Saturday Reporter-Herald February 5, 2011 E1
Real Estate Matters
www.homeandrealtyguide.com • Saturday, February 5, 2011 • Reporter-Herald
A Sweet
Owner required to pay back tax credit
Master Retreat
Sells
ILYCE GLINK TRIBUNE MEDIA SERVICES
Set the stage with a modern master bedroom
Q
uestion: I came across your website as I was trying to look for answers as to my home situation. I lived in Philadelphia for most of my life. I bought a house there in March 2009. When I bought the house, I got the $8,000 first-time home buyer tax credit. I’m wondering if I have to pay back some or all or the tax credit. On the IRS website, it says you have to pay it back under “certain circumstances.” I moved out of my home in June 2010. Since then, it’s been rented and I now live in an apartment in Florida. Will I have to pay back the $8,000 tax credit? Answer: When you bought your home in 2009, you were fortunate to have qualified for the tax credit. When you filed your 2009 federal income taxes, you received a dollar-fordollar benefit equal to $8,000 — meaning that if you owed the IRS $10,000 in federal income taxes, you only had to pay $2,000. But to keep that tax credit you had to continue to live in the home for at least three years. If you fail to keep the home and use it as your primary residence, you’ll have to pay the tax credit back to the IRS. There are some exceptions, but they are limited. If you sell your home, you are required to repay the tax credit based on the amount of profit you make on the sale of the home. If you have
JILL SCHUETT FOR THE REPORTER-HERALD
T
oday’s homebuyers are choosey. They are looking for that special something that sets one home apart from another — something that catches their eye and causes them to linger. When they find it, they can’t imagine themselves living anywhere else. One area sure to capture a home buyer’s heart is in the
master bed and bath. Here is where they demand sophistication and luxury. Why not give it to them? By staging it to sell, even the most hohum master bed and bath can be transformed into a restful, sophisticated haven.
START WITH PAINT COLOR When selling, avoid dark colors that will make room look small and closed in. Instead, entice buyers using soft neutrals. Gray, taupe, khaki, tan or beige are best. Lighter warm toned colors are also acceptable like soft butter cream yellow or elegant gold tones. Even cool
ThinkStock photos
colors can be used such as a very light blue/green or sage green to communicate that soothing, fresh, spa retreat style. Tip: Use the same color in the bed and bath or different tones of the same color for a cohesive look.
MASTER BEDROOM STYLE BASICS • Clear the clutter and store away personal photos. • Start with a neutral toned, updated bedspread, using lots of matching decorative pillows for that luxurious upscale hotel look. Choose bedding that is not too feminine, so as to appeal equally to both men and women. • Choose modern matching lamps on nightstands to bring in consistency, symmetry and style. • Pick a color from the bedspread and hang match-
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ing to-the-floor drapes. This adds drama, sophistication and visually pulls the room together. • Add a candle or two to the nightstand or dresser; add a vase with fresh flowers. • If there is space, feature a trim, pretty club chair and reading lamp in a corner to show further purpose for the room and to communicate that restful, relaxing retreat feeling.
MASTER BATH BEAUTY • Make sure every nook, cranny and surface is clean and that personal items are hidden. • Put up a new fabric shower curtain. It can be a modern elegant style or clean and crisp spa-like style in a white waffle texture, for example. Push the curtain back all the way to make the bathroom appear larger.
• If there is a corner sunken tub, place a plant and/or candles in the corner or beside it. Even a standard tub can benefit from a little color and mood with a small candle in the corner. • Clean towels are a must. Decorative ones can be put out for showings only. Again, go with an elegant style or fluffy, white spa-like style. See how with just a few simple touches, any master bedroom and bath can become a sweet, sophisticated, sell-able, spa-like retreat. Jill is a Home Staging Expert (HSE) certified stager and redesign specialist serving the Northern Colorado area. For questions or more information, e-mail Jill Schuett of Applause Home Staging, LLC jill.applause@comcast.net, or go to www.applause homestaging.com
Inside Insidethis thisweek’s week’sHome Home& &Real RealEstate Estate
Realtor of the Week Debb Manderscheid
Real Estate Transactions
Carol O’ Meara:
Listings from Front Range properties recently sold
Director y
2010 High Plains Landscape Workshop
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