My New Blog

Yeah! Gas prices have been coming down but our expenses seem to keep rising.  Have you heard Progress energy wants to raise rates again.  Here are some ideas for cutting your electric bills and other expenses.

1.  Did you know that Progress Energy will do an energy audit on your home for FREE? All you need to do is call Progress Energy and set up a time for the Energy Audit. When Progress Energy completes the audit you will obtain a certificate for saving money on doing some of the updates. You can add insulation to your home for only a few hundred dollars for a home under 1700 sqft. saving you money monthly.  Another big source of energy usage is leaky air conditioning ducts, some times just taping the ducts with duct tape to seal the holes saves you money because you are no longer air conditioning the attic.  This is an excellent program that I have used.

2.  Auto Insurance - 2 ways to save.  First, keep your credit score up and stay free from traffic violations.  Auto insurance rate are based on credit score and traffic violations.  Second, if you can afford it, raise your deductible the difference is significant and will lower your rates.

3.  Home Owners Insurance - Raising your deductible can lower your premium but make sure you have enough savings to cover the larger deductible.  Also, a Wind Mitigation Report can save you hundreds to thousands depending on your house.  Here are some of the items the inspection looks at, type of roof (hip roof saves money), rafter tie downs, second water barrier under shingles (if you have recently had your roof replaced or are planning on replacing it, check with your roofer and insurer).

For all your real estate needs call Sue Kane Carr and Larry Carr at 727-424-2238

There are 2 parts to the Economic Stimulus Package, one for existing homeowners and another for First Time Home Buyers (can not have owned a home in the last 3 years).

The first part of the New Economic Stimulus Package will be going into effect on October 1 for homeowners who are having trouble paying their mortgage.  You can call your existing lender and find out if they are participating.  If they are, then you will have two choices.  Either they may be able to refinance your mortgage or you can use the Hope Program.  If your lender is not participating then you can still use the Hope Program.  These new loans have a number of parts including lower fixed interest rates, lenders writing off part of the existing mortgage, existing mortgage must be taken out prior to January of 2008.  Check with your existing lender first for full details.

The second part is for First Time Home Buyer's.  Let's first define who is a First Time Home Buyer.  They are anyone that has not owned a home in the last 3 years. Tax returns are required to prove this.  Now for the plan.   There is a tax credit available depending on your income for upto $7,500. A tax credit is a dollar for dollar credit against any income taxes you pay the IRS. This will provide you with a lower amount due to the IRS, and if you normally  receive a refund it will be higher. You must buy a house before April 1, 2009 and the money must be repaid starting two years after you take the tax credit or when you sell the house.  There is no interest on the money and it is paid back at only $500.00 per year. This will allow you money to make some upgrades to the house you buy, pay off other debt, or save the extra money.

For more information email us at Sue@LarryandSueCarr.com or call us at 727-424-238