not even know how to do.

It is my job to ensure that Stephen and I continue to work together on these types of sales until one of us retires.

If you are in the market to buy a home to improve and resell in Western MA please let me know. Lesley Lambert, Park Square Realty.

Dec 18 2013

The BEST Testimonial video ever! My buyer client made me teary with this one.

I met Roy and Jen quite awhile ago to show them a house.

We hit it off right away and had some fun with the difficulty of getting inside the house. They had a great sense of humor and were very excited about the prospect of moving from renting to owning their own home.

Upon sending them for a pre-approval for a mortgage we discovered that they didn’t qualify for a loan. Not because of bad credit, but rather because of NO credit. The mortgage officer, Joni Miller with First Niagra Bank, did some credit counseling with them and I stayed in touch over the course of time. After some time Joni checked their credit and was thrilled to tell them that they were well qualified to purchase.

Off we went on our shopping adventures, looking at homes for sale in Westfield and Southwick. Along the way they chose a ranch in Southwick and we began the buying process.

Of course, there were hiccups along the way (what real estate transaction doesn’t have some?) and Roy and Jen worked with Joni, myself and their attorney, Tracie Kester to get them resolved.

Today, I am thrilled to be celebrating the closing on

their first home!

Roy was kind enough to give me a video testimonial to share with you. It is less than a minute long and I really hope you will watch the whole thing because I think his emotions are so plain and I am really proud of what he had to say.

Roy, may you and Jen have many years of happiness in your new home and I can’t wait to be invited over to see how it all turned out!

I wouldn’t be able to share a happy ending like this without the teamwork of a lot of people. I want to take this opportunity to thank my manager, Barry Boccasile, the buyer’s attorney Tracie Kester and the lender, Joni Miller. It took all of our hard work to get to this day and Roy isn’t the only one that appreciates you!

Dec 17 2013

Top 25 Most Expensive Homes in Southwick, MA 01077

Are you curious to know what the top 25 most expensive homes on the market and recently sold are in Southwick, MA 01077?

Well, have your curiosity sated by looking over this market report that shows you exactly what types of homes are for sale in Southwick, MA and have sold in Southwick, MA 01077.

I love working in Southwick, MA to help buyers find their dream home and home sellers make their move. If you are looking for a home in Southwick you can use this search tool:
[spatialmatch_map id=3 show_title=true width=100%]

If you would like to have emails that keep you up to date on real estate market trends in Southwick, MA 01077 then you can sign up for Southwick, MA real estate market reports here.

Dec 17 2013

Why I like working on short sales in Western Massachusetts by Lesley Lambert, Short Sale Specialist

It is unfortunate that short sales are still a part of our day to day life in Western Massachusetts real estate, but a fact that cannot be denied.

Working on short sales is difficult for a number of reasons:

– the emotions of the seller are exposed and high
– the homes usually need work and/or have been abandoned
– the negotiations have added levels of legality
– the process takes much longer
– many cooperating agents (representing buyers) do not have a lot of short sale experience
– the buyers don’t always understand the process
– the entire process can take six times (or more) longer than a traditional sale

All that being said, I actually enjoy helping sellers sell their home via short sale in Western MA.

When people are in a tough spot they need a helping hand and they need someone they can trust. I try to be that person. When people are afraid or confused, they need guidance and patience and lots of empathy. I try to provide all of that. When people are experiencing the kind of financial hardships that lead up to pre-foreclosure, they need someone who understands their options, who can connect them with a team of legal and financial professionals and they need help. I give them all of that.

I do it for a number of reasons. I do it because I was once in their shoes. I do it because it is the kind thing to do. I do it because it helps in many ways: it helps them move on without going through foreclosure, it helps the neighborhood, it helps the lenders and it helps my community as a whole. I do it because I can and because I should.

Here is a video I took upon the closing of my last short sale in Westfield, MA

If you are in Massachusetts and need help with short sale advice, I am only a call 413-575-3611 or a click away. Please do not hesitate to reach out. I am here.