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Foreclosure - COLUMBIA HEIGHTS/PETWORTH METRO

$206,000

Address: 652 Newton Place NE #1	City/ST: Washington, DC	Zip Code: 20009
Property Type: Condo	New or Resale: Resale	Square Footage: 1200
Bedrooms: 3	Bathrooms: 3	MLS# DC7165578

***BANK OWNED***3BR-3BA Duplex that has 2Br-2BA on the lower level, and 1BR-1BA on the upper level. Unit has been well maintained, but needs minor cosmetics to really shine.

Last Updated: 10/9/2009 1:57:07 AM

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Tax Considerations >Tax Reform

Owning a home still offers significant tax benefits. If you are renting, it may be a good time to sit down with a professional real estate agent to see how much you can save each year by owning your own home.

You save in two ways when you purchase a home. Even though most interest deductions have been phased out, home mortgage interest and state and local property taxes can be deducted. The interest on a home equity loan may also be deductible.

Your real estate agent can show you how these savings will apply in your situation. You may be pleasantly surprised when you compare the tax savings you will receive as a result of owning your home, and you will build up equity as your home appreciates in value! Also, first-time buyers will see expanded rules for Individual Retirement Accounts (IRA) and 401(k) plans, allowing penalty-free withdrawals to purchase a home in the Taxpayer Relief Act passed in August, 1997. Consult your tax advisor for your particular circumstance.

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Q	Whose mansion sold for about $2 million after just one day on the market?
A	Soon after the death of George Burns his home was put on the market; the home sold in 24 hours.
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Terrence Boykin, REALTOR�, real estate agent and broker for Washington DC, Montgomery County and Fairfax County, Maryland home listings, property and land for sale - NUMBER1EXPERT

Terrence Boykin
RE/MAX 2000 Realtors
11900 Parklawn Dr.
Rockville, MD 20852
202-256-6509
Fax: 202-355-7544
terrenceboykin@NUMBER1EXPERT.com

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