Month: January 2012

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Open Houses: Saturday and Sunday, January 14-15, 2012

There are many, many open houses this weekend!!! The following properties will be holding open houses in the Brandywine Hundred, North Wilmington, Newark, Hockessin, Pike Creek, Newark, Bear, and Middletown, Delaware areas on Saturday and Sunday, January 14-15, 2012:

Can’t make the open house? No problem! Contact Brian Doreste today at 302-753-6398 to schedule your own private showing.

The most current open house list for New Castle County, Delaware can always be found at: http://deerhurst.net/category/upcoming-open-houses/, and is usually published every Thursday morning.

5929651 $380,000 108 Miners Ln Newark DE Academy Hill
5980193 $309,900 415 Arbour Dr Newark DE Arbour Park
5967838 $187,900 103 W Newtown Pl Newark DE Barrett Run
5950722 $275,000 808 Arthur Springs Ln New Castle DE Bayview Manor II
5840651 $199,900 104 S Clifton Ave Wilmington DE Brack-ex
5921119 $199,900 4403 Washington Blvd Wilmington DE Brandywine Hills
5890094 $229,500 2807 Herbert Dr Wilmington DE Brandywine Springs
5961563 $279,900 2618 Majestic Dr Wilmington DE Brandywood
5978504 $269,900 3 Jasmine Dr Bear DE Brennan Estates
5988502 $310,000 25 Dunleary Dr Bear DE Brennan Estates
5982858 $189,900 19 Marlin Dr Newark DE Brookside
5979435 $299,999 14 Cannon Run Newark DE Cannonshire
5943758 $329,999 112 Veronica Ln Bear DE Caravel Cove
5912446 $349,900 1204 Hillside Blvd Wilmington DE Carrcroft
5931458 $389,900 1204 Bruce Rd Wilmington DE Carrcroft
5990114 $400,000 2011 Weatherton Dr Wilmington DE Chalfonte
5988442 $335,000 2419 Chatham Dr Wilmington DE Chatham
5979933 $249,900 21 N Church Rd Newark DE Christine Manor
5949146 $249,900 27 Green Meadow Ct Newark DE Country Hills
5964773 $85,000 601 Madeline Ct Newark DE Creekside
5973186 $219,900 2006 Dell Ln Wilmington DE Delaview Manor
5951142 $197,000 218 Belmont Ave Wilmington DE Elmhurst
5982546 $99,900 244 Filbert Ave Wilmington DE Elsmere Manor
5983360 $289,900 2204 Beaumont Rd Wilmington DE Fairfax
5902481 $419,900 29 Hempstead Dr Newark DE Farmington
5966218 $299,900 1102 Greenway Rd Wilmington DE Forwood
5981792 $259,000 1007 Crestover Rd Wilmington DE Graylyn Crest
5939990 $179,999 423 Tamara Cir Newark DE Harmony Hills
5987950 $599,000 1402 Clinton St Wilmington DE Highlands
5968843 $199,900 323 Marsh Rd Wilmington DE Hillcrest
5973032 $263,500 68 Lochview Dr Bear DE Kensington
5978445 $199,900 4631 Bailey Dr Wilmington DE Limestone Acres
5976333 $284,900 10 Hialeah Ct Wilmington DE Limestone Hills
5980440 $129,900 1911 W 9th St Wilmington DE Little Italy
5884948 $189,900 230 Schafer Blvd New Castle DE Llangollen Estates
5837905 $229,000 1109 Stonewood Ct Wilmington DE Longview Farms
5986942 $209,900 8 Lynam Pl Wilmington DE Lynford
5947211 $329,900 7 Edinburgh Ct Newark DE Meadowdale
5896555 $488,900 654 Salem Church Rd Newark DE Millers Reserve
5899237 $454,000 662 Salem Church Rd Newark DE Millers Reserve
5899240 $559,000 676 Salem Church Rd Newark DE Millers Reserve
5899241 $429,000 650 Salem Church Rd Newark DE Millers Reserve
5982022 $275,000 413 Apple Rd Newark DE Newark
5985593 $149,900 303 Palmerston Ct Newark DE Newtowne Village
5902563 $299,900 845 Yorklyn Rd Hockessin DE None Available
5976588 $349,990 304 Friedman Dr New Castle DE Northern View
5976602 $379,900 306 Friedman Dr New Castle DE Northern View
5981159 $495,999 105 Love Ct New Castle DE Northern View
5949100 $369,900 203 Stonecrop Rd Wilmington DE Northminster
5989496 $249,900 2513 Garfield Ave Claymont DE Northridge
5961607 $249,750 119 Harmony St New Castle DE Old New Castle
5973377 $299,900 201 Harmony St New Castle DE Old New Castle
5980576 $549,000 223 E 2nd St New Castle DE Old New Castle
5964688 $145,000 32 Paladin Dr Wilmington DE Paladin Club
5961517 $579,000 1100 Lovering Ave 1806 Wilmington DE Park Plaza
5983904 $349,900 709 Idlewyld Dr Middletown DE Parkside
5974504 $222,500 2 Washington Ct Newark DE Pencader Village
5977963 $340,000 265 Sugar Pine Dr Middletown DE Pine Valley Farms
5937135 $205,000 313 Derose Ct Bear DE Porter Square
5964520 $169,900 32 Miles Rd Claymont DE Radnor Green
5990738 $277,500 38 Palo Ln Newark DE Reserve/ironside
5987929 $190,000 10 Riverside Dr Wilmington DE Riverside Gardens
5985154 $125,000 312 Taylor Rd Wilmington DE Rosemont
5989573 $622,250 4 Hedgerow Pl Greenville DE Sedgely Farms
5985479 $189,900 2 Glenside Ave Wilmington DE Silview
5989905 $393,500 4 Staten Dr Hockessin DE Stuyvesant Hills
5959831 $274,900 18 Currant Dr Newark DE Summer Hill
5886746 $365,000 2609 Kimbrough Dr Wilmington DE Talley Farms
5986647 $269,990 305 Braemar St Middletown DE The Ests At St Annes
5986668 $339,990 9 Lomond Ln Middletown DE The Ests At St Annes
5986677 $289,990 312 Braemar St Middletown DE The Ests At St Annes
5986701 $294,990 318 Braemar St Middletown DE The Ests At St Annes
5982349 $369,500 103 Sheehan Dr Middletown DE The Legends
5981030 $360,000 1011 W Founds St Townsend DE Townsend Village Il
5983255 $580,000 5 Aldrich Way Wilmington DE Westhaven
5991174 $3,250,000 1007 Barley Mill Rd Greenville DE Westover Hills
5975993 $269,900 1325 Richards Aly Wilmington DE Wilm #11
5968862 $449,000 1003 N Bancroft Pkwy Wilmington DE Wilm #13
5925717 $139,900 18 Yale Ave New Castle DE Wilm Manor Gardens
5936836 $294,900 1600 Tudor Pl Wilmington DE Windybush
5881503 $189,900 520 Becker Ave Wilmington DE Woodcrest
5919779 $189,900 3 Troy Ave Wilmington DE Woodcrest
5977994 $134,900 10 Stevenson Way Newark DE Woodland Trail
5980558 $339,000 521 Woodside Ave Wilmington DE Woodside Hills
5985798 $209,900 359 Greybull Dr Bear DE Wrangle Hill Est
5986794 $899,900 210 Wynleigh Dr Wilmington DE Wynleigh
5823820 $250,000 2318 Patwynn Rd Wilmington DE Wynnwood

Come out and see these houses this weekend!

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Top 5 tax breaks for homeowners

REThink Real Estate

By Tara-Nicholle Nelson
Inman News®

Q: We bought a house this year! We put $33,000 down and the bank financed $28,000. Can I write this off on my 2011 taxes? How much of it?

A: First things first: Congratulations! You’ve become a homeowner, and seem to have done so using an enviable financial arrangement. But now that you own a home, you might need to shift the way you think and look at some things, including your taxes and other financial matters.

Owning a home is one of those landmarks that signify financial adulthood. And one of the things that responsible financial adults do is get professional help when the situation requires it. Taxes are one of those areas that often do warrant calling the pros in.

I’m not just shilling for the tax prep industry here, either: The ultimate aim of using a tax professional is to make sure you get every deduction, credit and other tax advantage for which you qualify, without jacking up your chances at triggering the universally dreaded Internal Revenue Service audit by claiming dubious deductions.

Your mortgage debt is fairly small, as was your home’s purchase price, though I don’t know whether they are large or small in the context of your overall financial picture (i.e., income, assets, investments, etc.).

The fact that you saved or somehow came up with such a sizable chunk of change to put down makes me hesitate to assume that your finances are as simple as your mortgage balance might otherwise lead me to believe.

So, it might be the case that you can easily handle your own taxes — in fact, it’s even possible that your real estate-related deductions won’t even outweigh the standard deductions, so that filing a simple form without even itemizing your deductions is actually the financially advantageous move.

Whether that’s the case cannot be determined in a vacuum — you may have other financial and tax issues going on. But with software and tax preparation services as inexpensive as they are, starting at under $20 for simple returns, I think it behooves you to get some professional advice and ensure you get the deductions you need.

Hiring a tax preparer might be a worthwhile investment to make, even if just this year, so he or she can brief you on what records you should keep and strategies you should do moving forward, like home repair and improvement receipts, or documentation of your use of an area of the home as a home office.

Now, let’s talk more substantively about the deductions that are available to you, in the event you do decide to itemize your taxes (IRS Publication 530 offers a more nuanced view into Tax Information for Homeowners):

1. Mortgage interest deduction. Assuming this home is your personal residence, 100 percent of the mortgage interest you owe and pay before Dec. 31, 2011, is deductible on your 2011 taxes. In January, your mortgage lender will send you a form documenting the precise amount of interest you paid, although most lenders also now make this form immediately available to borrowers online.

Chances are good that you paid some amount of advance interest on your home loan at closing — expect to see that on your statement from your lender, but you should also be able to find it on the HUD-1 settlement statement you received from your escrow agent at closing.

2. Property tax deductions. Again, assuming that this is the home you live in most of the time, you should be able to deduct 100 percent of the property taxes you’ve paid to your state and/or local taxing agency this year.

3. Closing-cost deductions. Discount points and origination fees paid to your mortgage lender and/or broker at closing are frequently deductible, but there are rules around this, which tax software and/or professionals can help you make sure you meet. Also, state and local transfer or stamp taxes paid at closing are generally deductible on your federal returns.

Beyond these basics, there are various home improvements (especially those that increase your home’s energy efficiency), state and local tax credits for buying a foreclosure, and other tax advantages that might be available to you.

My advice is to work with an experienced, local tax preparer or, at the very least, use reputable tax preparation software to ensure that you get the maximum tax advantages available to you as a result of your new role as a homeowner.

Tara-Nicholle Nelson is author of “The Savvy Woman’s Homebuying Handbook” and “Trillion Dollar Women: Use Your Power to Make Buying and Remodeling Decisions.” Tara is also the Consumer Ambassador and Educator for real estate listings search site Trulia.com. Ask her a real estate question online or visit her website, www.rethinkrealestate.com.

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