The Fight Is Over.. The Metro Is Coming To Loudoun!
March 11th, 2009 Categories: Local Issues
Victory is ours… along with the spoils. Thought it will take around 6 years of birth pains to reap the benefits, the silver line received the federal funding to come to Loudoun County yesterday!
Construction is beginning in the Tysons Corner area and it will not be pretty. Dust, slow traffic, cranes, a road cones excite very few people. However, when these trains are hosting 60,000 riders a day from Loudoun to DC I am sure we will all consider it to have been worth the hastle. I can’t imagine people calling me because they want to live close to the Metro in Ashburn…
Read More Here.
New Express Bus From Loudoun To Tysons Corner
The DC Metro Demand And Supply Issue
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It Is Time To Push Your Uncle… For A Few Pennies
March 6th, 2009 Categories: Local Issues
When someone sells their home in Virginia, they are required to pay a special tax to the government called a “GRANTORS TAX.“ A seller will pay $1 for ever $1,000 that the home sold for… OR… the current tax assessed value is. WHICHEVER IS HIGHER.
The Virginia Association of Realtors has been fighting for homeowners so that they pay the bill based upon what the home sells for. This is typically lower than the assessed value. Typically.
The update on the issue is that it will be RE-CONSIDERED before the 2010 General Assembly. It is my understanding that Governor Kaine would also have to sign off on this. Keep in mind that Kaine was the one that tried to raise the tax to $5 per $1000 of what the home sold for until the Virginia Supreme Court say no. This is a time to get your feet wet. Contact your local government and let your voice be heard. You will be selling at some point. Sellers are already taking a bath when selling. The least the government can do is not add to this cost with taxes based upon the highest rates possible.
Contact Governor Kaine Contact Senator Jim Webb (mention senate bill 1157) (house bill 2135)
What It Takes To Win A Foreclosure…
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What Are The Catches For The $8,000 Tax Credit?
February 9th, 2009 Categories: Buyers, Local Issues
To help stimulate the economy, the Senate voted last week to increase the tax credit for buyers from $7,500 (the amount given last year) to $8,000. Before you go out and purchase a new car on credit… you may want to consider a few credentials first.
The credit would give buyers up to 10% of their home purchase price up to $8,000.- The home must be purchased between April 8, 2008 and July 1, 2009.
- Taxpayers who owned a home any time during the three years prior to the date of purchase are not eligible for the credit.
- First time buyers AND those who have not purchased in the 3 years prior are eligible for the credit.
- Vacation homes and rental homes do not qualify.
- There are now income limits for those who will qualify for this loan. Check with your tax professional or the IRS regarding these limits.
*** This data is liable to change. Check with your tax advisor to verify it. Here is another helpful website…. http://therealestatebakery.com/2009/02/24/first-time-buyer-tax-credit-explained-and-updated/
Loudoun County School Reviews & Highlights
Top 10 Signs You Need A New Real Estate Agent
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Loudoun Tax Assessments Leave The County With A Predicament
January 26th, 2009 Categories: Local Issues, Loudoun County
Our local Loudoun housing tax assessments were mailed out last Friday. A few highlights…
- All taxable property has dropped by an average of 9.3%.
- Residential properties were down 14.7% on average.
- Condo’s were down 24.1% on average.
- The Sterling district fell by 31.1% (the highest drop). The second highest drop was in Leesburg 22.8%.
Because of these declines, the property tax rate would need to increase from $1.14 to $1.33 per $100 assessed value to cover the budget. 2008 already had the largest increase in property taxes, a 19% increase. Do we really need another one?
I am not against taxes. There is a price to pay to have the great services Loudoun offers. However, once this real estate market rebounds (which it will) these tax rates will not decrease and our taxes will soar. Maybe it is time to consider cutting back during a time of recession instead of trying to maintain the same level of government activity while times are tough. Is this not what you do when money is tight? Why should our government not do the same thing? This is not weakness for Loudoun… This is Wisdom, and it will be why this area continues to thrive in the long run….
Loudoun County Home Sale Stats
Loudoun County 2008 Property Tax Increase
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All Aboard… The Silver Line Is Getting Closer
January 9th, 2009 Categories: Local Events, Local Issues, Loudoun County
One small small stamp for Mary Peters, one huge step for northern Virginia.
Mary Peters gave the thumbs up on what many in this area have been hoping for, for a long time… The Silver Line extension of the metro. This is a 23 mile track that will extent from Falls Church to Loudoun County. It is predicted to ease the current traffic congestion by hosting 60,000 riders a day on its trains.
The first section of the track is to be completed by 2013 running from Tysons Corner to Reston. The completion continuing to Loudoun County should be finished within the following 2 years. This is obviously not as quick as originally planned, but hey… we almost lost the chance of having this train all together.
Read whole article here.
How Much Do Interest Rates Affect Your Price?
Brambleton And Broadlands (20148) Home Sales Stats
Photo from loudounextra.com
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