![]() |
|
|
Another great Century 21 New Millennium Open House this Saturday, 7th, 2009, between 12-3 PM in Solomons MD Clipper Cir.
| Directions: | |||
| RT 4 to Solomons to the entrance of Patuxent Point to right on Clipper Circle |
For more info or pictures call me @ 305-797-1171 or gabriela.agostinelli@c21nm.com

Remarks: Nestled in the town of Solomons this 3 bedroom 2.5 bath townhome is just minutes away from beautiful Solomons Island. Spacious living room with a fireplace, master bedroom with a balcony, rear patio with a fish pond. All this and great restaurants and shopping. Also very close to lots of water activities.
List Price: $239,000
Wood Burning fireplace.
Year Built: 1989
| Bedrooms: | 3 |
| Baths: | 2.5 |
![]() |
|
|

Don't miss this Open House today from 11-3 PM in Mechanicsville, MD on North Sandgates RD
For more details please call me @ 305-797-1171 or gabriela.agostinelli@c21nm.com



TWO five acre lots, one with the house, one with a perc, GREAT FOR INVESTORS/BUILDERS, hunting and four wheeling. Country kitchen and 24x13 living/dining room with fireplace. Home needs TLC and minor repairs. Estate sale sold AS IS. Home Warranty. Screened in side porch/sun room. 48x36 metal workshop/multi-garage with concrete floor, office space and separate electricity.
Basement: Yes
| Bedrooms: | 3 |
| Full Baths: | 2 |
#Fireplaces: 1
List Price: $325,000
| Directions: | |||
| North on 235 from C21New Millennium office to right on Rt472 North Sandgates Road. Sign on property. |
![]() |
|
|
FHA FINANCING IS A GOOD CHOICE FOR MARYLAND HOME BUYERS
LOW DOWN PAYMENT AND SELLER CAN ASSIST WITH CLOSING COST
Down payment only 3.5% of the purchase price
100% financing available though Gifts and Grants
No Bank reserves or savings required
Seller can credit up to 6% to pay towards buyers closing cost.
EASIER TO QUALIFY FOR FHA THAN FOR MOST CONVENTIONAL PROGRAMS
No Minimum Credit score of FICO score requirement
FHA will allow you to purchase a home 2 years after a bankruptcy
FHA will allow a purchase of a home 3 years after a foreclosure.
EASY JOB REQUIREMENTS AND HIGH DEBT RATIOS ARE ALLOWED
Less than 2 years on the job is okay
Sell employed is okay
EVERY PROSPECTIVE HOME BUYER SHOULD HAVE A PRE-APPROVAL LETTER FROM THEIR MORTGAGE LENDER.
Please ask us for a referral to a lender if you do not have a personal relationship with your loan officer.
![]() |
|
|
It has been made official and expanded! This is great news!
So what does this mean for you, the homebuyer?
Eligibility and amount of new credit:
Below is a chart prepared by the National Association of REALTORS® that details the changes from the expiring credit to the new credit:

The following website is a great resource to explain the tax credit and has many answers to FAQ:
http://www.federalhousingtaxcredit.com/home.html
Questions about the $8,000 Tax Credit – a few questions answered from the site:
http://www.federalhousingtaxcredit.com/faq1.php
Who is eligible to claim the $8,000 tax credit?
First-time home buyers purchasing any kind of home—new or resale—are eligible for the tax credit. To qualify for the tax credit, a home purchase must occur on or after January 1, 2009 and on or before April 30, 2010. For the purposes of the tax credit, the purchase date is the date when closing occurs and the title to the property transfers to the home owner. A limited exception exists for certain contract for deed purchases and installment sale purchases. See the IRS website for more detail.
However, the law also allows home sales occurring by June 30, 2010 to qualify, provided they are due to a binding sales contract in force on or before April 30, 2010.
Persons who are claimed as dependents by other taxpayers or who are under age 18 are not qualified for the tax credit program.
What is the definition of a first-time home buyer?
The law defines “first-time home buyer” as a buyer who has not owned a principal residence during the three-year period prior to the purchase. For married taxpayers, the law tests the homeownership history of both the home buyer and his/her spouse.
For example, if you have not owned a home in the past three years but your spouse has owned a principal residence, neither you nor your spouse qualifies for the first-time home buyer tax credit. However, IRS Notice 2009-12 allows unmarried joint purchasers to allocate the credit amount to any buyer who qualifies as a first-time buyer, such as may occur if a parent jointly purchases a home with a son or daughter. Ownership of a vacation home or rental property not used as a principal residence does not disqualify a buyer as a first-time home buyer
How is the amount of the tax credit determined?
The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
Are there any income limits for claiming the tax credit?
Yes. For sales occuring after November 6, 2009, the income limit for single taxpayers is $125,000; the limit is $225,000 for married taxpayers filing a joint return. The tax credit amount is reduced for buyers with a modified adjusted gross income (MAGI) of more than $125,000 for single taxpayers and $225,000 for married taxpayers filing a joint return. The phaseout range for the tax credit program is equal to $20,000. That is, the tax credit amount is reduced to zero for taxpayers with MAGI of more than $145,000 (single) or $245,000 (married) and is reduced proportionally for taxpayers with MAGIs between these amounts.
How is this home buyer tax credit different from the tax credit that Congress enacted in early 2009?
The tax credit’s income limits were increased, the documentation requirements were tightened, and the program's deadlines were extended.
How do I claim the tax credit? Do I need to complete a form or application? Are there documentation requirements?
You claim the tax credit on your federal income tax return. Specifically, home buyers should complete IRS Form 5405 to determine their tax credit amount, and then claim this amount on line 67 of the 1040 income tax form for 2009 returns (line 69 of the 1040 income tax form for 2008 returns). No other applications are required, and no pre-approval is necessary. However, you will want to be sure that you qualify for the credit under the income limits and first-time home buyer tests. Note that you cannot claim the credit on Form 5405 for an intended purchase for some future date; it must be a completed purchase. Home buyers must attach a copy of their HUD-1 settlement form (closing statement) to Form 5405 as proof of the completed home purchase.
Questions about the $6,500 Tax Credit for repeat buyers – a few questions from the site:
http://www.federalhousingtaxcredit.com/faq2.php
Who is eligible to claim the $6,500 tax credit?
Qualified move-up or repeat home buyers purchasing any kind of home are eligible to claim this credit.
What is the definition of a move-up or repeat home buyer?
The law defines a tax credit qualified move-up home buyer (“long-time resident”) as a home owner who has owned and resided in a home for at least five consecutive years of the eight years prior to the purchase date. For married taxpayers, the law tests the homeownership history of both the home buyer and his/her spouse. Repeat home buyers do not have to purchase a home that is more expensive than their previous home to qualify for the tax credit.
How is the amount of the tax credit determined?
The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $6,500. Purchases of homes priced above $800,000 are not eligible for the tax credit.
Are there any income limits for claiming the tax credit?
Yes. The income limit for single taxpayers is $125,000; the limit is $225,000 for married taxpayers filing a joint return. The tax credit amount is reduced for buyers with a modified adjusted gross income (MAGI) above those limits. The phaseout range for the tax credit program is equal to $20,000. That is, the tax credit amount is reduced to zero for taxpayers with MAGI of more than $145,000 (single) or $245,000 (married) and is reduced proportionally for taxpayers with MAGIs between these amounts.
What types of homes will qualify for the tax credit?
Any home that will be used as a principal residence will qualify for the credit, provided the home is purchased for a price less than or equal to $800,000. This includes single-family detached homes, attached homes like townhouses and condominiums, manufactured homes (also known as mobile homes) and houseboats. The definition of principal residence is identical to the one used to determine whether you may qualify for the $250,000 / $500,000 capital gain tax exclusion for principal residences.
It is important to note that you cannot purchase a home from, among other family members, your ancestors (parents, grandparents, etc.), your lineal descendants (children, grandchildren, etc.) or your spouse or your spouse’s family members. Please consult with your tax advisor for more information. Also see IRS Form 5405.
If you are thinking about buying, it is a really good time to make a move!!
Interest rates are still among the lowest in history! Now is the time to “get off the fence” and get into your new home!
![]() |
|
|
13 Reasons to list your HOME Fall and Winter 2009!
Why listing in the fall/winter might actually BENEFIT you verses waiting until the spring/summer
1A+++ BRAND NEW REASON+++ $6,500 tax credit if you sell and buy now.... And $8000 to a buyer - that's a good reason all by itself! Selling your home NOW is worth up to $14,500 in tax credits for you and the buyer if you sell BEFORE April 30th.

ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2009 ActiveRain Corp. All Rights Reserved