Remodeler’s Showcase – Whole Home Remodel in Delano – This Weekend!

We have 2 entires in this fall’s Remodeler’s Showcase. It’s going on this weekend only. Friday 1:00 – 7:00, and Saturday / Sunday 12:00 – 6:00. Stop by and check it out! 10985 Oak Shore Trail, Delano. We’ve also got an entry in Edina at 44th and France by Revision, LLC, our system company.

Our Delano entry home is For Sale!  This home has just undergone a total remodel – little remains of the original home.  1600+ feet of lakeshore on a private lake, fully recreational – waterskiing, fishing, etc…  A 2nd buildable lot is also included.  It’s a must see.

Geothermal heating and cooling systems are eligible for a 30% tax credit!

Most of the homes we have been building in the last 2 years have been heated and cooled with Geothermal heating and cooling systems.  Read below to understand why!

The Energy Credit

In October 2008, geothermal heat pumps were added to section 25D of the Internal Revenue Code. This created

a 30% tax credit for costs associated with qualified geothermal equipment “placed in service” through the end

of 2016. Property is usually considered to be placed in service when installation is complete and equipment is

ready for use. However, if the system is part of the construction or renovation of a house, it’s considered placed

in service when the taxpayer takes residence in the house.

• 30% of total system cost

• No limit to credit amount for 2009 and beyond

• Can be used to offset AMT tax

• Can be used in more than one year

• Can be combined with solar and wind tax credits

• Can be combined with energy efficiency upgrade credits

What’s Eligible

Geothermal equipment that uses the stored solar energy from the ground for heating and cooling, and that

meets Energy Star requirements at the time of installation is eligible for the tax credit. Covered expenditures

include labor for onsite preparation, assembly, or original system installation and for piping or wiring to connect

a system to the home. The structure must be located in the United States and used as a residence by the

taxpayer, although primary residency isn’t required. In fact, if geothermal is installed in more than one home,

there’s no limitation on the number of times the credit can be claimed.

What’s Not

The credit can’t be claimed for spending on equipment used solely for hot tub or pool conditioning, nor on

previously used equipment.

How to claim the Credit

Use IRS Form 5695 (2008) to claim the Residential Energy Efficient Property Credit. For property placed in

service after 2009 there’s no limit on the credit amount. The tax credit can be used to offset both regular

income taxes and alternative minimum taxes (AMT). If the federal tax credit exceeds tax liability, the excess

amount may be carried forward into future years. Spending on geothermal heat pump property adds to your

home’s cost basis, but also must be reduced by the amount of the tax credit received.

Check out more info here: Download

And the IRS tax form here:  Download

On the materials selections process

I’ve been in discussions with a group of builders about the importance of making all the project selections before starting a project.  A good friend summed up the need for making decisions very well:

“I always use the analogy of the car assembly line.  Can you imagine trying to build a car as it comes down the assembly line and there are no parts ordered, but the car is waiting to have them installed?  Not only would there be a major delay in the finished product but you’d never know the actual budget, there are bound to be huge cost overruns, poor quality… you name it.”  A great illustration of the importance of selecting materials before beginning the construction of their project.  – Anthony Lightman, Osprey Custom Homes

Stonewood featured in Luxury Home Quarterly!

We’ve been featured in this fine publication a few times now – Luxury Home Quarterly.

In discovering the array of custom homes that North America has to offer, Luxury Home Quarterly takes its readers into residences large and small, showcasing the people, projects, designs, and products that make up the custom-home industry.

Download the full article

Minneapolis seen as top housing market in 2011

1: Minneapolis-St. Paul-Bloomington Minn.-Wisc.

Health Index: 91.6

2011 Population Forecast: 3,326,400

2011 Total Building Permit Forecast: 4,511

2012 Total Building Permit Forecast: 10,118

If home prices are an indicator of market health–and some would say they are the best indicator–then Minneapolis is very healthy indeed. Home prices are expected to rise 8% next year, the highest rate among the 100 largest housing markets, and a big reason that Minneapolis finishes atop our healthy markets list.

A major hub for medical technology and the headquarters for many large corporations, Minneapolis appears poised for a big rebound in housing. One reason is that employment is forecasted to grow 2.5% next year. Building permit activity fell 21% in the first half of 2011, but it’s expected to more than double in 2012.

One negative in the market is that home prices plunged during the first half of 2011. Median home prices, $147,300 after the first half of the year, are down from $229,200 in 2006, a 36% drop that is close to the national average. Home prices have fallen 13% this year due to an increase in foreclosure sales. But Hanley Wood Market Intelligence expects prices to rebound next year.

The apartment market has been particularly strong in Minneapolis. As vacancy rates fell from 5% to 2.4%, developers started new projects, many aimed at a growing millennial (18-to-30 years old) population. Vacant units are reportedly hard to find in downtown Minneapolis and St. Paul.

Visit our Local Markets page for Minneapolis-St. Paul, MN to see more data and analysis.

Original article:  Click Here