FundMyRemodel.com Home Improvment: Lowe’s Is Honored By Environmental Protection Agency (EPA) For Its “Build Your Savings” Program On Educating Homeowners On Energy-, Water-, And Money-Saving Products

14 10 2010

The EPA announced its annual WaterSense Partners of the Year, which recognize companies for excellence in promoting water efficiency and WaterSense-labeled products. 

And Lowe’s was honored:

  • Lowe’s: An honoree for the second straight year, the big box retailer’s “Build Your Savings” program educated consumers on energy-, water-, and money-saving products. 

Step 1:
Use the Home Audit Tool to uncover hidden savings in your home.

Step 2:
Purchase qualified items at Lowe’s and install in your home between January 1, 2009 and December 31, 2010.

View all eligible product categories

Step 3:
Keep your receipts and other documentation to provide to your tax advisor. Be sure to consult with a qualified tax advisor to discuss your ability to claim and qualify for benefits under the programs.

Notes:
You may need to provide a Manufacturer’s Certification and/or product labels containing U-factor/Solar Heat Gain Coefficient if applicable.

Look for this sign in your Lowe’s store to identify which products qualify for tax credits.

Use your Lowe’s Consumer Credit Card and we’ll send you a year-end summary of “Tax Credit Eligible” purchases.**

On February 17, 2009, the American Recovery and Reinvestment Act of 2009 was signed into law. The act includes payroll tax cuts, the First Time Homebuyer credit, provisions for state rebate programs for the purchase of energy-efficient appliances and tax credits for energy-efficient improvements to existing homes. The information provided herein is provided for reference purposes only and should not be interpreted or relied upon as tax advice. Consult with a qualified tax advisor to discuss your ability to claim and qualify for benefits under the programs.

What Is the Energy-Efficient Tax Credit for Existing Homes?

Beginning January 1, 2009 through December 31, 2010, when you purchase qualifying energy-efficient items from categories such as doors, windows, skylights and insulation, you may be eligible to claim a tax credit of up to 30% off the purchase price on your 2009 or 2010 tax return (up to $1,500). A qualified tax advisor should be consulted to determine eligibility.

What Items Qualify?

Products from among the following categories may qualify* :

  • Exterior windows and skylights
  • Storm windows
  • Exterior doors
  • Storm doors
  • Metal roofs
  • Asphalt roofs
  • Insulation
  • Natural gas, oil, and propane water heaters
  • Pellet stoves

View All Eligible Products

*See www.energystar.gov for more information about qualified products. Not all ENERGY STAR® products qualify for a tax credit. Qualifying products may cost much more than standard products.

State-Specific Appliance Rebates

Check with your local utility company or click to visit the ENERGY STAR Rebate Finder website to find out if you qualify for a rebate on your ENERGY STAR appliances.

For more information on any of the topics above, consult with a qualified tax advisor. He or she can help you determine your eligibility for any of the credits or rebates, as well as how much you may receive. You may also visit the ENERGY STAR website for more information. http://www.energystar.gov

**Receive a year-end summary of items purchased on your Lowe’s Consumer Credit Card that Lowe’s identifies as “Tax Credit Eligible.” The year-end summary is not intended as tax advice. The year-end summary may not include eligible Special Order purchases. You should retain and review all of your receipts. Visit Lowes.com/BuildYourSavings for a list of eligible products and additional Energy Tax Credit Program information. GE Money Bank and its affiliates do not provide tax, accounting or legal advice to third parties. Accordingly, any discussion of U.S. tax matters contained herein is not intended or written to be used, and cannot be used, for the purpose of avoiding U.S. tax-related penalties. Accordingly, parties should seek advice based on their own particular circumstances from an independent tax advisor.

 

For more:   http://www.ecohomemagazine.com/news/2010/10/moen-lowes-among-epas-watersense-partners-of-the-year.aspx





Home Remodeling Projects: Lowe’s Home Improvement Stores Focus On Sales Of Kitchen Appliances, Flooring And Repair Projects

17 08 2010

“What you look at, from a timing standpoint, is when do we finally bottom out — when do we hit the bottom from an unemployment standpoint, when does it peak so we can get back to growing jobs in a robust manner, and when do housing prices bottom out?”

While Lowe’s had previously banked on views that housing prices would bottom sometime during the first half of 2011, it now appears that timing might be “more to the middle of 2011,” Niblock said.

Improvements in both labor and housing markets will have to occur before the industry sees robust growth, he said. In the meantime, though, Lowe’s expects to continue gaining market share through focusing on products, such as appliances and flooring, and repair projects that are getting customers’ attention.

Shares of both Lowe’s and larger rival Home Depot Inc. (HD), which reports results Tuesday, each hit 52-week highs in April as homeowners this spring started to open their wallets for small renovation projects. Since then, though, shares have fallen sharply as worries mount that the U.S. economic recovery is slowing, which could lead to reduced consumer spending, and Lowe’s shares heading into Monday’s report were off 16% so far for the year.

For more:   http://online.wsj.com/article/BT-CO-20100816-708542.html





FHA 203k Home Renovation Financing Success Stories: Florida Family Purchased Auctioned Home And Completed Renovation Using Professional Contractors With Single Loan

23 06 2010

“…Ronald Black, a man who purchased a government-auctioned home in Lakeland, Florida, for just over $37,000 and then used monies from the FHA’s 203k loan program to significantly renovate the home….”

After closing on the home at the end of February, Black began renovations using Lowe’s services in mid-March. Contractors began the extensive work that included new electrical wiring of the entire home. “The home’s electrical system was nowhere near modern-day codes,” Black explained recently. “It would never have passed inspection.”

And now, the end result is the equivalent of a brand-new home.

“We had a few minor delays, with ordering materials and coordinating install times, but nothing major,” adds Black. “The Lowe’s people were really nice. The leader of the crew, Will, was great—we understood each other really well. He understood my bottom line and that we needed to stay within the budget.”

Renovation Specialists http://www.reolenders.com/

Lowe’s contractors installed an entirely new electrical system—including air conditioning and heating—and completed plumbing work and wall repair. “This house never had central heat and air…now it has that and ceiling fans,” says Black.

Additionally, contractors added carpeting and new floors and renovated the entire kitchen with new cabinets and kitchen appliances. They also installed a new hot water heater, poured a 500-square-foot cement porch and put up a double fence.

“From the bottom of my heart, I truly thank everyone at Lowe’s who was involved.”

For more:   http://rismedia.com/2010-06-21/home-sweet-home-after-six-months-florida-family-moves-into-203k-loan-renovated-home/