Brooklyn Real Estate Q&A and Info

Brooklyn First Time Home Buyers

If you buy a new home (house, coop or condo) in 2009, and close on or before December 1, 2009, you may qualify for an $8,000 tax credit.

The tax credit is a dollar-for-dollar reduction in what a taxpayer owes in taxes. For example, if you owe $8,000 in income taxes and you are eligible for the full $8,000 home buyer’s tax credit, you would owe absolutly nothing in federal taxes.

Here’s what you have to do to qualify:

1. Be a First Time Home Buyer – The definition of a first time home buyer which is being applied for this tax credit is someone who has not owned a principal residence in the past three years.
2. It Must be Your Principal Residence- Any type of home that can be used as a principal place of residence qualifies, that includes condos, coops and condops.
3. Your Income Matters – In order to qualify for the full $8,000 tax credit, a single taxpayer cannot have a modified adjusted gross income (MAGI) of more than $75,000. Married taxpayers filing jointly cannot have a MAGI of more then $150,000. For taxpayers with higher incomes than the maximum, the tax credit is reduced. Once your MAGI reaches $95,000 or more for single taxpayers, and $170,000 or more for married taxpayers, the credit is phased out completely.

Free money does not come along often. If you’re thinking about purchasing your first home, now is a great time to do it. For more information about the tax credit, please feel free to give me a call at 917-544-2662 or go to www.federalhousingtaxcredit.com.

Are you a first time home buyer who would like to know more about the house buying process? Would you like to learn how you can benefit from the $8,000 tax credit? Do you want to get pre-approved for a loan for FREE?

Then come to the free First Time Home Buyer’s Seminar that is taking place at Weichert HP Greenfield’s Utica Avenue Office as follows:

Sat, March 28, 2009 at 12:00 Noon
Wed, April 1, 2009 At 7:00 pm

Weichert Real Estate
1712 Utica Avenue
Brooklyn, NY
Btw Avenues H and J

If you can’t make the seminar, feel free to give me a call or send me an email and I will be more then willing to give you a one-on-one seminar at your convenience.

Well, its that time of year again.  Its the start of “Day Light Savings Time” and on Sunday, March 8 at 2 AM you need to turn your clock ahead one hour.

Its also a good time to check the batteries in your smoke alarm and your carbon monoxide alarm.  Better safe then sorry.

I had the opportunity to show two really great apartments to a client, a wonderful women who’s company I enjoy, that are for sale at Willoughby Walk Coops in Clinton Hill Brooklyn. 

I like the complex and the apartments so much that it has prompted me to write this little update about the coop.

Pros:

The lobbies in the coop are very well maintained, the hallways are beautifully carpeted and painted, and the elevators seem like new.  The laundry room is spacious, clean and has a good number of washers and dryers of various sizes.  Add 24 hour security, good financials and location, location, location, and Willougby Walk falls at the top of my list of the best places to live in Brooklyn.  You can get a great 1 Bedroom for between $250,000 to $300,000.   Maintenance payments are typical for Clinton Hill, which is between $600 and $700 a month.

Cons:

Like most things in life, there are cons, but they are not deal breakers in my opinion.  The main con I can think of is that the kitchens tend to be on the small side, but if you’re not much as of cook, that’s probably irrelevant.  The other con is that most apartments have no designated dining are to speak of.  If you don’t usually have a lot of sit down family meals, that’s not much of a con either.

Wrap-up:

Over all, I like Willoughby Walk Coops a lot.  If you’re looking to move to Brooklyn and want to live in Clinton Hill, a neighborhood I also like a lot, then the Willoughby Walk Coop is a great place to consider. For more information about the coop and its amenities, click here!

Want to see an apartment or two. Give me a call or send and email me.