Mark's CityLiving Blog

New Blog Address!

2010-05-21T16:14:00.001-05:00

Our blog has moved! You can find Mark's CityLiving Blog now at http://nashvillecitylivingblog.com.

Making Nashville Greener and More Resilient

2010-05-13T12:09:00.004-05:00

Creating, Enhancing and Preserving the Places that Matter

The Mayor's Office, The Land Trust for Tennessee and The Conservation Fund invite you to a special event on June 3rd to help shape the future of Nashville's natural and cultural resources. The recent flood is a bold reminder of how important the health and strength of our natural infrastructure is to our well being. Come to one of the following workshops on June 3rd to discuss how we can make Nashville greener and more resilient.

Morning Workshop
Location: Belmont University Curb Event Center, 2002 Belmont Blvd., Nashville, TN 37212
Time: 8-11:30 am
Registration 7:30-8 am
Welcome by Mayor Karl Dean at 8:10
Guest Speaker: Steve Morse, University of Tennessee

Evening Workshop
Location: Belmont University Curb Event Center, 2002 Belmont Blvd., Nashville, TN 37212
Time: 4-7:30 pm
Registration 3:30-4
Guest Speaker: Susan Whitaker, TN Department of Tourism

Breakout session topics:
Connecting People to the Green Infrastructure Network
Connecting Wildlife and Water Networks
Urban and Rural Farming and Food Security
Shaping Future Development and Conservation
Preserving Our Historic and Iconic Sites
The Greenest in the Southeast: How we measure against other peer cities

Please RSVP to aladd@landtrusttn.org (or 615-244-5263) with your name, the workshop you will attend and your top breakout session topic. We will email you back confirming your attendance and with directions and additional information.

About the project:
The goal of this public/private partnership is to develop the most progressive open space protection strategy in the Southeast. (As recommended by the Mayor's Green Ribbon Committee.) The team has been collecting and analyzing information for the past six months and now is ready for significant public input. The results of June forums will help set priorities for implementation. For more information visit http://nashvilleopenspace.wordpress.com/.
For questions please call or email: Audra Ladd: aladd@landtrusttn.org 615-244-5263

Tax Credit Extension at Gale Park

2010-05-11T08:39:00.004-05:00

Gale Park is a new mini-neighborhood development coming to Gale Lane. Nowhere else in this area can you find a new construction single-family home in the $250's. And for the next three sales, the developers are offering an extension of the recently expired tax credit! The next three buyers at Gale Park will get $8000 to take off the price, put towards upgrades, or use towards closing costs. There are already ten homes sold at Gale Park, so hurry up and take advantage of this opportunity!

Home Sales Increase for 7th Consecutive Month!

2010-05-10T14:27:00.003-05:00

According to the latest news release from the Greater Nashville Association of Realtors (GNAR), there were 2,145 home closings in April. This is a 33.7% increase compared to the 1,604 closings in April of last year.

Year-to-date closings are also significantly up! There were 6,337 in 2010, and 5,366 in 2009, for an 18% increase.

Lucy Smith, GNAR President, states that "Stable prices for single family homes and condominiums paired with an increase in pending sales create a hopeful sign as we move into the summer selling season."

"Many people may be wondering about the impact the recent flooding could have on the real estate market. Clearly, the damage and loss is significant in both downtown commercial and area residential property. There may be a brief impact, but there is likely to be continuing sales activity throughout Middle Tennessee. And, the exceptional job of response by both area volunteers and community leaders confirms that Greater Nashville will continue to attract companies and families. The true heart of this city has been revealed to people around the country and what they are seeing is very compelling."

The average number of days on the market for a single-family home in April was 87 days. The median residential price for a single-family home was $164,950 and for a condominium was $143,950. Compare these prices to those last year at the same time which were $164,500 and $149,900, respectively.

To read the complete release, click here.

Greenways Temporarily Closed Due to Flooding

2010-05-10T10:35:00.001-05:00

A message from Greenways for Nashville:

Greenways Temporarily Closed Due to Flooding

For safety reasons, Metro Parks closed Greenways on Monday pending a safety assessment after last weekend's flooding. Some greenways sustained significant damage to bridges, boardwalks and barriers. Some sections of trail are impassable, and Metro Parks has deemed it in the best interest and safety of users to close the trails system until further notice.

Please refrain from using the Greenways until they are re-opened and please don't attempt to climb or otherwise circumvent gates or other barriers.

As is customary for the ‘Volunteer State’, several have contacted us wanting to support a clean up effort. There is a cleanup currently being organized by the Richland Creek TrailWatch group. There will be much to clean-up at most of the greenways.

Individuals or groups wishing to organize clean-up efforts please contact the greenways office. After the assessments are complete, Metro Parks and Greenways for Nashville will coordinate with volunteer groups to begin the clean-up process. While the Metro Parks department does a fine job of keeping our trails maintained, they may appreciate the extra help during this unusually laborious period.

The results of the flooding on our greenways system is disappointing. With patience and work we will overcome this historic event.

Health, safety and strength to you and yours,
Greenways for Nashville

Understanding Flood Insurance & FEMA Assistance

2010-05-05T15:47:00.003-05:00

One of our past clients works for Adjusters International - public adjusters and disaster recovery consultants. He supplied us with a very information PDF of information about flood insurance and how FEMA assistance works.

Understanding and Recovering from One of Nature's Worst Disasters

Flood Memo from the Mayor's Office

2010-05-05T10:21:00.002-05:00

This memo is directly from the Mayor's Office. Lots of good information in here. Hope everyone is safe out there. Village is doing what we can to help. Stay tuned for info about a food drive we are participating in to help the Second Harvest Food Bank and how donations to the Village Fund will go directly to local flood relief efforts.

RECOVERY EFFORTS EXPAND AS CUMBERLAND RIVER BEGINS TO RECEDE

NASHVILLE, Tenn. – Mayor Dean outlined the expansion of recovery efforts as the Cumberland River begins to recede. The Cumberland River crested between 5 p.m. and 6 p.m. Monday, May 3. The water is expected to continue to recede slowly and return back below flood level (40 feet) before the end of the week. The Army Corps of Engineers continues to release water from the dam as part of its normal course of operation.

MetroCenter is improving and pumping of water away from levee continues today. MetroCenter and First Avenue downtown remain evacuated at this time. Second Harvest Food Bank is relocating its food supply from its MetroCenter location to Nashville International Airport, which is being used for storage, staging and distribution efforts.

Coordination meetings related to the evacuated areas continue and updates will be forthcoming. In the meantime, it is vitally important that citizens stay out of these evacuated areas.

Hands On Nashville Volunteer Efforts

Nashvillians have and will continue to make remarkable contributions as flood volunteers. In the last 48 hours, more than 7,000 volunteers have registered with Hands On Nashville. Today they will begin staffing Disaster Information Centers and distributing Second Harvest’s Emergency Food Boxes in critical areas, like Antioch, East Nashville, and Opryland/Donelson. As clean-up and recovery continues, the use of volunteers will increase dramatically. If you are interested in serving as a flood volunteer, please register at www.hon.org.

Donations

Very specific donation requests include large quantities of the following: diapers, formula, cleaning supplies and rubber gloves, wet vacs, brooms, mops, and generators. If citizens have large quantities, they should contact the Community Foundation.

FEMA Update

As citizens start cleanup efforts, it is important to document everything and keep receipts. As soon as FEMA assistance is available, the public will be provided with information about how they can apply for assistance. FEMA will have 800 numbers and Web sites.

Shelter Update

The shelter in Bellevue located at 655 Colice-Jeanne Road is full and has closed. All other shelters remain open. Bellevue citizens are encouraged to seek shelter at Gordon Jewish Community Center located at 801 Percy Warner Blvd.

Citizens Encouraged to Check on Neighbors

Dr. Paul encourages congregations and neighbors to check on elderly residents in their homes and report those to Metro Health. Elderly neighbors who have been sheltering may need medical assistance or other services. If citizens find a senior with medical emergency they should call 911 and other assistance needs should be directed to211.

Nashville Electric Service

All circuits coming out of the East Network substation of the Demonbreun substation are out of service. All businesses in the area from Fifth Avenue to First Avenue and from Demonbreun Street to Commerce Street are without power. Power will be out for the next few days downtown due to water in underground vaults. NES has 54 crews working the current outages, and 3,500 total customers without power.

Consumer Advisory

Citizens should be aware of contractors and others who may claim to be associated with local, state or federal agencies. One reported case involves people claiming to be Metro Codes inspectors. Note that all Metro Codes inspectors travel in Metro vehicles. If they are on foot, Metro Codes inspectors will have Metro IDs as proof of their association with Metro. Citizens are cautioned to only work with licensed contractors and to seek multiple bids before having repairs done. To report suspected consumer fraud, file a report with the Tennessee Consumer Affairs Division at http://tn.gov/consumer/index.shtml.

Status of Omohundro Water Plant and Continued Need for Water Conservation

All Metro Water customers continue to receive services, and there are no outages reported at this time. The public water supply provided by Metro Water continues to be safe, but there is some concern that Nashville could experience a water shortage if conservation measures are not taken. Customers are directed to use water for drinking and food preparation only.

The Omohundro Water Treatment Plant continues to operate at normal capacity. The sandbagging operation is maintaining flood protection. However, with the K.R. Harrington Water Treatment Plant out of operation, it is imperative that citizens conserve water. Lack of conservation efforts has resulted in a 15 percent loss of reserves.

Customers in higher elevations may experience reduced water pressure. If a customer loses pressure completely or has discolored water, they should contact Metro Water Services at (615) 862-4600. Harpeth Valley Utilities District treatment plant has also been affected by the flood and their customers are asked to conserve water for essential uses as well.

Bottled Water Distribution

Metro Southeast is being used as a staging area for distribution of donated bottled water to area mobile feeding stations at St. Edwards Church and Bellevue Baptist Church. Walmart, Sam’s Club, Purity Dairies, and Kroger have donated bottled water.

No additional fatalities reported at this time

The Mayor’s Office of Emergency Management has confirmed a total of ten fatalities in Davidson County that are thought to be flood related.

Red Cross Shelters Remain Open

All Red Cross shelters remain open as the operation moves from response to recovery. Damage assessments are being conducted by interdepartmental teams that will provide information to enable long term planning.

Juvenile Court Cancelled

All proceedings at Juvenile Court are cancelled for Wednesday, May 5.

Road Closure Update

No new updates. Public Works is working mudslides and debris and gravel removal.

Disaster Information Centers and Assistance Open Today at Noon

Community-based response for social and human services has begun in coordination with the Metro EOC and Nashville Volunteer Organizations Active in Disaster (VOAD). Today at noon Metro will open two Disaster Information Centers to provide general information on utilities, social service assistance, and legal and insurance information. Centers will be staffed by volunteers, Parks Department and other Metro employees. Citizens can drop by for information from 12-8pm.

Bellevue Community Center

656 Colice Jeanne Rd. 37221

Coleman Community Center

384 Thompson Lane 37211

We will have Salvation Army mobile feeding stations available nearby at St. Edwards Church and Bellevue Baptist Church to provide lunch and dinner for individuals and families who need information support. These centers will not be equipped for medical assistance. Citizens who need emergency assistance are urged to call 911. Metro continues to coordinate volunteers through Hands On Nashville www.hon.org;. The most urgent need continues to be cash donations, which can be made to the Metro Disaster Fund at www.cfmt.org;

###

Janel Lacy
Press Secretary
Office of the Mayor

Nashville Flood 2010

2010-05-03T16:23:00.013-05:00

Devastating flooding in Nashville's urban core. Hopefully the river will crest soon and waters will start to recede.

Our Church Street office downtown fared well, thankfully. Hillsboro Village location in great shape, and Franklin office survived too. East Nashville office has some water in the basement, but it could be so much worse.

Four Contracts at Germantown Station

2010-04-30T11:06:00.002-05:00

We have four contracts at Germantown Station. You know what that means...we are breaking ground! Construction will kick off any day now and we will close the first homes later this year.

Germantown Station is 17 single-family bungalows and town homes at 4th Ave N & Van Buren just down from Germantown Cafe. Prices start at $199,500. Germantown Station offers incredible benefits of Green Living that lower the cost of ownership and support a sustainable lifestyle. The energy savings at Germantown Station homes will create a smaller carbon footprint, lower energy expenses, conserve natural resources, and enhance future resale value. Green features at Germantown Station include cellulose insulation, radiant barrier roofs, double glazed low-e windows, dual flush toilets, compact fluorescent lights, and Energy Star appliances.

Take a Virtual Tour.

800 Main Building in East Nashville Renovated

2010-04-29T10:52:00.003-05:00

Good news for East Nashville and the area where 5th & Main is located...

800 Main Building in East Nashville Renovated
The Tennessean
By Nancy Deville

The economic recession may have stalled work at the former Bank of America building in East Nashville, but space is now ready to be sold or leased.

The 110,000-square-foot building at 800 Main St. is undergoing renovation and being repurposed for office/retail space.

The facility has been fully gutted, and while no contracts have been signed, developers hope to attract commercial business that will complement the East Nashville community.

"We are open to a full range of possibilities," said Adam Leibowitz with Double A Development. "We are looking to bring more jobs to Main Street. We constantly have people inquiring about the property, and we are always open to accommodate their needs, but it has to be economically sound. We would love to see other office users since it's a good alternative with what is happening downtown."

In response to neighbors in the Historic Edgefield community, developers recently removed the chain link fencing surrounding the building on Main and Woodland Street.

"We decided it was important to take the steps for cleaning up the building, both the interior as well as the exterior," Leibowitz said.

Jason Ownbey, who heads the neighborhood's beautification committee, says neighbors have been working for the past year to tidy up Main Street in hopes of attracting more businesses. The chain link fence was an eyesore.

"There were weeds and trees that had grown up through the fence, and it had become rusty and parts of it were falling down," Ownbey said. "It's amazing to see the transformation now that the fence has been taken down."

Boards have been removed from windows of the red brick high-rise building, and those who pass by can see inside. Some were worried the removal of the fence will make the building a haven for the homeless. Leibowitz said there haven't been an problems, and developers are working with the Metro East Precinct. Officers regularly patrol the area.

"People may think it will increase illegal activity, but it was there before the chain came down and with the area being exposed, it gives fewer places to hide," Ownbey said. "Homeless activity has gone down to nothing since they gutted the building."

Ownbey hopes the space attracts businesses that are compatible with East Nashville to further enhance its redevelopment.

"I would love to see an increase in pedestrian activity to help energize the area," he said. "Main Street is so broad in what it can become. The area could easily become something like The Gulch is developing into and be full of life."

"We've always taken a strategy of redeveloping a neighborhood and not a single building."

2010-04-28T11:49:00.001-05:00

Great interview in the City Paper this month with Aaron White & Hunter Connelly of Core Development Services. They talk about their approach to infill development in Nashville's urban neighborhoods and the importance of aligning the look and feel of their buildings and communities with the existing character of the neighborhood.

Read the Article

New WeCar Program Launched

2010-04-26T12:12:00.002-05:00

Nashville is making some impressive urban strides. The new WeCar program launched last week downtown is a great step in towards even more urban friendly services for our city's downtown residents. Sounds like there are four cars available for rent at this time at four different locations around downtown, with rates starting at only $8/hour. Check out this article in the Tennessean with all the details.

12South Neighborhood Tour

2010-04-14T14:11:00.001-05:00

The 12South Neighborhood Home Tour is this Saturday from 11am-5pm. You can buy tickets in advance at http://www.12southtour.com/. This is a great time to check out some beautiful homes in a great urban neighborhood.

Tennesseans Nab $345.9M in Homebuyer Tax Credit

2010-04-13T10:41:00.003-05:00

Full Story
Nashville Business Journal

Tennesseans have qualified for $345.9 million in homebuyer tax credits through the Internal Revenue Service's tax credit program.

Through mid-February, almost 48,000 Tennessee homebuyers had filed returns to collect their tax credits. Nearly 1.8 million nationally have done so, collecting $12.6 billion in credits for homes purchased in 2008 and 2009, the IRS said in a release.

The program ends April 30. To qualify, homebuyers must have a binding contract by that date and must close on the home by June 30.

Homebuyers can receive up to $8,000 in credit for a new home if it is their first home or first home in three years. Existing home owners can receive up to $6,500 as long as they have lived in their old home for five consecutive years during an eight-year period ending on the purchase date of the new home.

Lucy Smith, president of the Greater Nashville Association of Realtors, said the tax credit is driving a surge in sales activity that she expects to continue for the next few months.

Home Sales Increase for Sixth Consecutive Month

2010-04-08T13:12:00.002-05:00

March home sales increase more than 21% and first quarter figures up over 11%!

GNAR Press Release:
There were 1,851 home closings reported for the month of March 2010, according to figures provided by the Greater Nashville Association of REALTORS®. This figure represents a 21.6 percent increase compared with 1,521 closings in March of 2009.

Numbers for the first quarter of 2010 were 4,192 closings, up 11.4 percent from the 3,762 closings during the first quarter of 2009.

“Having the number of home closings in Greater Nashville increase more than 21 percent from this time last year is a very encouraging sign,” said GNAR President Lucy Smith. “This makes six consecutive months or two consecutive quarters of positive figures for home sales, which is very good news. It is also good to see the median residential price remaining stable.”

“The tax credit deadline of April 30 for contracts, with closings by the end of June, has certainly been responsible for much of the sales activity. It is reasonable to expect many transactions are being seriously considered right now to take advantage of the tax credit, so it is likely that the positive trends will continue at least though the spring and early summer,” Smith continued.

There were 2,231 sales pending at the end of March, compared with 1,731 pending sales at this time last year. The average number of days on the market for a single-family home was 92 days.

The median residential price for a single-family home during March was $159,250 and for a condominium it was $137,450. This compares with last year’s median residential and condominium prices of $158,000 and $155,704, respectively.

“Inventory is up slightly from last year, and actually up nearly 1,000 units from last month,” added Smith. “This is great news for buyers looking to take advantage of the spring home-buying season and the tax credit. Sellers are putting their homes on the market giving buyers a significant variety from which to choose. The increase in real estate market activity seems to indicate that people are beginning to feel more confident and believe the overall economy is beginning to recover.”

The Greater Nashville Association of REALTORS® is one of Middle Tennessee’s largest professional trade associations and serves as the primary voice for Nashville-area property owners. REALTOR® is a registered trademark that may be used only by real estate professionals who are members of the National Association of Realtors and subscribe to its strict code of ethics.

Greenways for Nashville Annual Meeting

2010-04-08T12:33:00.003-05:00

Are you a supporter of Greenways for Nashville? Now is the time to become one! Our greenway system in and around the city is growing rapidly and is quite impressive. I've been on the board for years and feel strongly that there is great value in promoting and improving the way our city manages our greenspaces. Details about Greenways for Nashville at http://www.greenwaysfornashville.org/.

Half Off Downtown Home Tour Tickets

2010-04-07T10:11:00.003-05:00

Today's Groupon is half off Downtown Home Tour tickets! Instead of $10/each, they are $5 today only with this deal. The tour is on Sunday, April 18.

Click here for the Groupon: http://www.groupon.com/r/uu558129.

The Downtown Home Tour is a great way to check out urban real estate and envision what the urban lifestyle would truly be like. The homes on the tour are actual homes of Nashville urbanites - furnished and lived in. (Though, there are some homes open during the tour that will be for sale or for rent.) Not sure if you can see yourself living in our city's core Downtown neighborhood? Check out the tour. For $5, what do you have to lose?

1124 Granny White Court

2010-04-06T16:12:00.014-05:00

Just listed an awesome home in the Green Hills/David Lipscomb area. 4BR/3.5BA and over 4400 square feet. It is an impressive Tudor that is in impeccable condition. It has a very open feeling with soaring ceilings. The gourmet kitchen has custom cabinetry and high-end appliances. There are two master suites - one upstairs and one downstairs. The second level has a library/office area that is open to the first floor. This home has a two car garage (uncommon in the area) and a media room above it. To view more photos, click here. Priced at $619,900. Email us for more info.

Riverfront Redevelopment Underway

2010-03-29T10:45:00.002-05:00

One of the greatest assets of Nashville is the Cumberland River that flows right by Downtown. One of the most underutilized assets of Nashville is the Cumberland River that flows right by Downtown.

For the last few years, planning has been in full swing to redevelop this area. Using other secondary cities such as Chattanooga as models and inspiration, Metro settled on a redevelopment plan that included multiple phases to take place over the next 20 years.

At long last, construction will finally begin next month (only a few days away!). A waterfront park will go in place of a parking lot on the east bank of the river.

Check out all the details in this article from a recent edition of the Tennessean.

Downtown Home Tour

2010-03-22T17:23:00.002-05:00

The Nashville Downtown Partnership will hold its annual Live It Up! Downtown Home Tour featuring urban homes on Sunday, April 18 from 12-6pm. Tour a variety of housing options in our diverse and dynamic city neighborhoods. Learn more.

Next Go Green Seminar on Feb 25

2010-02-19T14:17:00.001-06:00

If you missed our last Go Green seminar in January, here's your next chance! Please join us on Thursday, February 25 from 6-7pm for an hour jam packed with information about retrofitting your home to reduce your carbon footprint AND lower your electricity bill. Jim Purcell from NES will be on hand to share with you what retrofitting tasks will earn you the most bang for your buck in energy savings. The seminar is held at the main Village office at 2206 21st Ave S. Wine and appetizers provided.

Our Go Green, District 18 campaign has been progressing well. We have over 100 sign-ups, but our challenge has been to get those who have had the evaluation to implement the recommended changes. We are happy to have such great participation from the community, but are hoping to encourage more to implement some of the retrofitting in order to really see a decrease in District 18's energy usage.

The Future of Urbanization

2010-02-02T15:46:00.001-06:00

Here is a great article about urbanization and the four main demographics to watch in the next decade. The article talks about how urban housing will continue to increase in popularity among Generation Y and baby boomers.

Four Major US Demographic Waves to Watch in New Decade

600 Garfield

2010-02-01T13:56:00.009-06:00

One of our favorite listings in Germantown is 600 Garfield. Brought to you by the same developer who did District Lofts just north of Downtown, 600 Garfield is well built and has the contemporary and sleek finishes urban buyers look for. What makes 600 Garfield unique? Each unit has a garage! That is almost unheard of this close to Downtown. And some units even have private rooftop decks. Prices range from $159,900 to $239,900.

Curious about 600 Garfield? Contact us.

A Breakdown of the Homebuyer Tax Credit

2010-01-26T11:43:00.004-06:00

The Tennessean had a very helpful article today that breaks down the homebuyer tax credit. If you have any questions as to whether or not you qualify, or anything else relating to the credit, we are happy to help. Just email us or comment here. The article is below, or you can click here to read it on the Tennessean's web site.

Homebuyers Get Help Sorting Through Tax Credits
By Carole Feldman

If you bought a home in 2009, you could be eligible for a tax credit. Figuring out which one can be confusing. There's one credit for first-time homebuyers and another that primarily benefits homebuyers who owned a home before. But don't mix it up with the first-time homebuyer credit in 2008, which actually was a long-term loan.

There are maximum income levels and maximum sales prices. And vacation homes or rental property don't qualify. "If you want to spend two hours reading the instructions and translating them and finding out whether you qualify, yes, it's relatively simple," said Jeff Schnepper, an MSN Money tax expert and author of How to Pay Zero Taxes (McGraw-Hill $17.95).

Some questions and answers about the homebuyers tax credit:

What's the purpose of the credit?
Congress passed the tax credits in an effort to boost the struggling housing industry and fight recession. Indications are that it's had an impact. The National Association of Realtors reported that November sales of existing homes were up 44 percent from a year earlier. Although new home sales dropped in November, figures from the Commerce Department show that they're up 8 percent from the low in January 2009.

How many people are claiming the credit?
"In all, 4.4 million households are expected to claim the tax credit before it expires," Lawrence Yun, the Realtors' chief economist, said in December.

How many versions are there?
There are actually three.

The first credit, for first-time homebuyers, was really a long-term, interest-free loan that has to be paid back over 15 years. The maximum credit was $7,500 for a principal residence purchased between April 9, 2008, and June 30, 2009.

The second iteration made the first-time homebuyers credit a true credit — it doesn't have to be paid back — and raised the amount to a maximum $8,000. It applied to homes purchased between Jan. 1, 2009 and Nov. 30, 2009.

The third change extended the eligibility dates to homes purchased through April 30, 2010. It also added a credit for long-time homeowners who purchased a new residence between Nov. 7, 2009, and April 30, 2010, but at a reduced value — up to $6,500.

Do I automatically qualify if I purchased a house during those periods?
No. To qualify, the house has to be used as a primary residence. If purchased after Nov. 6, 2009, it cannot have cost more than $800,000. If you're a long-time homeowner, you had to have lived in the same house consecutively for five out of the last eight years, though you need not have lived in or owned that house at the time you buy your new home.

For homes purchased after Nov. 6, 2009, the credit also begins phasing out for individuals with modified adjusted gross incomes above $125,000, and for married couples filing jointly with incomes above $225,000.

How does the Internal Revenue Service define a principal residence?
"Your main home is the one you live in most of the time," the agency said. "It can be a house, houseboat, mobile home, cooperative apartment or condominium."

What if I'm living overseas and I buy a home there?
The home doesn't qualify unless it's in the United States.

How do I claim the credit?
There's a form, 5405, to fill out. You'll also have to submit a copy of your settlement statement, usually Form HUD-1, with the names and signatures of all parties, the property address, the sales price and date of purchase.

To avoid refund delays, the IRS recommends that longtime homeowners who purchase a new home also provide documents to show they meet the requirement for consecutive years lived in their old house. These can include mortgage interest statements, or property tax or homeowner's insurance records.

Do I have to wait until I file my 2010 taxes to claim the credit for a home purchased before the deadline in 2010?
No. "You can choose to claim the credit on your 2009 return for a home you bought in 2010 that qualifies for the credit," the IRS said.

I purchased my home in 2008 and filed for a credit on my tax returns. Do I still have to pay it back?
Yes. When Congress did away with the repayment requirement, it did not do so retroactively.

What if I purchase the property for business?
You're not eligible. The house must be used as a primary residence to qualify.

What if I want to keep my original house and use it as a rental property?
If you qualify for the credit as a long-time homeowner, nothing in the law requires you to sell the original house. However, you must make the new one your primary residence.

What if I decide to sell the house I got the credit for or convert it to a rental property?
You will have to pay back the credit if you don't keep the purchased house as your permanent residence for three years.

Introducing Germantown Station

2010-01-25T10:42:00.003-06:00

We recently launched our newest listing: Germantown Station. This Core Development Services community is located 4th Ave N & Van Buren Street in Historic Germantown. It is just down from Germantown Cafe and City House.

Germantown Station will be 15 single-family Craftsman-style bungalows and two town homes. Prices range from $199,500 - $279,500. Completion is expected in the Fall of this year, and special pre-construction pricing is available on the next few contracts only.

Germantown Station offers incredible benefits of Green Living that lower the cost of ownership and support a sustainable lifestyle. The energy savings at Germantown Station homes will create a smaller carbon footprint, lower energy expenses, conserve natural resources, and enhance future resale value. Green features at Germantown Station include cellulose insulation, radiant barrier roofs, double glazed low-e windows, dual flush toilets, compact fluorescent lights, and Energy Star appliances.

Let us know if you'd like more information. We can send you floor plans, set up a showing of a similar home at Core's other community West End Station in Sylvan Park, or talk to you more about pricing and finishes. Email Us.

Take a photo tour of what Germantown Station will look like.