Tax Tips for Homeowners in Southern Maryland!

Before tax season hits, think about brushing up on your property tax know-how to save money and ease stress. Whether you’re buying, staying or selling, in this tough housing market, the more you know the better. Here are 5 top tax tips!

1. Understand your capital gains tax.
So many homeowners don’t understand how their capital gains tax is calculated when selling. When you sell your home, you're taxed on any profit over a set amount, which changes based on your marital status. However, calculating your gains isn't as simple as price sold minus price paid. The IRS takes into account expenses invested in improving the property, so be sure to save receipts for any repairs, maintenance and upgrades.

2. Get a reliable estimate of your property tax bill.
This is a top tip for those looking to buy a new home in Southern Maryland. Don’t rely solely on the tax information in the property listing. Your tax bill can differ from the previous owner's bill, so do your research.

3. Deduct the interest.
On your tax return, you can deduct the interest you pay on your home loan. This deduction reduces your tax liability, and as your mortgage payments for the first few years are almost entirely interest, this means they are almost entirely tax deductible.

4. Lower your interest rates—deduct property taxes and points paid.
The IRS allows you to deduct your state and local property taxes from your income tax return, which can help to offset their expenses. You get a tax benefit if you paid for discount points to lower your mortgage interest rate.

5. Market value declined? Request a property tax reassessment.
You can get your taxes lowered if the value of your home has decreased. You will need to show proof of your home's current market value and recent comparable sales in your neighborhood. If you live in Southern Maryland and need a current market value of your property, please feel free to contact me. Maryland Department of Assessments & Taxation

For more information on property taxes, please contact Monique Hailer - CENTURY 21 New Millennium: Mobile: 443.532.5407 or email: moniquehailer@mris.com

To search for Real Estate in Southern Maryland Visit: Southern Maryland Waterfront & Real Estate Services!

Please Join Us for SUPER BOWL XLVI on Sunday 2012 ! CENTURY 21 will dominate the evening with 11 commercials airing during the pre-game show on NBC, leading up to the airing of the game-time commercial during the 3^rd quarter. Watch Steve Dangerfield as he tries to find out about the BIG AD!

See a glimpse of what the The 30-second spot, to run in the third quarter, featuring Donald J. Trump, Deion Sanders and Apolo Ohno.

Century 21 Real Estate LLC, the franchisor of the world's largest residential real estate organization is proud to reveal our first ever Super Bowl commercial titled
"SMARTER. BOLDER. FASTER. The Spirit of the CENTURY 21 Agent".

Optimize Your Home's Best Features to Sell Faster

Let’s face it—the market is tough right now. If you’re selling your home in Southern Maryland, there are certain focal points that can give your property the selling edge it needs to draw in buyers, ensuring a faster sale—and a higher selling price. However, there is no need to build a pricey addition or completely gut your existing property. By evaluating your home’s top selling points, you can add modern touches to these features to create a new, fresh feel without doing major renovations.

Point 1: Glam up your bathroom and kitchen. Does your house have a large kitchen or multiple bathrooms? “Nice bathrooms and kitchens are attractive qualities in a house, and you can make yours look luxurious without going overboard. If you can’t afford double sinks, a whirlpool tub or a walk-in shower in your bathroom, try making subtle adjustments. Small tweaks, like a new mirror or updated lighting, can have a huge effect on the atmosphere of a room. Expand the range of your kitchen by adding a center island with barstools, updating major appliances and giving a second thought to your countertops. Slab countertops, especially granite, are really popular choices. As far as appliances go, stainless steel is the real deal.

Point 2: Opt for wood. Does your home have large, open rooms? Make them appear even larger with the right flooring. Hardwood floors are timeless, and one of the most common features requested by buyers. Consider ripping up old carpet and refinishing the wood beneath. Hardwood too expensive? There are many synthetic alternatives that are nearly as appealing as hardwood, at a fraction of the cost.

Point 3: Organization is key. Do you have a ton of open wall space? Make the most of it with built-ins. Buyers love built-in organizational systems, like entertainment credenzas or bookshelves. Built-ins are relatively easy to have installed, and can give your home a unique edge. Don’t forget about closets. Expanding the closets in bedrooms and bathrooms, or adding a walk-in pantry in the kitchen, can add additional sparkle to your home.

Point 4: Don’t forget to landscape. Do you have a large yard? Maximize this space before putting your home up for sale. Especially in the Spring season, the landscaping can have a huge effect on the length of time it stays on the market. Keep the grass neatly mowed and any gardens well tended. Adding a deck or patio is a great idea, but if your budget won’t allow it, simply place some outdoor furniture around the yard in small clusters, so buyers can imagine themselves spending time outside with family and friends.

By singling out and focusing on the top selling points of your property, you can decide what renovations should be made to make the most of what you already have.

For more information on creating top selling points for your home, please contact

Monique Hailer - Century 21 New Millennium

Mobile: 443.532.5407 or Email: moniquehailer@mris.com.

A Buyer's Market in Southern Maryland : Know Your Foreclosures

Currently, foreclosed properties are on the rise in Southern Maryland Real Estate. A complicated foreclosure market can provide ample opportunity for educated buyers, or leave room for devastating financial flops when a property is purchased without a thorough home inspection or sufficient knowledge.

“While some foreclosed homes can be a real steal, make sure to do your homework first.

When looking at foreclosed properties, buyers should be aware of three different types of foreclosures, and the risks or benefits that come with each.

Real Estate Owned (REO). These homes have been foreclosed and are now owned by the bank. They have often stood vacant for some time and typically have maintenance problems due to neglect, so buyers should be extra cautious.

“REO properties are often sold ‘as is,’ leaving the buyer some wiggle room to request a price reduction based on needed maintenance. If you have the finances, time, and energy for a fixer-upper, REO properties can be a great investment,” Hailer notes.

Short-Sales. These are pre-foreclosed properties that are typically being sold at a lower price so that the seller doesn’t have to foreclose. Designed to create an ideal situation for all involved parties, short-sales can offer great deals for the seller, buyer and bank.

“If you are looking into a short-sale property, be sure you are pre-approved for a loan. “Also, make sure to have a solid home inspection done.”

Auctions. An auctioned home is one of the riskier types of foreclosed property purchases, as he buyer often has a limited window of time to view the property, and no opportunity for a proper home inspection.

“These ‘as-is’ properties can be a great deal for the seasoned real estate investor who knows what to look for. If you’re new to the field, purchasing a foreclosed home at an auction could be devastating financially when major unseen problems arise,” warns Hailer.

For more information on purchasing foreclosed properties, please contact Monique Hailer - CENTURY 21 New Millennium 443.532.5407 or email: moniquehailer@mris.com or Vist: Southern Maryland Real Estate

RISMEDIA, July 19, 2011—CENTURY 21 New Millennium, a member of RISMedia’s Real Estate Information Network®, has launched its annual school supply drive to help students in need across the DC Metro and Southern Maryland region. The full service real estate brokerage is continuing its support of children in communities across Northern Virginia and Southern Maryland by collecting back to school supplies at each of its 13 branch offices.

According to the company, the supplies collected during the drive July 13 – August 17 will be donated to community organizations to distribute to underprivileged students in the area. Individuals and businesses who wish to contribute to the drive can drop off school supplies at one of the thirteen local CENTURY 21 New Millennium offices. For a complete list of offices, visit www.c21nm.com.

Anything from pencils to backpacks will be accepted.

New Millennium Executives Todd Hetherington, CEO and Mary Lynn Stone, President have made community service an integral part of their business. “Our agents have a longstanding commitment to their communities and the response from our friends and clients to this and other fundraising campaigns is humbling,” says Mary Lynn Stone. “We recognize the unique position we are in to help students across the region, says Todd Hetherington. “It is a great feeling to know that items collected at each of the thirteen offices go directly toward helping children in our neighborhoods get off to a great start in the new school year.”

Please tell your friends and family to help our locals school provide the tools necessary for the children to read and write!