The first-time home buyer tax credit was an overwhelming success at creating many new home owners. While most would agree that these owners were just waiting for the right time to buy, the right time had arrived. Now the right time continues!
Last week, the credit was not only extended for another 6 months, it was expanded to include first-time home buyers with higher incomes. The Worker, Homeownership, and Business Assistance Act of 2009 opens the up-to-$8000 tax credit to almost all first-time home buyers by increasing the maximum annual income. The income cap for single home buyers has increased from $75,000 to $125,000. The cap for married buyers jumps from $150,000 to $225,000.
Home owners looking to purchase a different home shouldn’t feel left out anymore, the new credit covers them as well! Homeowners who lived in their home for at least 5 consecutive years in the past 8 are eligible for a tax credit of up to $6,500 on their next primary residence purchase. The income limits are the same as for first-time home buyers.
The purchased home must be a primary residence costing less than $800,000. Live in it for at least three years after purchase and the $8000 will not have to be paid back.
In order to fight tax fraud, the new law requires anyone claiming the credit to provide documentation that the sale has closed and only adults can claim the credit.
Anxious for your money? Even if you purchase the home in 2010, you can claim it on your 2009 taxes and get an almost instant credit back. Ask your tax professional for details!
Sales contracts must be signed by May 1, 2010, with closing by the end of June. Don’t waste time, let’s start looking! Call me today and I’ll show you what’s available.
If you are a home owner wishing to sell, call me and let’s get your house on the market in time for your next home purchase to qualify you for the credit!
If you have delayed planting your spring bulbs, delay no more. The University of Minnesota Extension Service recommends planting of most spring bulbs in Minnesota by the end of October. Early November may not be too late though, especially for tulips which can be planted as long as the ground isn’t frozen too hard.
Here are some tips to remember:
Bulbs should be firm with a papery skin. If soft or moldy, throw them away.
Bulbs need to be able to grow roots once planted in the fall, and they need the cold winter to break their dormancy cycle in order to bloom in spring.
Bulbs will need warmth and light in the spring to trigger their growth. Choose a site that will not be shaded in early spring.
Bulbs can be planted under trees as long as they will receive enough light before and just after their blooming season. Full shade in summer is acceptable.
Soil near southern and western exposure foundations could start to grow too soon, risking cold damage. It’s better to plant in an area that is sheltered from damaging winds but that will not warm up before other areas.
Bulbs need rich, well-drained soil. Avoid areas that tend to fill with water during rain storms.
New bulb beds should be cleared of rocks and matted roots, and some organic matter should be tilled in to a depth of 10-12 inches. Add some fertilizer in when tilling, but do not add it directly to the bulb holes.
Plan to plant the bulbs in odd numbers or mass plantings. Put the bed where it will be enjoyed from a window or the road.
The basic rule for planting depth is 2 ½ times deeper than the diameter of the bulb. Sandy soils should be a bit deeper, and heavy clay soil should be a bit shallower.
Always plant the bulb with the pointed end facing up, cover with a portion of the soil and water well. Add the rest of the soil, smoothing the surface, water again and add 3-5 inches of mulch. Leaf material, grass clippings and straw work well. (You will remove much of this mulch in the spring.)
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$1,797,988
95 Woodland Edina, MN 55424
Bedrooms:
5
Bathrooms:
4
Square Feet:
5272
Year Built:
2006
MLS#
3850438
Special setting tucked into a quiet street in East Edina on Minnehaha Creek. Enjoy your private yard w/all the modern amenities! New construction, archet designed 2 Story w/amazing windows to nature! 4 BRs one level, Walkout, stately main floor library!
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Edina Public Schools have been recognized by publications around the nation as outstanding. One of the most recent was Family Circle magazine, which ranked Edina as one of its top 10 towns, due in large part to the quality of Edina Public Schools.
Concord Elementary is a five-star school within the Edina Public School district. Serving Kindergarten through 5th grade students, Concord strives to create an exciting environment committed to meeting the mission statement goals and beliefs.
Concord has an active Parent Teacher Organization. They hold several fund raisers throughout the year, host fun educational events for the school’s families, volunteer in classrooms and at school activities, and help ensure the costs of “extra items” are met.
Concord Elementary is located at 5900 Concord Avenue South in Edina.
There are 5 other elementary schools, 2 middle schools, and 1 high school located within the Edina Public School District. http://www.edina.k12.mn.us/
Looking for a unique activity this weekend? Head over to the Mall of America in Bloomington. There is a unique competition going on.
Called “Canstruction”, architect students are competing to see who can build the best structure. But these aren’t just any structures. They are made out of cans. Regular cans of corn, fruit cocktail, SpaghettiO’s, and everything else you can think of!
Beginning today, the competitors have 12 hours to create the most creative and intricate designs they can. Judging of the competition will be Sunday afternoon.
Here is a quick video I found on YouTube showing an entry in a similar Canstruction competition in Canada. Enjoy!
The designs will be deconstructed on Monday and the food donated to the Second Harvest Heartland food bank in St. Paul. Last year the competition raised nearly 20,000 pounds of food!
Want to contribute to the competition and the food drive? Be sure to bring along some canned goods with you when come. These can be delivered to the Sears Court stage throughout the event.
When purchasing a house, having a sizable down-payment has always been good advice, and with today’s tighter credit guidelines it is essential. However you need to keep in mind that you will need savings beyond the down payment of your home. Here is a list of the things that usually come up during a home purchase and subsequent move that will require some cash.
Appraisal fee
Professional home inspection
Extra closing costs
Homeowner’s association fees
Repairs, upgrades, renovations. There are the obvious and the not-so-obvious. Your inspection may have suggested upgrading some of the electrical outlets, and you may already know you don’t like the paint color, but after you move in there are little things you will probably notice that will you’ll need some cash to rectify immediately.
Moving van rental fees, boxes, bubble wrap, and mover’s fees. Even if you enlist the help of friends or family, you will need to feed them or at least provide them with refreshments. And don’t forget the gas for the moving vehicle!
Termination fees for current services, deposits and connection fees for new services.
Appliances. If your new home already has a full set of appliances, then you can scratch this off your list! If not, be sure to remember the extra costs involved with warranties, installation, etc.
Household items. Invariably you will find that the stuff you filled your last home with are not quite right for the new one. This can turn into hundreds or thousands of dollars from runs to the home furnishings store and home-improvement store.
Lawn-care equipment. If this is your first home with a yard you will be surprised at how much equipment you will decide you need. An alternative is to hire someone to do your lawn care for you, which will still incur a cost, although it will be spread out over the coming months.
If you are relocating a great distance you might have air fare or other transportation costs for your entire family (pets included), a night or two in a hotel, and all the other expenses that can creep up.
And don’t forget that for at least a few days you might be eating out while you search for that box of dishes!
There is a long list of fun things to do this Halloween in our area. Here are a few of my favorites.
ZooBoo at Como Park Zoo. Oct. 17, 18, 23, 24, 25, 4:30-7:30 pm. $7 at the gate.
Apple Jack Orchard Corn Maze. Saturdays & Sundays through Halloween. Saturday nights are flashlight night until 10 pm. $6 adults, $5 ages 6-11, free ages 0-5.
Autumn Unplugged at the Arboretum. All month! 3675 Arboretum Drive, Chaska. Admission is $9 for adults, free for members and children 15 and under. Activities include:
Weekend Family Fun every Saturday and Sunday, noon-4 pm.
Pumpkin Patches and More. A comprehensive list of pumpkin patches, corn mazes, safe trick-or-treating, hayrides, etc throughout the state of Minnesota.
There’s an Extreme Home Makeover going on in the Twin Cities this weekend. The TV show’s crew and an army of local volunteers has demolished the crumbling home of St. Paul’s Sandy Morris and is building a new home that could house her family for another 100 years.
The old house had a crumbling foundation, sinking roof, buckling walls, and a mold problem. It is a much needed rebuild, but since Sandy grew up in the house it is a bittersweet blessing. In an interview with the Star Tribune, Sandy said “It’s going to be quite emotional.”
Sandy runs a successful and very popular day care center in her home, and the new house will accommodate an expansion of her day care as well.
As in many of the Extreme Makeover Home Edition shows, the mission is to improve the neighborhood as well as the family’s home. In this case, there is a food drive, a blood bank, and a neighborhood cleanup going on which will provide benefits to everyone in the vicinity.
The crew can use all the volunteers they can get to complete all the projects in their designated 96 hour time frame. They need qualified carpenters of course, but also anyone who can help with painting, cleanup, minor repairs, etc. According to their website, they “need 100-200 volunteers a day that will be used in traffic control, clean-up, catering, shipping, and other misc. duties.”
Volunteer shifts are running every 4 hours, beginning at midnight. They request check-in to be 20 minutes prior to the start of a shift. Volunteers are especially needed in the overnight hours.
While they might end up turning people away, if you want a chance to help improve the lives of a deserving area family and improve an entire neighborhood in the process, put on your steel toed boots, grab your hammer and head on over to the site! Well, first you need to head over to their website and read all the rules and find out just how to volunteer.
Oh, and don’t forget to donate blood at the associated blood drive. You can find more information on the Red Cross website.
Bicycling is a popular sport in Minnesota. So popular that we have more bike trails than any other state in the country! Hennepin County has an extensive list of trails available for leisure, exercise, and basic transportation. While many of these are on-road routes, the number of off-road trails are growing as well.
The Minnesota River Bluffs Regional Trail follows the path of an old railway and runs from Hopkins through Chanhassen. There are plenty of entry points and stop-offs, beautiful views, and notes of history along the way.
One of the best treasures of nearby Eden Prarie is Birch Island Woods. It is 36 acres of protected sanctuary in its natural state with trees and wetland. Bike trails, along with hiking, ski, and nature trails, snake through it and are linked to the Minnesota River Bluffs Regional Trail.
Within the city of Edina, there is progress on improving the bike trail system with a comprehensive plan that is being implemented. The goal is to create a bike-friendly community conducive and safe to all kinds of bicycling. Follow the latest improvements, view the whole plan, and find upcoming bicycle events at Bike Edina.
Check out the list of frequently updated Edina bicycling events, maps, and comments from MapMyRide.
Want some more to do? There is lots of general info and social bicycle events on the Twin Cities Bicycling Club website.
On a final note, before you jump on your bike, help keep our bike trails safer by reviewing the rules of The Minnesota Share the RoadBicycle Safety Education Program.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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Soil near southern and western exposure foundations could start to grow too soon, risking cold damage. It’s better to plant in an area that is sheltered from damaging winds but that will not warm up before other areas.
Edina Public Schools
There is a long list of fun things to do this Halloween in our area. Here are a few of my favorites.
As in many of the Extreme Makeover Home Edition shows, the mission is to improve the neighborhood as well as the family’s home. In this case, there is a food drive, a blood bank, and a neighborhood cleanup going on which will provide benefits to everyone in the vicinity.
Bicycling is a popular sport in Minnesota. So popular that we have more bike trails than any other state in the country! 