Connecticut Real Estate News & Community Info

2 Bed / 2 Bath 55+ Condo: 15 Commonway Drive Brooklyn, CT 06234

Kathleen Chase, Realtor (RE/Max Professional Associates) — Mon, 12 Mar 2012 01:23:06 -0700

BROOKLYN COMMONS: 55+ ADULT LIVING

Unit #15 Commonway Drive Brooklyn, CT 06234

$195,000

2 Bed / 2 Bath 55+ Condo Now Available!

Features:

Tile & Pergo Flooring, Granite Counter Tops, Fully Applianced with Double Oven, Refrigerator, Dishwasher, Garbage Disposal, Washer & Dryer, Central Air, Full Basement, Double Garage, Private Deck...

RE/MAX Professional Associates

Kathleen Chase, Realtor 860-942-9212

This Blog Is Brought To You By:

Kathleen Chase, Realtor

RE/MAX Professional Associates
860-942-9212

www.CTHomeLocator.com
kathychase@jckcrealty.com

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A SHORT SALE SUCCESS!

Kathleen Chase, Realtor (RE/Max Professional Associates) — Fri, 29 Jul 2011 12:53:51 -0700

A SHORT SALE SUCCESS!

Just Sold in Putnam, CT 3 Bed/1.5 Bath 06260

Congratulations to the proud new owners of:

946 Pomfret Street

Putnam, CT 06260

List Price: $129,900

Sales Price: $129,900

3 Beds/ 1.5 Baths

Acres: 1.02

Sq. Ft.: 1164

I couldn't be more happy for my client's!

They had to endure so many delays in obtaining this "short sale"!

I'm sure they would agree that the work and wait were all worth it!

They now have a beautiful yard for their children to play in,

space for Dad's "man cave" with the fire-placed, walk-out basement and

a kitchen Mom can enjoy!

All this for only $16.00 a month more than what they have been paying to "rent"!

That's right, for only $16. more per month including P, I, PMI, Taxes & Insurance they now "own"!

By far the most rewarding closing I have ever had!

This couple gave it all they had to gain their piece of the "American Dream" and earned every bit of it.

They have the right to be so proud!

RE/MAX Professional Associates

Kathleen Chase, Realtor 860-942-9212

This Blog Is Brought To You By:

Kathleen Chase, Realtor

RE/MAX Professional Associates
860-942-9212

www.CTHomeLocator.com
kathychase@jckcrealty.com

View My WebSite!

Just Sold in Danielson - 3 bedroom home sold to our happy buyers - 06239

Kathleen Chase, Realtor (RE/Max Professional Associates) — Wed, 20 Jul 2011 20:29:15 -0700

Just Sold in Danielson, CT 3 Bed/2 Bath 06239

Congratulations to the proud new owners of:

870 North Main Street

Danielson, CT 06239

List Price: $149,900

Sales Price: $145,000

3 Beds/ 2 Baths

1664 Sq. Ft.

RE/MAX Professional Associates

Kathleen Chase, Realtor 860-942-9212

This Blog Is Brought To You By:

Kathleen Chase, Realtor

RE/MAX Professional Associates
860-942-9212

www.CTHomeLocator.com
kathychase@jckcrealty.com

View My WebSite!

4 Bedroom Home for Sale in Webster, MA!

Kathleen Chase, Realtor (RE/Max Professional Associates) — Wed, 29 Jun 2011 11:14:12 -0700

4 Bedroom Home for Sale in Webster, MA!

89 Union Point

Offered at $233,900!

Enjoy year round views of stunning Webster Lake from your dock. Recreational opportunities abound every season of the year!

Sellers will replace the roof within the next month.Over sized ranch w/ 4 bedrooms, 2 FULL baths or 3 bedrooms and an office!

Enjoy the 3 season screen porch with lake view/breezes and walk to beach access!

Deeded water access including dock across the street from property.

Great for Jet Ski, Fishing Boat or Canoe. Ideal commuter location only seconds from the on ramp to route 395!

Give me a call, I'll be happy to show you around!

Kathleen Chase, Realtor Licensed in MA & CT

860-942-9212

Offered By:

Prudential Prime Properties

RE/MAX Professional Associates

Kathleen Chase, Realtor 860-942-9212

This Blog Is Brought To You By:

Kathleen Chase, Realtor

RE/MAX Professional Associates
860-942-9212

www.CTHomeLocator.com
kathychase@jckcrealty.com

View My WebSite!

It's Poll Time! Do You Go To the Office Every Day... Or Do You Prefer to Work From Home?

Kathleen Chase, Realtor (RE/Max Professional Associates) — Thu, 16 Jun 2011 09:10:32 -0700

Craig Rutman Raleigh/ Cary/ Apex area Realtor cracks me up and I love his style!

Great post! I love working from home and definitely feel I get so much more work done and am able to still have a life in the midst of it all. Being a great Realtor can be very demanding and having a home office makes it seem so easy to deliver what clients need at any given time!

Via Craig Rutman Raleigh/ Cary/ Apex area Realtor (Home Buyer and Seller Specialist):

It's Poll Time!

Do You Go To the Office Every Day...

Or Do You Prefer to Work From Home?

For me, one of the most wonderful things about being a Realtor here in the Raleigh/ Cary/ Apex area of North Carolina is the flexibility of the schedule.

Personally, I prefer to work from home. I like to get up early, grab a cup of coffee, and fire up the computer long before most 9 to 5'ers even hit the office.

By the time 9:00AM hits, I've banged out more work in my pajamas than some folks do in an entire day.

How about you? Do you go to the office every day, or do you prefer to work from home?

Take the poll now. I'll post the results in a few days.

About The Author
Craig Rutman is a North Carolina Residential Real Estate Specialist that can assist you with the purchase and/or sale of real estate in the Raleigh - Cary – Apex metro areas; or any place else in the country by connecting you with a relocation professional in your destination of choice.

To find all available homes for sale in the Triangle area of North Carolina, please visit www.justnchomes.com

Call me TODAY at 919-349-9530
Email me with your Raleigh - Cary – Apex area questions

Craig Rutman

RE/MAX Professional Associates

Kathleen Chase, Realtor 860-942-9212

This Blog Is Brought To You By:

Kathleen Chase, Realtor

RE/MAX Professional Associates
860-942-9212

www.CTHomeLocator.com
kathychase@jckcrealty.com

View My WebSite!

Increase Your Homes Equity for "Free"!

Kathleen Chase, Realtor (RE/Max Professional Associates) — Mon, 13 Jun 2011 17:39:20 -0700

Increase Your Homes Equity for "FREE"!

Okay, Maybe free isn't the best way to describe what I propose but it shouldn't cost you a dime, just some good old fashioned labor!

What? You don't have one! If you own a piece of land then you have a garden!

You may not see it that way but I do! something lives there, grass, weeds, bugs...

If they can survive then you have a garden and if you nurture it, it will increase the equity in your home!

I used to spend all day in my yard but could never afford to go out and buy plants. After one year of showing my interest in gardening, the neighbors started sharing plants with me and from there it grew. I realized the more I talked about it the more I was offered a vast variety of wonderful plants all for FREE! I am in my 15th house and I know that my gardening efforts increased my homes equity, my sales price and shortened my days on market too!

I stopped gardening about 11 years ago due to my life's circumstances but am back on track this year and oh how I love it and have missed it!

The only problem I have is that I don't have a close relationship with my current neighbors so I'm asking for your help!

If you have gardens that need dividing this year I'll be happy to lend a hand for "FREE" if you will share the wealth of your plantings with me! In the coming years I will be able to return the favor!

I've taken stock of what was already growing in my yard that I have ignored for the past 8 years. I found I had more than I thought once I started pulling the weeds and transplanting things. I have 2 Peony's that have refused to blossom this year so I have to figure them out,( any suggestions?) but for now, they are nice little bushes. I have Lambs Ear that just grows wild and has blossomed beautifully this year. My Dad gave me a bunch of hosta last year and they seem to like their new home. I should be able to split some of them up next year which will allow me to share them!

So get out and enjoy the spring and summer season and increase your homes equity in the process!

RE/MAX Professional Associates

Kathleen Chase, Realtor 860-942-9212

This Blog Is Brought To You By:

Kathleen Chase, Realtor

RE/MAX Professional Associates
860-942-9212

www.CTHomeLocator.com
kathychase@jckcrealty.com

View My WebSite!

Home for Sale in Sterling, CT 06377

Kathleen Chase, Realtor (RE/Max Professional Associates) — Mon, 23 May 2011 15:14:59 -0700

Home for Sale in Sterling, CT 06377

Offered by Kathleen Chase of RE/MAX Professional Associates! This 4 Bedroom, 2 Bath Ranch/Cape Style Home on 10.97 Acres is Offered at $459,900~3,300 sqft of living space, 4 garage spaces in Sterling, CT!

Lovely young ranch in a country setting minutes to Route 6 & 395! This 4 bedroom, 2 bath home features fabulous woodwork throughout, large master wing w/adjacent office space and his & her closets with a master bath, sky-lit living room, dining room w/french doors overlooking deck & gardens, beautiful kitchen w/ large island & stainless steel appliances. "Two" 2 car attached garages, peaceful farmer's porch & 1st floor laundry, fruit trees and blueberry orchard make this home a dream!

RE/MAX Professional Associates

Kathleen Chase, Realtor 860-942-9212

This Blog Is Brought To You By:

Kathleen Chase, Realtor

RE/MAX Professional Associates
860-942-9212

www.CTHomeLocator.com
kathychase@jckcrealty.com

View My WebSite!

Regional Community YMCA Family Center

Kathleen Chase, Realtor (RE/Max Professional Associates) — Mon, 13 Jun 2011 11:36:05 -0700

Regional Community YMCA Family Center

Get the facts at the Putnam Middle School informational meetings!

They will be holding 2 meetings; please try to attend one or both and get the facts!

Dates: 6/13/11 and 6/21/11 (Tonight and next Tuesday)

Time: 7:pm to 9:pm

Address: 35 Wicker Street Putnam, CT 06260

Everyone one is welcome to attend and ask questions!

I spoke with Christine Rivers today who told me these meetings are being held to answer questions and ease fears of Putnam residents about a tax increase due to the proposal to build the new Regional Community YMCA Family Center. She explained that the 15 acres of land will be donated by Wheelabrator Putnam Inc. and that there is a state gift of 14 million to construct! No tax increase! Now that's what I like to hear!

I don't have all the facts but am very interested in having a facility bring new community spirit to Northeast, CT!

Attend the meetings, get the facts and make a well informed decision for your community by voting on June 23rd, 2011

Only Putnam Residents can vote but this vote can make life changes for all in Northeast, CT! Please encourage your family & friends in Putnam to become aware and get involved by voting!

The facility which will be under the umbrella of the YMCA of Greater Hartford hope to bring amenities such as:

An Aquatic Center with:

1) Competion Length Swimming Pool

2) Warm Water Pool w/wheelchair accessability

Health & Wellness Center

Gymnasium

Walking Trail

Child Care (for those parents needing a place for their children while they work-out in a healthy, social environment)

The Regional Community YMCA will be located at the entrance to the Technology Park in Putnam off Kennedy Drive close to 395 & Route 44

For more information please attend one or both of the meetings listed above!

RE/MAX Professional Associates

Kathleen Chase, Realtor 860-942-9212

This Blog Is Brought To You By:

Kathleen Chase, Realtor

RE/MAX Professional Associates
860-942-9212

www.CTHomeLocator.com
kathychase@jckcrealty.com

View My WebSite!

HOUSING SHORTGAGE COMING? YOU BETCHA

Kathleen Chase, Realtor (RE/Max Professional Associates) — Sun, 12 Jun 2011 10:24:57 -0700

HOUSING SHORTGAGE COMING? YOU BETCHA

Thanks Conrad for HOPE in our future Real Estate Market! History does have a way of repeating itself and we are due for a boost in sales and a rebound in price! the numbers suggest an upswing is on the horizon!

Via Webster, Ma Conrad Allen, Realtor (Re/Max Professional Asociates):

Lawrence Yun, NAR's economist, is predicting the coming housing shortage based on the "coming up short" chart. Harvard created the "State of the Nation's Housing" report that also echo's Mr. Yun's prediction. It really is just number crunching.

2000-2007, household growth averaged 1.2 million per year. 2007-2010 about 500,000 annually. According to the Harvard report 16,000,000 (16 million) new housing units will be needed within the next decade. Again, according to Harvard "the number of new households is set to rise sharply, supporting growth in population that fuels growth in new renters and first time buyers". One only needs to look back in history over the last 40 years to see the cycles of demand and supply. Zillow (I question why they are a trusted source) indicates that housing values are back to 2002 levels.

The mid 70's produced disintermediation. Prices stumbled. The early 80's with 19% interest rates and 21% inflation reduced housing values. Then President Reagan reduced all tax rates and the boom began. Four years of exploding values. Then the tax laws changed now calling real estate a passive investment. The bust followed. In the early 90's values fell 35%. A growth spurt in the late 90's. Then the new century. 2003 -2007 the boom again. Bust 2008 to ?

Population increasing. Housing not supporting growth. Housing shortage will happen again as it has in the last 40 years.

RE/MAX Professional Associates

Kathleen Chase, Realtor 860-942-9212

This Blog Is Brought To You By:

Kathleen Chase, Realtor

RE/MAX Professional Associates
860-942-9212

www.CTHomeLocator.com
kathychase@jckcrealty.com

View My WebSite!

Is it a joke or not?

Kathleen Chase, Realtor (RE/Max Professional Associates) — Thu, 09 Jun 2011 16:39:31 -0700

How to Kill Mosquitoes

I have been trying to keep these pesty critters out of my yard and it's not only difficult but also costly! I am going to try this remedy and see how it works! If you already have, I would love to hear from you!

Via Donna Bosze (Keller Williams Elite, Realtors):

How to Kill Mosquitoes
You may be aware of this, How to Kill Mosquitoes - IT'S NOT A JOKE

I was at a deck party awhile back, and the bugs were having a ball biting everyone. A man at the party sprayed the lawn and deck floor with Listerine, and the little demons disappeared. I filled a 4-ounce spray bottle and used it around my lawn chair whenever I saw mosquitoes. And voila! That worked as well.. It worked at a picnic where we sprayed the area around the food table, the children's swing area, and the standing water nearby. During the summer, I don't leave home without it.....Pass it on.

OUR FRIEND'S COMMENTS: I tried this on my deck and around all of my doors.
It works - in fact, it killed them instantly. I bought my bottle from Target and it
cost me $1.89. It really doesn't take much, and it is a big bottle, too; so it is not
as expensive to use as the can of Bug-spray you buy that doesn't last 30 minutes.
So, try this, please. It will last a couple of days. Don't spray directly on a wood
door (like your front door), but spray around the frame.. Spray around the window
frames, and even inside the dog house.
Now these are Good Mosquitoes!!!

EARTH FRIENDLY TOO???
This will also kill bugs that eat the leaves on your plants, I have tried this and it works.

RE/MAX Professional Associates

Kathleen Chase, Realtor 860-942-9212

This Blog Is Brought To You By:

Kathleen Chase, Realtor

RE/MAX Professional Associates
860-942-9212

www.CTHomeLocator.com
kathychase@jckcrealty.com

View My WebSite!

HOW ARE WE GOING TO MOVE THESE CONDOS?

Kathleen Chase, Realtor (RE/Max Professional Associates) — Fri, 20 May 2011 15:16:17 -0700

HOW ARE WE GOING TO MOVE THESE CONDOS?

Are we not the professionals?

LETS DISPEL THE FEARS OF CONDO BUYERS!

With opinions, attitude & poor advice we the REALTOR, who has first contact with buyer's for the most part, are not delivering an exceptional service by convincing buyer's that their dreams are a bad idea!

How did we get here and how are we going to get out?

The Real Estate Crash in recent years has put more fear in the public eye, and from where I stand and watch, REALTORS have followed suit! When did we become the SCARED REALTOR, delivering FEAR to our clients? The very hand that feeds us? Why did we forget that we are the PROFESSIONALS with knowledge and insight into the solutions that keep buyer's dreams alive? The negative "buzz" has got to stop if we are to move forward. I hear it in conversation with so many I talk to and I disagree.

Buyers across the country are afraid to buy the very thing they dream of....

~ A CONDO ~

It makes so much sense for so many and yet we have SCARED the buyers away. I am here to deliver the dream, help it all work and make condos make sense for you!

Why do buyer's want condos so bad? Depending on their place in time in their lives the reasons may differ:

1) Low Maintenance ~ no mowing, no raking, no plowing, no painting, no roofing, no gutter cleaning...

2) Great place to call home before, after or beginning a family

3) Easy living for busy professionals

4) A place for our parents to have their own space with less fuss

5) Low, low rates & Low low prices

6) Sustained equity ~ Professionals, first time home purchasers and retirees all have one thing in common; difficulty up keeping the exterior.

By allowing an association to maintain the yearly upkeep, loss of home equity is less likely in your future.

I am going to work with our lending industry to encourage the institutions that fund these projects to become more competitive in today's market. With our government programs letting us down by not allowing FHA and VA buyers to buy what they want, where they want the conventional lenders are going to have to get creative in order to keep the dream alive for both buyer's and builders alike. The first of these meetings was held today and the response was exhilarating.

Developing these programs will take a little time and ingenuity but will be a benefit to buyers, sellers, lenders and agents! We are all in this together and need to look for the solution and stop being part of the problem. Buyers want condos, builders want to develop them, lenders want the mortgages and agents want the sales so please join me in delivering a service that will be a win win situation for all involved!

If your an agent listing new construction condos talk with the parent lender and ask for their assistance, I did and they are excited to offer a helping hand in delivering a product that will give the American public what they want, an easier way of life with competitive financing options that our government seems to have forgotten we deserve.

If your an agent showing new construction Condos don't run the other way when your told "no FHA financing"! Although this might be true, the project lender has many other options if you are willing to take the time to learn them and deliver to your client the real service they deserve.

If your a buyer obtaining negative feedback from your Lender or Realtor give me a call. I will be happy to look at the real issues blocking your dreams and assist you in finding a way to make a sound financial decision that works with your lifestyle and not someone else's.

RE/MAX Professional Associates

Kathleen Chase, Realtor 860-942-9212

This Blog Is Brought To You By:

Kathleen Chase, Realtor

RE/MAX Professional Associates
860-942-9212

www.CTHomeLocator.com
kathychase@jckcrealty.com

View My WebSite!

Westerly RI Home for Sale- 3 Surrey Drive- Fringe on Top!

Kathleen Chase, Realtor (RE/Max Professional Associates) — Thu, 21 Apr 2011 08:21:21 -0700

FABULOUS WESTERLY, RI HOME FOR SALE OFFERED BY GINNY GORMAN!

With the busy Real Estate Season upon us and a price drop to $288,000 this one won't last long! Give Ginny a call for your private showing today at 401-529-7849 and she will be happy to accomidate your needs!

Via Ginny L Gorman North Kingstown RI Expert (401)529.7849 www.RIHouseHunt.com (Phillips Post Road Realty- Waterfront & ocean front homes):

Westerly RI home for sale at 3 Surrey Drive - fringe on top. Exceptionally well maintained and updated home in the western side of town and just 5 minutes to Rte. 95. This ranch home is just right for the family looking for more space in a great neighborhood at the price of $295,500..

If you are a lover of musicals as I am you may remember the song in the musical Oklahoma regarding the surrey with fringe on top- i just couldn't resist using it! This Westerly ranch home for sale really has the fringe on top with its location & surrounding great neighborhood.

This 3 Surrey Drive Westerly ranch home for sale is well maintained and has updated siding, windows, floors, electrical and kitchen. It has 2000 square feet of living space and nearly a 1/2 acre of fenced yard with huge flower and vegetable gardens, koi pond plus a shed with electricity.

3 spacious bedrooms & 2 1/2 baths with integral 2 car garage to enjoy. Potential in-law apartment with walk out downstairs to consider also. 3 zones of oil heat and 2 separate electric panels with a total of 350 amps. With a large enough backyard you could easily put a pool in if desired.

"3 Surrey Drive -Westerly RI"

Create a free slideshow with Picnik!

At 3 Surrey Drive, you will be in the Springbrook Elementary school district. Westerly schools are an added plus in living in this town.

Not only are you close to the town of Westerly but you are close to Rte. 95 for traveling south to CT or north to Providence. Wonderful living environment which offers waterfront access for beaches and boating as well - just minutes away. Exceptional restaurants in the local area as well as shopping conveniences too. This may be the home for you...Westerly RI Home for Sale at 3 Surrey Drive - fringe on top!

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Ginny Lacey Gorman knows Westerly RI and the geographic area, schools, local happenings, important tidbits of information and businesses well. If you are looking for someone to guide you through the home buying or selling process, Ginny Lacey Gorman is a licensed Realtor® and would be happy to assist you. Waterfront, oceanfront and coastal RI homes for sale are her specialty but all of RI is her backyard. So feel free to search for RI homes for sale. When you are in need of more information from an internet savvy Realtor® who sells RI houses in this real estate market, call Ginny at 401.529.7849.

This blog © and its contents is original to Ginny Lacey Gorman

Ginny L. Gorman a purveyor of Fine RI Real Estate

Specializing in waterfront, ocean front, vacation, coastal and luxury homes for sale in North Kingstown, South Kingstown, Narragansett, Jamestown, Charlestown, East Greenwich, Exeter, West Greenwich, Westerly RI and beyond ... I sell dreams! because there is no place like home...the RI Realtor in the Sparkly Red Shoes.

Looking for a terrific Rhode Island Realtor? Let me GOOGLE one for you!



cell: 401.529.7849   office: 401.884.4100 ext.268 Ginny Lacey Gorman, Realtor

   www.RIHouseHunt.com

RE/MAX Professional Associates

Kathleen Chase, Realtor 860-942-9212

This Blog Is Brought To You By:

Kathleen Chase, Realtor

RE/MAX Professional Associates
860-942-9212

www.CTHomeLocator.com
kathychase@jckcrealty.com

View My WebSite!

Multi-Family For Sale in Sterling, CT 06377

Kathleen Chase, Realtor (RE/Max Professional Associates) — Mon, 22 Nov 2010 16:42:47 -0800

Multi-Family For Sale in Sterling, CT 06377

INCOME PRODUCING PROPERTY

83 Main Street Sterling, CT

$159,900.

Four one bedroom apartments / 2 up / 2 down, fully rented and producing income!

Newer roof, electrical, plumbing and it's vinyl sided for low maintenance!

All units include Range & Refrigerators

Individually Metered / All Tenants Pay own Utilities!

Cable Available / City Water / Sewer

"In need of a cosmetic facelift"

Live in one and let the rest pay the bills!

RE/MAX Professional Associates

860-942-9212

www.CTHomeLocator.com

RE/MAX Professional Associates

Kathleen Chase, Realtor 860-942-9212

This Blog Is Brought To You By:

Kathleen Chase, Realtor

RE/MAX Professional Associates
860-942-9212

www.CTHomeLocator.com
kathychase@jckcrealty.com

View My WebSite!

Tax Tips for Homeowners Looking Ahead to 2010 Returns

Kathleen Chase, Realtor (RE/Max Professional Associates) — Mon, 17 Jan 2011 14:19:43 -0800

Great post by Amy Mullen! Although the year has come to an end, with great determination, many tax advantages are there for you! Too many people miss out on legitimate tax breaks by not digging deep. Take advantage of the great breaks available to you by doing your homework!

Via Amy Mullen (RE/MAX Professional Associates):

In addition to the standard tax deductions for home owners, here are some additional ones that you might want to check your records to see if you qualify.

The tax areas that are most beneficial for home owners are; mortgage interest, points paid to refinance your mortgage, PMI, capital gains up to $250k for qualifying home owners, home improvements that have increased the value of your home at your future sale (and reduce the amount of capital gains), real estate and property taxes, home offices, *some* relocation moving expenses, home improvements for medical reasons and vacation homes.

Check out these additional tax tips for homeowners looking ahead to 2010 returns.

Claim remaining energy tax credits

It's time to get cracking if you didn't exhaust your full allotment of residential energy tax credits during 2009. Although tax credits for big projects like residential wind turbines and solar energy systems have no upper limit and are good through 2016, energy tax credits capped at $1,500 expire at the end of 2010. Eligible capped projects include new windows and doors, insulation, roofing, water heaters, HVAC, and biomass stoves.

Here's how it works with capped federal credits: You can earn energy tax credits worth 30% of the cost of qualifying improvements, but the total tax credits can't exceed $1,500 combined for 2009 and 2010. So if you only took, say, $700 worth of capped energy credits on your 2009 tax return, you're still due for another $800 in credits in 2010. Some projects include the cost of installation-a furnace, for example-while others, such as insulation, are limited to the cost of materials.

Max out tax benefits of a vacation home

Use a vacation home wisely, and it'll provide a break from taxes as well as the hustle and bustle of everyday life. The rules on tax deductions for vacation homes can get a bit tricky, but understanding and adhering to them can yield many happy tax returns.

If your vacation home is truly a vacation home meant for your personal enjoyment, as opposed to a rental-only income property, you can usually deduct mortgage interest and real estate taxes, just as you would on your main home. You can even rent out the home for up to 14 days during the year without getting taxed on the rental income. Not bad.

Now, let's say you want to rent out your vacation home for more than 14 days in 2010, but also use it yourself from time to time. To maximize the tax benefits, you need to keep tabs on how many days you use your vacation home. By restricting your annual personal use to fewer than 15 days (or 10% of total rental days, whichever is greater), you can treat your vacation home as a rental-only income property for tax purposes.

Why is that a big deal? In addition to mortgage interest and real estate taxes, rental-only income properties are eligible for a slew of other tax deductions for everything from utilities and condo fees to housecleaning and repairs. Deductions are limited once personal use exceeds 14 days (or 10% of total rental days), so get out your calendar now to strategically plot your vacations.

Take advantage of tax breaks for the military

In salute to members of the armed forces serving overseas who want to purchase a home, the IRS is extending a lucrative tax perk for military personnel. If you spent at least 90 days abroad performing qualified duty between Jan. 1, 2009, and April 30, 2010, you have an extra year to earn a homebuyer tax credit. In addition to uniformed service members, workers in the Foreign Service and in the intelligence community are eligible.

Thanks to this extension of the homebuyer tax credit, qualifying military personnel have until April 30, 2011, to sign a contract on a new home. The deal must close before July 1, 2011. Just like non-military buyers, first-time homebuyers can earn a tax credit worth up to $8,000, and longtime homeowners can earn a credit of up to $6,500. The same income restrictions and $800,000 cap on home prices apply.

Military personnel can also get a break if official duty calls and they're forced to move for an extended period. Normally, the homebuyer tax credit needs to be repaid if you sell your home within three years, but this requirement is waived for uniformed service members, Foreign Service workers, and intelligence community personnel. The new extended duty posting doesn't need to be overseas, but it must be at least 50 miles from your principal residence.

Challenge your real estate assessment

You can't do much about the rate at which your home is taxed, but you can try to do something about how your home is valued for taxation purposes in 2010. The process varies depending where you live, but in general local governments conduct a periodic real estate assessment to determine how much your home is worth. That real estate assessment figure is used to calculate your property tax bill.

You can usually appeal your real estate assessment if you think it's too high. Contact your local assessor's office to find out the procedure, and be prepared to do some research. There's often no charge to request a review of your assessment.

Look for errors. You probably received an assessment letter in the mail, and many local governments provide the information online as well. Make sure the number of bedrooms and bathrooms is accurate, and the lot size is correct. Also check the assessed value of comparable homes in your area. If they're being assessed for less than your home, you might have a case for relief.

Even if your assessment is accurate and comparable homes are being taxed at the same rate, there might be another route to tax savings. Ask your assessor's office about available property tax exemptions. Local governments often give breaks to seniors, veterans, and the disabled, among others.

This article provides general information about tax laws and consequences, but is not intended to be relied upon by readers as tax or legal advice applicable to particular transactions or circumstances. Consult a tax professional for such advice; tax laws may vary by jurisdiction.

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Amy Mullen, Realtor CPA LMC MBA
RE/MAX Professional Associates
617-899-2146
amymullen@remax.net
www.amymullenrealestate.com

A RESIDx True Market Expert

RE/MAX Professional Associates

Kathleen Chase, Realtor 860-942-9212

This Blog Is Brought To You By:

Kathleen Chase, Realtor

RE/MAX Professional Associates
860-942-9212

www.CTHomeLocator.com
kathychase@jckcrealty.com

View My WebSite!

Sterling, CT Home For Sale!

Kathleen Chase, Realtor (RE/Max Professional Associates) — Fri, 17 Dec 2010 09:53:18 -0800

Sterling, CT Home For Sale!

4 Bed/2 Bath Ranch Listed at $459,900!

Offering 3,300 Square Feet on 10.97 Acres!

This unique property offers so many possibilities!

The diversified options will depend on your

own needs, creativity and personal preference!

A Fabulous Main Home
Utilize and Expand the Orchard of 800+ Blueberry Bushes Currently Sold to Local Markets and Health Food Stores
A Suitable Sanctuary for the Self Motivated Individual with it's Wonderful Work Space
A Place to Live While You Over See the Development of the Adjoining Lot or Build the Home of Your Dreams
Keep it all to Yourself to Develop a Mini Farm for animals, orchard or enjoyment of your own desires

The Options are endless and limited only by your imagination!

For showings or more information contact Kathy Chase @ 860-942-9212

RE/MAX Professional Associates

Kathleen Chase, Realtor 860-942-9212

This Blog Is Brought To You By:

Kathleen Chase, Realtor

RE/MAX Professional Associates
860-942-9212

www.CTHomeLocator.com
kathychase@jckcrealty.com

View My WebSite!