10/10/2009

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The Washington Post Gets It Wrong On the $8,000 Buyers Tax Credit I know shocker right; I’m downing the Washington Post again??? It looks like the Post this time outsourced its latest Real Estate related article to writer Martha White who writes for the Slate Group on a variety of financial matters including Real Estate. Although, I read Slate regularly and find there content refreshing I found Martha’s latest article “Prolonging Home Buyers Tax Credit Will Prolong Recovery” simply uninformed and filled with funny math strung along by the thinnest of strings. One of the numbers Martha quoted off of a blog site she states in her article is that the actual cost of the $8,000 Tax Credit program is $43,000 per buyer because some buyers would have brought anyway. All I can say is; Wow really! There is actually a mathematical formula on a website that will tell me exactly what buyers intend to do before and after they buy? Is this like Nostradamus stuff? You know, after everything is said and done some "expert" will come out and says “you see this was predicted 500 years ago…duh”? Great, where were these experts say 2 years ago when the markets melted down? Can I use that same formula in Vegas? Or how’s about predicting what my 7 year old will do next on a soccer field? Here’s the bottom line, buyers and especially first time home buyers are moved by emotions and perceived opportunities. Physiology plays a huge part in the purchase of a home. Buyers want to know that the market is moving in the right direction and that they are not going rouge by buying to early( unlike Palin of course). It has also been my experience that one of the biggest barriers to home ownership is the down payment. This $8,000 tax credit gives those buyers on the...
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Neighborhood Spotlight: Belmont Country Club Ashburn, Va Belmont Country Club is one of only a handful of exclusive gated communities in the Eastern Loudoun County area. Nestled between Ashburn and Leesburg this community is directly off of Rt 7 and is only a few minutes away from the Greenway and the new Wegamans shopping center. Like most gated communities of this type Belmont Country Club boosts a full array of amenities such as a club house, tennis courts, pool, volleyball pit and of course what country club would be complete without the 72-par Arnold Palmer Signature golf course! History of Belmont Manor Belmont Country Club was named after the Manor that sits near the gated community. Belmont Manor traces its origin back to the early 1800’s as a plantation house and home to many notable residents. The Belmont Manor and its grounds are listed on the National Registry as a Historic place and is maintained by the Park Service. This should preserve the manor and the majority of the open space around the manor for future generations! The Developer Belmont Country Club was brought by Toll Brother from IBM in early 1995. Toll Brother built and designed the community as a high-end exclusive gated community. The single family homes start in the mid $900’s and can go up to $1.5 million. The townhouses (when they are available) are priced in the low $400’s with a few foreclosures selling in the $300’s recently. Overall Toll Brother’s threw in every possible amenity to make Belmont Country Club its signature high-end home development. You might notice when you first enter the neighborhood that all the lawns are just about prefect. This is no accident; Toll Brothers actually cuts and treats your lawn. No more worries about the one neighbor who can’t seem to take care of their yard. Also included...