Brought to you by

Filomena Thompson, CDPE

"I'm never too busy for your referrals."

Realtor
D 240-629-3105 / C 301-758-4617
FilomenaThompson@remax.net

www.FilomenaThompson.com

5300 Westview Drive, Suite 200

Frederick, MD  21703

MARCH 2010

TIME IS RUNNING OUT!

Tax Credits Provide Outstanding Opportunities for Home Buyers

http://www.federalhousingtaxcredit.com/

The Worker, Homeownership, and Business Assistance Act of 2009 has extended the tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence. It also authorized a tax credit of up to $6,500 for qualified repeat home buyers.

• Frequently asked questions about the $8,000 first-time home buyer tax credit.

• Frequently asked questions about the $6,500 tax credit for repeat home buyers.

• Some key points for prospective home buyers.

• Special rules that apply to members of the military, the foreign service and the intelligence community.

Opening the window to federal remodeling tax credits

(ARA) - The tax credit for energy efficient replacement windows and doors, originally introduced in 2009 as part of the American Recovery and Reinvestment Act, is set to expire at the end of 2010, making this year the best time for homeowners to replace their windows and upgrade the look and feel of their home.

Ply Gem, a leader in the building products industry, offers some tips and guidelines to help homeowners make the most of the energy efficient replacement window tax credit.

Homeowners can receive a tax credit worth 30 percent of the purchase price of qualifying energy efficient windows, up to a maximum of $1,500 if purchased and installed by Dec. 31, 2010.

To redeem the credit, be sure to save your invoice that shows a breakout of window and installation costs, the National Fenestration Rating Council (NFRC) labels from all windows and doors and the manufacturer's certificate.

Energy efficient windows that meet the tax qualifications offer more savings than a one-time federal tax credit. The Alliance to Save Energy says that sealing and insulating your house - including utilizing energy efficient windows - is a great first step to take when improving your home's energy efficiency. To learn more, visit www.plygemwindows.com or www.recovery.gov.
 

Courtesy of ARAcontent

Celebrating 50 years of saving lives with CPR

(ARA) - CPR has come a long way since the early days when cardiac arrest victims got air blown into their lungs with fireplace bellows, were rolled over a wine barrel or strapped across the back of a horse that galloped across a field. This year, the American Heart Association is celebrating the 50th anniversary of modern CPR: the combination of breaths and chest compressions that helps save lives.

Modern developments have simplified CPR (cardiopulmonary resuscitation), and anyone can learn Hands-Only CPR to help save the life when an adult suddenly collapses. There are just two steps for Hands-Only CPR: (1) Call 9-1-1; and (2) Press hard and fast on the center of the chest until professional help arrives.

You can visit www.americanheart.org/cpr to find out about instructor-led courses in your area or order CPR Anytime, an at-home CPR kit with an inflatable mannequin and an instructional DVD. For CPR instructions at your fingertips, download the Pocket First Aid & CPR application or the free Hands-Only CPR application available for the iPhone or Google Android.

Courtesy of ARAcontent

You can still get scholarships - here's how

(ARA) - A slow economy and dwindling resources for financial aid may have you worrying more than ever about funding your child's college education. But there are still scholarships available for those who pursue them and take the all-important step of applying long before the school year starts.

Applying for scholarships should be one of the first steps in your search. However, scholarship myths continue to flourish and need to be dispelled.

Myth 1: Billions of scholarship dollars go unclaimed.
In reality, the number of unused scholarships is minuscule. You'll need to do your research and apply early to have a chance at getting your share of available funding.

Myth 2: Scholarships go only to the best students.
Many scholarships are awarded based on elements other than academic achievement. Some scholarships are based on the student's major field of study, involvement in extracurricular and community activities, ethnicity and geographic origin, or other factors.

Myth 3: Scholarship searches are worth paying for.
This myth eventually will die as people discover the many free resources available on the Internet or in the print media.

So how do students and their parents sort through the myths and get to the facts? Start the process early - January is perfect for the next school year - and utilize the resources around you. To find scholarship opportunities, start with your high school guidance counselor and local library for a list of possible resources. Next, check with your college financial aid office. Most states and many colleges offer scholarships, so students should also inquire about them. Finally, the Internet and organizational Web sites are excellent places to search. Remember, this information should always be free.

Don't count yourself out just because you are not the valedictorian, class president or star athlete. There are scholarships available for many interests, backgrounds and abilities. The bottom line is apply now, and the more scholarships for which you apply, especially local and regional opportunities, the better your odds are to be selected.

Though the scholarship application process can be time consuming, most scholarships require similar information. Once you complete your first application, you can easily re-use the same information for additional scholarships.

Scholarships come from many sources, but the student may have to do some detective work to uncover them. For example, at www.usbank.com/studentloans, you can apply to be one of 40 high school seniors or college undergraduates to receive a $1,000 U.S. Bank Internet Scholarship. Over the past 13 years, U.S. Bank has awarded more than $350,000 in scholarship funding for this program. Scholarship award recipients are selected through a random drawing process. There are no essays to complete or minimum grade point average requirements. The U.S. Bank Web site also features a powerful scholarship search engine.

Scholarship search tips

* Start early - Experts recommend college-bound students and their parents start looking as early as their freshman year in high school. By identifying potential awards, students can choose classes and activities that will increase their chance at winning a specific award in the future.

* Use the Internet - But be wary of scams posing as scholarships. If a scholarship is reputable, you should be able to find information about it through multiple sources. Try to use two sources and make sure the profile submitted is accurate; paying fees does not increase your chances of winning.

* Think small - Competition can be tough for large awards. Smaller awards ($1,000 and less) typically have less competition and are easier to obtain.

Additional free scholarship Web sites you may want to visit include:

* www.collegeboard.com/scholarships
* www.collegeplan.org
* www.collegescholarships.com
* www.collegenet.com
* www.scholarships.com


Courtesy of ARAcontent

When it comes to home improvement, small projects pay off

(ARA) - Current economic conditions have forced many families to re-evaluate their spending habits and cut back in certain areas. But some things, like home improvement projects, can't be pushed off quite as easily.

Protect your largest investment
Your home is your largest investment and no matter what the economic conditions, you don't want to cut corners on projects around the house. Taking the time to do these projects right the first time will not only ensure the safety and well being of your family, but it will also ensure your financial security for years to come.

Upgrade your house without upgrading your bills
Although many home improvement projects appear to be simple, they often require tools that most weekend warriors don't have just lying around. And since you will most likely only need the tools or equipment once, renting is a much more cost-effective solution than buying new or hiring a handyman.

Find your local rental store
To make finding the rental store nearest you even easier, the American Rental Association (ARA) offers RentalHQ.com, the world's largest and most comprehensive rental store locator. Don't let your biggest investment become your biggest burden - maximize your investment while cutting your costs with rental.
 

Courtesy of ARAcontent

Time to sell? Your outdoor spaces can be the bonus buyers want

(ARA) - If you really want to sell your home, make it stand out by showcasing your outdoor spaces. Real estate pros say most decks, patios, and porches are not presented to their full advantage. That's an easy fix and something that makes your home stand out to buyers.

On the flip side, a worn deck looks like work, so fixing it up is worth the effort. Attractive, low-maintenance, and green all add value. Try an earth-friendly product like Latitudes Capricorn composite decking. It looks like tropical hardwoods, which is the hottest trend in low maintenance decking, so it will update your home instantly.

While you're updating, add some energy efficient recessed lighting into the deck surface or steps, or bring the living room outdoors with Tiffany-style glass post lights from Deckorators that easily install over deck or fence posts of virtually any size. With LED bulbs, the lights last for years. They add safety and ambiance - something homebuyers appreciate.

Bonus areas can set your home apart and add value, so play them up big this spring to help sell your house. For more ideas and a wide variety of deck products, visit www.latitudesdeck.com or www.deckorators.com.
 

Courtesy of ARAcontent

In this issue

  - Tax Credits Provide Outstanding Opportunities for Home Buyers

  - Opening the window to federal remodeling tax credits

  - Celebrating 50 years of saving lives with CPR

  - You can still get scholarships - here's how

  - When it comes to home improvement, small projects pay off

  - Time to sell? Your outdoor spaces can be the bonus buyers want

  - Recipe of the month - IRISH STEW

  - Stop Foreclosure

RESOURCE CENTER

LENDERS

Dawn R. Cameron
Home Mortgage Consultant
Renovation Specialist
Wells Fargo Home Mortgage

O: 631-382-2248

C: 631-860-4845

dawn.r.cameron@wellsfargo.com

RECIPE OF THE MONTH

Irish Stew

Yield: 6 servings

Ingredients

·         2 medium-sized onions, chopped

·         Oil, for frying

·         1-ounce butter

·         1 sprig dried thyme

·         2 1/2 pounds best end of lamb neck, cut into large pieces

·         7 carrots, chopped lengthways into 2-inch pieces

·         2 tablespoons pearl barley

·         5 cups chicken stock, recipe follows

·         Salt (recommended: Fleur du Sel)

·         Freshly ground black pepper

·         1 bouquet garni (parsley, thyme, and bay leaf)

·         12 medium potatoes

·         1 bunch parsley, leaves finely chopped

·         1 bunch chives

·         Serving suggestion: herb butter, recipe follows

Directions

In a large heavy-bottomed saucepan, cook the onions in oil and butter, on medium-high heat until they are translucent. Add the dried thyme and stir. Add the lamb and brown on a high heat to seal in juices. Add carrots, and pearl barley. Pour in the chicken stock so that it almost covers the meat and vegetables. Season with salt and pepper, and add Bouquet garni. Cover and cook on low heat for 2 hours, being careful not to boil. Place potatoes on top of the stew, cover and cook for 30 minutes until the meat is falling beautifully off the bones and the potatoes are fork tender.

Serve the stew in large flat soup bowls, and drizzle herb butter over the potatoes or garnish with parsley and chives.

Stock:

Chicken carcass

1 onion

4 cups water

3 stalks celery, roughly chopped

Bay leaf

Salt and freshly ground black pepper

Preheat the stockpot. Combine ingredients in a large heavy-bottomed saucepan and cover with water. Bring to boil and simmer for approximately 30 minutes. Then let it cool down and skim off the fat.

Herb Butter:

1 stick butter

1 small bunch parsley, finely chopped

1 small bunch chives, finely chopped

1 sprig thyme

Melt butter in a small saucepan. Add parsley, chives and thyme.

Recipe courtesy of www.foodnetwork.com

If you or someone you know needs help with a property, I am a distressed property expert and I’d be happy to help your friends and family.  I'm never too busy for your referrals!