I am sure that most of you have been monitoring the status of the "Homebuyer Tax Credit" in Maryland, but if you haven't, this is what we know:
Homebuyer Tax Credit for Maryland Home Buyers has not only been extended, but it has also been expanded to include current homeowners in Baltimore City. The following are features of the new bill:
• Deadline for current credit is November 30, 2009.
• Deadline for new and improved credit is April 30, 2010, as long as the home in Maryland, Baltimore, Harford County and surrounding counties are under contract by that date; deal must close within 60 days.
• Eligibility and amount of new credit: - $8,000 for first-time homebuyers in Maryland (those who have not owned a home in Maryland in the last three years). - Up to $6,500 credit for homeowners who have lived in the home they are selling, or have sold, as a principal residence for five consecutive years in the past eight.
• Buyers in Maryland with income exceeding $125,000 for single and $225,000 for married couples are not eligible.
• Homes in Maryland valued at more than $800,000 are also ineligible.
This is exciting news for first time and current homeowners that are looking to purchase a property in Baltimore, Harford County and Surrounding Counties in Maryland.
You can become a VIP Buyer and Beat Other Buyers to Hot New Listings in Maryland, Baltimore, Harford County, Cecil County Homes. How To Receive Daily Emails or Printouts of ALL New Listings That Match Your Home Buying Criteria Sent to You FREE of Charge Without Obligation
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Our exclusive Buyer Profile System allows you to pick which homes in Baltimore City you want to view before other buyers even know about them. As a VIP buyer in Baltimore City:
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Thursday, November 5, 2009
NEWS! Home Buyer Tax Credit Extended - Home Buyers in Baltimore, Harford, Cecil County - Top Realtor in Maryland
Monday, November 2, 2009
HOME SEARCH NOW! Find your home in Maryland, Harford, Baltimore County and City, Realtors and Agents selling Homes
If you are considering relocating or moving to Maryland, there is one Real Estate TEAM to choose when you start your search for your dream home. Our extensive knowledge in the Maryland Real Estate Market will benefit you when purchasing your home. We have provided helpful links for you. From this page, you can also start searching for properties that are available. Let us start working for you TODAY! It starts with a simply searching for a home, filling out the email inquiry form and its that simple! One of our Team Members will contact you immediately to begin to work within your schedule to view the homes of your choice in Maryland, Baltimore County, Harford County, Cecil County Relocations
Friday, September 18, 2009
Ten Facts about the $8,000 First-Time Homebuyer Tax Credit
Ten Facts about the First-Time Homebuyer Credit
Many taxpayers who purchase a home in Maryland this year will qualify for an $8,000 federal tax credit. The refundable first-time homebuyer credit is a major tax provision in the American Recovery and Reinvestment Act of 2009. But time is running out to qualify for this credit.
Here are ten things the IRS wants you to know about the first-time homebuyer credit:
1. To be considered a first-time homebuyer, you – and your spouse if you are married – must not have jointly or separately owned another principal residence during the three years prior to the date of purchase.
2. You cannot claim the credit before there is a completed sale and purchase of the residence. The sale and purchase are generally completed at the time of closing on the purchase.
3. To qualify for the credit, the completed purchase must occur before December 1, 2009.
4. The home must be located in the United States.
5. The credit is either 10 percent of the purchase price of the home or $8,000, whichever is less.
6. The amount of the credit begins to phase out for taxpayers whose modified adjusted gross income is more than $75,000 or $150,000 for joint filers.
7. The credit is fully refundable. A homebuyer with no taxable income, who qualifies for the credit, may file for the sole purpose of claiming the credit and receive a refund. The credit will be paid out to eligible taxpayers, even if they owe no tax or the credit is more than the tax owed.
8. The credit is claimed on IRS Form 5405, First-Time Homebuyers Credit.
9. Taxpayers can claim the credit for a qualified 2009 purchase on either their 2008 or 2009 tax return. For those who have filed a 2008 return, a Form 1040X, Amended U.S. Individual Income Tax Return can be filed in order to get a refund in 2009.
10. The credit for qualified 2009 purchases does not have to be repaid, as long as the home remains your main home for 36 months after the purchase date.
Qualified taxpayers who have been considering a main home purchase may find extra incentive from this tax credit to buy now so they can complete the purchase before the December 1 deadline.
For more information on this and other key tax provisions of the Recovery Act visit the official IRS Website at IRS.gov/Recovery.
Links:
First-Time Homebuyer Credit
YouTube Video - First-Time Homebuyer: English Spanish ASL
Audio File for Podcast - First-Time Homebuyer Credit 2009: English Spanish
The American Recovery and Reinvestment Act of 2009: Information Center
Form 5405, First-Time Homebuyer Credit (PDF)
Form 1040X, Amended U.S. Individual Income Tax Return (PDF)
Many taxpayers who purchase a home in Maryland this year will qualify for an $8,000 federal tax credit. The refundable first-time homebuyer credit is a major tax provision in the American Recovery and Reinvestment Act of 2009. But time is running out to qualify for this credit.
Here are ten things the IRS wants you to know about the first-time homebuyer credit:
1. To be considered a first-time homebuyer, you – and your spouse if you are married – must not have jointly or separately owned another principal residence during the three years prior to the date of purchase.
2. You cannot claim the credit before there is a completed sale and purchase of the residence. The sale and purchase are generally completed at the time of closing on the purchase.
3. To qualify for the credit, the completed purchase must occur before December 1, 2009.
4. The home must be located in the United States.
5. The credit is either 10 percent of the purchase price of the home or $8,000, whichever is less.
6. The amount of the credit begins to phase out for taxpayers whose modified adjusted gross income is more than $75,000 or $150,000 for joint filers.
7. The credit is fully refundable. A homebuyer with no taxable income, who qualifies for the credit, may file for the sole purpose of claiming the credit and receive a refund. The credit will be paid out to eligible taxpayers, even if they owe no tax or the credit is more than the tax owed.
8. The credit is claimed on IRS Form 5405, First-Time Homebuyers Credit.
9. Taxpayers can claim the credit for a qualified 2009 purchase on either their 2008 or 2009 tax return. For those who have filed a 2008 return, a Form 1040X, Amended U.S. Individual Income Tax Return can be filed in order to get a refund in 2009.
10. The credit for qualified 2009 purchases does not have to be repaid, as long as the home remains your main home for 36 months after the purchase date.
Qualified taxpayers who have been considering a main home purchase may find extra incentive from this tax credit to buy now so they can complete the purchase before the December 1 deadline.
For more information on this and other key tax provisions of the Recovery Act visit the official IRS Website at IRS.gov/Recovery.
Links:
First-Time Homebuyer Credit
YouTube Video - First-Time Homebuyer: English Spanish ASL
Audio File for Podcast - First-Time Homebuyer Credit 2009: English Spanish
The American Recovery and Reinvestment Act of 2009: Information Center
Form 5405, First-Time Homebuyer Credit (PDF)
Form 1040X, Amended U.S. Individual Income Tax Return (PDF)
Sunday, August 9, 2009
2009-2010 School Bus Route Schedule Harford County Maryland
2009-10 SCHOOL BUS SCHEDULES AND ROUTES
Since routes are based on estimated fall enrollments, school officials remind parents and students to expect minor adjustments in bus loads and schedules during the first week of school in order to alleviate any overcrowded buses.
Students attending Harford Technical High School, Daytime Alternative Education, Science/Math Academy at Aberdeen High School, and International Baccalaureate at Edgewood High School will be contacted by postcard with their bus information. Science/Math Academy at Aberdeen High School students living in the Aberdeen High attendance area will ride the Aberdeen High School bus that provides service to their neighborhood (Please see Aberdeen High School bus routes). International Baccalaureate at Edgewood High School students living in the Edgewood High attendance area will ride the Edgewood High School bus that provides service to their neighborhood (Please see Edgewood High School bus routes). John Archer School and any elementary pre-school programs will be contacted by their bus driver, as will all other students riding a special needs bus, both in county and out-of-county.
Bus routes are planned so that a maximum number of children are picked up and discharged at the nearest stop to their home. Generally, bus stops are located at least one-fourth mile apart. The bus drivers will inform the children of the designated stops during the first few days of school.
The a.m. time for each bus is the estimated time of the first stop the bus will make on its morning run. This time may vary several minutes during the first few days of school until each driver is able to establish a definitive schedule. Students should plan to be at the bus stop at least five (5) minutes before the scheduled pick up time. Students attending Magnet Programs (Harford Technical High School, Daytime Alternative Education, Science/Math Academy at Aberdeen High School, International Baccalaureate at Edgewood High School) should plan to be at the bus stop at least ten (10) minutes before the scheduled pick up time. Children who plan to use bus transportation are encouraged to ride the bus beginning the first day of school to facilitate the establishment of the time schedule and the bus load.
The p.m. return time to home for each bus may be longer at the beginning of the school year to accommodate students adjusting to new school settings. Once the schedule has been established, there will be a normal drop off time for each student.
The pupil transportation rules will be distributed to each pupil on the first day of school and discussed in class. Parents are urged to review the rules with their children which can be found at the Harford County Public School Website as well as the School Calendar/Handbook.
Since routes are based on estimated fall enrollments, school officials remind parents and students to expect minor adjustments in bus loads and schedules during the first week of school in order to alleviate any overcrowded buses.
Students attending Harford Technical High School, Daytime Alternative Education, Science/Math Academy at Aberdeen High School, and International Baccalaureate at Edgewood High School will be contacted by postcard with their bus information. Science/Math Academy at Aberdeen High School students living in the Aberdeen High attendance area will ride the Aberdeen High School bus that provides service to their neighborhood (Please see Aberdeen High School bus routes). International Baccalaureate at Edgewood High School students living in the Edgewood High attendance area will ride the Edgewood High School bus that provides service to their neighborhood (Please see Edgewood High School bus routes). John Archer School and any elementary pre-school programs will be contacted by their bus driver, as will all other students riding a special needs bus, both in county and out-of-county.
Bus routes are planned so that a maximum number of children are picked up and discharged at the nearest stop to their home. Generally, bus stops are located at least one-fourth mile apart. The bus drivers will inform the children of the designated stops during the first few days of school.
The a.m. time for each bus is the estimated time of the first stop the bus will make on its morning run. This time may vary several minutes during the first few days of school until each driver is able to establish a definitive schedule. Students should plan to be at the bus stop at least five (5) minutes before the scheduled pick up time. Students attending Magnet Programs (Harford Technical High School, Daytime Alternative Education, Science/Math Academy at Aberdeen High School, International Baccalaureate at Edgewood High School) should plan to be at the bus stop at least ten (10) minutes before the scheduled pick up time. Children who plan to use bus transportation are encouraged to ride the bus beginning the first day of school to facilitate the establishment of the time schedule and the bus load.
The p.m. return time to home for each bus may be longer at the beginning of the school year to accommodate students adjusting to new school settings. Once the schedule has been established, there will be a normal drop off time for each student.
The pupil transportation rules will be distributed to each pupil on the first day of school and discussed in class. Parents are urged to review the rules with their children which can be found at the Harford County Public School Website as well as the School Calendar/Handbook.
Friday, August 7, 2009
Baltimore Maryland Trends in Housing Report, 2009
The Baltimore market showed signs of renewal in the 2nd quarter of 2009. Prices showed slight growth from the previous quarter, and homes spent less time on market than in the 1st quarter. However, the Baltimore market is still weaker than a year ago; Baltimore’s housing market may be in the very early phases of a recovery. Baltimore City showed the most improvement: prices rose 5.4% in the 2nd quarter of 2009 from the previous quarter. However, Baltimore City showed the steepest yearly declines; prices in the 2nd quarter were 20.0%
lower than a year ago. The city’s low average sales price of $160,891 contributes to volatility in percentage changes. In the Northern suburbs, prices rose 3.0% from the previous quarter but were down 8.4% from one year ago. The average sales price in the Northern suburbs for the 2nd quarter is $276,067.
The Southern suburbs posted the region’s only price decline in the 2nd quarter. Prices were down 2.0% from the 1st quarter of 2009; they were down 12.2% from one year ago. The average sales price in the Southern suburbs
in the 2nd quarter is $366,873. As a whole, Baltimore metro prices were up 1.6% from 1st quarter 2009 but down 11.3% from one year earlier. The ratio of inventory to sales declined 4.0 months to 7.9 months at June 2009, indicating that buyer interest is helping work through excess inventory. Annualized, unit
sales volume through the 1st half of 2009 is 88.9% of the 2008 total volume.
lower than a year ago. The city’s low average sales price of $160,891 contributes to volatility in percentage changes. In the Northern suburbs, prices rose 3.0% from the previous quarter but were down 8.4% from one year ago. The average sales price in the Northern suburbs for the 2nd quarter is $276,067.
The Southern suburbs posted the region’s only price decline in the 2nd quarter. Prices were down 2.0% from the 1st quarter of 2009; they were down 12.2% from one year ago. The average sales price in the Southern suburbs
in the 2nd quarter is $366,873. As a whole, Baltimore metro prices were up 1.6% from 1st quarter 2009 but down 11.3% from one year earlier. The ratio of inventory to sales declined 4.0 months to 7.9 months at June 2009, indicating that buyer interest is helping work through excess inventory. Annualized, unit
sales volume through the 1st half of 2009 is 88.9% of the 2008 total volume.
Information Provided by: MRIS Trends in Housing Report,
Sources: Associated Press, Boston.com, Bureau of Labor Statistics, Census Bureau, CNNMoney.com, Commerce Department, CoStar, Delta Associates, Department of Housing and Urban Development, Dr. Stephen Fuller and John McClain at GMU’s Center for Regional Analysis, Federal Housing Finance Agency, Federal Reserve, Freddie Mac, Home Builders of Maryland, Mortgage Bankers Association, MRIS, NAHB, NAR, New Geography, The New York Times, Primary Mortgage Market Survey®, RealtyTrac, Reuters, Shopping Center Directory, Treasury Department, USA Today, The Wall Street Journal, Washington Business Journal, The Washington Post, WBAL-TV.
Sources: Associated Press, Boston.com, Bureau of Labor Statistics, Census Bureau, CNNMoney.com, Commerce Department, CoStar, Delta Associates, Department of Housing and Urban Development, Dr. Stephen Fuller and John McClain at GMU’s Center for Regional Analysis, Federal Housing Finance Agency, Federal Reserve, Freddie Mac, Home Builders of Maryland, Mortgage Bankers Association, MRIS, NAHB, NAR, New Geography, The New York Times, Primary Mortgage Market Survey®, RealtyTrac, Reuters, Shopping Center Directory, Treasury Department, USA Today, The Wall Street Journal, Washington Business Journal, The Washington Post, WBAL-TV.
Thursday, April 2, 2009
SELLING YOUR TOWNHOUSE in HARFORD COUNTY, Sales History in 2009
Townhomes or otherwise call Townhouses in Harford County have had a recent surge of strong sales. The reason is that they appeal mostly to the first time home buyer. With the recent $8,000 tax credit in place, this has become a significant difference in deciding whether its the right time to buy a home. Search for ALL Townhomes in Harford County from ALL Real Estate Brokers.As of today, there are currently 388 Towhouses for sale in the Harford County Maryland area. The lowest priced townhome is $50,000, the highest listed at $686,000 with the average listing price of $239,039. The average days on the market is 113. Buyers looking to purchase a townhome will find it very easy when submitting your information through our VIP Buyer Program. If you are looking for a Real Estate Agent to show you one of these townhouses, we are one phone call away.
Within the past 60 days 87 Townhomes have SOLD in the Harford County Area. The lowest price was $49,900 with the highest price at $599,995. The average sales price for a townhouse was $212,550 with an average seller subsidy of $4,216.00. The average days on the market was 82. This information is crucial if you are looking to Sell your Townhome in Harford County Maryland. Regardless if you have your property in Bel Air, Forest Hill, Churchville or Edgewood, our team of agents are here to service you.
Some of the areas you can start looking for townhouses are Monmouth Meadows, Greenbrier Hills, Amyclae Estates, Rosefields, Irwins Choice, Greenway Farm, Box Hill South and others.
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