In many areas of the country about "half" the homes sold recently have been bank foreclosed properties or short sales. It's no secret that many of these types of properties have been neglected or even vandalized by the former owners. I've seen homes where evicted owners have gone through the place with sledge hammers! If a person can't afford the basic responsibility of keeping their home, naturally they would not have been investing into the upkeep for the home. With that in mind, most of these home will have to undergo major renovations.

The good news is that the new stimulus tax package does take this matter into consideration. To help buyers of foreclosed homes, or even for existing homeowners, is an expanded remodeling tax credit for "energy efficient" home improvements through 2010. So, if we combine the amount of foreclosed properties sold that will need remodeling, with people that want to remodel their present home since they can't sell it, along with the available tax credits, well ... we could have a new gold rush! Ed's "common sense" says that the real "green" in building (I'm talking about the money.) will be in the remodeling business for the foreseeable future.

Some basics you need to know about the federal tax credits for energy efficient home improvements include: Partial "installation" costs are included for some projects like "high efficiency" fuel fired heating and cooling systems, solar water heating systems, geothermal heat pumps, and wind power systems.

Only "material" costs are eligible for projects like: efficient window units, doors, and roofs. In all cases receipts and factory specifications need to be saved to see if they qualify for the tax credits. Some improvements may not qualify for the credits such as: Kitchen appliances, window air conditioners, washers and dryers. But consumers are still urged to make sure all appliances are "Energy Star" rated. I hope my "common sense" guide helped motivate you to look into these tax credits so you'll end up with a lot of extra "cents" in your pockets!