Mark your calendars, "Cash For Clunkers" is coming to a real estate community near you! That's right, our Federal Government has fired-up the printing presses and has made $300M available (under the American Recovery and Reinvestment Act of 2009) for a new program designed to invigorate the real estate market.
Since this is the Tallahassee Real Estate Blog, this article will use the dates and facts specific to the program as it applies across the State of Florida. However, every State has it's own "piece of the action" and you can find out more information for your State at the U.S. Department of Energy Web Site.
Each state and U.S. territory was allowed to design its own rebate program, and all 56 have submitted plans to the U.S. Department of Energy. Florida's take on this program is over $17.5M, so you better get your plan ready if you want your "fair" share.
Florida Appliance Cash For Clunkers
On May 19, 2009 Governor Crist signed House Bill 167 as a continuation of his "commitment to increasing energy efficiency and stimulating the economy." This bill enables the Florida Energy and Climate Commission (FECC) to develop and manage guidelines for designating eligible appliances, rebate amounts and the process for issuing rebates.
The rebate program states that it will help Floridians buy appliances at discount rates, lower utility costs, and benefit Florida businesses by stimulating sales of energy-efficient appliances.
There will be six residential appliances that qualify for Florida’s 20% ENERGY STAR Appliance Rebate Program:
- Washing machines
- Dish washers
- Room air conditioners
- Gas tankless water heaters
Time For New Appliances In Your Home
Florida’s program will run from April 16 though April 25, 2010 and run in conjunction with Florida’s Earth Day events. To qualify for the rebate the ENERGY STAR appliance must be purchased during this period. There are no retroactive rebates.
So if you have been thinking about retiring that noisy washing machine, plan on buying it in mid April so that you can get a check back from President Obama!
Florida Cash For Clunkers Information
The rebate will be 20% of the purchase price(s) before taxes. The total amount of rebates and recycling fees that a residential address may receive is capped at $1,500.
Floridians may receive a rebate on the purchase of one of each type of appliance. They can receive a rebate on each appliance if they purchase 1 refrigerator, 1 washing machine, 1 dishwasher, 1 freezer, 1 room air conditioner, and 1 gas tankless water heater.
The rebate application will be a paper application to be mailed in along with the original purchase receipt. Check back with MyFloridaClimate.com in February to find out where to send the application. Important Note: Appliances will be rebated on a first come first serve basis as long as the money lasts, so plan on buying on April 16th and mailing the application on April 16th!
April 16th - Big Day For Real Estate Closings
If you are buying a home in Tallahassee, and you plan on closing near the middle of April, ask your real estate agent how you can schedule an April 16th closing to take advantage of this program and get $1,500 back from Uncle Sam! It will take quite a bit of coordination to make sure that everything is pulled together, so start your planning now!
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Joe Manausa, MBA is a 26 year veteran of real estate brokerage in Tallahassee, Florida and has owned and managed his own company since 1992. He is a daily blogger with content that focuses on real estate analytics and providing his clients with a tactical advantage in today's challenging market.