*Corporate Owned!* Easy to buy! Terrific first floor unit available in Wheaton! First floor access is great for entertaining on your patio, or if you have pets, you can easily let them outside.
This unit was remodeled and features stainless steel appliances, cherry cabinets, freshly painted walls and an in-unit washer and dryer.
Lowest priced unit in the building!
First-time homebuyers: How to get the $8,000 tax credit
WASHINGTON - Feb. 17, 2009 - How does a first-time homebuyer take advantage of the $8,000 tax credit that President Obama is expected to sign into law tomorrow? It comes with a few rules. According to the most recent analysis, the following rules will apply - though things could change as tax professionals weigh the details:
· The deduction is worth 10 percent of a home's value up to $8,000, which means all homes worth more than $80,000 could qualify for the maximum amount.
· There is an income limit to qualify. A married couples' modified adjusted gross income (MAGI) should be under $150,000 and single filers' MAGI should be less than $75,000.
· Partial tax credits may be available for married couples with MAGI incomes over $150,000 but under $170,000, and single filers with incomes over $75,000 but under $95,000.
· If married couples file separately, they can both claim 5 percent of the home purchase ($4,000 each for a home over $80,000) on their tax returns.
· It's a tax credit, not a deduction. That means the entire amount goes back to the first-time homebuyer unlike deductions, such as mortgage interest, that are subtracted from gross income before tax is calculated. If qualified for $8,000, the buyer gets $8,000, even if they would not owe that much in taxes otherwise.
· The tax credit applies to homes purchased between Jan. 1, 2009, and Dec. 31, 2009.
· The tax credit does not have to be paid back, providing the homebuyer keeps the property for at least 36 months and resides in the home.
· To qualify as a first-time homebuyer, the purchaser cannot have owned a home within the previous three-year period. However, ownership of a vacation home or rental home does not disqualify the buyer.
· If purchasing a new home, the effective date to receive the credit is the first day the homeowner actually lives in the house. If construction began in 2008, that buyer could still qualify. And if construction begins in 2009 but the owner does not take possession until 2010, the buyer would not qualify.
· The tax credit can be claimed on 2008 income tax forms even though the purchase took place in 2009. A buyer could close on a home the same day that President Obama signs it into law, fill out their income tax forms the next day, and receive the tax credit fairly quickly.
The tax credit is not a downpayment, but it could be used toward a downpayment if first-time homebuyers plan ahead. U.S. taxpayers have money withheld from every paycheck for income taxes. If they owe more tax than the amount deducted, they pay the IRS; if they owe less, they get a tax refund.
By anticipating at least an $8,000 refund in early 2010 when they file 2009 taxes, these buyers could cut down on their tax withholding this year and save the money toward a downpayment. There is one caveat, however: Should they not buy a home in the qualifying period, they would still owe the IRS the money, and reducing their withholding amount could result in a high bill at tax time.
**CORPORATE OWNED** Huge 5 bedroom Gladstone built home, hardwood floors, volume ceilings, 42" maple kitchen cabinets, island, family room with fireplace, new carpet throughout home, master bedroom with lux bath whirlpool tub sep shower. **For owner occupied purchases buy before Jan. 31st and get up to 3.5% in closing cost credit when written in contract.
Call for your private showing right away at 630-452-1648 or email me at info@joegraham.net.
CALL FOR SHOWING APPOINTMENT NOW. Corporate owned property - fast response - 3.5% Closing Cost credit on occupant purchases for accepted offers!
Great opportunity to purchase a huge 5 bedroom home in a terrific neighborhood near I-88 and local schools.
This home features a handsome two story Living Room, Butlers Pantry between the Formal Dining Room and the large Kitchen. You will enjoy the benefits the spacious kitchen offers your family. With ample cabinet storage, a center island and eating area. The open, bright windows from the back sunroom will surely bring a smile to your face each morning.
Did we mention this home has a 5th bedroom located on the main floor that has it's own private - in-suite full bath. What a great space for a home office or guest suite - WOW!!
The master bedroom features volume ceilings, a walkin closet and a full-private in-suite bath. All secondary bedrooms are large and are terrific for a growing family.
The basement is unfinished, and features incredible storage options with balanced crawlspaces.
Really, don't miss this one when it comes on the market - it's sure to go fast!!!!
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Aurora, Naperville, Plainfield, Oswego, Batavia, North Aurora real estate from one of the area's most respected Real Estate Professionals. *Single family homes, townhouses, condos & foreclosures
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