Top This! BGreen Needham

I love first time buyers. It is a pleasure to help them through the process until find their first home for the joy that comes with that.

Selling Homes & Tax Rules

Well it is tax season and I thought it would be a good time to talk about selling houses.  The law changed about ten (10) years ago and you no longer roll the profit from previous homes.

A few rules to follow to exclude $250,000 of gain as a single person and $500,000 married filing jointly.

1.  During the (5) year period ending on the date of sale, you must have owned the home for a least 2 years.

2.  During that same five year period, you must have lived in the home as your main residence for at least two (2) years.

3.  If you must sell your home for any unforeseen reason, health issues or you are transferred out of area will still be entitled to a partial credit.

To determine the amount of your gain, start with the total purchase price of your home including closing costs and add any major improvements that you made to your home -- not cosmetic, like new paint and carpet but improvements, new concrete, upgrading the furnace or roof, room additions, etc. -- and subtract from the net selling price of the house.  The net selling price is the price less any closing costs you have to pay.

My information came from my CPA  SSC Services, Inc, 2190 NW 82nd St., Suite 4, Clive, IA 50325
                                                     http://www.sscservices.com

Pat Baker, Realtor(R), ABR (R), GREEN(R)
Coldwell Banker Residential Brokerage
1 Chapel Street, Needham, MA 02492
(C) 671-435-3471 (O) 781-444-7400 (V&F) 781-446-8697
Search for home in Massachusetts

Tips For Current Homebuyers

The demand for home is about to happen this spring for sure and actually already has which is evidenced by the attendance at open houses by buyers each week.

We have entered the spring market and the rates are the lowest in years along with the $8000 first time buyer tax credit which does not have to paid back if the home owner lives in that home for at least 3 years.  Download The Time is Now (consumer) - Version A

There are 9 tips below but I have this recommendation to make too:  Be sure to get your pre-approval done.  There are 2 reasons for this: 1) You will know the price range you should be looking in 2) So that when you do see something you want to purchase you will be ready with your pre-approval letter.

Below are 9 tips a buyer could be moving in to their home soon.

1.  Cash is king - With down payment increases from FHA and Fannie Mac, cash has more buying power than before.
2.  Negotiate everything. Home sellers will be offering more incentives to sell their home quickly.  Consider asked for  seller paid closing costs, property taxes, and home association fees.
3.  Save for down payment. Set up a budget and include savings.  The ideal goal is for 20% down on your new home.
4.  Determine how much home you can afford.  Understand what you would like to your monthly payment to be before finding out what amount you qualify for.
5.  Improve your credit score.  Check your credit report for reporting errors, pay your bills on time, and do not cancel or close any open accounts.
6.  Research the local housing market.  As you work with your local Realtor, seach on line to find out how long homes have been on the market and what they have sold for.  The more you know, the better off you are in negotiating your purchase.
7.  Watch for certain neighborhoods.  A Realtor knows the area which can be a real asset.
8.  Consider foreclosed homes. With the number of foreclosed homes on the market banks should be eager to sell.  If you do consider foreclosed homes be prepared to wait because the wait time is longer for an answer back from the bank.
Look ahead.  If you don't qualify for a mortgage today continue to watch the market and keep up your savings.
Source: some  - Bankrate.com

Pat Baker, Realtor(R), ABR (R), GREEN(R)
Coldwell Banker Residential Brokerage
1 Chapel Street, Needham, MA 02492
Search for home in Massachusetts

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Real Estate stuff, local Needham stuff, fun and events in the MetroWest area.

The Wall That Heals Will Stop in Needham, MA

The Traveling VietNam Veterans Memorial

http://www.vvmf.org/

Memorial Park, Needham, MA

October 30 - November 2, 2008

Open to the Public 24 hours a day

Free of Charge

Sponsored by:

Town of Needham Board of Selectmen & Memorial Park Trustees

Lt. Manson  H. Carter VFW Post 2498

Schedule of Events                 Opening Ceremony        Thursday October 30, 2008

Master of Cermonies, John Logan, Veterans Agent

Posting of Colors - Needham Police Department Honor Guard      

                              Needham Fire Department Honor Guard

National Anthem and Other Patriotic Selection-  Pollard Middle School Treble Choir, Under the Direction of Cassandra Peterson

Pledge of Allegiance, Needham Girl Scouts & Needham Boy Scouts

Welcome & Introduction

   James G. Healy, Chair Board of Selectmen, Charles Mangine, Memorial Park Trustee

Guest Speaker

   Thomas Kelly, MA Secretary of Veterans Svcs. & Congressional Medal of Honor Recipient

Laying of Wreaths

   American Legion Post 14, Veterans of Foreign Wars Post 2498

Reading of Needham Servicement Names, Tony Cefalo

Benediction, Reverend John Buehrens

Taps

2:00 pm                                                                                        Friday, October 31, 2008

Master of Ceremonies, Vire Department Veteran

Names of Massachusetts Servicement Read

Benediction, Reverend Heidi Fieldston

Taps                                                                    

   

The Three Servicemen                  Vietnam Women's

                                                            War Memorial

12:30 pm                                                                                          Saturday, November 1, 2008

Master of Ceremonies, Thomaqs Leary, Needham Police Chief & Vertera

Posting of Colors - American Legion Post 19 Somerville & Boston Military Pocessing Station

National Anthem

   Detective Sergeant Pauline Carter Wells, Cambridge Police Department

Plege of Allegiance - Needham Girl Scouts & Needham Boy Scouts

Flyover - UH (Huey) Det 1 Med Co (Air Ambulance) RI Army National Guard

Guest Speaker

    Lieutenant General Ted F. Bowids - Commander, Electronic Systems Center Hanscom Field

    Lieutenant(I.g.) Thomas J. Hudner, US Navy, Congressional Medal of Honor

    Kevin O'Connor, Director of Veterans Vervices Tyngsborough

"To the Wall They Came" by Trish Sullivan

Benediction Reverend Caroline Edge

Taps

2:00 pm                                Closing Ceremony                 Sunday, November 2, 2008

Master of Ceremonies

     Tom Keating, Commander, Veterans of oreign Wars Post 2498, Needham

Posting of Colors 

     Boston University AFROTC Det 355

National Anthem and other Patriotic Selections

     Needham High School Marching Band, Gerard Gagnon

Pledge of Allegiance, Needham Girl Scouts & Needham Boy Scouts

Welcome - Co-Chairs The Wall That Heals Committee

     John Bullian, Board of Selectmen, Dave DiCicco, Memorial Park Trustees

Remarks

     Senator Scott Brown, Representative Lida Harkins, James G. Healy, Chair Needham Board of Selectmen,  Ron Sockol, Chair Memorial Park Trustees

Guest Speakers

   Bryan O'Brien, VFW National Sergeant of Arms will introduce

   Paul A Spera, Vietnam Veteran, Past Commander in Chief, VFW

Benediction, Rabbi Jay Perlman

Bagpipers, Massachusetts State Police

Taps

The graphic was designed for this event by Charles Wright.

Special Thanks to Tony Cefalo who in 1984 donated the land on Sunset Road to the Town as the location for Vietnam Veteran's Memorial for those veterans who gave their lives during that war.

Mary - Should Have been named "One in a Million"

My friend Mary is truly a them-them person.  For as long as I have known her she has been a listener.  That is why people like to be with her and love her so much.  She has been there for us for all the years we have lived in our home since December of 1971.

Through the years as our children grew she would be like another mother to our one an only child.  I would travel for work and ministry and Mary would take Chris for as  long as a week.  She opened her backyard to all of the children in the neighborhood for the pleasure of going in her pool.  She is still opening her home and pool to her grandkids and some young neighbors.

Numerous times she has been the one to pick up mail while a neighbor was away.  When we have gone away she would come over and turn on the lights for us along with making sure we had some milk and bread for our return.

While our son was recovering from a bone marrow transplant she took me to the hospital so many times to save on parking fees that were staggering amounts.  Some nights she would come in and get me in Boston with her dog Jada.  Not only did she pick me up but she would stop and buy coffee and something else.  Jada would make me laugh because she enjoyed the stops at Dunkin Donuts because she would get a cookie and try to drink the coffee.

While our son Chris was recovering we had the house painted and once again Mary was there to help and I have to mention her husband who has worked along side my husband doing lots of work on our house.  My husband and I have reciprocated back and forth but I just don't that anyone is a giver like Mary.

I have been there for her too.  I truly do not think that anyone has been as self-sacraficing.  She took care of both of her parents who lived well into their 90's and now she is takes care of her aunt.

She never wants any recognition for what she does but I did send the local newspaper a note of thanks to Mary.

She was raised to think of others especially neighbors.  She has made her parents proud.  She doesn't forget a birthday or an event.  One card is not enough.  She has brought food when we have lost loved ones and gone above and beyond.  It would be very hard to move away from this wonderful friend because sometimes we think about downsizing but how could we move?

Mary - One In  A Million.  Loved by all.  Thank you eternally.

Come for the Fun 10/4/08 Needham, MA

October 4, 2008 - On the Needham, MA Town Common from 10:00 am to 3:00 pm

This is the best event sponsored by the Needham Business Association.  Every year is a pleaser.  There is so much to do and see.  The Needham Town Common is literally transformed into a beautiful fall affair.  There is entertainment and a wide variety of tables richly displayed with a showcase of products and services.  There are hayrides, childrens' activities, pony rides and just a whole lot of fun.

You can join in the fun of tasting the assortment of 14 different soups prepared by the local purveyors.  For a "spoon fee" you can make the difficult choice of which one to vote for. 

This is an event that will warm you up in lots of ways besides the soup.  It is a perfect weekend for having fun and let the fun begin on October 4th in Needham.

Written by: Pat Baker, Licensed Real Estate Broker/Agent with Coldwell Banker Residential Brokerage- 617-435-3471  Needham's Real Estate Expert