Homebuyer Tax Credit

by Kim Wood on December 14, 2009

What a great time to think about purchasing a new home! I’m sure you’ve heard about the expanded and extended home buyer tax credit… but is it still a little bit confusing ?

Here are some helpful questions and answers to get the information straight….

WHAT IS THE AMOUNT OF THE TAX CREDIT ?
For first time home buyers, the maximum amount of credit available is $8,000.
For existing home owners, the maximum amount of credit available is $6,500.

WHAT IS THE DEADLINE ?
You need to have a contract on a home by April 30, 2010 and settle on the home by June 30, 2010.

HOW  ?
The incentive is a refundable tax credit (up to 10% of the purchase price).

DO I HAVE TO PAY IT BACK ?
No.  If you occupy your home for three years, you will not have to pay back the credit.  However, if the property is sold during this three-year period, the full amount of the credit will be recouped on the sale.

WHO QUALIFIES ?
As a first time home buyer, you or your spouse must not have owned a residence during the three years prior to the purchase (settlement).
As an existing home owner, you must have used the home being sold or vacated as a primary residence for five consecutive years within the last eight years.

WHO CANNOT TAKE THE CREDIT ?
You may not take the credit if any of these apply:  Your income exceeds $145,000 (single) or $245,000 (joint) per year, you stop using your home as your main home, or you buy your home from a close relative (spouse, parent, grandparent, child, or grandchild).

HOW DO I FILE FOR THE CREDIT ?
You can claim your credit on your 2009 return if you purchased your home in 2009. If you purchased your home in 2010 you can either claim the credit on your 2009 return, file an amended 2009 return (if your purchase is completed after 4/15/10), or claim the credit on your 2010 tax return.

WHO DO I ASK FOR HELP ?
Contact The Kim Wood Team to help you find a home and get you the resources you need to find your home! We can be reached via email or phone at (610) 692-6823 Direct or (610) 692-2228 Reception.

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Holiday Decorating

by Kim Wood on December 13, 2009

Winter is Here!

It’s fun this time of year to drive around the neighborhoods in Chester County and see the different ways people have chosen to decorate for the winter season. Many hang lights – some like colored, and some like white…..  some like one color and some light multi…..  and there are plenty that like those blow ups for the yard too.

If you have the “talk of the cul-de-sac” around….  take a picture and send it to us – we’d love to include it on here – and won’t include the address for security :)

New House for Decorating

When people move into a house, it’s fun to decide where to put the tree or the special Menorah. It seems like, in my family anyway, year after year the decorations happened to land in the same ‘ole spot each time they were pulled from the boxes. Who is celebrating their first winter in their new home?  Shout outs to…..

  • Two families on Aberdare Lane
  • Three families on Caernarvon Court
  • Three families on Carmarthen Court
  • Three families on Conway Court
  • One family on Gwynedd Court
  • One family on Llandovery Drive
  • Two families on Merioneth Drive
  • Two families on Neyland Court
  • Two families on Penwyllt Court
  • One family on Snowden Court
  • Five families on Towyn Court  … and there might be more settlements by the end of the year still :)

Holiday decorating gets me thinking about hot chocolate… and cookies…  if you’d like to celebrate winter at a new place for 2010 – give The Kim Wood Team a call at (610) 692-6823 or Email us.

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Home Sales in Rhondda

by John Lauber on December 13, 2009

UwchlanTownshipTownhomeStats

Are homes selling in Rhondda

Are home selling in Rhondda and in Uwchlan township? The answer, as shown in the chart (click it to make it larger), is a resounding, YES. The average for the past year, in the township, is 8 homes per month. With residual inventory down 50%, since November, 2007, and under contract listings staying relatively even, the township in this range is looking 3.5 months of inventory. Compared to Chester County as a whole (12 months of inventory), that’s awesome news for buyers and sellers in this range. A “normal” range is from 5-8 months of inventory, so it’s leaning towards a a seller’s market, currently.

More Specifics

But what about the Rhondda community itself. Well, just check the spreadsheet below:

As you can see, homes are selling in Rhondda with the average sold price around $225,000 and the average days on market is around 52 days since June, 2009. Homes are selling, on average, about 97% of list price, for properly priced homes. The spreadsheet above can always be found by clicking the “Sold Listing” tab above. It will be updated on a regular schedule so you can stay up to date on the community. Please check there on a regular basis.

Have questions about your unit in Rhondda? Feel free to contact us. We’ll be happy to help!

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Rhondda Community Location

by Kim Wood on December 13, 2009

You can’t beat the location of the homes in the Rhondda Community – talk about a great location ! If you are a commuter, you can access the Pennsylvania Turnpike (Downingtown Access), Route 202, Route 100 and quickly reach Philadelphia, Delaware, Great Valley, and so much more!  If you like to shop, you have The Colonial Shops within walking distance – and you’re a hop, skip and a jump to the Exton Square Mall !


View Larger Map

As you can see…. Rhondda Townhomes in Exton within Chester County has a great location to brag about !

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Rhondda Community sign

Welcome to Rhondda

by John Lauber on December 13, 2009

Welcome to this Rhondda Community website. A web site we hope YOU, as member of the community, would like to be involved. Our goal, with this site is to provide you with information about your community and the surrounding area.

How Can You Help?

We would like to have you, as contributors, to this site. If you feel you have a writing bent and would like to chat up the community, let us know by email. Don’t feel like writing, email us anyway, and let us know what information you would like to see! We take suggestions (and criticism) really well. We want to be sure we’re providing you with the information you need as a resident of Rhondda.

We look forward to hearing from you!

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