Delaware Valley Real Estate - OnPoint with Letitia Stevenson

Hummers Parade (January 1, 2010) - Local Event (Middletown, DE) 

Looking for fun family activities this Holiday Season? Try The Hummers Parade! With tongue-in-cheek tributes to politicians, celebrities and more, this spoof on Philadelphia's Mummers Parade steps off at 1 p.m. on January 1st at Broad and Main streets in Middletown.

• When: Jan 1, 2010, 1:00 PM
• Where:  Main and Broad streets, Middletown, DE
• More Information:  Please call 302.218.8588

While the accuracy of this information is deemed reliable, remember to always call ahead to confirm dates, times, location, and other information.

Have a Wonderful Holiday Season and a Happy New Year!

The Pond Ice Skating Arena (December 30, 2009 to January 3, 2010) - Local Event (Newark, DE)

Looking for fun family activities this Holiday Season? Try The Pond Ice Skating Arena! It's in Newark offers skating for the public on Wed., Thurs. and Fri. from 11 a.m.-12:30 p.m.; on Sat. and Sun. from 1-3 p.m.; and on Friday night from 8-10 p.m. Friday night is "Cosmic Skate" with lights, a DJ and more.

• Where: The Pond Ice Arena, 101 John F. Campbell Dr., Newark, DE
• More Information:  Please call 302.266.0777 or visit http://thepondicearena.com

While the accuracy of this information is deemed reliable, remember to always call ahead to confirm dates, times, location, and other information.

Have a Wonderful Holiday Season and a Happy New Year!

First Time Home Buyer Seminar - Delaware (January 23, 2010)

Attend a FREE First Time Home Buyer Seminar! And, Get Your Questions Answered!

Register for one of the two First Time Home Buyer Seminars:

DATE: Saturday, January 23, 2010

LOCATION: New Castle County, DE

(Click below "Seminar Sign Up" for Location Details)

TIMES: 10:00am - 12:00 pm  (1^st Seminar), 1:00pm - 3:00 pm (2^nd Seminar)

Each First Time Home Buyer Seminar will cover:

The Basics: The Home Buying Process

Mortgages: How They Really Work

Financing: FHA Loans, VA Loans, and Other Financing Options

Credit: Understanding and Improving Your Credit Score

$8,000 Tax Credit: How it Works and How to Use It, and More

Each attendee will receive:

Free Home Buying Guide

Additional Tips and Resources

Local Market Reports

Opportunity to Meet with Industry Professionals

YouTube Now Has Its Own Short URLs: YouTu.be

YouTube has launched its own url shortener "YouTu.be" which can only work with YouTube videos. The url  shortener will be generated whenever you favorite a video or upload a clip and use the authoshare feature on YouTube. No third party needed - alerts will be syndicated on your other social networks (e.g., Facebook and Twitter) with the shortened Youtube url.

You can also manually create short urls by simply taking a URL like http://www.youtube.com/watch?v=4xA1wlJjJKA and replacing the http://www.youtube.com/watch?v=" with "http://youtu.be/" to get http://youtu.be/4xA1wlJjJKA.

For more information on Youtu.be, please visit YouTube's blog site.

Season's Greetings! A season of joyful traditions and the start of a new year - what better time to pause and reflect on the past year, celebrate the present and plan for the future.

As we embark on a journey into a New Year filled with promise, may we reflect, learn and grow. May the warmth of the holiday spirit and the love of family and friends bring peace, joy, wonder and delight. And, May the New Year be filled with happiness, good health, prosperity, and treasured moments.

Warmest thoughts and best wishes for a wonderful holiday and a very Happy New Year, Letitia

The National MS Society goal is to raise $215,000 by December 31st. Will you join the year-end campaign? Please give your gift today and help National MS Society meet its goal!

Your gift will support:

• Research to stop MS - such as projects that focus on immune aspects of MS
• Efforts to reverse the damage caused by MS
• Programs that impact the lives of people with MS and their families - such as physical and emotional wellness, community, education and financial assistance
• Work to make MS drugs more affordable
• Our goal to end MS forever

Learn more about multiple sclerosis and available options by talking to your health care professional and contacting the National MS Society at www.nationalmssociety.org or 1-800-344-4867. Also, check out your local chapter website for more information.

Thank You for Your Support and Happy Holidays!

In an effort to bring the Federal Housing Administration's reserves above the mandated 2% minimum, HUD's Secretary Shaun Donovan requested authority - from Congress last week - to tighten its FHA Requirements.

Although final numbers have yet to worked out, HUD is considering:

• Increasing down payment from 3.5% to 5%.
• Reducing maximum seller concessions from 6% to 3% and
• Raising minimum FICO score from 500 to 620

HUD may soon tighten FHA Requirements... What are your thoughts on this?

Delaware Property Transfer Tax Exemption - (Kent and Sussex Counties)

ATTENTION: Delaware First Time Home Buyers

Many Delaware municipalities and counties have enacted the 1½ percent tax, so generally the Delaware property transfer tax is a total of 3% (1½ percent to the State and 1½ percent to the county or municipality). This amount is split between the buyer and seller of real estate, unless the parties agree otherwise.

The State offers NO Property Transfer Tax Exemption; however, if you are a first time home buyer (FTHB) - have never previously owned property anywhere, you may qualify for an exemption of .75% of Kent or Sussex County transfer fee and recording fee for the deed and mortgage, which normally is 1.5% of the purchase price.

"First-time home buyer" means a natural person who, individually or as a co-tenant, has at no time held any interest in residential real estate, wherever located and which has been occupied as their principal residence, and who intends to occupy the property being conveyed as his or her principal residence within 90 days following recordation.

Additional Information:

City of Dover

• Transfer Tax
• First Time Home Owner Tax Incentive Brochure
• First Time Home Owner Form
• Realty Transfer Tax Ordinance

Kent County

• Kent County Recorder of Deeds
• Deeds Office: 302.744.2314; Assessments Office: 302.744.2401

Sussex County

• Sussex County Recorder Deeds
• Recorder of Deeds: 302.855.7785

Additional Resources:

• 2010 Fiscal Notebook Web Page (DE Finance Dept )
• Title 30, Delaware Code, Chapter 54

Information in this post is deemed reliable but not guaranteed. This post is for informational purposes only and is not a substitute for legal, tax or other professional assistance.

If you have any real estate questions, please contact me. Whether buying, selling, or just curious to learn more, I'm here to assist you.  Please contact me with your questions. I look forward to hearing from you.

Delaware Property Transfer Tax Exemption - Qualified AREAS (New Castle County)

Many Delaware municipalities and counties have enacted the 1½ percent tax, so generally the Delaware transfer tax is a total of 3% (1½ percent to the State and 1½ percent to the county or municipality). This amount is split between the buyer and seller of real estate, unless the parties agree otherwise.

The State offers NO Property Transfer Tax Exemption; however, the New Castle County has an exemption - .75% of county transfer tax fee - for first time home buyers (FTHB).

• In the City of Wilmington, you are a first time buyer eligible for the Property Transfer Tax Exemption if you have not purchased a residence in the City in the last three years.
• In unincorporated New Castle County, you can never have owned residential property anywhere (including other states or foreign countries) to qualify for the exemption.

AREAS THAT QUALIFY FOR FTHB EXEMPTION:

• 26 - City of Wilmington* (2-Digit Number Represent 1^st two positions on parcel number)
• UNINCORPORATED, New Castle County

AREAS THAT DO NOT QUALIFY FOR FTHB EXEMPTION:

INCORPORATED, New Castle County (2-Digit Number Represent 1^st two positions on parcel number)

• 15 - SMYRNA (Town) Note: Part of Smyrna is in Kent County
• 16 - ARDEN (Village)
• 17 - BELLEFONTE (Town)
• 18 - NEWARK (City)
• 19 - ELSMERE (Town)
• 20 - NEWPORT (Town)
• 21 - NEW CASTLE (City)
• 22 - DELAWARE CITY (City)
• 23 - MIDDLETOWN (Town)
• 24 - ODESSA (Town)
• 25 - TOWNSEND (Town)
• 27 - AREDENTOWN (Village)
• 29 - ARDENCROFT (Village)
• 30 - CLAYTON (Town) Note: Part of Clayton is in Kent County

Additional Information:

• NCC Deed Office 
• HELP LINE (302) 395-7700 

Information in this post is deemed reliable but not guaranteed. This post is for informational purposes only and is not a substitute for legal, tax or other professional assistance.

If you have any real estate questions, please contact me. Whether buying, selling, or just curious to learn more, I'm here to assist you.  Please contact me with your questions. I look forward to hearing from you.