House completed January 2003, extensive renovations done in 2006 and 2007

GROUNDS:

Underground cables for: power, telephone, cable, driveway lights, cartel driveway alert, power to pool area.

4 bedroom septic system, with a 5 bedroom tank for future expansion

Artesian well – 10 gpm, 200’depth- installer = Foss well drilling

12 x 60 gunite swimming pool with 3 lights, 2 skimmers, thermal blanket, chlormatic chlorine generator, Polaris pool self cleaner hookup (future use) and Heat Pro heat pump heating system.

Lighting around pool and in trees below

Stone walls

Extensive landscaping

Stream running through bottom part of property

Property contiguous to Steep Rock Association, Inc. which offers extensive hiking trails.

HOUSE:
EXTERIOR:

Cedar shingles on walls and roof, cedar trim and aprons

Copper gutters

Marvin windows, ultimate/wood

Loewen doors

Screened porch with removable panels

Fieldstone veneer on all visible foundation walls and chimney

Extensive drainage work installed
MECHANICAL:

2 zone hydronic warm air with cooling, 2 zone radiant heat in all slabs (lower level and garage)

Propane fired Boiler – Viessman Boiler installed in 2007

Central air condition

Humidifier for hydronic system

Water filter

Steam generator in shower on first floor

Ownen generator with automatic transfer switch

Alarm system connected to central

Kitchen appliances: miele, sub zero

Bathroom fixtures: Boffi and Vola
INTERIOR:

2 fireplaces (living room fireplace is working, lower level fireplace has been sealed)

Laundry room lower level and 2nd floor

5 zones wired for speakers

2 car heated attached garage

Brazilian teak (Cumaru) hardwood floors

Exercise room lower level

Ultra touch insulation lower level ceiling and walls.

Pietra Serana stone counters

Room Description size level

Kitchen 16×9 Main

Living/Dining Room 29×19 Main fireplace

Den or 4th Bedroom 17×14 Main Full Bath with Steam Shower

Master Bedroom 15×14 Upper Full Bath, Built in dresser

Bedroom 14.7×11 Upper

Bedroom 14.6×12 Upper

Full Bath Upper

Family Room 22.9×15.6 Lower fireplace (non working)

Full Bath Lower

Exercise Room Lower

Laundry room (2) Upper and Lower Miele washer/dryer

Mechanical room Lower

Taxes paid 2009———-$10572.00

Assessed value———-$983,480.00

This exceptional 83.54 acre property is located 90+ miles from New York City. Situated in the tri-state corner of Mass., Conn. And New York in the town of Northeast, just 5 miles from the Victorian village of Millerton. A very private and tranquil setting with beautiful mountain and pastoral views. Convenient to most major show grounds and racetracks in the area with easy access to major interstate highways. Just minutes away from northwest Connecticut and southwest Mass. Hike the Appalachian Trail, play golf, Tanglewood,/ Boston Pops Concerts, antiques and gourmet dining; just a few possibilities. private schools available nearby. It is easy to commute to New York City from Millerton. The Harlem Valley Railroad line begins in Wassaic, with service to NYC.

A high pitched hip roof and central dormer all combine to create a classic Country French look that is perfect for today’s lifestyle.. This charming stucco home brings to mind old world, European style. Completed in late 1994.

Entering this classic through the main entry door, guests stand in a gracious entry hall flanked by large openings and high ceilings revealing the living room and dining room.

The open space flows easily from the living room through a wide passage through divided French doors into the oversized family and kitchen area.

A private passageway, past the powder room, opens into a beautiful sitting room lined with windows and a door opening to a rear courtyard. Beyond is the master suite with a large bedroom accented with high ceilings, large bathroom and doublewide closet.

Upstairs, above the main living areas, are two large bedrooms, each with its own bathroom and walk-in closet. A second stairway off the utility area near the kitchen leads to an extra room above the garage. It’s a perfect studio for those who like to work in solitude, or perhaps, it could be a game room for the children.

Offered for sale at $1,295,000.00- Broker owned. Please contact broker for more info at 518-789-6297
Main Level:
Entry-6’0″x 21′
Living Room – 15′ x 19′-8″
Dining Room- 14’8″x 14′
Kitchen/family Room – 16′x 37′
Sitting Room- 10’6″x 15′
Master Bedroom – 18′ x 15′
Master Closet – 10′x 15′
Master Bathroom
Powder Room
Mud Room
Laundry Room – 8′ x 9′
Butler’s Pantry between Dining room and Kitchen – Lots of storage space.
Wet Bar between Living room and Family Room. – Custom built cabinets, sink and refrigerator.

Oak wide boards flooring through out. Ceramic tiling in Master Bathroom, utility and mud rooms. Custom cabinetry by Downsview in Kitchen and Pantry. Dacor Oven and ceramic glass cooktop. Kitchen Aid Dishwasher and Microwave. Italian Marble Tile Counter top. Kitchen has a built-in eating nook and desk space. Master Bathroom shower includes steam bath unit. Marble Bathroom vanity tops in Master Bathroom. Fireplace in Living Room with marble hearth. Built in bookcases in sitting room. Crown molding in main living area. Solid pine doors throughout house. French doors between Wet Bar and Family Room and entry to master suite area.
Upper Level:
Bedroom #2-17′x 18′
Bedroom #3- 13’6″x 16’8″
Each bedroom has a full bathroom and large walk-in closet.
Wall to Wall Navy Blue carpeting in both bedrooms. Hallway and stairwell is Oak flooring.
Studio above garage:
15′x28′
Wall to Wall Carpeting. Can be additional bathroom.
Two Car garage.
42′ x 38′ unfinished basement.
Utility Information:
Four Zoned heating and central air conditioning system. There are four Ruud air-cooled condensing units. A Weil-Mclain high efficiency oil burner, hydro wall design. Super Stor 60-gallon indirect water heater. Residential water softener system. Humidifier in master bedroom and main living areas. 400 amp electric underground service. Multi telephone lines. Propane Gas Generator back-up power.

Apx. Annual Expenses:
Taxes: $ 11482.31= school taxes, $7031.77 = property taxes. ag.exemptions and senior star exemptions apply. Total taxes paid 2009-2010 =$18514.08. full market value as of July 1, 2009= $1,363,243., assessed value = $1,261,000. ,uniform percentage of value used is 92.50%
Exterior Wall Surface Information:
Synthetic stucco-Finestone Exterior Wall Surfacing Systems- Impact R
Features: high impact resistance, high R-value and mechanical fasteners
High impact resistance of a full %” of base mortar and pebbletex finish, the high r-value of an extruded or
expanded polystyrene foam and the positive attachment of mechanical fasteners.
Exterior Windows and Doors:
Loewen Windows Heat Smart and Heat Smart Plus System: Double glazed, sealed glass unit with low emissivity coating and 1 argon gas filled airspace. Heat Smart Windows are designed to help reduce the cost of heating your home in winter by minimizing heat loss from inside your home, while providing heat gain from direct sunlight. Heat Smart Plus Windows are designed to help reduce your air conditioning bills in the summer by deflecting radiated heat from the outside of your windows, while minimizing heat gain from direct sunlight.Loewen’s low maintenance, prefinished extruded aluminum cladding attaches to the exterior of Loewen windows and door frames, thereby eliminating the need for painting and regular maintenance.

BARN INFORMATION:

80’ x 30’ 12 stall barn

Stalls are 10’ x 10’ with white pine boards. Stalls can be easily enlarged. Rubber stall mats in each stall.

1- 20’ x 10’ heated tack room with sink-hot and cold water
1 – 10’ x 10’ wash rack with hot and cold water
1 – 10’ x 10’ feed room

Separate utility service to barn.

80’ x 30’ Hay/storage loft above stalls. Barn has a full foundation. Slab flooring in tack, wash and feed rooms. Exterior finish on barn is Hardipanel. Hardipanel vertical siding is a durable, fiber-reinforced cement sheet. Hardipanel siding is NON COMBUSTIBLE.

24’ x 24’ tractor/ storage shed next to barn

180’ x 60’ outdoor riding ring

2 large pastures fenced with split rail. Two pastures have run in sheds.

• 

  Keep Your Home Purchase on Track

  You’ve found your dream home. Make sure missteps don’t prevent a successful closing. Read

• 

  Understanding Real Estate Representation

  Whether you’re buying or selling, it’s important to choose representation that meets your needs in the transaction. Read

• 

  4 Tips to Determine How Much Mortgage You Can Afford

  By knowing how much mortgage you can handle, you can ensure that home ownership will fit in your budget. Read

• 

  7 Tips for Improving Your Credit

  Here’s how to clean up your credit so you get the least-expensive home loan possible. Read

• 

  7 Steps to Take Before You Buy a Home

  By doing your homework before you buy, you’ll feel more content about your new home. Read

• 

  Landscaping for Curb Appeal

  A well-landscaped yard creates curb appeal and helps your property retain maximum value. Read

• 

  7 Gardening Mistakes to Avoid

  Novice gardeners can get their landscapes off to a healthy start by heeding some tried-and-true tips from the pros. Read

• 

  Lawn Maintenance Calendar

  Regular lawn maintenance gives your home maximum curb appeal and preserves the value of your property. Read

• 

  Save Money with Your Edible Garden

  An edible garden featuring vegetables and herbs can save you a bundle if you keep it simple and raise plants that offer high yields. Read

• 

  10 Tips for Saving Money in the Garden

  Smart landscaping strategies can save you money while they add to the curb appeal and value of your home. Read

• 

  Keep Your Home Purchase on Track

  You’ve found your dream home. Make sure missteps don’t prevent a successful closing. Read

• 

  Understanding Real Estate Representation

  Whether you’re buying or selling, it’s important to choose representation that meets your needs in the transaction. Read

• 

  4 Tips to Determine How Much Mortgage You Can Afford

  By knowing how much mortgage you can handle, you can ensure that home ownership will fit in your budget. Read

• 

  7 Tips for Improving Your Credit

  Here’s how to clean up your credit so you get the least-expensive home loan possible. Read

• 

  7 Steps to Take Before You Buy a Home

  By doing your homework before you buy, you’ll feel more content about your new home. Read

Motivated Sellers and Inventory

Now is an ideal time to buy, in most markets prices won’t go any lower

and there is an abundance of inventory. Inventory of homes for

sale is at a 15-year high. There are many options out there for

many buyers and many sellers who are willing to negotiate and work

towards a win-win situation that works for both parties.

Go to www.REALTOR.com to see over 4 million active listings.

The Market is Getting Stronger and

Every Market is Different

Remember that all real estate is local and that all markets are

different. There are opportunities out there for a buyer if you’re

willing to look. The Homebuyer Tax Credit contained in the Housing

and Economic Recovery Act of 2008 was updated in the American

Recovery and Reinvestment Act of 2009. For 2009 purchasers

the credit is $8000 and does not need to be repaid. The credit is

available through December 1, 2009, meaning qualified buyers

only have a short window of opportunity to take advantage of this

special program.

A modest recovery for existing-home sales is expected

in 2009. Pent-up demand, coupled with an abundance of safer

mortgage products, will lead to near-term market improvements.

The Emergency Economic Stability Act enacted on October 3, 2008

will help to improve credit markets and allow housing to lead the

economic recovery.

FHA Loans Set to Increase

There are many choices for buyers looking for mortgages in this

market. One option, FHA home loans, are a viable alternative for

many first time buyers. The Federal Housing Administration (FHA)

— which is part of HUD — insures the loan, so your lender can

offer you a better deal, offering low down payments, low closing

costs, and easy credit qualifying. FHA market share for home

purchases is expected to rise significantly over the next 3 years, from

an estimated 4% in 2007 to an estimated 35% in 2009.

Find out about FHA and other loans, go to www.Hud.gov/buying/loans

and www.REALTOR.org and do a search for Consumer Literacy.

Benefits of Ownership

Owning a home is the American dream. It not only provides amazing

tax benefits but it also provides shelter and security to families. Did

you know that:

— Dollar for dollar, the rate of return on an individual’s cash

down payment on a house is substantial? And that repeat

buyers are able to put 19% more down on a new home due

to appreciation?

— Home owners move less often and are more likely to vote

and volunteer time for political and charitable causes than

renters?

— When you own a home you can deduct the property taxes and

mortgage interest from your income taxes?

— The gains that you make on a primary residence that you’ve

occupied for two years out of 5 can be tax free?

Housing Market Facts

NAR has created a new website www.HousingMarketFacts.com to

help consumers find out the latest information about the housing

market and the issues that affect you, information specifically for

buyers, how to do more research, and learn more about the benefits

of home ownership.

Mortgages are at Historically Low Rates

For buyers who qualify, mortgage rates are near historical

lows. Rates are well under 6%. According to data provided by

Freddie Mac, rates averaged 9.2% in the past 30 years.

Go to www.FreddieMac.com and look at the Primary Mortgage

Market Survey® for more information on the latest rates. In addition,

low interest rates, coupled with recent corrections, give people

looking to upgrade a unique opportunity to take advantage of

market conditions.

The Value of Your Investment

Despite some contrary media reports and some moderate losses in

value in the short-term, home values long-term have and

will continue to rise. Real estate is a long-term investment.

Home values could fall in some years, though, on average over the

past 30 years, the median price of existing homes has increased

more than 6 percent every year. Thanks to the power of leverage,

a homeowner’s return on investment is even more impressive over

time. Visit www.HousingMarketFacts.com to learn more. Talk to your REALTOR®

today about helping you achieve the American dream!

Under the guidance, FHA-approved lenders can develop bridge loans that home buyers can use to help cover their closing costs, buy down their interest rate, or put down more than the minimum 3.5 percent.

The loans can’t be used to cover the minimum 3.5 percent, senior HUD officials told reporters on a conference call Friday morning.

Thus, buyers applying for FHA-backed financing with an FHA-approved lender that offers a bridge-loan program can get a bridge loan to bring down the upfront costs of buying a home significantly but would still have to come up with the minimum 3.5 percent downpayment.

There remain many sources of assistance for buyers needing help with the 3.5 percent downpayment, including many state and local government instrumentalities and nonprofit lenders.

In addition, some state housing finance agencies have developed their own tax credit bridge loan programs, so buyers in states whose HFAs offer such programs can monetize the tax credit upfront to cover all or part of their downpayment. These programs are separate from what HUD announced today.

The first-time homebuyer tax credit was enacted last year–and improved upon earlier this year–to help encourage households to enter the housing market while interest rates are low and affordability is high. The credit is worth up to $8,000 and is available to households that haven’t owned a home in at least three years. The credit does not have to be repaid, and is fully reimbursable, so households can get their credit returned to them in the form of a payment.

Learn more about the credit, including how to apply for it this year even if you’ve already filed your taxes, at REALTOR.org. ]]> http://columbiacountydutchesscountyrealestate.com/index.php/2009/06/hud-tax-credit-can-be-used-on-closing-costs/feed/ 0 http://columbiacountydutchesscountyrealestate.com/index.php/2009/02/homeownership-tax-benefits/ http://columbiacountydutchesscountyrealestate.com/index.php/2009/02/homeownership-tax-benefits/#comments Tue, 03 Feb 2009 23:07:01 +0000 charlene http://www.columbiacountydutchesscountyrealestate.com/?p=286 Tax Benefits of Homeownership

The tax deductions you’re eligible to take for mortgage interest and property taxes greatly increase the financial benefits of homeownership. Here’s how it works.
Assume:
$9,877 = Mortgage interest paid (a loan of $150,000 for 30 years, at 7 percent, using year-five interest)
$2,700 = Property taxes (at 1.5 percent on $180,000 assessed value)
______

$12,577 = Total deduction

Then, multiply your total deduction by your tax rate.
For example, at a 28 percent tax rate: 12,577 x 0.28 = $3,521.56
$3,521.56 = Amount you have lowered your federal income tax (at 28 percent tax rate)

Note: Mortgage interest may not be deductible on loans over $1.1 million. In addition, deductions are decreased when total income reaches a certain level.

 year # of sales       av.asking price av.selling price    av. Lot size    av. Per ac. Sale
2001      3                   $29,000.00       $25,333.00         1.5                  $16,888.66
2002     13                  $37,753.00       $34,250.00         2.84                $12,060.00
2003       3                  $55,833.00       $52,666.00         3.63                $14,509.00
2004       7                  $59,271.00       $59,000.00         3.6                  $16,344.00
2005       3                  $79,666.00       $79,666.00         2.33                $34,191.00
2006       3                  $131,500.00     $111,500.00       2                     $55,750.00
2007       2                  $160,000.00     $138,500.00       2.3                  $60,217.00
2008       1                  $75,000.00         $75,000.00       5                     $15,000.00

2001 0
2002 2 $35,000.00 $30,000.00 6.40 $4687.50
2003 2 $226,750.00 $210,370.00 36.9 $5701.08
2004 3 $715,000.00 $671,666.00 79.23 $8477.42
2005 2 $317,500.00 $277,550.00 13.65 $20330.00
2006 4 $330,000.00 $291,750.00 14.6 $19982.87
2007 4 $309,975.00 $280,375.00 21.15 $13256.00
2008 no sales