TeamShoreline Blog

2009 Homebuyer Tax Credit

CT-Team Shoreline (Coldwell Banker Residential Brokerage) — Wed, 25 Feb 2009 15:35:04 -0600

In 2008, Congress enacted a $7500 tax credit designed to be an incentive for first-time homebuyers to purchase a home. The credit was designed as a mechanism to decrease the over-supply of homes for sale.

For 2009, Congress has increased the credit to $8000 and made several additional improvements. This revised $8000 tax credit applies to purchases on or after January 1, 2009 and before December 1, 2009.

Here are some of the details:

The 2008 $7500, repayable credit is increased to $8000 and the repayment feature is eliminated for 2009 purchasers. Any home that is purchased for $80,000 or more qualifies for the full $8000 amount. If the house costs less than $80,000, the credit will be 10% of the cost. For example, if an individual purchased a home for $75,000, the credit would be $7500. It is available for the purchase of a principal residence on or after January 1, 2009 and before December 1, 2009.

Eligibility: Only first-time homebuyers are eligible. A person is considered a first-time buyer if he/she has not had any ownership interest in a home in the three years previous to the day of the 2009 purchase.

www.TeamShoreline.com

NEW LISTING - OPEN HOUSE SUNDAY, FEBRUARY 15, 2009 1 - 3 PM

CT-Team Shoreline (Coldwell Banker Residential Brokerage) — Tue, 03 Feb 2009 15:41:10 -0600

Charming and bright 3BR/2BA Cape Cod home on 0.22 acres with deeded beach rights in one of the most desirable neighborhoods in Madison, CT (Neck RIver). Please stop by and see this property on Sunday 1-3 PM.

Great primary residence or second home.

Offered at $524,000

Any question call either Steve or Tania at (203) 245-4663

www.TeamShoreline.com

This is a terrific site for home inspection information.....

CT-Team Shoreline (Coldwell Banker Residential Brokerage) — Fri, 23 Jan 2009 11:14:33 -0600

This is a great site if you want to know anything and everything about property inspections --

InspectAPedia.com is a comprehensive building encyclopedia. This site provides illustrated, detailed, in-depth information on detecting, diagnosing, correcting and preventing building defects, failures, as well as health or safety hazards including environmental concerns.

Take a look. You will be pleased with the amount of information on this site.

Tania & Steve @ www.TeamShoreline.com (203) 245-HOME

Madison CT 2009 PENGUIN PLUNGE....

CT-Team Shoreline (Coldwell Banker Residential Brokerage) — Wed, 21 Jan 2009 13:17:48 -0600

The 2009 Madison

PENGUIN PLUNGE

Join us at ...

Hammonasset Beach State Park

January 31, 2009
REGISTRATION: 10:00-11:45am
PLUNGE: 12:00pm

Don't miss the opportunity to run, jump or dive into the chilly waters of Connecticut. Last Year thousands of "Penguins" took the plunge statewide to raise much needed funding for Special Olympics Connecticut.

"Penguins" solicit donations from family, friends and local businesses in order to take the plunge. Incentive prizes for money raised and individual and group awards are given in a number of different categories.

All proceeds from the Penguin Plunge go directly to support Special Olympics Connecticut's year-round sports training and athletic competition programs for more than 6,500 children and adults with intellectual disabilities and Special Partners, throughout the state of Connecticut.

Go to: http://soct.convio.net/site/TR?fr_id=1833&pg=entry to register, volunteer, or donate.

Call Tania or Steve (203) 245-HOME

www.teamshoreline.com

Open House this Sunday February 15 in Madison.....1:00 to 3:00 PM

CT-Team Shoreline (Coldwell Banker Residential Brokerage) — Wed, 21 Jan 2009 10:21:38 -0600

PLEASE STOP BY AND VISIT:

32 WOODLAWN AVENUE

PRICE REDUCED TO: $990,000

Location, Location, just 3 houses from one of the finest beaches in Madison. Year round home off Liberty Street with deeded beach rights to Seaview Beach.1st Floor Master plus another Bedroom and 3 Bedrooms upstairs. Central A/C, Attached 2 car garage w/3 season porch.

Call Steve or Tania @ (203) 245-HOME with any questions.

www. TeamShoreline.com

IMPORTANT.......Federal income tax credit for first time homebuyers....

CT-Team Shoreline (Coldwell Banker Residential Brokerage) — Thu, 21 Aug 2008 18:12:38 -0500

As part of the "Housing and Economic Recovery Act of 2008" that was recently signed into law, Congress has created a new, temporary federal income tax credit to provide an incentive for first-time homebuyers.

The highlights of this federal tax credit are:

• The amount of the federal tax credit is for 10% of the cost of the home, up to a maximum credit of $7,500. In essence, this is an interest-free loan that enables consumers to receive a tax credit on a dollar-for-dollar basis on their personal income tax return in the calendar year following the year of closing on their home. They begin paying the tax credit back the year after that and make equal installments during the next 15 years. If the homeowner sells the home at any point during the 15-year payback period, then the remaining amount is recaptured, unless they sell the home at a loss, at which point the balance is forgiven.

In other words: If a home costs $65,000, the allowable credit would be $6,500. If a home costs $120,000, then the allowable credit would be $7,500.

• Eligibility is for first-time homebuyers only. In this case, a first-time homebuyer is defined as an individual who has not owned a primary home at any time during the past three years, but who may have done so previously. Although certain income limits do apply, the amount of the credit is the same for all taxpayers, married or single.

• Individuals whose Form 1040 filing status is single (or head of household) are eligible for the tax credit if their income is no more than $75,000. Individuals who file a joint return may have no more than $150,000 in income.

• Individuals with incomes between $75,001 and 94,999 (single) or $150,001 and $169,999 (joint returns) are eligible for a partial tax credit.

• Individuals with incomes greater than $95,000 (single) or $170,000 (joint return) are not eligible for this tax credit.

• The federal income credit can be claimed on one's individual or joint tax return for the purchase of any single-family home between April 9, 2008 through July 1, 2009. Individuals should consult a professional tax advisor for exact tax calculations.

o e.g., If an individual's actual tax liability was $5,000, then after the tax credit is applied the purchaser would receive a total refund of $2,500. The refundable amount is the difference between the $7,500 tax credit and the amount of one's tax liability.

o e.g., If an individual's actual tax refund was $2,000, then after the tax credit is applied the purchaser would receive a total refund of $9,500.

• This tax credit is required to be repaid without interest in equal installments of 6.67% of the total credit each year for 15 years beginning the year after the tax credit is claimed.

o e.g., If a homebuyer claims the $7,500 credit in 2009 on their federal income tax return for a closing that occurred in 2008, then the credit is received in 2009, so repayment begins in 2010 with an annual repayment amount of approximately $500 a year.

Keep in mind that this tax credit is retroactive.

For more information please go to the following websites:

http://www.realtor.org/gapublic.nsf/files/hbtaxcreditqa2008.pdf/$FILE/hbtaxcreditqa2008.pdf

http://www.realtor.org/GAPublic.nsf/files/chart_homebuyer_tax_credit_.pdf/$FILE/chart_homebuyer_tax_credit_.pdf

or call TANIA @ (203) 695-2544.

MADISON CT weekend fun......August 8 - 10

CT-Team Shoreline (Coldwell Banker Residential Brokerage) — Fri, 08 Aug 2008 18:12:28 -0500

This friday evening at 8;00, make sure to catch "An All-Beethoven Fest", the second in a series of four (Friday evenings during August) Chestnut Hill Concerts at the First Congregational Church on the Green.
For more information, visit http://www.chestnuthillconcerts.org/

On Saturday from 9am to 4pm the Madison Exchange Club presents an Antique Show and Sale. Location: Town Green.

Stop by Lee Academy to see Madison Historical Society's "A Road Runs Through It" exhibit, make it a point to do so. It's about the 50th anniversary of I-95, it's free, and open Saturday, 11am to 4pm. The exhibit will be open Saturdays through August 23rd.

Finish off the weekend on Sunday evening from 6 to 8pm by enjoying a free Concert on the Green featuring the Sommers-Rosenthal Family Band, sponsored by Madison Beach & Recreation.

http://www.teamshoreline.com

Open House Sunday August 10 in Guilford.....1:00 to 3:00PM

CT-Team Shoreline (Coldwell Banker Residential Brokerage) — Sun, 03 Aug 2008 14:29:08 -0500

WOW!!! Great condo living within walking distance of the Guilford Town Green. Pristine Knap Foundry end unit featuring:

2BD,2BA 2200 sq ft end unit with patio, new mechanicals, granite counters, updated baths, new hardwood flrs, marble foyer, cathedral ceiling in LR w/ Fireplace, large windows & and more. Walk to Town & Green. This unit is a must see!

For more information CALL TANIA @ (203) 695-2544.

PRICE REDUCED -- Offered @ $499,900.

Madison CT July 4th Activities.......

CT-Team Shoreline (Coldwell Banker Residential Brokerage) — Tue, 01 Jul 2008 19:26:28 -0500

Annual Fireworks
Starts Thursday, July 3, 2008 at 09:00 PM Ends Thursday, July 3, 2008 at 10:00 PM

4th of July Parade
Starts Friday, July 4, 2008 at 11:00 AM Ends Friday, July 4, 2008 at 12:00 PM Downtown Madison to Surf Club The is an annual parade sponsored by the Madison Exchange Club, featuring marching bands, floats, community groups, etc. This year the theme is "Our Environment, Let's Get Green", celebrating Madison CT proud heritage with a focus on the environment.

Concert on the Green
Starts Saturday, July 5, 2008 at 05:00 PM Ends Saturday, July 5, 2008 at 09:00 PM Madison Town Green Featuring Shoreline Youth Symphony Orchestra at 5pm, Ancient mariners at 6:15, Wallingford Symphony at 7pm. COME AND JOIN US! Tania Stetinin (203) 695-2544

News --- Weekend train service starts in Madison CT..............

CT-Team Shoreline (Coldwell Banker Residential Brokerage) — Mon, 30 Jun 2008 19:08:15 -0500

Governor Rell announced that the Shoreline East train service will be expanded to include WEEKENDS
beginning this Fourth of July weekend!

The service will provide eight westbound trains to New Haven and eight eastbound trains to Old Saybrook. The trains will also provide reverse stops at the Guilford station throughout the day.

Tied in with the new Madison train station (scheduled for completion in late July), this is great
news and a huge step forward for CT Shoreline commuters, residents and tourists!

To see the new schedule, you can visit their website at:
http://www.shorelineeast.com/trains_weekend.htm

Tania Stetinin

(203) 695-2544

Open House this Sunday July 6 in Madison.....1:00 to 3:00PM

CT-Team Shoreline (Coldwell Banker Residential Brokerage) — Mon, 30 Jun 2008 15:28:31 -0500

EXCEPTIONAL NANTUCKET SHINGLE STYLE COLONIAL IN DESIRABLE MADISON BEACH/SHORELINE AREA W/GOLF COURSE VIEWS!

QUALITY APPOINTMENTS INCLUDE: BRAZILIAN CHERRY FLOORING, GOURMET KITCHEN/PROF. STAINLESS APPL., STONE FIREPL, WATERWORKS DESIGNED BATHS, PROFESSIONAL LANDSCAPE DESIGN AND MUCH MORE!

OPEN THIS SUNDAY JULY 6 FROM 1:00 TO 3:00 PM. COME SEE THIS FABULOUS PROPERTY -- OR FOR MORE INFORMATION CALL TANIA @ (203) 695-2544.

OFFERED @ $1,695,000.

PHOTOS TO FOLLOW.......

Madison CT Middle Beach Beauty -- Open House this Sunday, June 29

CT-Team Shoreline (Coldwell Banker Residential Brokerage) — Mon, 23 Jun 2008 13:00:35 -0500

REMODELED 2625sf COLONIAL W/ WATERVIEWS, STEPS TO EAST WHARF BEACH! GOURMET KITCHEN. (GRANITE/VIKING/SUBZERO STAINLESS STEEL). MASTER BALCONY W/VIEWS! GARAGE WITH ADD'L FINISHED ROOM! WALKUP ATTIC/STORAGE OR "POTENTIAL" EXPANSION-VIEWS GALORE!

COME SEE THIS BEAUTY ON SUNDAY JUNE 29 FROM 1:00 TO 3:00 PM!

OFFERED @ $2,000K. FOR MORE INFORMATION CALL TANIA @ (203) 695-2544

HTTP://WWW.TEAMSHORELINE.COM

Open House Sunday August 10 in Guilford.....1:00 to 3:00PM

CT-Team Shoreline (Coldwell Banker Residential Brokerage) — Thu, 19 Jun 2008 12:31:46 -0500

Great condo living within walking distance of the Guilford Town Green. Pristine Knap Foundry end unit featuring:

PRICE REDUCED -- Offered @ $499,900.

Shakespeare on the CT Shoreline....

CT-Team Shoreline (Coldwell Banker Residential Brokerage) — Fri, 06 Jun 2008 08:15:27 -0500

This is a CT Shoreline Guilford program that presents free outdoor performances of classic theatre on the historic Guilford Green each August.

This year the production will be Much Ado About Nothing which has been adapted to a 1970s setting. The performance dates are August 7 - 10, 7:30pm. Stay tuned for more.

TeamShoreline

(203) 245-4663

http://www.teamshoreline.com

Why are home buyers still so reluctant?

CT-Team Shoreline (Coldwell Banker Residential Brokerage) — Fri, 06 Jun 2008 07:56:23 -0500

This is the best time in real estate to buy a home --
Interest rates are still low, inventory levels are high, and prices are stable.

So why are buyers still waiting?

The media with its continuous doom and gloom scenarios aren't helping. On the CT Shoreline we are seeing some pick up in activity, but homes going on deposit are still lagging. Many are trying to time the market and may be burned as a consequence.

What are you seeing in your markets?

TeamShoreline

(203) 245-HOME

http://www.teamshoreline.com

Direct Waterfront in Clinton, CT - $200K PRICE REDUCTION!

CT-Team Shoreline (Coldwell Banker Residential Brokerage) — Fri, 06 Jun 2008 07:29:50 -0500

Simply Stunning AND Just Reduced to $2,399,000 (a $200K price reduction)

Direct Clinton CT Waterfront, originally built in 1890 this totally remodeled colonial features some of the most magnificent water vews on the shoreline. Multi-story resort style decks surround the home,providing the perfect spot to watch sunrises and sunsets.

If you or anyone you know is interested in CT waterfront living call us at (203) 245-HOME or visit http://www.teamshoreline.com

1st floor master bedrooms

CT-Team Shoreline (Coldwell Banker Residential Brokerage) — Wed, 04 Jun 2008 09:30:24 -0500

My last two buyers only wanted to see homes with 1st floor master bedrooms ... yes they were early stage baby boomers. In our local market of Madison CT finding a home with a first floor master usually means a ranch or a cape style home and probably one that was built several years ago. ... in other words the supply is limited.

The "Over 55" active adult home that feature a first floor master bedroom has not really appeared here yet probaby due to high land prices. There is an outside developer trying to build one such development here in town called "Madison Landing" however they have been held up for several years up by a local community group siting environmental concerns. So it you want to live along the shoreline in Madison CT in a home/condo with first floor master the choices are unfortunately few.

I believe this is a every growing demographic where demand will continue to increase and more and more baby boomers reach post retirement years. Our town at least, seems to be behind the power curve serving this market segment ... I would be interested in hearing from others that have experience in this area.

Don Epperson

Team Shoreline

Madison CT closed sales YTD through May 31, 2008...

CT-Team Shoreline (Coldwell Banker Residential Brokerage) — Tue, 03 Jun 2008 07:04:58 -0500

This graph represents closed home sales in the $500K to $750K range in Madison, CT from January 1, 2008 to May 31, 2008. For additional information call us at (203) 245-4663 or go to http://www.teamshoreline.com.

There were 15 homes closed in this price range since the first of the year at a median sales price of $561.0K, a SP/LP ratio of 96.0% and DOM of 125 days.

Data Source: MLS Middlesex Shoreline Association of Realtors

CT Shoreline Home Sales Statistics - May 2008 (Source: MLS Middlesex Shoreline Assoc of Realtors)

CT-Team Shoreline (Coldwell Banker Residential Brokerage) — Tue, 03 Jun 2008 06:48:27 -0500

For additional information go to our website @ http://www.teamshoreline.com and click on "What's our market doing?" or give us a call at (203) 245-HOME. This information will be updated monthly in order for you to view home sales activity on the CT Shoreline, and posted both on the TeamShoreline and Active Rain web sites.

Woodmont Day, Milford CT.....

CT-Team Shoreline (Coldwell Banker Residential Brokerage) — Thu, 29 May 2008 18:16:48 -0500

Save the date: The 48th Annual Woodmont Day will take place this year on Saturday, July 26 at the Trubee Doolittle Park.

Lots of activities for the family, food and entertainment. Many of us love the area and look forward to spending this day with family and friends.

For more information: http://www.woodmontday.org

or call Tania @ TeamShoreline (203) 245-HOME.

Annual Milford Oyster Festival.....

CT-Team Shoreline (Coldwell Banker Residential Brokerage) — Thu, 29 May 2008 17:54:15 -0500

The 34th Annual Milford Oyster Festival will be held on Friday August 15, 2008 5pm - 9pm & Saturday August 16, 2008 10am - 6pm

The Oyster Festival has been a local favorite event that attracts Milford residents as well as out ot town visitors who want to enjoy the sights, sounds, tastes and history of Milford, Connecticut at a fabulous family-oriented festival.

If you are in the area at this time do make a point of visiting this event. For more information: http://www.milfordoysterfestival.org or http://www.teamshoreline.com

Sex and the City comes to Madison CT cinema.....

CT-Team Shoreline (Coldwell Banker Residential Brokerage) — Thu, 29 May 2008 13:39:56 -0500

For all of you local 'Sex and the City' fans the Madison Art Cinema located in downtown Madison CT on the Boston Post Road starts showings tomorrow, May 30th. The theater is old style and the atmosphere is great. Three showings daily. Check it out at http://www.madisonartcinemas.com

For more info: http://www.teamshoreline.com

Having a home staged is important in today's challenging market.....

CT-Team Shoreline (Coldwell Banker Residential Brokerage) — Thu, 29 May 2008 10:30:13 -0500

In today's challenging real estate market, REALTORS who are also home staging specialists help homeowners market and showcase their homes for maximum impact to potential buyers.

Research has shown that properly staged homes sell for 5% more on average than non-staged homes and sell approximately 2-3 weeks faster.

Armed with an increased awareness of the principles of staging, real estate professionals who are also specialists in home staging are immediately able to better serve their current and prospective home sellers. These professionals have the tools to be able to assess a homeowner's property and then stage that property to maximize appeal and thus speed the sales process, often with minimal financial expenditure.

For information on how the benefits of staging might help sell your home, contact Tania Stetinin @ TeamShoreline.

http://www.teamshoreline.com

(203) 245-HOME

Save the Date -- Madison CT July 4 Fireworks.......

CT-Team Shoreline (Coldwell Banker Residential Brokerage) — Thu, 29 May 2008 08:29:04 -0500

MADISON CT ANNUAL JULY 4TH FIREWORKS:

WHEN: Thursday, July 3, 2008 @ 9:30 PM

WHERE: Launch off of barge on West Wharf Beach

The Madison CT fireworks should be viewable from most shoreline locations in Madison. The "Surf Club" provides excellent views of the fireworks and plenty of room for the entire family.

Shuttle service will be provided starting at 6PM from Stop and Shop and the Exit 61 commuter lots.

Come join us for this great annual event.

You can go directly to http://www.madisonfireworks.org for any updates, rain date, etc. or contact Steve Adkins at (203) 245-4663.

See you on the 3rd!

Branford, Guilford, Madison CT Luxury (over $1million)Home Sales 2008 YTD....

CT-Team Shoreline (Coldwell Banker Residential Brokerage) — Wed, 28 May 2008 05:52:57 -0500

The above graph represents closed sales and on deposit properties over $1 million in the towns of Branford, Guilford, and Madison CT as of January 1, 2008. Of the 22 total properties, 13 properties closed since the first of the year.

The average DOM for the closed properties is 151 days, the SP/LP is 92%, and the average sales price is $1.691 million.

During the same time period 2007, 24 properties closed with an average DOM of 140 days, with an average sales price of $1.521, and a SP/LP of 89%.

For more information go to http://www.teamshoreline.com or call us at (203) 245-HOME.