Washington Real Estate

Buying a home is an exciting time in one's life. Making the smart move of choosing a REALTOR® is your first step to ensuring that your new home and community meets your needs. Our services and experience range from financial aid to helping you find the home that best suits you and your family. For your convenience, we also provide listings by email. We pride ourselves on repeat business and hope you'll come to understand why.

As Your Agent, We Will:

Assure that you see all the properties in the area that meet your criteria.
Guide you through the entire home buying process, from finding homes to look at, to getting the best financing.
Make sure you don't pay too much for your new home and help you avoid costly mistakes.
Answer all of your questions about the local market area, including schools, neighborhoods, the local economy, and more.

Before You Start Looking For Your New Home:

Check your credit rating. Straighten out any errors before its too late.
Determine a comfortable monthly budget for your new purchase, including down payment and monthly payment.
Find a loan program that meets your needs and get pre-qualified (preferably pre-approved).
Choose a REALTOR® that you trust and who understands your needs.
Determine what neighborhood best matches your needs.
Identify important features you need your new home to have.

Closing Costs to Expect:

Lender fees include charges for loan processing, underwriting, preparation and establishing an escrow account.
Third-party fees include charges for insurance, title search, and other inspections such as termites.
Government fees include deed recording and state & local mortgage taxes.
Escrow and interest fees include homeowner's insurance, loan interest, real estate taxes, and occasionally private mortgage insurance.

First-Time Homebuyer Tax Credit up to $8,000

On February, 17, 2009, President Barack Obama signed into law the American Recovery and Reivestment Act of 2009, which includes a tax credit for qualifying taxpayers who are first-time homebuyers. Some of the tax credit details are:

1. You must be a first-time homebuyer purchasing a principal residence or a buyer who has not owned a principal residence in the three years prior to the purchase date.

2. The tax credit does not have to be repaid if the home remains your main residence for 36 months from the purchase date.

3. You must purchase a home between January 1, 2009 and November 30, 2009 to qualify.

4. You can claim a tax credit of 10% of the purchase price up to $8,000, or $4,000 for married individuals filing separately.

5. The amount of the credit phases out for taxpayers whose adjusted gross income is more than $75,000, or $150,000 for joint filers.

6. You can even claim the credit on your 2008 return if you purchase before you file your tax return due April 15, 2009.

The 2009 tax credit for first-time homebuyers described above differs from the prior enacted tax credit in 2008. The new law expands the maximum credit from $7,500 to $8,000, and eliminates repayment of the credit for taxpayers who keep the home as their principal residence for 36 months.

In addition to the Federal tax credit, some states may offer additional tax credits for first-time homebuyers. Make sure you check with your state government to determine if you qualify for additional tax credits.

Disclaimer: The information provided above is a brief overview of the First-Time Homebuyer Tax Credit as defined in the American Recovery and Reinvestment Act of 2009. For more detailed information on the First-Time Homebuyer Tax Credit, please visit www.irs.gov . Contact a professional tax consultant for more information on how the tax credit applies to your circumstances and filing status.