Archive for the 'New Homes' Category
An Added Tax Advantage for Homeowners!
Posted by Carol Carey | Leave A Comment »
For those first time* home buyers still skeptical whether NOW is the best time to buy, you can add one more to the growing number of reasons to answer YES when asking yourself if NOW is the best time to purchase.
Offered as a stimulus to help the market’s recovery, the advantage I am referring to comes in the form of a TAX CREDIT available to qualifying buyers making less than $150,000 joint annual income when purchasing a primary residence between April 9, 2008 and June 30, 2009.
Whether it’s a new home or a resale, or a single-family residence or condominium dwelling doesn’t matter as long as it serves as your primary residence.
The TAX CREDIT is actually 10 percent of the purchase price or $7,500 - whichever is less - for married taxpayers filing jointly. For married taxpayers filing separately or single taxpayers, the maximum credit is $3,500. 
You can’t just sign a contract to buy a home by June 30, 2009, cutoff date, you must actually close escrow by that deadline to qualify to receive your TAX CREDIT. And the law does allow taxpayers to treat a sale closed in calendar year 2009 as if it occurred on December 31, 2008, meaning you can elect to accelerate to this year’s tax return!
This isn’t a tax deduction, which is subtracted from the amount of your taxable income, it’s a TAX CREDIT, which equates to a dollar-for-dollar reduction in what you owe, and you have 15 years to repay it at the rate of $500 per year.
However, you won’t be required to start making payments until two years after the credit is claimed. If you sell the home during the 15-year payback period, the remaining unpaid credit balance is due from the proceeds of the sale.
If this interest-free loan from Uncle Sam doesn’t sound like such a good deal, consider this example posted by the NAHB:
Assuming an interest rate of 7 percent and a maximum credit, you will save $4,200 in interest payments over the full payback period. Compare this to financing $7,500 as part of a 30-year, 7 percent mortgage, the credit is worth more than $8,100 in interest payments.
So buying your long awaited home NOW means you could wipe out what you will owe in taxes this year by as much as $7,500, or you may even qualify to get a check in the mail from Uncle Sam.
*You qualify as a First Time Homebuyer if you have not had an ownership interest in a primary residence in the three years immediately proceeding your closing date.
Popularity: 34% [?]
Related Posts: Builder Services, Condos & Townhomes, DiMaio Estates, Education, Financial news, New Homes
Pacific Beach Community Opens in Just Two weeks!
Posted by Cliff Mensch | Currently 1 Comment »
“Pacific Beach Sands will be open in just TWO weeks,” said Dave Parent, the Community Account Manager!
Pacific Beach Sands is located at 928 Hornblend St in Pacific Beach, close to the beach right and near all the action.
Enjoy a full and active lifestyle the moment you leave your doorstep—swimming, surfing, beach walking, sailing, jogging, bicycling, and all the many pleasures of coastal living. Known for its eclectic shops and boutiques, the Pacific Beach community offers a multitude of restaurants and night life and only minutes to the north is world-renowned La Jolla with its exclusive shopping and dining venues.
A blend of coastal charm and modern style, Pacific Beach Sands is your opportunity to own a well-appointed condominium home in the heart of Pacific Beach, one of San Diego’s most active and vibrant communities.
It’s easy to understand why there has been a lot of interest in this community!
Want more info? Questions?
Call Cliff Mensch (858) 205-8200 or e-mail: cmensch@windermere.com
Popularity: 31% [?]
Related Posts: Builder Services, Coastal Living, Find A Home, New Homes, Pacific Beach, Picture Perfect San Diego, San Diego
What Slowdown? DiMaio Just Sold Two More Homes!
Posted by Cliff Mensch | Leave A Comment »
Everyone keeps talking about the slow down in the San Diego real estate market, but DiMaio Estates in Escondido sold two more homes this past week!
Eve Martin, the on site agent, just won’t let the rest of the real estate industry slow down her community from selling out! Great value always comes through. When you have a gorgeous community with no melo roos, no HOA fees and a low tax base — well, that translates to a lower payment and quick home sales.
Some people may be intimidated by the market, but DiMaio estates has such a great formula set up that buying a home has never been more affordable!
Give Eve a call for more ideas on great deals or stop by for a private tour; we’re open daily except for Wednesdays and Tuesdays.
DiMaio phone number: (760) 781-1152
Popularity: 35% [?]
Related Posts: Builder Services, Buyers, DiMaio Estates, Escondido, Homeowners, New Homes
What is a “Slow Home” & How Can it Make My Life Better?
Posted by Carole Ferris | Currently 2 Comments »
Slow Home is an international movement devoted to bringing good design into real life. Slow Home got its name from the Slow Food Movement which came about as a counter to the processed food industry.
Quoting John Brown who is the editor of TheSlowHome.com and founder of the Slow Home Movement:
“The sprawl of cookie cutter housing that surrounds us is like fast fast food-standardized, homogeneous and wasteful. It contributes to a too fast life that is bad for us, our cities, and the environment.
In the same way that Slow Food Movement raises awareness of how the food we eat and the choices we make affect our lives, Slow Home provides design focused information to empower each of us to take more control of our homes and improve the quality of where and how we live”.
John Brown is a registered architect, real estate broker and a Professor of Architect at the University of Calgary.
The Slow Home Declaration is: “We acknowledge our collective responsibility to create CLOSE, SIMPLE, LIGHT places to live that leave a positive legacy for future generations”.
To heck with fast food and fast homes ~~~ I say slow down and smell the roses!
Watch the following interview John Brown conducts with Carl Honore, Canadian-born author of the bestselling book In Praise of Slowness (in which he plots the lineage of our speed-obsessed society)
If you value quality and craftsmanship, you can sign the Slow Home Declaration and show your support for beauty.
Want to learn more? Call me at (760) 434-4340 or email me!
Popularity: 45% [?]
Related Posts: Find A Home, Home Improvement, Homeowners, New Homes, Video Interviews
