Bob and Richelle Ward, Realtors, ABR

First time homebuyers can claim a tax credit worth $8,000 as part of the Economic Stimulus Package. The credit is effective as of January 1, 2009 and will expire December 1, 2009.

Amount of Credit:  Ten percent of the value of home or $8,000, whichever is less.  If you purchase a home for more than $80,000, you qualify for the full $8,000 tax credit.

Eligible Property:  Any owner occupied, single-family residence (including condos, co-ops and townhouses) that will be used as a principal residence.  If you have not owned a home in 3 years or more, you should qualify for this credit.

Refundable:  No "repayment" required, unless home is sold within the first three years.

Definition of First Time Homebuyer:  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.

Income Limit:  Full credit is available for individuals with modified adjusted gross income of no more than $75,000 ($150,000 on a joint return). Partial credit is available up to $95,000 for individuals ($170,000 on a joint return).

Termination:  December 1, 2009

If you have any questions, please feel free to email us.

Bob & Richelle Ward, Realtors, ABR
Prudential Connecticut Realty
www.connecticuthomesforsale.com
Cell - (203) 470-9818

Back in September 2008, we posted a blog titled "Short Sale - What is It?". We think this is useful information as we frequently explain what a short sale is to both buyers and sellers. Our intention is to update you from time to time about the number of short sales actively listed for sale in Newtown, CT.

There is a special code on our multiple listing service (MLS) that indicates a possible short sale. We did a search using this code and came up with five (5) houses that are identified as a possible short sale. They range in price from $355,000 to $1,355,000. One of these homes were on our original short sale list back in September. Please note that of the actively listed short sales:

• 1 has been reduced
• 4 are new to the list

Of the homes that are no longer on the list:

• 1 sold in December 2008
• 1 sold in February 2009
• 1 expired in December 2008
• 1 expired in February 2009
• 1 was withdrawn from the market in February 2009
• 2 are pending sale as of March 2009

If you would like us to send you a list of possible short sale properties, please Email us!

Bob & Richelle Ward, Realtors, ABR
Prudential Connecticut Realty
www.connecticuthomesforsale.com
Cell - (203) 470-9818

Spring has arrived to Newtown, CT! Last night, we were looking out our kitchen window at our backyard (we have blogged about our backyard before). The animal activity was in high gear!

We first noticed all the young deer in our backyard. They were grazing on the leftover winter grass and frolicking with one another. The deer were hopping about and chasing one another with their white tails up. The deer were not the only animals out and about.

In the open space beyond our property were a large number of BIG birds. We couldn't identify them until we brought the binoculars out. Weren't we surprised to see wild turkeys! The males had their plummage in full display trying to attract the females while chasing the competition away. There were even a deer or two mixed in amongst the turkeys.

It's nice to see that Spring has arrived to Newtown, CT and that our backyard is coming alive again!

Bob & Richelle Ward, Realtors, ABR
Prudential Connecticut Realty
www.connecticuthomesforsale.com
Cell - (203) 470-9818

Home values are important whether you are planning to buy a home or sell a home. They are a major topic of conversation and are on the minds of many people. Each day the news media tell us about large double digit declines in real estate values. Basically, the media is telling us that "the sky is falling". Being local Realtors, we thought we should put the rise and fall of Newtown real estate values into perspective.

Real estate is really a "local thing" - values can differ greatly from one town to another. We have made a comparison of the median sales price in Newtown, CT from 2003 to 2008 to see what has happened to real estate values in Newtown.

The table below shows the end of year number of sales, the median sales price and also the percentage of change (+ or -) of the median sales price.

In reviewing the table below, you can see that the median sales price has declined to 2004/2003 values. Real estate values in Newtown peaked in 2006. Between 2003 and 2006, values rose a total of 18.88% and in 2007 and 2008, values declined a total of 15.11%.

Did you notice that in 2008 the number of sales was less than half of the units sold in 2005?

We hope that you find this to be informative information. Please email us if you would like this same information for other towns in the area.

Bob & Richelle Ward, Realtors, ABR
Prudential Connecticut Realty
www.connecticuthomesforsale.com
Cell - (203) 470-9818

Newtown, CT Public Schools will begin registering children for kindergarten during the month of April 2009. If your child will turn five years old by December 31, 2009, he or she is eligible to register for school. Pre-registration will begin in April 2009. If your child is eligible for kindergarten in September, you should contact the elementary school where he or she would attend. If you don't know which school, you can contact the School District at 426-7620 or look online @ www.newtown.k12.ct.us.

Bob & Richelle Ward, Realtors, ABR
Prudential Connecticut Realty
www.connecticuthomesforsale.com
Cell - (203) 470-9818