Tuesday, July 6, 2010
Friday, July 2, 2010
Sales Data - Carolina Beach, NC
Carolina Beach, NC:
In Carolina Beach, real estate activity for this past week was mild. Carolina Beach saw five properties go UNDER CONTACT this week with list prices ranging from $125,000 to $795,000. These contracts consist of five homes, and no parcels of land. With regards to SALES, this week Carolina Beach had six closings, with sales prices ranging from $99,000 to $337,000. The average sales price was $214,550, the average price / square foot was $175, and the average days on market were 321. Year-to-date there has been 131 total SALES in Carolina Beach. Currently there are 113 homes for sale, 244 condos for sale, and 130 parcels of land for sale. The highest price of a home is offered at $2,599,900.
In Carolina Beach, real estate activity for this past week was mild. Carolina Beach saw five properties go UNDER CONTACT this week with list prices ranging from $125,000 to $795,000. These contracts consist of five homes, and no parcels of land. With regards to SALES, this week Carolina Beach had six closings, with sales prices ranging from $99,000 to $337,000. The average sales price was $214,550, the average price / square foot was $175, and the average days on market were 321. Year-to-date there has been 131 total SALES in Carolina Beach. Currently there are 113 homes for sale, 244 condos for sale, and 130 parcels of land for sale. The highest price of a home is offered at $2,599,900.
Sales Data - Kure Beach, NC
Kure Beach, NC:
In Kure Beach, real estate activity for this past week was mild. We saw two properties go UNDER CONTACT this week with list prices ranging from $257,900 to $379,000. These contracts consist of both homes, and no parcels of land. With regards to SALES, this week Kure Beach had two closings, with sales prices ranging from $209,000 to $336,000. The average sales price was $272,500, the average price / square foot was $185, and the average days on market were 50. Year-to-date there has been 47 total SALES in Kure Beach. Currently there are 81 homes for sale, 41 condos for sale, and 46 parcels of land for sale. The highest price of a home is offered at $1,995,000.
In Kure Beach, real estate activity for this past week was mild. We saw two properties go UNDER CONTACT this week with list prices ranging from $257,900 to $379,000. These contracts consist of both homes, and no parcels of land. With regards to SALES, this week Kure Beach had two closings, with sales prices ranging from $209,000 to $336,000. The average sales price was $272,500, the average price / square foot was $185, and the average days on market were 50. Year-to-date there has been 47 total SALES in Kure Beach. Currently there are 81 homes for sale, 41 condos for sale, and 46 parcels of land for sale. The highest price of a home is offered at $1,995,000.
Sales Data - Wilmington, NC
Wilmington, NC:
In Wilmington, real estate activity for this past week was busy. This stems from many closings as a result of the expiring the tax credit. Wilmington saw 44 properties go UNDER CONTACT this week with list prices ranging from $29,000 to $547,000. These contracts consist of 41 homes, and three parcels of land. With regards to SALES, this week Wilmington had 68 closings, with sales prices ranging from $39,000 to $876,000. The average sales price was $243,853, the average price / square foot was $153, and the average days on market were 140. Year-to-date there has been 1,262 total SALES in Wilmington. Currently there are 2,140 homes for sale, 328 condos for sale, and 792 parcels of land for sale. The highest price of a home is offered at $5,200,000.
In Wilmington, real estate activity for this past week was busy. This stems from many closings as a result of the expiring the tax credit. Wilmington saw 44 properties go UNDER CONTACT this week with list prices ranging from $29,000 to $547,000. These contracts consist of 41 homes, and three parcels of land. With regards to SALES, this week Wilmington had 68 closings, with sales prices ranging from $39,000 to $876,000. The average sales price was $243,853, the average price / square foot was $153, and the average days on market were 140. Year-to-date there has been 1,262 total SALES in Wilmington. Currently there are 2,140 homes for sale, 328 condos for sale, and 792 parcels of land for sale. The highest price of a home is offered at $5,200,000.
Monday, June 28, 2010
Sunday, June 27, 2010
Homes with Boat Slips
If you would like a home wiht a boat slip, please click here!
Homes available in Wilmington, Carolina Beach, Kure Beach, Wrightsville Beach.
Homes available in Wilmington, Carolina Beach, Kure Beach, Wrightsville Beach.
FOR SALE - Water front properties
Here are some great water front properties for sale. If you are interested in taking a look please call me!
Just click the text above to access!
Just click the text above to access!
Friday, June 25, 2010
How to Finance a Home?
We have great loan programs available through our lender partners, check them out:
100% - 100% USDA Financing (wow)!
90% - 90% LTV upto $1,500,000 (doctors program)
** Interest Rates as of 6/25/2010 @ 4.625 for a 30-year fixed!
** FHA 30-year fixed @ 4.75% (96.5% financing available)
These are super rates. Of course you will need to be credit worthy and the property will need to appraise for the purchase price.
If you would like more information please call your mortgage lender, or give me a buzz and we can talk!
100% - 100% USDA Financing (wow)!
90% - 90% LTV upto $1,500,000 (doctors program)
** Interest Rates as of 6/25/2010 @ 4.625 for a 30-year fixed!
** FHA 30-year fixed @ 4.75% (96.5% financing available)
These are super rates. Of course you will need to be credit worthy and the property will need to appraise for the purchase price.
If you would like more information please call your mortgage lender, or give me a buzz and we can talk!
Monday, June 21, 2010
Market Data - KURE BEACH, NC
FULL REPORT: http://www.coastwalkrealestate.com/blog/post/2010/06/13/Market-Data-Kure-Beach-NC.aspx
The median sales price for homes in Kure Beach NC for Mar 10 to May 10 was $275,000. This represents a decline of 26.1%, or $97,000, compared to the prior quarter and a decrease of 20.3% compared to the prior year. Sales prices have depreciated 38.8% over the last 5 years in Kure Beach. The average listing price for Kure Beach homes for sale on Trulia was $585,192 for the week ending Jun 09, which represents an increase of 0.5%, or $2,734, compared to the prior week and a decline of 0.4%, or $2,515, compared to the week ending May 19. Average price per square foot for Kure Beach NC was $219, an increase of 6.3% compared to the same period last year.
The median sales price for homes in Kure Beach NC for Mar 10 to May 10 was $275,000. This represents a decline of 26.1%, or $97,000, compared to the prior quarter and a decrease of 20.3% compared to the prior year. Sales prices have depreciated 38.8% over the last 5 years in Kure Beach. The average listing price for Kure Beach homes for sale on Trulia was $585,192 for the week ending Jun 09, which represents an increase of 0.5%, or $2,734, compared to the prior week and a decline of 0.4%, or $2,515, compared to the week ending May 19. Average price per square foot for Kure Beach NC was $219, an increase of 6.3% compared to the same period last year.
Market Data - CAROLINA BEACH, NC
FULL REPORT HERE:
http://www.coastwalkrealestate.com/blog/post/2010/06/13/Market-Data-Carolina-Beach-NC.aspx
The median sales price for homes in Carolina Beach NC for Mar 10 to May 10 was $195,000. This represents a decline of 18.1%, or $43,000, compared to the prior quarter and a decrease of 22% compared to the prior year. Sales prices have depreciated 35.6% over the last 5 years in Carolina Beach. The average listing price for Carolina Beach homes for sale on Trulia was $394,393 for the week ending Jun 09, which represents a decline of 1.9%, or $7,644, compared to the prior week and an increase of 5%, or $18,610, compared to the week ending May 19. Average price per square foot for Carolina Beach NC was $175, a decrease of 7.4% compared to the same period last year.
http://www.coastwalkrealestate.com/blog/post/2010/06/13/Market-Data-Carolina-Beach-NC.aspx
The median sales price for homes in Carolina Beach NC for Mar 10 to May 10 was $195,000. This represents a decline of 18.1%, or $43,000, compared to the prior quarter and a decrease of 22% compared to the prior year. Sales prices have depreciated 35.6% over the last 5 years in Carolina Beach. The average listing price for Carolina Beach homes for sale on Trulia was $394,393 for the week ending Jun 09, which represents a decline of 1.9%, or $7,644, compared to the prior week and an increase of 5%, or $18,610, compared to the week ending May 19. Average price per square foot for Carolina Beach NC was $175, a decrease of 7.4% compared to the same period last year.
Sunday, June 13, 2010
Wednesday, June 2, 2010
The Importance of Kitchens
The kitchen is the most important room to stage in your home. Potential home buyers will want to view it void of unnecessary countertop appliances and clutter. By showcasing your kitchen in the best possible light, you can potentially sell your home faster and increase the closing price. Even in a slow real estate market, making your kitchen attractive to a buyer could make the difference.
Clean up the kitchen
Studies have shown that one of the dirtiest places in the home is the kitchen. Before you list, pull out those rubber gloves and give everything a good scrub so that the kitchen sparkles. Replace unsightly floor tiles, or in a worst-case scenario, consider a complete floor makeover. Pay special attention to the cabinetry; in older homes, it is common to see cracks in the beaded caulking between the ceiling and the trim above the cupboards. For less than $10, you can buy a pre-mixed tube of crack filler and make it look like new. Also, to give the kitchen an inexpensive facelift, consider replacing the fixturing – an affordable way to give doors and drawers a second wind.
Clutter is a kitchen killer
Kitchens are the focal point of almost every home. A great rule of thumb for the staging of a kitchen is to leave no more than two appliances on your counter. After you have uncluttered the kitchen counter, brighten and soften the space by adding some fresh fruit, new dishtowels, a cookbook, and plants or flowers.
Modernizing today will help you sell tomorrow
Modernizing your kitchen can help you sell your home for years to come. Renovating your kitchen now will let you enjoy new appliances while boosting the value of your home for the future. While you may want to take specific appliances with you, stainless steel can make almost any kitchen sing. Another way to add value to your kitchen is to install concealed appliances – hiding the dishwasher and fridge, for example, can really spice up your kitchen for buyers. Also popular are dual microwave/convection oven (prices can vary between $200 - $900 for higher-end stainless built-ins) – another appliance quickly becoming a staple in most modern kitchens.
If you can’t replace appliances, be sure to have them repaired and cleaned. It’s also a good idea to clean your fridge and stove, as buyers will almost always open oven and fridge doors.
Lighting
Take the time to make sure all the existing light fixtures have working light bulbs. Make sure the blinds are open on all the windows and, if required, add a small table lamp or two to accent a dark corner.
… And the kitchen sink
Another kitchen remodeling idea is to upgrade your “sinkware.” New faucets, soap dispensers and sinks (whether you are reglazing or replacing altogether) are affordable ways to give the kitchen an immediate facelift. Don’t forget, buyers love to turn on the kitchen faucet when touring a home.
The kitchen is the most important room and biggest selling feature in your house. Staging it properly can make every potential buyer say, “this could be my kitchen.”
Clean up the kitchen
Studies have shown that one of the dirtiest places in the home is the kitchen. Before you list, pull out those rubber gloves and give everything a good scrub so that the kitchen sparkles. Replace unsightly floor tiles, or in a worst-case scenario, consider a complete floor makeover. Pay special attention to the cabinetry; in older homes, it is common to see cracks in the beaded caulking between the ceiling and the trim above the cupboards. For less than $10, you can buy a pre-mixed tube of crack filler and make it look like new. Also, to give the kitchen an inexpensive facelift, consider replacing the fixturing – an affordable way to give doors and drawers a second wind.
Clutter is a kitchen killer
Kitchens are the focal point of almost every home. A great rule of thumb for the staging of a kitchen is to leave no more than two appliances on your counter. After you have uncluttered the kitchen counter, brighten and soften the space by adding some fresh fruit, new dishtowels, a cookbook, and plants or flowers.
Modernizing today will help you sell tomorrow
Modernizing your kitchen can help you sell your home for years to come. Renovating your kitchen now will let you enjoy new appliances while boosting the value of your home for the future. While you may want to take specific appliances with you, stainless steel can make almost any kitchen sing. Another way to add value to your kitchen is to install concealed appliances – hiding the dishwasher and fridge, for example, can really spice up your kitchen for buyers. Also popular are dual microwave/convection oven (prices can vary between $200 - $900 for higher-end stainless built-ins) – another appliance quickly becoming a staple in most modern kitchens.
If you can’t replace appliances, be sure to have them repaired and cleaned. It’s also a good idea to clean your fridge and stove, as buyers will almost always open oven and fridge doors.
Lighting
Take the time to make sure all the existing light fixtures have working light bulbs. Make sure the blinds are open on all the windows and, if required, add a small table lamp or two to accent a dark corner.
… And the kitchen sink
Another kitchen remodeling idea is to upgrade your “sinkware.” New faucets, soap dispensers and sinks (whether you are reglazing or replacing altogether) are affordable ways to give the kitchen an immediate facelift. Don’t forget, buyers love to turn on the kitchen faucet when touring a home.
The kitchen is the most important room and biggest selling feature in your house. Staging it properly can make every potential buyer say, “this could be my kitchen.”
Color plays a big part in selling a house.
Color plays a big part in selling a house. How you decide to dress your walls can convince a buyer that your home is move-in ready or leave them looking elsewhere. If the goal is to see the sparkle of “love at first sight,” consider picking the right paint palette to suit a range of buyer tastes.
Proper Preparation
When you paint your walls, make sure you prepare the walls properly. Before you start, use a pre-made crack filler or drywall compound to fill in minor cracks and old picture hook holes. Lightly sanding baseboards, window frames and doors is also a great way to ensure that your paint will adhere to the surfaces properly. Make sure you are using the same base paint that currently exists on the surface you are repainting. Latex on latex, and oil base on oil base.
Picking The Magical Colors
Color choices are plentiful, as are the types of paints. When selecting interior colors, consider how you use each room or the feeling that you want to create for the space. White is a great accent, but for walls it is a harsh and cold color. Instead of white, choose warm, inviting and neutral paint colors such as yellows, warm beige and olive tones.
The best rule of thumb for home remodeling is to stick to a color palette that isn’t too bland but also isn’t too bold. For smaller spaces, such as bathrooms, choose colors that make the room look bigger such as warmer whites. For the bigger rooms, select a paint that is a couple shades darker to create a cozy atmosphere. For bedrooms, calming paint colors work best.
Make sure the palette you create flows from room to room. At paint stores, purchase a smaller can of paint and test it on the walls before committing to the color for the entire room.
Wallpaper Can Be A "Turnoff"
Potential homebuyers don’t always like wallpaper or at least the wallpaper you may have chosen 15 years ago. They want simple, clean, warm and inviting rooms and not the potential headache of steam cleaners and wallpaper removal. It is a good idea to consider removing wallpaper or at the very least painting over it where necessary in order to open the space and make the room feel fresh and clean.
Don’t Forget To Look Up
Potential buyers notice water stains and old-fashioned ceilings. If you have a home with a stucco ceiling, it can date your home to a buyer. Before you show your home, consider painting the ceiling with flat white paint. If you have crown molding, make sure you use the same ceiling paint for a consistent professional look.
Learn From The Experts
Choosing a wall color can be overwhelming. If you don’t know or are unsure, ask the professionals. A Better Homes and Gardens® Real Estate sales associate can help you make some of these decisions. Additionally, the mega hardware and home decorating locations have experts who are ready to help you with your decorating dilemmas. When reading magazines, tear out photos of rooms that look appealing and inviting and match the wall colors at the store. Paint color can help you sell a house faster. A fresh coat of paint makes the walls fresh and clean to create an inviting environment for a homebuyer.
Proper Preparation
When you paint your walls, make sure you prepare the walls properly. Before you start, use a pre-made crack filler or drywall compound to fill in minor cracks and old picture hook holes. Lightly sanding baseboards, window frames and doors is also a great way to ensure that your paint will adhere to the surfaces properly. Make sure you are using the same base paint that currently exists on the surface you are repainting. Latex on latex, and oil base on oil base.
Picking The Magical Colors
Color choices are plentiful, as are the types of paints. When selecting interior colors, consider how you use each room or the feeling that you want to create for the space. White is a great accent, but for walls it is a harsh and cold color. Instead of white, choose warm, inviting and neutral paint colors such as yellows, warm beige and olive tones.
The best rule of thumb for home remodeling is to stick to a color palette that isn’t too bland but also isn’t too bold. For smaller spaces, such as bathrooms, choose colors that make the room look bigger such as warmer whites. For the bigger rooms, select a paint that is a couple shades darker to create a cozy atmosphere. For bedrooms, calming paint colors work best.
Make sure the palette you create flows from room to room. At paint stores, purchase a smaller can of paint and test it on the walls before committing to the color for the entire room.
Wallpaper Can Be A "Turnoff"
Potential homebuyers don’t always like wallpaper or at least the wallpaper you may have chosen 15 years ago. They want simple, clean, warm and inviting rooms and not the potential headache of steam cleaners and wallpaper removal. It is a good idea to consider removing wallpaper or at the very least painting over it where necessary in order to open the space and make the room feel fresh and clean.
Don’t Forget To Look Up
Potential buyers notice water stains and old-fashioned ceilings. If you have a home with a stucco ceiling, it can date your home to a buyer. Before you show your home, consider painting the ceiling with flat white paint. If you have crown molding, make sure you use the same ceiling paint for a consistent professional look.
Learn From The Experts
Choosing a wall color can be overwhelming. If you don’t know or are unsure, ask the professionals. A Better Homes and Gardens® Real Estate sales associate can help you make some of these decisions. Additionally, the mega hardware and home decorating locations have experts who are ready to help you with your decorating dilemmas. When reading magazines, tear out photos of rooms that look appealing and inviting and match the wall colors at the store. Paint color can help you sell a house faster. A fresh coat of paint makes the walls fresh and clean to create an inviting environment for a homebuyer.
Friday, May 14, 2010
Wilmington, NC - Real Estate
Cost of Living Calculator:
http://www.coastwalkrealestate.com/blog/post/2010/05/08/Cost-of-Living-Calculator.aspx
This is a great tool to use in your evaluation of Wilmington!
http://www.coastwalkrealestate.com/blog/post/2010/05/08/Cost-of-Living-Calculator.aspx
This is a great tool to use in your evaluation of Wilmington!
Wilmington, NC - Real Estate
Find a Home in Wilmington, North Carolina:
http://www.coastwalkrealestate.com/idx/search/results.aspx?showcompanyonly=true
It's Fast, It's Easy, It's Free!
http://www.coastwalkrealestate.com/idx/search/results.aspx?showcompanyonly=true
It's Fast, It's Easy, It's Free!
Carolina Beach Real Estate
Find Us On The Web:
http://www.coastwalkrealestate.com/real-estate/sellers/the-web.aspx
Search all homes in Carolina Beach, Kure Beach, and Wilmington!
Fast, Easy, Free
http://www.coastwalkrealestate.com/real-estate/sellers/the-web.aspx
Search all homes in Carolina Beach, Kure Beach, and Wilmington!
Fast, Easy, Free
100% Financing - Beach Homes
We have engaged a local lender that is offering 100% USDA Financing on eligible homes. If you are interested in add'l details please contact Coastwalk Real Estate. This is a great opportunity for you and your family!
April 2010 Sales Stats
April 2010 Sales Stats for Wilmington, NC
http://www.wrar.com/LocalArea/StatisticalReports/statisticalreport.htm
Looking to Buy or Sell? You will find no one other better fit to represent you!
http://www.wrar.com/LocalArea/StatisticalReports/statisticalreport.htm
Looking to Buy or Sell? You will find no one other better fit to represent you!
Sunday, May 9, 2010
Real Estate Agents - Who Should I Use?
If you are looking for a real estate agent, whether buying or selling, please consider Coastwalk Real Estate
http://www.coastwalkrealestate.com/idx/associate/index.aspx
The Coastwalk Real Estate team is a cohesive group of smart, creative and ambitious licensed REALTORS who are among the finest in New Hanover County’s hard-charging real estate market. They are renowned for their industry acumen, creative marketing, negotiation skills and superior customer service.
The team’s collective finger is on the pulse of the area’s real estate market, meaning the counsel they provide their clients – whether they are sellers, buyers or investors – is given in ‘real-time’ and not based on stale facts. That means that their pricing recommendations, staging recommendations, marketing suggestions, advice on when to sell or to buy, and market forecasts are taken very seriously by their clients. Their customers know that the team is personally invested in their housing quest and that each team member will address their needs as if they were their own.
http://www.coastwalkrealestate.com/idx/associate/index.aspx
The Coastwalk Real Estate team is a cohesive group of smart, creative and ambitious licensed REALTORS who are among the finest in New Hanover County’s hard-charging real estate market. They are renowned for their industry acumen, creative marketing, negotiation skills and superior customer service.
The team’s collective finger is on the pulse of the area’s real estate market, meaning the counsel they provide their clients – whether they are sellers, buyers or investors – is given in ‘real-time’ and not based on stale facts. That means that their pricing recommendations, staging recommendations, marketing suggestions, advice on when to sell or to buy, and market forecasts are taken very seriously by their clients. Their customers know that the team is personally invested in their housing quest and that each team member will address their needs as if they were their own.
REAL ESTATE INFORMATION
Design Tips: How to Design Your Living Room
http://www.coastwalkrealestate.com/blog/post/2010/05/08/Design-Tips-Living-Family-Room.aspx
Search All New Listings:
http://www.coastwalkrealestate.com/idx/search/results.aspx?recordagemax=2&county=New%20Hanover
http://www.coastwalkrealestate.com/blog/post/2010/05/08/Design-Tips-Living-Family-Room.aspx
Search All New Listings:
http://www.coastwalkrealestate.com/idx/search/results.aspx?recordagemax=2&county=New%20Hanover
Sunday, April 25, 2010
REAL ESTATE ALERT: New Listings in Wilmington, Carolina & Kure Beach
If you are looking to buy a home or condo, please view the most recent listings, and our most popular properties by clicking this link!
http://www.coastwalkrealestate.com/idx/search/results.aspx?showcompanyonly=true
http://www.coastwalkrealestate.com/idx/search/results.aspx?showcompanyonly=true
Landscaping Tips
I invite you to view some quick landscaping tips, sure to make a difference.
Click Here For Landscaping Tips
Buying or Selling Real Estate? I can help. I am available seven days a week, at all reasonable hours!
Click Here For Landscaping Tips
Buying or Selling Real Estate? I can help. I am available seven days a week, at all reasonable hours!
Monday, April 19, 2010
Home Improvement Tips - Under $30 (Wilmington, Carolina Beach, Kure Beach)
Real Estate - Carolina Beach, Kure Beach, Wilmington, NC: Let me help you find your perfect property. I am available 7 days a week, at all reasonable hours to assist. You can reach me at 910-458-9119, or online at http://www.coastwalkrealestate.com/
Home Improvement Tips - Under $30
Watch 4 Minute Video, Click Here
Home Improvement Tips - Under $30
Watch 4 Minute Video, Click Here
Tuesday, April 6, 2010
The Top 5 Tax Perks for Buyers, Sellers and Homeowners - 2009 Tax Edition
The Top 5 Tax Perks for Buyers, Sellers and Homeowners - 2009 Tax Edition
by Tara-Nicholle Nelson
Trulia's In-house Consumer Advocate
It's tax time, but it doesn't have to be excruciating, especially if you bought, sold or owned a home in 2009. While so many of us think of tax time as time to write a check, the Obama Administration's stimulus package promised to reverse that tradition, effectively writing a check (in tax credit format) to buyers, sellers and even short sellers and those who lost a home through foreclosure.
Take this quick list of tax tips to your personal tax guru and cash in your check from Uncle Sam!
1. 2009-10 First-time Homebuyer
Tax Credit
•Who It Helps: Recent (or current!) homebuyers who had not owned a home in the 3 years prior to buying, but bought one in 2009 or this year (must be in contract on or before April 30, 2010). Depending on when you bought (or buy! there's still some time left!) income and purchase price limits may apply.
•How It Helps: Depending on your income and purchase price, you can receive up to an $8,000 fully refundable tax credit. (That means if you were already getting a refund, you'll get a bigger one!) You can claim the credit on your 2009 tax return (the one you file on April 15th), even if you bought in 2010.
•More Info: http://www.realtor.org/home_buyers_and_sellers/2009_first_time_home_buyer_tax_credit
•IMPORTANT NOTE: Per the IRS website, "because of the documentation requirements for claiming the credit, taxpayers who claim the credit on their 2009 tax return must file a paper — not electronic — return and attach Form 5405."
2. 2009-10 Move-Up Buyer Tax Credit
•Who It Helps: Current homeowners who have lived in the home they are selling, or have already sold, as their principal residence for five consecutive years of the last eight years who closed escrow between November 7, 2009 and July 1, 2010, so long as they are in contract on or before April 30, 2010.
•How It Helps: Eligible homeowners can receive a tax credit of as much as $6,500, depending on income. You can claim the credit on your 2009 tax return (the one you file on April 15th), even if you bought in 2010.
•More Info: http://www.realtor.org/home_buyers_and_sellers/2009_first_time_home_buyer_tax_credit
•IMPORTANT NOTE: Can't e-file to collect this one, either - see #1, above.
3. Energy Efficient Housing Tax Credits
•Who It Helps: Homeowners who invested in making their homes more energy-efficient in 2009 and 2010.
•How it helps: Offers them a 30 percent tax credit on qualifying purchases of energy-efficient furnaces, windows and insulation.
•More Info: http://www.realtor.org/government_affairs/gapublic/american_recovery_reinvestment_act_home#energy
4. Private Mortgage Insurance Deduction
•Who It Helps: Homeowners who bought a home in 2009, and put less than 20 percent down on their homes. These are the folks whose lenders required them to pay for PMI, or private mortgage insurance.
•How It Helps: Allows them to deduct the costs - upfront and monthly - of PMI.
•More Info: http://www.irs.gov/pub/irs-pdf/p936.pdf
5. The Mortgage Forgiveness Debt Relief Act
•Who It Helps: Short sellers, owners who lost homes through foreclosures or had their mortgage balance reduced through loan modifications.
•How It Helps: Normally, when a loan is cancelled or forgiven through, for example, a short sale or foreclosure, the cancelled debt is transformed into taxable income - and the IRS comes looking for their cut. Under this Act, qualifying mortgage debt forgiven through foreclosure, short sale or loan modification is allowed to be excluded from taxable income. The forgiven mortgage debt must be a loan on your personal residence, and must be related to the purchase of your home (if you pulled a bunch of cash out and did a short sale on that mortgage, you might not qualify).
•More Info: http://www.irs.gov/individuals/article/0,,id=179414,00.html
On top of these above-and-beyond tax credits, deductions and exemptions, longtime and brand-new homeowners should also look forward to claiming meaty tax deductions for basic closing costs (origination fees, taxes and points - oh my!), property taxes and mortgage interest deductions.
As always, talk to your tax preparer to see if you qualify for any of these tax perks. And don't delay - the countdown to April 15th is on.
by Tara-Nicholle Nelson
Trulia's In-house Consumer Advocate
It's tax time, but it doesn't have to be excruciating, especially if you bought, sold or owned a home in 2009. While so many of us think of tax time as time to write a check, the Obama Administration's stimulus package promised to reverse that tradition, effectively writing a check (in tax credit format) to buyers, sellers and even short sellers and those who lost a home through foreclosure.
Take this quick list of tax tips to your personal tax guru and cash in your check from Uncle Sam!
1. 2009-10 First-time Homebuyer
Tax Credit
•Who It Helps: Recent (or current!) homebuyers who had not owned a home in the 3 years prior to buying, but bought one in 2009 or this year (must be in contract on or before April 30, 2010). Depending on when you bought (or buy! there's still some time left!) income and purchase price limits may apply.
•How It Helps: Depending on your income and purchase price, you can receive up to an $8,000 fully refundable tax credit. (That means if you were already getting a refund, you'll get a bigger one!) You can claim the credit on your 2009 tax return (the one you file on April 15th), even if you bought in 2010.
•More Info: http://www.realtor.org/home_buyers_and_sellers/2009_first_time_home_buyer_tax_credit
•IMPORTANT NOTE: Per the IRS website, "because of the documentation requirements for claiming the credit, taxpayers who claim the credit on their 2009 tax return must file a paper — not electronic — return and attach Form 5405."
2. 2009-10 Move-Up Buyer Tax Credit
•Who It Helps: Current homeowners who have lived in the home they are selling, or have already sold, as their principal residence for five consecutive years of the last eight years who closed escrow between November 7, 2009 and July 1, 2010, so long as they are in contract on or before April 30, 2010.
•How It Helps: Eligible homeowners can receive a tax credit of as much as $6,500, depending on income. You can claim the credit on your 2009 tax return (the one you file on April 15th), even if you bought in 2010.
•More Info: http://www.realtor.org/home_buyers_and_sellers/2009_first_time_home_buyer_tax_credit
•IMPORTANT NOTE: Can't e-file to collect this one, either - see #1, above.
3. Energy Efficient Housing Tax Credits
•Who It Helps: Homeowners who invested in making their homes more energy-efficient in 2009 and 2010.
•How it helps: Offers them a 30 percent tax credit on qualifying purchases of energy-efficient furnaces, windows and insulation.
•More Info: http://www.realtor.org/government_affairs/gapublic/american_recovery_reinvestment_act_home#energy
4. Private Mortgage Insurance Deduction
•Who It Helps: Homeowners who bought a home in 2009, and put less than 20 percent down on their homes. These are the folks whose lenders required them to pay for PMI, or private mortgage insurance.
•How It Helps: Allows them to deduct the costs - upfront and monthly - of PMI.
•More Info: http://www.irs.gov/pub/irs-pdf/p936.pdf
5. The Mortgage Forgiveness Debt Relief Act
•Who It Helps: Short sellers, owners who lost homes through foreclosures or had their mortgage balance reduced through loan modifications.
•How It Helps: Normally, when a loan is cancelled or forgiven through, for example, a short sale or foreclosure, the cancelled debt is transformed into taxable income - and the IRS comes looking for their cut. Under this Act, qualifying mortgage debt forgiven through foreclosure, short sale or loan modification is allowed to be excluded from taxable income. The forgiven mortgage debt must be a loan on your personal residence, and must be related to the purchase of your home (if you pulled a bunch of cash out and did a short sale on that mortgage, you might not qualify).
•More Info: http://www.irs.gov/individuals/article/0,,id=179414,00.html
On top of these above-and-beyond tax credits, deductions and exemptions, longtime and brand-new homeowners should also look forward to claiming meaty tax deductions for basic closing costs (origination fees, taxes and points - oh my!), property taxes and mortgage interest deductions.
As always, talk to your tax preparer to see if you qualify for any of these tax perks. And don't delay - the countdown to April 15th is on.
Dust If You Must
Remember...a layer of dust protects the wood beneath it. A house becomes a home when you can write 'I love you' on the furniture .'
I used to spend at least 8 hours every weekend making sure things were just perfect - 'in case someone came over'. Finally I realized one day that no-one came over; they were all out living life and having fun!
NOW, when people visit, I don't have to explain the 'condition' of my home. They are more interested in hearing about the things I've been doing while I was away living life and having fun.
If you haven't figured this out yet, please heed this advice. Life is short. Enjoy it!
Dust if you must .......but wouldn't it be better to paint a picture or write a letter, bake cookies or a cake and lick the spoon or plant a seed, ponder the difference between want and need?
Dust if you must, but there's not much time . . . . with shrimp to eat, rivers to swim and mountains to climb , music, to hear and books to read, friends to cherish and life to lead.
Dust if you must, but the world's out there with the sun in your eyes, the wind in your
hair, a flutter of snow, a shower of rain. This day will not come around again.
Dust if you must, but bear in mind, old age will come and it's not kind. . .
And when you go - and go you must - you, yourself will make more dust!
Share this with all the wonderful women in your life.
It's not what you gather, but what you scatter that tells what kind of life you have lived.
I used to spend at least 8 hours every weekend making sure things were just perfect - 'in case someone came over'. Finally I realized one day that no-one came over; they were all out living life and having fun!
NOW, when people visit, I don't have to explain the 'condition' of my home. They are more interested in hearing about the things I've been doing while I was away living life and having fun.
If you haven't figured this out yet, please heed this advice. Life is short. Enjoy it!
Dust if you must .......but wouldn't it be better to paint a picture or write a letter, bake cookies or a cake and lick the spoon or plant a seed, ponder the difference between want and need?
Dust if you must, but there's not much time . . . . with shrimp to eat, rivers to swim and mountains to climb , music, to hear and books to read, friends to cherish and life to lead.
Dust if you must, but the world's out there with the sun in your eyes, the wind in your
hair, a flutter of snow, a shower of rain. This day will not come around again.
Dust if you must, but bear in mind, old age will come and it's not kind. . .
And when you go - and go you must - you, yourself will make more dust!
Share this with all the wonderful women in your life.
It's not what you gather, but what you scatter that tells what kind of life you have lived.
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