Tax Tips for Homeowners

It’s tax time and you’re probably gathering all of the forms and paperwork you’ll need to prepare your 2009 income tax return.  As a  homeowner you know that you are eligible for various tax deductions and tax credits.  Here are some tax tips that I hope will help my neighbors here in Andover and North Andover take full advantage of the tax benefits of home ownership.  Curious about what your home is worth?  Find out what homes are selling for in your North Andover or Andover neighborhood.

Reading today’s edition of the Boston Globe, I came across this comic strip by Terri Libenson….I thought it was a perfect commentary for the last day of winter break in Massachusetts communities!  Enjoy….

The end of winter break in the Andovers

Historic Andover Landmark

This stately residence boast an architecture and style unparalleled in the Andover area.  Truly unique and affordable, this Andover landmark showcases a stunning new ballroom and grand entry and foyer.   The new heating system, storage facilities, laundry, elevator and carpeting are among the fully insured improvements you’ll enjoy. Upstairs, soaring ceilings, spacious open living room  a bonus sleep/storage loft area welcome you home.  Deeded and guest parking and close to parks,schools,shops and transportation.  Offered at an incredible $139,900 and presented by Paulette Zuena, REMAX Partners, Andover, call for your personal tour or click here for more details.

I’m lucky, I have the opportunity to meet lots of great people in my business.  People come to the Boston area from all over the world.  If you’re lucky enough to live here you know that one of the best things about Andover and the Merrimack Valley is our proximity to Boston.  Everyone I talk with seems to love Boston and when I meet people from other parts of the country…even those who have yet to visit the area…they all seem to rank Boston as one of their favorite cities or they have Boston on their ”must visit” list.  Prevention Magazine in conjunction with the American Podiatric Medical Association and Sperling’s Best Places recently ranked Boston as the second best Walking City in America.  San Francisco was named the best while New York, Philadelphia and Chicago rounded off the top five. For those of us who live here are not surprised at all.  If you’d like more information about the Andover area log onto my website at YourPaulette.com or give me a call!

Click on the photo to find out more about the first time homebuyer tax credit

Time is running out…November 30, 2009 is the target date. You must close on your new home by then to qualify for this historic tax credit.  Whether you’re looking for a home in Andover, North Andover or a nearby community the time to act is now!  Take a look at this video and then start searching the MLS  for your new home in the Andover area today!

 If you're facing a financial hardship or are at risk for foreclosure on your home in Andover, consider the following alternatives.

1. Reinstatement: This option is extremely simple, but the most difficult. The homeowner asks the mortgage company the total amount owed and pays it all, including fines and fees. It does not require approval, and lenders will allow this up to the day before the final foreclosure sale.
2. Forbearance or Repayment plan: This is when a homeowner negotiates repaying their back payments over a period of time. Usually, the homeowner makes their current payment as well as a portion of the back payments owed. Most lenders require homeowners to be qualified for this option.
3. Mortgage Modification: This plan is when either the interest rate of the loan, the principal balance or the term of the loan is reduced. The result is generally a lower, more affordable payment for the homeowner. Homeowners need to qualify for this option and must supply all necessary documentation, while the lender has to be actively pursuing modifications.
4. Short Sale:  Contact me your Certified Distressed Property Expert to negotiate the sale of your home. In many cases the mortgage company will allow a short sale which includes all realtor and legal fees.

New price $329,900!

 If you just drive by you’ll never see the surprisingly peaceful backyard retreat that comes with this charming Cape style home.  From top to bottom this bright and sunny home is in truly move in condition.  Close to Andover Center and commuter routes this home offers expansion possibilities as well as an oversized 2 car garage with plenty of storage.  Abuts acres of conservation land!  Contact me for more details or more listings in Andover, North Andover and the surrounding communities in the Merrimack Valley.

One level living in a popular Andover. Located near town, shops and schools this home is ready for your decorating style and TLC.  Offered at $379,900 the home is a great opportunity for a first time homebuyer or someone looking for a smaller home.  You owe it to yourself to see more details and take a look at similarly price homes in other Andover neighborhoods.

The kids are finally out of school here in Andover and North Andover and you may be planning a fun family vacation! Before you go, take some time to think about the best ways to protect your home from a possible burglary while you are away. The post offices in Andover and North Andover will gladly stop the mail while you're away and deliver it in bulk when you return---no need to make two trips to the post office. A simple phone call to the Boston Globe or the Eagle Tribune will stop the newspaper delivery--you can even donate your undelivered newspapers to a local school program! Obviously be sure to  lock the house up tightly and leave a light on.  Here are a few more ideas which go a step beyond these old stand-bys:

• If you happen to be going away on an extended trip, you may be better off asking a neighbor to pick up your mail and newspaper and bring it into your home each day.
• Invest in  a couple of timers. You can set them to turn a light on and then off at the same time each day. You can also use a timer on a radio or stereo.
• Hire a house sitter in the form of your neighbor’s responsible teen, or work out a system with your neighbor where you can cover their house when they go away and they look after yours when you are away.
• If your neighborhood does not already have a “neighborhood watch” program, be the one to start it. That way you will always have someone to tell your travel plans to.
• Consider purchasing a home security system. Your home will be regularly monitored and many companies offer a neighborhood patrol.  Many will even monitor your home for smoke, water or temperature changes.

It’s that fun time of year again!  I’m so thankful to live in a country where we shoot cannons and explosives into the night sky to celebrate our freedom and not to overthrow repressive governments and dictators.  Around the world there is unrest—Honduras, Iran, Iraq and Pakistan are just a few of the world regions where freedom and the right to “life, liberty and the pursuit of happiness” are just a distant hope and dream.  I hope you will take some time this Independence Day to celebrate our treasured heritage with family and loved ones.  Remember always how blessed we are, how important it is to protect our freedom and to give thanks to those who came before us and sacrificed much to leave us the legacy and lifestyle we enjoy today.  To help you enjoy your 4th of July Holiday, here is a list of local holiday events, activities and of course Fireworks!

Andover

July 3: Andover High School, 80 Shawsheen Road with performance by Middlesex Concert Band at 7 p.m., followed by fireworks at dusk.

July 4: The Park, Bartlet Street, with jazz band concert at 8-9:30 a.m.; pancake breakfast (adults $5, children/seniors, $3; Horribles parade, 9:30 a.m.; children’s games, prizes and entertainment, 10-11:30 a.m.; Middlesex Concert Band, 10:30 a.m.-noon. 

North Andover

July 3: Town Common in Old Center with family picnic, music by Russ McQueen, beer and wine tent, 5-8 p.m.

July 4: Town Common, 28th annual Merrimack Valley Striders Road Race starts 8 a.m.; food, children’s games, crafters and display tents, 9 a.m.-4 p.m.; doll carriage and bike parade, pony rides, Rotary Club castle, beer and wine tent, starting at noon. Fireworks at North Andover Middle School, 9 p.m. Free parking and shuttle service from North Andover High to common, 11 a.m.-8 p.m.

July 5: Town Common with Military Appreciation Day non-denominational service at 9 a.m. with Ulysses S. Grant re-enactor, crafters and display tents, 10 a.m.; dunk tank, pony rides at noon; vintage baseball, 3 p.m.; performance by Jazz Disciples, 3:30 p.m.; beer and wine tent, noon.