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Featured Showcase Property
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$619,900
| MLS# |
1037919
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| Type: |
Single Family |
| Neighborhood: |
BROOKSIDE/QUIDNESSETT |
| Beds: |
4 Beds |
| Baths: |
2 Full / 1 Half |
| Total Liv. Area: |
3,586 sq. ft. |
| Lot Size: |
50,000 sq. ft. |
Listed by:
Allen Gammons
PRUDENTIAL GAMMONS REALTY
Office: 401-886-6100
$179,000
| MLS# |
1020693
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| Type: |
Vacant Land |
| Neighborhood: |
DIAMOND HILL |
| Lot Frontage: |
0 ft. |
| Lot Size: |
200,376 sq. ft. |
| Lot Type: |
Residential |
Listed by:
Julie Grundy
Coastview Realty, Llc
Office: 401-788-0078
$243,500
| MLS# |
1038259
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| Type: |
Single Family |
| Neighborhood: |
WARWICK NECK |
| Beds: |
3 Beds |
| Baths: |
2 Full / 0 Half |
| Total Liv. Area: |
1,336 sq. ft. |
| Lot Size: |
12,080 sq. ft. |
$229,900
| MLS# |
1036850
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| Type: |
Single Family |
| Neighborhood: |
GEO WATERMAN |
| Beds: |
3 Beds |
| Baths: |
1 Full / 0 Half |
| Total Liv. Area: |
1,968 sq. ft. |
| Lot Size: |
30,000 sq. ft. |
Listed by:
Paul Miraglia
Keller Williams Realty
Office: 401-785-1700
$120,000
| MLS# |
1016749
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| Type: |
Single Family |
| Neighborhood: |
VILLAGE@WORDENS POND |
| Beds: |
2 Beds |
| Baths: |
2 Full / 0 Half |
| Total Liv. Area: |
1,512 sq. ft. |
| Lot Size: |
12,000 sq. ft. |
Listed by:
Mary Carocci
RE/MAX Flagship, Inc.
Office: 401-789-2255
$429,000
| MLS# |
1036263
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| Type: |
Condo |
| Complex Name: |
RESIDENCE@FENNER HILL |
| Beds: |
2 Beds |
| Baths: |
2 Full / 1 Half |
| Total Liv. Area: |
2,800 sq. ft. |
| Style Type: |
Town House |
Listed by:
Janis CAPPELLO
COLDWELL BANKER RESIDENTIAL BR
Office: 401-884-8050
$249,900
| MLS# |
1033660
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| Type: |
Single Family |
| Neighborhood: |
KENT HEIGHTS |
| Beds: |
3 Beds |
| Baths: |
1 Full / 1 Half |
| Total Liv. Area: |
1,792 sq. ft. |
| Lot Size: |
16,961 sq. ft. |
$439,000
| MLS# |
1038994
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| Type: |
Single Family |
| Neighborhood: |
PINE MEADOWS/MT LAUREL |
| Beds: |
4 Beds |
| Baths: |
2 Full / 1 Half |
| Total Liv. Area: |
2,361 sq. ft. |
| Lot Size: |
28,314 sq. ft. |
Listed by:
Donna Sabitoni
Fieldstone Properties, Inc.
Office: 401-295-0300
$574,500
| MLS# |
1013982
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| Type: |
Single Family |
| Neighborhood: |
WESTERN |
| Beds: |
4 Beds |
| Baths: |
2 Full / 2 Half |
| Total Liv. Area: |
3,300 sq. ft. |
| Lot Size: |
517,057 sq. ft. |
Listed by:
Janis CAPPELLO
COLDWELL BANKER RESIDENTIAL BR
Office: 401-884-8050
$1,595,000
| MLS# |
962990
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| Type: |
Single Family |
| Neighborhood: |
EASTON'S POINT |
| Beds: |
3 Beds |
| Baths: |
2 Full / 1 Half |
| Total Liv. Area: |
2,600 sq. ft. |
| Lot Size: |
14,706 sq. ft. |
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2009 Stimulus Incentives
The federal government has enacted several initiatives aimed at helping home buyers.
Most of these incentives are temporary so if you’ve been on the fence about
jumping into the real estate market, there’s no better time than the present!
Homebuyer Tax Credit
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The American Recovery and Reinvestment Act provides for a tax credit equal to ten
percent of the cost of the home, up to a maximum credit of $8,000.
The credit is available to people who have not owned a home in the past three years
for the purchase of a principal residence on or after January 1, 2009 and before
December 1, 2009.
The credit does not require repayment if the buyer remains in the home for three
or more years. 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. 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.)
Most of the mechanics of the credit will be the same as under the 2008 rules: the
credit will be claimed on a tax return to reduce the purchaser's income tax liability.
If any credit amount remains unused, then the unused amount will be refunded as
a check to the purchaser.
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IRS Video On Tax Credit
View the video below to get all the details about this valuable new credit and how
it can put more cash in your pocket at tax time.
View video in a new window »
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First-Time Homebuyer Tax Credit - FAQ's »
- PDF
www.federalhousingtaxcredit.com
FHA, Fannie Mae and Freddie Mac Loan Limits
The current non-jumbo loan limits for FHA, Freddie Mac, and Fannie Mae loans in
Rhode Island is $475,000. These 2009 limits will expire December 31, 2009.
Neighborhood Stabilization
The
Rhode Island Housing Resources Commission
offers information about low interest loans available through the Neighborhood Stabilization
Program for the purpose of purchasing, managing, renovating and selling foreclosed
and abandoned properties. The program also offers up to twenty percent of the price
of the home to be used for the down payment or repairs for properties within specified
census tracts. After purchase, the homes must be used to assist individuals and
families with incomes at or below 120% of area median income. Twenty-five percent
of funds must be used for households with incomes at or below 50% of area median
income.
Fannie Mae Eases Investor Loan Limits
Due to a policy change announced in February, 2009, Fannie Mae will now allow borrowers
to take out loans for up to 10 investment or second home properties, up from a maximum
of four.
Energy Efficient Housing Tax Credits & Grants
If you’re interested in a property that may need a new furnace, windows or
insulation, you should know that through 2010, homeowners will be able to claim
a 30% tax credit (up from 10%) for these purchases. Another $5 billion will be made
available through the American Recovery and Reinvestment Act to modernize the nation’s
electricity grid and install smart meters on homes that help to save consumers money.
There is also $5 billion for weatherization assistance for low income households
and $2 billion for federally assisted housing (section 8) efficiency efforts. For
more information about accessing funding for promoting energy efficiency, go to
http://www.riselink.com.
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