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Ray Delao (Home Foundations LLC) Real Estate Agent

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74,037

Ray Delao
location_on Grayslake, IL — Home Foundations LLC
Get to Know Ray Delao

                         

                                                         Our Office address is 

 Founddation Homes LLC  

Rt 120 and Atkinson Grayslake, IL 60030

 Direct Line224-4360026 Fax: (847) 553-4165                                  

                                                                     28 Step Marketing Plan

                                                                                                  Find out what it is!

                                                              Contact me at ray@raydelao.com

                                                                                                        One More Thought

         Client vs. Customer

 

 

If You Are My Client I Have Fiduciary Duties:

 

•A.     Undivided Loyalty - I Have To Work Solely In Your Best Interests

•B.     Obedience - I Have To Seek Out, And Obey, Your Lawful Instructions, Not Exceeding The Scope Of Authority You Give Me.

•C.     Reasonable Care & Diligence - I Have To Protect You From Foreseeable Risks & Harm, And Recommend You Obtain Expert Advice Or Assistance When Your Needs Are Outside The Scope Of My Expertise

•D.    Confidentiality - I Cannot Communicate Key Personal Information About You, Unless You Authorize Me To Do So.

•E.     Full Disclosure - I Have To Disclose All Information To You About The Transaction Which May Affect Your Best Interests

•F.      Accounting - I Must Account For All Moneys Or Property Held On Your Behalf

•G.    Advocacy - I Must Act As Your Advocate

•H.    Inform - I Must Inform You Of Any Available Property, Regardless Of Fee Or Commission Payable To Me.

•I.        Price - I Must Not Misrepresent To You The Market Value Or Likely Purchase Price Of Any Property

  

  

If You Are My Customer, I Have Responsibilities:

 

•A.      Honesty - Don't misrepresent

•B.      Fairness - Explain the difference between customer and client

•C.      Accounting - I Must Account For All Moneys Or Property Held On Your Behalf

•D.      Reasonable Care & Diligence - Obey all laws pertaining to transactions

  

There is a huge difference in the level of service that I can provide to you if you are my customer or my client. I would be happy to discuss this further, at your convenience. And,

THEY BOTH COST THE SAME!!!

Tax Credit What You Should Know about the First-Time Homebuyer Tax Credit The American Recovery and Reinvestment Act of 2009 features $8,000 first-time buyer tax credit for first-time buyers who purchase a home on or after Jan. 1, 2009 and before Dec. 1, 2009.  The temporary credit is only available for home purchases made from Jan. 1, 2009 to before Dec. 1, 2009 and is equal to 10 percent of the cost of the home, up to a maximum credit of $8,000. (For example, a home purchased for $80,000 or more would qualify for the full $8,000 credit while a $70,000 home would only qualify for 10 percent, or $7,000). Buyers claim the credit on their federal tax return to reduce their tax liability. If the credit is more than the taxes owed, the buyer will get a refund check for the difference. Only first-time homebuyers can take advantage of the tax credit. A first-time buyer is defined under the tax credit as an individual who has not owned a home in the last three years. Eligible properties include anything that will be used as a principal single-family residence – including condos and townhouses. There are income guidelines on the credit. Individuals with an adjusted gross income up to $75,000 (or $150,000 if filing jointly) are eligible for the full tax credit. The credit is phased down for those earning more and is not available for those with an income above $95,000 (or $170,000 if filing jointly). The new tax credit does not have to be repaid if the buyer stays in the home at least three years. But if the home is sold before that, the entire amount of the credit is recaptured on the sale. People who purchased homes under last year’s $7,500 tax credit will still be required to repay that credit to the government over a 15-year period. The latest economic stimulus package also reinstates higher loan limits on the popular Federal Housing Administration (FHA) loans as well as conforming mortgage loans through Fannie Mae or Freddie Mac until the end of 2009. Loan limits had dropped in some markets at the beginning of 2009, but the economic stimulus plan temporarily raises them, giving people more buying power when looking for a home.   [Update Nov 2009] Following Congress approval, President Obama has signed off on the bill approving an extension of the $8,000 new home buyer tax credit until April 30th 2010. Also, the new provisions in the extension are NOT retroactive. Here is a summary of the new and updated provisions and their impact on you if you have or are planning to buy a house:- Qualification Period : First-time home buyers who bought after January 1, 2009 and before April 1 2010 (with closing to take place before July 1), would get the $8,000 home buyer tax credit. For the purposes of claiming the tax credit, the purchase date is the date when closing occurs and the title to the property transfers to the home owner. This is an update from the original November 30th 2009 deadline. If you and your spouse claim the credit on a joint return (both of you must meet the income and past ownership criteria to qualify), each spouse is treated as having been allowed half of the credit for purposes of repaying the credit. So the total amount claimable is still only $8000 (up to April 30th 2010). - Income qualification limits: The home buyers' credit would be available to individuals with a modified adjusted gross income (MAGI) of up to $125,000, or $250,000 for couples, up from $75,000 for individuals and $150,000 for couples under the original rules. The higher income limits are only for homes purchased after Nov. 6, 2009. That is, the existing MAGI phase-outs of $75,000 to $95,000 or $150,000 to $170,000 for joint filers still apply to purchases on or before Nov. 6, 2009. Those with incomes higher than the above limits do not qualify for any part of the tax credit. - *NEW* Current Homeowners looking for a replacement primary residence could also qualify for a $6,500 (up to $3,250 for a married individual filing separately) under the new "long-time resident" provision. They must have lived in the same principal residence for any five-consecutive year period during the eight-year period that ended on the date the replacement home is purchased. This new provision also only applies to homes purchased after Nov. 6th 2009.- Claiming the new home buyer credit: For qualifying purchases, taxpayers have the option of claiming the credit on either their 2009 or 2010 return. A new version of Form 5405, First-Time Home buyer Credit, is available on the IRS website. Taxpayers claiming the credit on their 2009 returns, will not be able to file electronically but instead will need to file a paper return by using the new version of Form 5405. A taxpayer who purchased a home on or before Nov. 6 and chooses to claim the credit on an original or amended 2008 return may continue to use the current version of Form 5405.   - The new $8000 credit can be used towards the down payment of a house bought in the credit qualifying period. You need to work with your lender to take advantage of this provision. - Tax Credit Exclusions: Homes that cost more than $800,000 aren't eligible for the credit and you must be over 18 years old to claim the credit (dependents are not eligible to claim the credit either). Those who sell their new home or stop using it as their main residence within three years would have to repay the credit. You cannot claim the credit if acquired your home by gift or inheritance OR if you acquired your home from a related person Shop and Compare multiple Home Insurance quotes for free.- If two or more unmarried individuals buy a main home, they can allocate the credit among the individual owners using any reasonable method. The total amount allocated cannot exceed the smaller of $8,000 or 10% of the purchase price. Note: A reasonable method is any method that does not allocate all or a part of the credit to a co-owner who is not eligible to claim that part of the credit (I would go with 50/50 as a reasonable method if one person is not eligible for the credit)- The purchase date is how you decide which credit you are eligible for. Only homes purchased from Jan 1 2009 to April 1st 2010 are eligible for the fully refundable $8000 credit. If you constructed your main home, you are treated as having purchased it on the date you first occupied it. - Foreign or Overseas Homes: You are considered a first time home buyer when buying an American residence, even if you owned principal residence outside of the United States within the previous three years. Non-resident alien's cannot claim the credit.- Members of the Armed Forces and certain federal employees serving outside the U.S. have an extra year to buy a principal residence in the U.S. and still qualify for the credit. An eligible taxpayer must buy or enter into a binding contract to buy a home by April 30, 2011, and settle on the purchase by June 30, 2011. Stop by if you are in the Grayslake Area and Get a Discount! www.RudysMexicanGrill.net  A Proud Sponsor of Local Youth Sports!
Certifications

 

 

Foundation Homes LLC

http://www.raydelao.com/ 

 

1) We specializes in BUYERS BROKERAGE

 

2) We help buyers find the BEST HOME at the 

    BEST PRICE with the least amount of stress

 

3) We help you sort through the maze

     of available FINANCING alternatives

 

4) We EDUCATE buyers on the buying process

     and all possible costs involved

 

5) We LISTEN to what you are looking for in

     a new home and neighborhood

 

6) We arrange for PRIVATE SHOWINGS of all

     homes  available that fit your needs

 

7) We discuss STRATEGY about offer price,

     home loan terms, interest rates, etc.

 

8) We help you with the NEGOTIATION of your

     new home

 

9)  We HELP you through the Closing Process

 

10) All this SERVICE at NO COST TO YOU!!!

  

                    So you when you have time to talk about buying a home?

                                             Please feel free to call me!

 

 

                                                                             Our Corporate Office address is  

                                                                                               Real People Realty                                                               7256 Benton Drive                                                               Frankfort, IL 60423                                                                                           Business: (815) 469-7449                                                              Fax: (815) 469-7474

 We just closed on this home today!

  Close  Tax: connectMLS Tax   ISI   Realist Listing & Property History    Map & Driving Directions Aerial View Neighborhood Info Report Rules Violation Payment Calculator Plat Map Neighborhood Tour    Radon Disclosure   49KB,05/06/09 9:34,Public Property Disclosure   90KB,05/06/09 9:33,Public Mold Disclosure   42KB,05/06/09 9:33,Public  Additional Information    << 1 of 9 >> Detached Single MLS #: 07197163   STAT: ACTV  AREA: 73  LDR: 04/24/2009 CTGF:       LP: $175,000 LD: 04/23/2009   OLP: $178,900 OMD:   LISTING MRKT TIME: 45 SP:   CONT DT:  SELLING OFC:  FIN:   CLSD DT:  SELLING AGT:  PNT:   ADDRESS: 210 S Tanglewood Ct CITY: Round Lake ZIP: 60073 DIR: RT 120/WILDSPRING N TO WEEPING WILLOW W TO TANGLEWOOD CT BLT: 1997 B78: N CT:   OWN: Fee Simple SUB:  LEASED: N LEASE XD:  CRP: ROUND LAKE CNY: Lake TWN: FREMONT MODEL: SUNFLOWER DIM: 46X100X65X63X42 RMS: 8 BR: 3 BTH: 1.1 MBB: Y FP: 0 BMT: Y BB: N PKN: G CARS: 2 WF: N Tax: $4,710.43 TXY: 2007 TXC: Homeowner SAS: U PIN: 06294030100000 MPN: N ASF:   ACR: 0   ASM:   FREQ: Not Applicable  WI:   CI:   GRS:   DIST#: 116  JH:   DIST#: 116  HS:   DIST#: 116  OT:   DIST#:   COORDINATES: NORTH: 33  SOUTH: 0  EAST:  0  WEST: 23    ROOM NAME  SIZE LEVEL FLOORING WIN TRMT  ROOM NAME  SIZE LEVEL FLOORING WIN TRMT Living Room:  11X9 Main Level Wood Laminate Y           Dining Room:  11X10 Main Level Hardwood N           Kitchen:  14X11 Main Level Hardwood Y           Family Room:  14X12 Main Level Ceramic Tile Y           Master Bedroom:  15X12 2nd Level Carpet             2nd Bedroom:  11X10 2nd Level Carpet             3rd Bedroom:  11X10 2nd Level Carpet             4th Bedroom:                   Foyer:  8X7 Main Level Ceramic Tile N           NC/AGE: N/11-25 Years AIR: Central Air AMN: Park/Playground APP: Oven/Range, Dishwasher, Refrigerator, Washer, Dryer ATC: Unfinished BAS: Partial, Unfinished BAT: Shared Master Bath, Double Sink DIN: Combined w/ LivRm DRV: Asphalt ELC: Circuit Breakers, 100 Amp Service EQP: Humidifier, TV-Cable, CO Detectors, Ceiling Fan, Sump Pump EXT: Aluminum/Vinyl/Steel Siding EXP:   FEA: Deck, Patio, Vaulted/Cathedral Ceiling, Storage Shed FND: Concrete Exst. B/F:  FPL:   GAR: Attached, 2 Car Garage, Transmitter(s), On-Site PAR: On-Site OD:   KIT: Eating Area-Table Space, Island HEA: Gas, Forced Air IMPW: Public IMPS: Sewer-Public IMPO: Curbs/Gutters, Sidewalks, Street Lights, Streets Paved INF: None LDS: Cul-de-sac, Fenced Yard, Landscaped Professionally Lot Size: Less Than .25 Acre MAI: None NCO:   OTR: Gallery/Foyer, Sitting Room, Utility/Laundry-1st Floor POS: Closing ROF: Asphalt/Glass (Shingles) STY: Colonial TPE: 2 Stories TRM: Conventional, FHA, VA   Remarks: 3 Bedrooms,walk-in closets ceiling fans, master bedroom has a vaulted ceiling and custom closet organizer.Open Floor Plans on the 1st floor with Ceramic floors in the foyer and family room. Kitchen has a breakfast bar, island, and computer area. Kitchen leads to a 15x15 deck. Fenced in yard, Newer Roof and Appliances. Stop by and See it today! Motivated Sellers!   Agent Remarks: VERY NICE HOME. QUICK CLOSE POSSIBLE. SHOWS VERY WELL. Any Questions? Just Added a Bonus if we can get a contract by June 15, 2009! Bonus paid to Buyers Agent with a closed Sale as part of the co-op   INTERNET LISTING: All REMARKS INTERNET: Y SCI: Bonus, Variable VOW COMNTS/REVS: Y VOW AVM: Y ADI: Y HEM:  N LIST:  Exclusive Right To Sell CC: 2.5 % - $200 PLUS $1000.00 BONUS SHO: Please Call Ray@224-436-0026 Give 2 hr. Notice LV CARD LBOX: Combination Box OWNER: Owner of Record AON: N PHONE:   BROKER: Real People Realty Inc. ID#: 1204 PHONE: (815) 469-7449 AGENT: Ray Delao ID#: 26261 PHONE: (224) 436-0026 CO-LIST:   AAN: Ray 224-436-0026 EMAIL: realtor@raydelao.com; ray@askgopher.com Copyright 2009 MRED LLC - INFORMATION NOT GUARANTEED, CHECK FLOOD INSURANCE, ROOM SIZES ROUNDED TO THE NEAREST FOOT

 

  Close  Tax: connectMLS Tax   ISI   Realist Listing & Property History    Map & Driving Directions Aerial View Neighborhood Info Report Rules Violation Payment Calculator Plat Map Neighborhood Tour  Additional Information    << 1 of 9 >> Detached Single MLS #: 07175688   STAT: ACTV  AREA: 46  LDR: 04/01/2009 CTGF:       LP: $279,000 LD: 04/01/2009   OLP: $291,000 OMD:   LISTING MRKT TIME: 67 SP:   CONT DT:  SELLING OFC:  FIN:   CLSD DT:  SELLING AGT:  PNT:   ADDRESS: 719 N Clover Ct CITY: Lindenhurst ZIP: 60046 DIR: GRASS LK/45; W ON GRASS LK 2 AUBURN MEADOWS; N 2 CLOVER BLT: 1998 B78: N CT:   OWN: Fee Simple SUB:  LEASED:  LEASE XD:  CRP: LINDENHURST CNY: Lake TWN: LAKE VILLA MODEL: CUSTOM DIM: 70 X 160 RMS: 11 BR: 4 BTH: 2.2 MBB: Y FP: 1 BMT: Y BB: Y PKN: G CARS: 2 WF: N Tax: $7,827.24 TXY: 2007 TXC: Homeowner SAS: N PIN: 02263030110000 MPN: N ASF:   ACR: 0.26   ASM: $200  FREQ: Annual  WI:   CI:   GRS:   DIST#: 34  JH:   DIST#: 34  HS:   DIST#: 117  OT: CLC  DIST#:   COORDINATES: NORTH: 39  SOUTH: 0  EAST:  0  WEST: 20    ROOM NAME  SIZE LEVEL FLOORING WIN TRMT  ROOM NAME  SIZE LEVEL FLOORING WIN TRMT Living Room:  15X14 Main Level Wood Laminate Y Theater Rm:  14X11 Basement     Dining Room:  10X9 Main Level Wood Laminate Y Work Rm:  17X18 Basement     Kitchen:  11X10 Main Level Vinyl             Family Room:  19X15 Main Level Wood Laminate Y           Master Bedroom:  19X12 2nd Level Wood Laminate Y           2nd Bedroom:  10X13 2nd Level Wood Laminate Y           3rd Bedroom:  10X9 2nd Level Wood Laminate Y           4th Bedroom:  11X10 2nd Level Wood Laminate Y           Eating Area:  11X8 Main Level               NC/AGE: N/11-25 Years AIR: Central Air AMN: Park/Playground APP: Oven/Range, Microwave, Dishwasher, Refrigerator, Washer, Dryer, Disposal ATC:   BAS: Full, Partially Finished BAT: MBR - Full, Separate Shower DIN: Separate DRV: Asphalt ELC: 200+ Amp Service EQP: Humidifier, CO Detectors, Ceiling Fan, Fan-Attic Exhaust, Sump Pump, Air Cleaner EXT: Aluminum/Vinyl/Steel Siding EXP:   FEA: Porch-Screened FND: Concrete Exst. B/F:  FPL: Location-Family Room GAR: Attached, 2.5 Car Garage PAR: Off Street OD:   KIT: Eating Area-Table Space HEA: Gas, Forced Air IMPW: Public IMPS: Sewer-Public IMPO: Curbs/Gutters, Sidewalks, Street Lights, Streets Paved INF: School Bus Service, Commuter Bus, Commuter Train LDS: Cul-de-sac, Forest Preserve Adjacent Lot Size: .25-.49 Acre MAI: None NCO:   OTR: Porch-Screened POS: Closing ROF: Asphalt/Glass (Shingles) STY: Traditional TPE: 2 Stories TRM: Conventional, FHA   Remarks: PRICE JUST REDUCED BEST VALUE IN AUBURN MEADOWS! OUTSTANDING 4-BDRM, 2 FULL BTH, 2 HALF BTH CUSTOM ON A CUL DE SAC & THE NATURE PRESERVE! MANY EXTRAS & CUSTOM UPGRADES: LRG, LODGE STYLE SCREENED IN BACK PORCH OVERLOOKS NATURE PRESERVE. SPACIOUS FAM RM FEATURES A WOOD BURNING FP & BUILT-IN BOOKSHELVES. LOWER LEVEL FEATURES TV ROOM, A PRIVATE WORKSHOP W/ VACUUM SYSTEM. THIS ONE'S SHARP! COME SEE IT & COMPARE TO OTHERS   Agent Remarks: Bonus! We need a signed contract by 7-04-09 and the buyers agent gets a $1000 bonus w/ a closed deal! Great Home! Bring All Clients! We want to see some offers today! For Showings Please Call Ray for Code and Confirmation   INTERNET LISTING: All REMARKS INTERNET: Y SCI: Bonus VOW COMNTS/REVS: N VOW AVM: N ADI: Y HEM:  N LIST:  Exclusive Right To Sell CC: 2.5 % -200 + 1000 BONUS SHO: Please Call Ray @ 224-436-0026 for Showings Leave card LBOX: Metal Push Button OWNER: Of Record AON: N PHONE:   BROKER: Real People Realty Inc. ID#: 1204 PHONE: (815) 469-7449 AGENT: Ray Delao ID#: 26261 PHONE: (224) 436-0026 CO-LIST:   AAN:   EMAIL: realtor@raydelao.com; ray@askgopher.com Copyright 2009 MRED LLC - INFORMATION NOT GUARANTEED, CHECK FLOOD INSURANCE, ROOM SIZES ROUNDED TO THE NEAREST FOOT

 

eect   this listing  Virtual Tour   Close             Neighborhood Info Payment Calculator Plat Map Virtual Tour Neighborhood Tour  Additional Information    << 1 of 9 >> Detached Single MLS #: 06831074   STAT: CLSD  AREA: 30  LDR: 03/16/2008 CTGF:       LP: $253,000 LD: 03/16/2008   OLP: $267,500 OMD: 09/15/2008 LISTING MRKT TIME: 184 SP: $250,000 CONT DT: 09/15/2008 SELLING OFC: 5041 FIN: Conventional CLSD DT: 10/10/2008 SELLING AGT: 54890 PNT:   ADDRESS: 17509 W Winnebago Dr CITY: Grayslake ZIP: 60030 DIR: HUNT CLUB&GAGES LAKE; W ON GAGES LAKE 2 WINNEBAGO; S 2 # BLT: 1974 B78: Y CT:   OWN: Fee Simple SUB:  LEASED:  LEASE XD:  CRP: UNINCORPORATED CNY: Lake TWN: WARREN MODEL:  DIM: 125X150 RMS: 7 BR: 3 BTH: 2 MBB: Y FP: 1 BMT: Y BB: N PKN: G CARS: 2 WF: N Tax: $5,465.47 TXY: 2007 TXC: Homeowner SAS: N PIN: 07291090010000 MPN: N ASF:   ACR: 0.43   ASM:   FREQ: Not Applicable  WI:   CI:   GRS: WOODLAND  DIST#: 50  JH: WOODLAND MIDDLE SCHOOL  DIST#: 50  HS: WARREN TOWNSHIP  DIST#: 121  OT: CLC  DIST#:   COORDINATES: NORTH: 33  SOUTH: 0  EAST:  0  WEST: 17    ROOM NAME  SIZE LEVEL FLOORING WIN TRMT  ROOM NAME  SIZE LEVEL FLOORING WIN TRMT Living Room:  13X22 Main Level Carpet Y           Dining Room:  11X11 Main Level Wood Laminate Y           Kitchen:  11X11 Main Level Wood Laminate Y           Family Room:  19X24 Lower Carpet Y           Master Bedroom:  13X14 2nd Level Carpet Y           2nd Bedroom:  11X14 2nd Level Carpet Y           3rd Bedroom:  10X10 2nd Level Carpet Y           4th Bedroom:                       NC/AGE: N/26-50 Years, Recent Rehab OD:   AIR: Central Air KIT: Eating Area-Table Space AMN: Park/Playground, Pond/Lake, Dock Community, Water Rights HEA: Gas, Forced Air APP: Oven/Range, Microwave, Dishwasher, Refrigerator, Freezer, Washer, Dryer, Disposal IMPW: Lake Michigan ATC: Unfinished IMPS: Sewer-Public BAS: Full, Finished IMPO:   BAT: MBR - Full, Separate Shower INF: School Bus Service, Commuter Bus, Commuter Train DIN: Separate (SEP) LDS:   DRV:   Lot Size: .25-.49 Acre ELC: Circuit Breakers MAI: None EQP: Water-Softener Owned, TV-Dish, CO Detectors, Ceiling Fan, Sump Pump NCO:   EXT: Aluminum/Vinyl/Steel Siding (AVS), Brick (BR) OTR: Family Room (FAM) FEA: Deck, Porch-Screened, Hot Tub POS: Closing FND:   ROF:   FPL: Location-Family Room STY: Quad Level GAR: Attached, 2.5 Car Garage TPE: 2 Stories PAR: Off Street TRM: Conventional   Remarks: OUTSTANDING 3-BDRM, 2-BTH QUAD ON A LARGE CORNER LOT IN WILDWOOD Subdivision.FENCED-IN BKYD, LRG DECK & SCREENED-IN HOT TUB.TOTALLY REMODELED KITCHEN/BEAUTIFUL CABINETS &NEW LAM FLR.COMPLETELY REDONE MSTR BATH. NEW/NEWER AC,FURNACE, HOT H2O HEATER & SUMP PUMP. PLUMBED IN FOR 1/2 BATH. REPLACEMENT ANDERSEN WINDOWS THROUGHOUT.CLOSE TO EVERYTHING GRAYSLAKE/GURNEE HAVE TO OFFER.   Agent Remarks: Extended!Bring your clients to this home! They will walk away loving it! You bring in the Client and the home will sell itself! $1000 bonus to buyers agent at closing IF we can get a signed contract by 10-12-08! Seller needs to sell ASAP!   INTERNET LISTING: All REMARKS INTERNET: Y ADI: Y HEM:  N LIST:  Exclusive Right To Sell CC: 2.50%-$200 +$1000 SCI: Bonus EMAIL: ray@raydelao.com; ray@buyorsell08.com SHO: CALL 866-800-8482 TO SHOW. REMOVE SHOES. LEAVE CARD. LBOX:   OWNER: OF RECORD AON: N PHONE:   BROKER: Real People Realty Inc. ID#: 1204 PHONE: (815) 469-7449 AGENT: RAY DELAO ID#: 26261 PHONE: (224) 436-0026 CO-LIST:   AAN:   Copyright 2008 MRED LLC - INFORMATION NOT GUARANTEED, CHECK FLOOD INSURANCE, ROOM SIZES ROUNDED TO THE NEAREST FOOT

 

 

 

 

Virtual Tour   Close  Tax Listing & Property History    Map & Driving Directions Aerial View Neighborhood Info Payment Calculator Plat Map Virtual Tour Neighborhood Tour  Additional Information    << 1 of 7 >> Attached Single MLS #: 06950336   STAT: ACTV  AREA: 20  LDR: 07/07/2008 CTGF:       LP: $163,400 LD: 07/07/2008   OLP: $163,900 OMD:   LISTING MRKT TIME: 96 SP:   CONT DT:  SELLING OFC:  FIN:   CLSD DT:  SELLING AGT:  PNT:   ADDRESS: 594 Blue Springs Dr UNIT#: 594 TNU: 3 CITY: Fox Lake ZIP: 60020 SUB/COMPLEX:  BLT: 2005 B78: N OWN: Fee Simple w/ HO Assn. Leased/XD:  MODEL: SANTA FE DIR: 134 & WILSON W TO CAMBRIDGE LEFT TO BLUE SPRINGS & # CRP: FOX LAKE CNY: Lake TWN: GRANT RMS:6 BR: 2 BTH: 2.1 MBB: Y FP: 0 BMT: N BB: N PKN: G CARS: 2 DIM: INTEGRAL TXY: 2007 TXC: Homeowner ATD:  TDY:  ASF: 1328 UFL: 1 DAY: 0 TAX: $3,696.17 LPF:  HPF:  POO:   OWS:   SAS: U PTA: Y MPW:  WF: N NC: N OD:  CT: 0 PIN: 05231170800000 MP: N   ASM: $142  Master Assoc. Fee: Y  WI:   CI:   GRS: BIG HOLLOW  DIST#: 38  JH: EDMOND H TAVEIRNE MIDDLE SCHOOL  DIST#: 38  HS: GRANT COMMUNITY  DIST#: 124  OT: CLC  DIST#:   COORDINATES: NORTH: 34  SOUTH: 0  EAST:  0  WEST: 26  Room Details, Utilities and Features ROOM NAME  SIZE LEVEL FLOORING WIN TRMT  ROOM NAME  SIZE LEVEL FLOORING WIN TRMT Living Room:  13X10 Main Level Carpet Y Utility Rm:  1X1 2nd Level Vinyl N Dining Room:  10X9 Main Level Carpet Y           Kitchen:  12X9 Main Level Vinyl N           Family Room:   Not Applicable               Master Bedroom:  14X12 2nd Level Carpet N           2nd Bedroom:  11X10 2nd Level Carpet Y           3rd Bedroom:                   4th Bedroom:                   Loft:  16X10 2nd Level Carpet Y               AGE: 1-5 Years IMPW: Public AIR: Central Air IMPS: Sewer-Storm CAA:   IMPO: Curbs/Gutters, Sidewalks, Street Lights, Streets Paved APP: Oven/Range, Microwave, Dishwasher, Refrigerator, Washer, Dryer, Disposal INF: School Bus Service BAS: None KIT: Pantry-Closet BAT: MBR - Full LDS: Common Grounds DIN: Combined w/ LivRm (WLR) MAI: Common Insurance, Exterior Maintenance, Lawn Care, Scavenger, Snow Removal, Lake Rights DRV: Asphalt NCO:   ELE: Circuit Breakers, 100 Amp Service OTR: Loft, Utility/Laundry-2nd Floor EQP: Water-Softener Rented MGT: Manager Off-site EXP: E (East) PET: Cats OK, Dogs OK EXT: Aluminum/Vinyl/Steel Siding (AVS) POS: Closing FND: Concrete ROF: Asphalt/Glass (Shingles) FPL:   TPC: Townhouse GAR: 2 Car Garage TRM: Conventional PAR: Off Street UFE: Private Entrance, End Unit, Laundry/Hook-Up In Unit, Patio, Porch HEA: Gas, Forced Air   Remarks: LIKE NEW SANTA FE IN HOLIDAY PARK-LARGER END UNIT WITH MANY EXTRAS. PREMIUM CARPETING, PREMIUM MAPLE CABINETS & MAPLE TRIM, UPGRADED LIGHT FIXTURES, TOP END WASHER/DRYER, SUN PATIO IN ADDITION TO FRONT PORCH. FEATURES SPACIOUS, SUNNY LOFT AREA; MASTER BDRM & WALK-IN & MASTER BATH WITH LARGE LINEN CLOSET. GET THE EXTRA UPGRADES & SPACE FOR THE SAME $ AS OTHER UNITS. $280 per year for lake assoc.   Agent Remarks: We Need to Close ASAP! I just got the OK to Offer $1000 bonus to the buyers agent with a signed contract by 10-20-08. Bonus will be added to buyers agent commission at closing. We need to close to get the bonus.   INTERNET LISTING: All REMARKS INTERNET: Y ADI: Y HEM:  N LIST:  Exclusive Right To Sell CC: 2.50%-$200 +$1000 SCI: Bonus, Variable EMAIL: ray@raydelao.com; ray@buyorsell08.com SHO: CALL 866-800-8482 TO SHOW. REMOVE SHOES. LEAVE CARD. LBOX:   OWNER: OF RECORD AON: N PHONE:   BROKER: Real People Realty Inc. ID#: 1204 PHONE: (815) 469-7449 AGENT: RAY DELAO ID#: 26261 PHONE: (224) 436-0026 CO-LIST:   AAN: RAY DELAO Copyright 2008 MRED LLC - INFORMATION NOT GUARANTEED, CHECK FLOOD INSURANCE, ROOM SIZES ROUNDED TO THE NEAREST FOOT

 

  Close  Tax Listing & Property History    Map & Driving Directions Aerial View Neighborhood Info Payment Calculator Plat Map Neighborhood Tour  Additional Information    << 1 of 8 >> Detached Single MLS #: 06793311   STAT: ACTV  AREA: 73  LDR: 02/06/2008 CTGF:       LP: $248,900 LD: 02/06/2008   OLP: $259,900 OMD:   LISTING MRKT TIME: 248 SP:   CONT DT:  SELLING OFC:  FIN:   CLSD DT:  SELLING AGT:  PNT:   ADDRESS: 2274 N Essex Ln CITY: Round Lake Beach ZIP: 60073-4157 DIR: 83 N OF ROLLINS TO FOX CHASE EAST TO ESSEX RT TO # BLT: 1999 B78: N CT: 0 OWN: Fee Simple SUB: LAKEWOOD HILLS LEASED:  LEASE XD:  CRP: ROUND LAKE BEACH CNY: Lake TWN: LAKE VILLA MODEL: HARTFORD DIM: 117 X 60 RMS: 9 BR: 4 BTH: 2.1 MBB: Y FP: 0 BMT: Y BB: N PKN: G CARS: 2 WF: N Tax: $7,111.83 TXY: 2006 TXC: Homeowner SAS: N PIN: 06103240060000 MPN: N ASF:   ACR: 0.3   ASM: $15  FREQ: Monthly  WI:   CI:   GRS:   DIST#: 46  JH:   DIST#: 46  HS: GRAYSLAKE NORTH  DIST#: 127  OT: CLC  DIST#:   COORDINATES: NORTH: 36  SOUTH: 0  EAST:  0  WEST: 21    ROOM NAME  SIZE LEVEL FLOORING WIN TRMT  ROOM NAME  SIZE LEVEL FLOORING WIN TRMT Living Room:  12X15 Main Level Wood Laminate Y Laundry:  6X8 Main Level Wood Laminate Y Dining Room:  12X13 Main Level Wood Laminate Y           Kitchen:  11X12 Main Level Wood Laminate Y           Family Room:  12X18 Main Level Carpet Y           Master Bedroom:  12X17 2nd Level Carpet Y           2nd Bedroom:  12X13 2nd Level Carpet N           3rd Bedroom:  12X11 2nd Level Carpet N           4th Bedroom:  11X12 2nd Level Carpet N               NC/AGE: N/6-10 Years OD:   AIR: Central Air KIT: Eating Area-Breakfast Bar, Pantry-Butler AMN: Park/Playground, Pond/Lake HEA: Gas, Forced Air APP: Oven/Range, Dishwasher, Refrigerator, Washer, Dryer, Disposal IMPW: Lake Michigan ATC: Unfinished IMPS: Sewer-Public BAS: Full, Unfinished IMPO: Curbs/Gutters, Sidewalks, Street Lights, Streets Paved BAT: MBR - Full, Double Sink INF: School Bus Service, Commuter Bus, Commuter Train DIN: Separate (SEP) LDS: Fenced Yard, Park Adjacent DRV: Asphalt Lot Size: .25-.49 Acre ELC: Circuit Breakers MAI: Exterior Maintenance, Lawn Care, Scavenger, Snow Removal, Other EQP: TV-Dish, CO Detectors, Sump Pump NCO:   EXT: Aluminum/Vinyl/Steel Siding (AVS) OTR: Family Room (FAM), Recreation (REC), Utility/Laundry-1st Floor FEA: Vaulted/Cathedral Ceiling, Balcony POS: Closing FND: Concrete ROF: Asphalt/Glass (Shingles) FPL:   STY: Traditional GAR: Attached, 2 Car Garage TPE: 2 Stories PAR: Off Street, On-Site TRM: Conventional   Remarks: OUTSTANDING HARTFORD IN LAKEWOOD HILLS-GRAYSLAKE SCHOOLS! LOTS OF FINISHING TOUCHES. LARGE, SPACIOUS LOT. NEW/NEWER APPLIANCES. SPACIOUS KITCHEN, EATING AREA & ADJOINING FAMILY ROOM. LARGE BASEMENT FOR RECREATION. LARGE PATIO FOR ENTERTAINMENT WITH A FENCED-IN BACKYARD PLUS MUCH MORE! ALL THIS FOR $248,900! THIS ONE'S SHARP! COME SEE IT AND COMPARE TO OTHERS!   Agent Remarks:    INTERNET LISTING: All REMARKS INTERNET: Y ADI: Y HEM:  N LIST:  Exclusive Right To Sell CC: 2.50%-$200 SCI: Variable EMAIL: ray@raydelao.com; ray@buyorsell08.com SHO: CALL866-800-8482 TO SHOW. REMOVE SHOES. LEAVE CARD. LBOX:   OWNER: OF RECORD AON: N PHONE:   BROKER: Real People Realty Inc. ID#: 1204 PHONE: (815) 469-7449 AGENT: RAY DELAO ID#: 26261 PHONE: (224) 436-0026 CO-LIST:   AAN:       Close  Tax: connectMLS Tax   ISI   Realist Listing & Property History    Map & Driving Directions Aerial View Neighborhood Info Report Rules Violation Payment Calculator Plat Map Neighborhood Tour    Radon Disclosure   49KB,05/06/09 9:34,Public Property Disclosure   90KB,05/06/09 9:33,Public Mold Disclosure   42KB,05/06/09 9:33,Public  Additional Information    << 1 of 9 >> Detached Single MLS #: 07197163   STAT: ACTV  AREA: 73  LDR: 04/24/2009 CTGF:       LP: $175,000 LD: 04/23/2009   OLP: $178,900 OMD:   LISTING MRKT TIME: 45 SP:   CONT DT:  SELLING OFC:  FIN:   CLSD DT:  SELLING AGT:  PNT:   ADDRESS: 210 S Tanglewood Ct CITY: Round Lake ZIP: 60073 DIR: RT 120/WILDSPRING N TO WEEPING WILLOW W TO TANGLEWOOD CT BLT: 1997 B78: N CT:   OWN: Fee Simple SUB:  LEASED: N LEASE XD:  CRP: ROUND LAKE CNY: Lake TWN: FREMONT MODEL: SUNFLOWER DIM: 46X100X65X63X42 RMS: 8 BR: 3 BTH: 1.1 MBB: Y FP: 0 BMT: Y BB: N PKN: G CARS: 2 WF: N Tax: $4,710.43 TXY: 2007 TXC: Homeowner SAS: U PIN: 06294030100000 MPN: N ASF:   ACR: 0   ASM:   FREQ: Not Applicable  WI:   CI:   GRS:   DIST#: 116  JH:   DIST#: 116  HS:   DIST#: 116  OT:   DIST#:   COORDINATES: NORTH: 33  SOUTH: 0  EAST:  0  WEST: 23    ROOM NAME  SIZE LEVEL FLOORING WIN TRMT  ROOM NAME  SIZE LEVEL FLOORING WIN TRMT Living Room:  11X9 Main Level Wood Laminate Y           Dining Room:  11X10 Main Level Hardwood N           Kitchen:  14X11 Main Level Hardwood Y           Family Room:  14X12 Main Level Ceramic Tile Y           Master Bedroom:  15X12 2nd Level Carpet             2nd Bedroom:  11X10 2nd Level Carpet             3rd Bedroom:  11X10 2nd Level Carpet             4th Bedroom:                   Foyer:  8X7 Main Level Ceramic Tile N           NC/AGE: N/11-25 Years AIR: Central Air AMN: Park/Playground APP: Oven/Range, Dishwasher, Refrigerator, Washer, Dryer ATC: Unfinished BAS: Partial, Unfinished BAT: Shared Master Bath, Double Sink DIN: Combined w/ LivRm DRV: Asphalt ELC: Circuit Breakers, 100 Amp Service EQP: Humidifier, TV-Cable, CO Detectors, Ceiling Fan, Sump Pump EXT: Aluminum/Vinyl/Steel Siding EXP:   FEA: Deck, Patio, Vaulted/Cathedral Ceiling, Storage Shed FND: Concrete Exst. B/F:  FPL:   GAR: Attached, 2 Car Garage, Transmitter(s), On-Site PAR: On-Site OD:   KIT: Eating Area-Table Space, Island HEA: Gas, Forced Air IMPW: Public IMPS: Sewer-Public IMPO: Curbs/Gutters, Sidewalks, Street Lights, Streets Paved INF: None LDS: Cul-de-sac, Fenced Yard, Landscaped Professionally Lot Size: Less Than .25 Acre MAI: None NCO:   OTR: Gallery/Foyer, Sitting Room, Utility/Laundry-1st Floor POS: Closing ROF: Asphalt/Glass (Shingles) STY: Colonial TPE: 2 Stories TRM: Conventional, FHA, VA   Remarks: 3 Bedrooms,walk-in closets ceiling fans, master bedroom has a vaulted ceiling and custom closet organizer.Open Floor Plans on the 1st floor with Ceramic floors in the foyer and family room. Kitchen has a breakfast bar, island, and computer area. Kitchen leads to a 15x15 deck. Fenced in yard, Newer Roof and Appliances. Stop by and See it today! Motivated Sellers!   Agent Remarks: VERY NICE HOME. QUICK CLOSE POSSIBLE. SHOWS VERY WELL. Any Questions? Just Added a Bonus if we can get a contract by June 15, 2009! Bonus paid to Buyers Agent with a closed Sale as part of the co-op   INTERNET LISTING: All REMARKS INTERNET: Y SCI: Bonus, Variable VOW COMNTS/REVS: Y VOW AVM: Y ADI: Y HEM:  N LIST:  Exclusive Right To Sell CC: 2.5 % - $200 PLUS $1000.00 BONUS SHO: Please Call Ray@224-436-0026 Give 2 hr. Notice LV CARD LBOX: Combination Box OWNER: Owner of Record AON: N PHONE:   BROKER: Real People Realty Inc. ID#: 1204 PHONE: (815) 469-7449 AGENT: Ray Delao ID#: 26261 PHONE: (224) 436-0026 CO-LIST:   AAN: Ray 224-436-0026 EMAIL: realtor@raydelao.com; ray@askgopher.com Copyright 2009 MRED LLC - INFORMATION NOT GUARANTEED, CHECK FLOOD INSURANCE, ROOM SIZES ROUNDED TO THE NEAREST FOOT     Close  Tax: connectMLS Tax   ISI   Realist Listing & Property History    Map & Driving Directions Aerial View Neighborhood Info Report Rules Violation Payment Calculator Plat Map Neighborhood Tour  Additional Information    << 1 of 9 >> Detached Single MLS #: 07168507   STAT: ACTV  AREA: 30  LDR: 03/24/2009 CTGF:       LP: $897,000 LD: 03/23/2009   OLP: $897,000 OMD:   LISTING MRKT TIME: 76 SP:   CONT DT:  SELLING OFC:  FIN:   CLSD DT:  SELLING AGT:  PNT:   ADDRESS: 33546 N Lakeshore Dr CITY: Grayslake ZIP: 60030 DIR: RTE 45 & GAGES LAKE RD, E2 EVERGREEN, R2 LAKESHORE,RIGHT BLT: 2001 B78: N CT: 0 OWN: Fee Simple SUB:  LEASED:  LEASE XD:  CRP: UNINCORPORATED CNY: Lake TWN: WARREN MODEL: CUSTOM DIM: 47X138X50X132 RMS: 8 BR: 3 BTH: 3.1 MBB: Y FP: 1 BMT: Y BB: Y PKN: G CARS: 3 WF: Y Tax: $10,711.38 TXY: 2007 TXC: Homeowner SAS: N PIN: 07302010410000 MPN: N ASF:   ACR:     ASM: $50  FREQ: Annual  WI:   CI:   GRS:   DIST#: 50  JH:   DIST#: 50  HS:   DIST#: 121  OT:   DIST#: 0  COORDINATES: NORTH: 33  SOUTH: 0  EAST:  0  WEST: 18    ROOM NAME  SIZE LEVEL FLOORING WIN TRMT  ROOM NAME  SIZE LEVEL FLOORING WIN TRMT Living Room:  34X31 Main Level Hardwood Y Other:  7X8 Main Level Ceramic Tile Y Dining Room:  COMBO Main Level Hardwood Y           Kitchen:  1X1 Main Level Hardwood Y           Family Room:  34X40 Basement Carpet N           Master Bedroom:  16X17 2nd Level Carpet Y           2nd Bedroom:  10X17 2nd Level Hardwood Y           3rd Bedroom:  10X12 2nd Level Carpet Y           4th Bedroom:                   Office:  17X14 2nd Level Hardwood Y           NC/AGE: N/6-10 Years AIR: Central Air AMN: Pond/Lake, Water Rights APP: Oven/Range, Microwave, Dishwasher, Refrigerator, Refrigerator-Bar, Washer, Dryer, Disposal, Grill-Outdoor ATC:   BAS: Full, Finished BAT: MBR - Full, Whirlpool, Separate Shower, Double Sink DIN: Combined w/ LivRm DRV: Asphalt ELC: Circuit Breakers EQP: Humidifier, TV-Dish, CO Detectors, Ceiling Fan, Sump Pump, Air Cleaner EXT: Cedar, Shakes EXP:   FEA: Deck, Vaulted/Cathedral Ceiling, Boat Dock/Mooring, Bar-Wet FND: Concrete Exst. B/F:  FPL: Location-Living Room, Location-Other GAR: Attached, 2.5 Car Garage, Garage Door Opener(s) (Auto), Transmitter(s), Heated PAR: Off Street OD:   KIT: Eating Area-Table Space, Pantry-Butler HEA: Gas, Forced Air, Radiant, 2+ Sep Heating Systems, Indv Controls IMPW: Lake Michigan IMPS: Sewer-Public IMPO: Street Lights, Streets Paved INF: Commuter Train LDS: Lake Front, Landscaped Professionally, Water View Lot Size: Less Than .25 Acre MAI: Snow Removal, Lake Rights NCO:   OTR: Den/Office/Study, Family Room, Great Room POS: Closing ROF: Asphalt/Glass (Shingles) STY: Traditional TPE: 2 Stories TRM: Conventional, FHA   Remarks: RARE LAKE PROPERTY! THE BEST ON GAGES LAKE! OUTSTANDING CUSTOM HOME WITH ALL OF THE FEATURES TO TRULY ENJOY LAKE LIFE! HUGE, OPEN FLOOR PLAN! CUSTOM GOURMET KITCHEN! LRG GREAT ROOM W/ OVERSIZED WINDOWS FOR PANORAMIC VIEW OF LAKE. 2 LAKESIDE DECKS, DOCK, SLIP & BOAT LIFT. GREAT FIN BSMT & WET BAR. HIGH END FIXTURES/AMENITIES THRUOUT! WHY BUY A LUXURY HOME THAT'S IN A FIELD? COME SEE THIS ONE & PREPARE TO BE IMPRESSED!   Agent Remarks: Come show this Beautiful Lake Front home, you client will love all the extras! Call Ray 224-436-0026 EZ 2Show, just need to confirm w/seller Please take off Shoes Showings start 3-25-09   INTERNET LISTING: All REMARKS INTERNET: Y SCI: Variable VOW COMNTS/REVS: Y VOW AVM: Y ADI: Y HEM:  N LIST:  Exclusive Right To Sell CC: 2.5 % -$200 SHO: Call Ray 224-436-0026 EZ 2Show,need to confirm w/seller LBOX: Supra - Blue iBox OWNER: of record AON: N PHONE:   BROKER: Real People Realty Inc. ID#: 1204 PHONE: (815) 469-7449 AGENT: Ray Delao ID#: 26261 PHONE: (224) 436-0026 CO-LIST:   AAN:   EMAIL: realtor@raydelao.com; ray@askgopher.com Copyright 2009 MRED LLC - INFORMATION NOT GUARANTEED, CHECK FLOOD INSURANCE, ROOM SIZES ROUNDED TO THE NEAREST FOOT Prepared By: Ray Delao - Real People Re   Tax Credit What You Should Know about the First-Time Homebuyer Tax Credit The American Recovery and Reinvestment Act of 2009 features $8,000 first-time buyer tax credit for first-time buyers who purchase a home on or after Jan. 1, 2009 and before Dec. 1, 2009.    The temporary credit is only available for home purchases made from Jan. 1, 2009 to before Dec. 1, 2009 and is equal to 10 percent of the cost of the home, up to a maximum credit of $8,000. (For example, a home purchased for $80,000 or more would qualify for the full $8,000 credit while a $70,000 home would only qualify for 10 percent, or $7,000). Buyers claim the credit on their federal tax return to reduce their tax liability. If the credit is more than the taxes owed, the buyer will get a refund check for the difference. Only first-time homebuyers can take advantage of the tax credit. A first-time buyer is defined under the tax credit as an individual who has not owned a home in the last three years. Eligible properties include anything that will be used as a principal single-family residence – including condos and townhouses. There are income guidelines on the credit. Individuals with an adjusted gross income up to $75,000 (or $150,000 if filing jointly) are eligible for the full tax credit. The credit is phased down for those earning more and is not available for those with an income above $95,000 (or $170,000 if filing jointly). The new tax credit does not have to be repaid if the buyer stays in the home at least three years. But if the home is sold before that, the entire amount of the credit is recaptured on the sale. People who purchased homes under last year’s $7,500 tax credit will still be required to repay that credit to the government over a 15-year period. The latest economic stimulus package also reinstates higher loan limits on the popular Federal Housing Administration (FHA) loans as well as conforming mortgage loans through Fannie Mae or Freddie Mac until the end of 2009. Loan limits had dropped in some markets at the beginning of 2009, but the economic stimulus plan temporarily raises them, giving people more buying power when looking for a home.  

[Update Nov 2009] Following Congress approval, President Obama has signed off on the bill approving an extension of the $8,000 new home buyer tax credit until April 30th 2010. Also, the new provisions in the extension are NOT retroactive. Here is a summary of the new and updated provisions and their impact on you if you have or are planning to buy a house:

- Qualification Period : First-time home buyers who bought after January 1, 2009 and before April 1 2010 (with closing to take place before July 1), would get the $8,000 home buyer tax credit. For the purposes of claiming the tax credit, the purchase date is the date when closing occurs and the title to the property transfers to the home owner. This is an update from the original November 30th 2009 deadline. If you and your spouse claim the credit on a joint return (both of you must meet the income and past ownership criteria to qualify), each spouse is treated as having been allowed half of the credit for purposes of repaying the credit. So the total amount claimable is still only $8000 (up to April 30th 2010).

- Income qualification limits: The home buyers' credit would be available to individuals with a modified adjusted gross income (MAGI) of up to $125,000, or $250,000 for couples, up from $75,000 for individuals and $150,000 for couples under the original rules. The higher income limits are only for homes purchased after Nov. 6, 2009. That is, the existing MAGI phase-outs of $75,000 to $95,000 or $150,000 to $170,000 for joint filers still apply to purchases on or before Nov. 6, 2009. Those with incomes higher than the above limits do not qualify for any part of the tax credit.

- *NEW* Current Homeowners looking for a replacement primary residence could also qualify for a $6,500 (up to $3,250 for a married individual filing separately) under the new "long-time resident" provision. They must have lived in the same principal residence for any five-consecutive year period during the eight-year period that ended on the date the replacement home is purchased. This new provision also only applies to homes purchased after Nov. 6th 2009.

- Claiming the new home buyer credit: For qualifying purchases, taxpayers have the option of claiming the credit on either their 2009 or 2010 return. A new version of Form 5405, First-Time Home buyer Credit, is available on the IRS website. Taxpayers claiming the credit on their 2009 returns, will not be able to file electronically but instead will need to file a paper return by using the new version of Form 5405. A taxpayer who purchased a home on or before Nov. 6 and chooses to claim the credit on an original or amended 2008 return may continue to use the current version of Form 5405.

 

- The new $8000 credit can be used towards the down payment of a house bought in the credit qualifying period. You need to work with your lender to take advantage of this provision.

- Tax Credit Exclusions: Homes that cost more than $800,000 aren't eligible for the credit and you must be over 18 years old to claim the credit (dependents are not eligible to claim the credit either). Those who sell their new home or stop using it as their main residence within three years would have to repay the credit. You cannot claim the credit if acquired your home by gift or inheritance OR if you acquired your home from a related person

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- If two or more unmarried individuals buy a main home, they can allocate the credit among the individual owners using any reasonable method. The total amount allocated cannot exceed the smaller of $8,000 or 10% of the purchase price. Note: A reasonable method is any method that does not allocate all or a part of the credit to a co-owner who is not eligible to claim that part of the credit (I would go with 50/50 as a reasonable method if one person is not eligible for the credit)

- The purchase date is how you decide which credit you are eligible for. Only homes purchased from Jan 1 2009 to April 1st 2010 are eligible for the fully refundable $8000 credit. If you constructed your main home, you are treated as having purchased it on the date you first occupied it.

- Foreign or Overseas Homes: You are considered a first time home buyer when buying an American residence, even if you owned principal residence outside of the United States within the previous three years. Non-resident alien's cannot claim the credit.

- Members of the Armed Forces and certain federal employees serving outside the U.S. have an extra year to buy a principal residence in the U.S. and still qualify for the credit. An eligible taxpayer must buy or enter into a binding contract to buy a home by April 30, 2011, and settle on the purchase by June 30, 2011.

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Hi! I'm Ray DeLao w/ Home Foundations LLC. I'm ready to start helping you get out of your old home and find you a dream home . See Ya around the Northern Lake County IL area!