Glenn Stakem's blog

Home Buyer's Tax Credit Info........

How to Get the Extended Home Buyer Tax Credit

You’ve decided to purchase a home and take advantage of the Extended Home Buyer Tax Credit. Here's what you have to do to get your benefit:

1. Close on your home purchase between November 7, 2009 and April 30, 2010, or have a binding written contract in place by April 30, 2010 with a closing date no later than June 30, 2010.
   
2.  Decide whether to: 
   • apply the credit to your 2009 tax return, filed on or before April 15, 2010;
   •  file an amended 2009 return; or, 
   • apply the credit on your 2010 return, filed on or before April 15, 2011.
3. Attach documentation of purchase to your return.

Documentation of Purchase

Details concerning the precise documents required to confirm your purchase have not yet been released. When this information becomes available, we will include instructions and links to the appropriate forms.

When to Apply the Credit

Buyers purchasing homes on or before December 31, 2009 may claim the credit on their 2009 tax returns.

Buyers purchasing in 2010 will have the option to:

•  Claim the credit on their 2009 return, even if the purchase is completed after December 31, 2009;
•  File an amended return for 2009 if their purchase is completed after April 15, 2010; or,
•  Claim the credit on their 2010 tax returns.

If you, or your client, purchased a home between January 1, 2009 and November 6, 2009, please see: How to Get the 2009 First-Time Home Buyer Tax Credit.

Applying the Credit to Your 2009 Taxes

You will need to do three things to claim the credit on your 2009 tax return:

1. Fill out Form 5405 to determine the amount of your available credit;
2. Apply the credit when you file your 2009 tax return or file an amended return;
3. Attach documentation of purchase to your return or amended return.

Applying the Home Buyer Tax Credit to Your 2009 Tax Return

Bridge Loans: Using the Home Buyer Tax Credit Up-Front

*All of this was taken from Realtor.org

See link for more great information on this from Realtor.org

http://www.realtor.org/home_buyers_and_sellers/extended_home_buyer_tax_credit_how_to

For other useful info check out www.glennstakem.com

The Ridges At Belmont Country Club

 

The Ridges

Tucked away in Ashburn, VA is a wonderful section of Belmont Country Club known as The Ridges of Belmont Country Club.  This neighborhood is located just outside the main gates of Belmont.  The Ridges are luxury town home style condos.  There are several different models which Toll Brothers had designed.  Most of the units are all 3 levels with a garage.  They are all 2 bedrooms with 2 full baths and most have a 1/2 bath.  When constructed they were all built with many upgrades which include granite counter tops, 42 inch cabinets, upgraded carpet, and ceramic tiles in the bathrooms.  I  could just keep going on and on with all the upgrades, but I think you are getting my point.  There are several different models to choose from.  Each model has it own unique style.

 
One of the great features of this neighborhood is the easy access to the WO&D trail.  You can be on  the trail in seconds.  You could take a quick jog and be in Leesburg in no time.  There are also baseball fields, batting cages, and in-line hockey rink all with in a 2 minute  walk.   If you like Barbe-que you are a hop skip and a jump away from one of Ashburn's greatest best kept secrets called Carolina Brothers BBQ.   All you have to do is head south on the WO&D trail and you can walk there in 5 minutes.

For more information on these great condo's or any other information about Ashburn, you can follow me on Facebook at GO WITH GLENN, or go to my website  www.glennstakem.com

 

Springing into Ashburn Real Estate

Spring has sprung, time has changed and interest rates are still at an all time low. If your thinking of buying a home, now is the time to get off that fence and into that home of your dreams.

If your interested in seeing a list of properties that are available in your neighborhood, check out www.glennstakem.com

Enjoy your Sunday fun day!!!

Happy Holiday's to everyone, and have a very Happy New!

Speaking of New Years, 2009 has come and gone. Where did the year go? It's seems like so much has occured this year to make the time fly by like pages on a daily calander. In early 2009 the sales prices of homes in Loudoun County were steadily decreasing due to the Foreclosures and Short Sales. Then as the winter turned into summer we began to hit the bottom. Sales prices held steady and in some places we saw a slight increase. With the changing of the market First Time Home Buyers took advantage of the Tax Credits and the great FHA loan programs. With 2010 knocking at the front door and the Housing Tax Credit coming to an end verys soon, I am looking forward to see what the 2010 real estate market will bring.

I am anticipating a busy 1st quarter and a Short Sales to rule the up and coming year. If you are looking to purchase a short sale, make sure you use a Certified Distress Property Expert or CDPE for short. If you are thinking of selling your home and want to explore your options, I'd be happy to guide you in the right direction.

Merry Christmas and Happy Holiday's to all!! See you in the New Year!

You can check out my new website at www.glennstakem.com

Glenn Stakem

Sterling Park - Sterling VA

Sterling, VA Real Estate – Sterling Park Subdivision

 

If you are in the market to purchase a home in the Sterling Park subdivision of Loudoun County Virginia, be prepared to encounter a foreclosure or a short sale.  You will get a great value on a single family home.  The prices that you can expect are ranging from $200,000-300,000.  I will say this; the home prices have seen an increase as investors are coming in purchasing these distressed properties to rehab them.  If you’re a first time home buyer there are loan programs out there that will help you purchase these distressed properties. One of these loan programs is the FHA 203K loan.  If you have been on the fence about buying because you think that the market is still going to come down more, I ask you this one question.  What is your motive for buying a home?  If you are looking for a great deal and a good home to live in for the next couple of years then you should move quickly on purchasing your new home. 

 

I do not think the home price will go up too much more in this subdivision, but I do not see them getting lower either.  If you get into a home now, you can take advantage of the all time low interest rates, and the Federal Tax Credit for home buyers.   If you wait till after the Tax Credit is gone you could miss out on that credit.  The dead line to qualify for the Tax Credit is April 30, 2010.  Then if you also wait to long, the interest rates could go higher and that would off set any difference in a lesser sales price.

 

If you are looking to purchase a foreclosure or a short sale I would strongly look at what Realtor you use.  Make certain that they have a Certified Distress Property Expert designation or CDPE for short.  This really does make a difference when you work with an experienced agent.

 

 

It’s a good life,

 

Glenn Stakem

Certified Distressed Property Expert

RE/MAX Select Properties

703-727-9207

 

 

Stratford Club Leesburg, VA

View this photo 
 
Stratford Club – Leesburg, VA

    The Stratford Club is a luxury Toll Brother’s Condominium complex that stands above and beyond all other condos in the Leesburg area.  Toll Brother’s is offering 1, 2, and 3 bedroom condos for sale.  If you are looking at buying a condo in Leesburg, this should be your first stop.  You get to pick your style appliances, cabinets, granite and flooring.  The Stratford Club is great for the first time home buyer, working professional and young couple. 

There is a club house for everyone to utilize.  Some of the amenities of the club house are a gym, lounge area with couches, TV’s, internet café, pool table and a room with massaging chairs.  The gym has treadmills, ellipticals, free weights, and other various workout equipment.  The pool table is situated in a room with a number of TV’s to watch as you relax with your family and friends.  In the summer time you can relax by the pool side or in the hot tub on those lovely summer nights.  Now that’s living!

Toll Brother’s has truly done a great job with this community.  The location is perfect as well!  You are seconds from the toll road, route 7, and yes, the brand new Wegman’s!  Now who doesn’t love living near a Wegman’s. 

If you are in the market to purchase a condo there is no fee for using my professional negotiating skills.  As a Buyer’s agent, I represent your best interest.   I have sold numerous Toll Brother Homes, so my experience can provide you with a successful and smooth home buying process. 

It’s a good Life,

Glenn Stakem

Re/max Select Properties

703-547-1509