Home Buyer Book

Rock Solid. Family Proud.

Our Market Dominance Means Peak Performance for You.

Let’s do the numbers: 60 offices, 3,600 salesassociates, #1 in the region, #1 single-marketRealtor in the nation. Now let’s translate thosenumbers into a benefit for you: our size andmuscle means we can afford the most advancedtechnological and human resources to help youfind or sell your home.

We Will Market Your Home Relentlessly and Systematically.

From the very second you list until the secondyour home sells, it will be promoted nonstop.Our Home Marketing System has powerful,synergistic components: real estate’s finestweb site, Guided Virtual Tours of everylisting and full-page ads that trumpetevery PF&R listing.

Technology That Makes Buyers and Sellers say, “www.wow!”

The Internet isn’t just an information sourceanymore. It’s an inescapable force. Homebuyerswho use the net are younger and they spendmore money. Knowing this, we have invested inwhat is arguably real estate’s most compellingand resourceful site, prufoxroach.com. Thisisn’t online presence. It’s online dominance.

Nate Anderson Office: 215.627.6005Office Fax: 215.627.3412E-mail: [email protected]: 215.440.2274

Our Mission StatementPrudential Fox & Roach Realtors/Trident Group is an innovative home-related

services company that dominates the markets we serve. We are a powerfulteam dedicated to providing the highest quality service and holding ourselves

to a standard of excellence. Our relationships with ourClients, Sales Associates, Employees, StrategicPartners and the Community we serve is built

on trust and integrity. We create a positiveexperience and add value to all those we

impact. Our professionalism is a rolemodel for our industry and the public.

Guiding PrinciplesAll of our stakeholders are critically important to us.

We are committed, therefore, to these Guiding Principles because it isour responsibility to provide:

• Our Clients with a service experience that will delight them throughout every stage of theirhomeownership because they are our first allegiance and we place their interest above all else.

• Our Sales Associates with a commitment to our ongoing and mutually beneficial relationshipin an environment that will: nurture their professionalism, increase their growth opportunitiesand ensure their future quality of life by being “The Place to Be for the Professional Realtor.”

• Our Employees at all levels with satisfying and financially rewarding work in a stimulating andenjoyable environment with continuing opportunities for personal development and advancement.

• Our Strategic Partners with the opportunity for a long-term relationship built on fairness anda shared commitment to meeting the highest standards of excellence.

• Our Industry with a devotion to professionalism and honesty that will serve as a role model tothe larger business community.

• Our Community with a dedication to their well-being and improvement by being an excellentcorporate citizen through financial contribution and deep personal involvement and concern.

Here isOur Family’s

Pledgeto Yours.

The Region’s DominantReal Estate Company

SALES TERRITORY BY STATE AND COUNTYDELAWARE NEW JERSEY Hunterdon PENNSYLVANIANew Castle Atlantic Mercer Bucks

Burlington Middlesex ChesterCamden Monmouth Delaware

Cape May Ocean MontgomeryCumberland Salem PhiladelphiaGloucester Somerset

MARYLANDCecil


Relocation ServicesA Sampling of Clients/Corporations currently being serviced by Prudential Fox & RoachRealtors’ Relocation Services Division:

• AET• Adolor• American Red Cross• AmeriSourceBergen• Ametek• Astro Power• Astra Zeneca• Atofina Chemicals• BTG• Bankers Trust-DE• Boeing• Booz Allen Hamilton• British Energy• Burlington Coat• Campbell Soup• CGU• CIBA Specialty Chemicals• Catholic Health East• Certainteed/St. Gobain• Chase Manhattan of DE• Children’s Hospital of Philadelphia• Chubb Insurance• Cigna Companies• Circuit City• Commerce Bank• CSX Transportation• Data Systems Analysts, Inc.• David's Bridal• Decision One• delage landen• Delaware Investment Advisory• E.I. Dupont• Ernst & Young• FMC• Franklin Mint• GE Capital• Glaxo Smith Kline• Home Depot• ING Bank• ISI• Independence Blue Cross/Blue Shield• Inter Digital Communication• JP Morgan• Johnson & Johnson• Kendall Confab• L-3 Corporation• Lippincott, Williams & Wilkins• Lockheed Martin

• Longshore Simmons• Lowes• Marriott Corporation• MBNA• McDonald's Corporation• Merck• Merrill Lynch• Mobil Oil• Morgan Stanley Dean Witter• Motorola• Nabisco• Neose Technology• Nycomed• Okidata• PNC• PSE&G• Pegasus Communications• Penn Engineering• Penn Mutual Insurance• Philadelphia Inquirer• Philadelphia Newspapers• Pin Point Inc.• Rodel, Inc.• Rowan University• SCT• Sanofi• Shire Pharmaceutical• Schlumberger• Sarnoff• Subaru of America• Synthes• Temple University• Teva Pharmaceutical• The Bank of New York-DE• The Wharton School of Business• Thomas Jefferson University• Tyco Healthcare• Unisys• University of Pennsylvania• Valero Refinery• Vanguard• Vertical Net• Visteon• Williams Scotsman, Inc.• W L Gore• World Gate Communication• Wyeth-Ayerst International


Prudential Real EstateWhy Prudential Real Estate can do more to meet your homebuying needs:

ReputationFor more than 125 years, Prudential* has developed aRock SolidSM reputation for building and preservingindividual security.

Commitment to Customer ServiceThe needs of home buyers and sellers come first. Becausethe Prudential Real Estate Network is part of the Prudentialfamily of companies, Prudential Real Estate Networkmembers can help provide customers throughout the United States with a lifetime offinancial services, ranging from insurance to securities to retirement planning.

Advanced TechnologyThe Prudential Real Estate Network has pioneered the most advanced tools in theindustry to create solutions to customers’ homebuying and selling needs. A world-classweb site, www.prudential.com, is designed with easy-to-use features that enhance thehomebuying experience.

Network StrengthPrudential Real Estate is one of the largest real estate organizations in North America,with more than 1,500 Network member offices. Its network of 42,000 sales associatescan satisfy your homebuying and selling needs virtually anywhere in the United Statesand Canada.

High StandardsNot every company is invited to join the Prudential Real Estate Network. It is a highlyselective process, and only those companies that measure up to their demandingcriteria may become part of the Network.

* The Prudential Insurance Company of America (Prudential)


Your Needs Come First

Finding and buying the right

home is a highly personalized

process, and it all begins

by identifying your needs.

As you think about finding a home, the following worksheets can help me clarifyyour needs. These worksheets explore areas such as:

• The values, interests and priorities you want this move to support.

• The features you are looking for in a home.

• How a neighborhood can best match your needs and lifestyle.

• How the homefinding process will need to be tailored to fit your plans.

• The support you expect to receive from me.


Finding and Buying a HomeThe homefinding process typically includes many of the followingelements.I will be your resource and guide every step of the way.

Initial Consultation• Determine your priorities and needs• Review "agency" choices and select appropriate

working relationship• Discuss financing options

Finding the Right Home• Sales associate to show you properties based on your criteria• Evaluate each property with sales associate• Choose the right home

Preparing an Offer• Review comparable sales to determine offer price• Review progress of loan pre-approval;

decide on financing• Decide on other terms (inspections, possession date,

personal property, etc.)• Prepare earnest money deposit

Reaching an Agreement with a Seller• Present your offer• Negotiation of terms and possible counteroffers• Agreed-upon sales contract with seller

Completing the Settlement Process• Deposit of earnest money• Review seller's property disclosures• Review preliminary title report• Roof, termite and other inspections• Remove any remaining contingencies• Arrange for homeowners insurance• Arrange for home warranty• Arrange for movers• Final walk-through of property with sales associate• Provide balance of down payment and closing costs• Sign Documents• Loan Funding• Recording of title• Receive keys from sales associate• Move in!

Obtain Financing• Find a mortgage company• Consult with a loan officer• Pre-qualification• Complete loan application• Obtain loan pre-approval• Provide requested documentation

• Property appraisal• Loan processing• Final loan approval


Your Single Source forProperty Information

I have access to virtually every property for sale in this market, and willshow you the homes that best match your requirements, including:

• All homes marketed by Prudential Real Estate members

• All properties listed by other brokers through the Multiple Listing Service (MLS)

• Properties not necessarily on the open market yet

• Many properties offered “For Sale By Owner”

To save you time, hassle and duplicated effort, call me for additionalinformation on properties you see, regardless of whether or not they arebeing offered by a Prudential Real Estate sales professional. I canobtain important facts about homes you see:

• Advertised in newspapers or buyers’ guides

• On the Internet

• Open houses

• Displaying “For Sale” signs


How to Look at Homes

Discovering the right home should be

an exciting event. As a Prudential Real

Estate professional, my commitment is

to make your home search as stress-free

and efficient for you as possible.

• Identifying up-front what is affordable will save time and frustration in the homefindingprocess. It is important to consider the financing options available and to begin themortgage pre-approval process as soon as possible.

• From the multitude of properties currently on the market, I will select those that mostclosely meet your unique needs and interests. It is best to preview only a few homes ata time.

• We will schedule time to look at homes and neighborhoods. I will arrange showingappointments with the sellers or their brokers.

• If the seller or their real estate professional is at the property when we are there, it wouldbe best for you to limit your conversation with them.

• You can use the Homefinding Worksheets I give you to evaluate each property.

• In order to help me find the right home for you, I will ask you to tell me your thoughtsabout each property you see — the positives and the negatives. We will continue to assessyour needs and buying criteria.


Homefinding WorksheetEvaluation of (property address) _____________________________________________________________________________

Size (number of rooms or square footage) _____________ H/O assoc. dues $ __________ Asking price $ ________________

Date visited ____________________ Most memorable feature ____________________________________________________

InteriorOverall condition _________________________________________________________________________________

Floor plan _________________________________________________________________________________

Bedrooms/baths _________________________________________________________________________________

_________________________________________________________________________________

Living Room _________________________________________________________________________________

Family room/dining _________________________________________________________________________________

Kitchen/laundry _________________________________________________________________________________

Heating/air _________________________________________________________________________________

Other features _________________________________________________________________________________

_________________________________________________________________________________

ExteriorOverall condition _________________________________________________________________________________

Paint and trim _________________________________________________________________________________

Roof _________________________________________________________________________________

Deck/patio/pool _________________________________________________________________________________

Garage _________________________________________________________________________________

Landscaping/fence _________________________________________________________________________________

Other features _________________________________________________________________________________

_________________________________________________________________________________

LocationAppearance of neighborhood __________________________________________________________________________

House value relative to area __________________________________________________________________________

Distance to employment, __________________________________________________________________________schools, shopping, etc.

__________________________________________________________________________

SummaryFavorite features __________________________________________________________________________

Least desirable features __________________________________________________________________________

Comments __________________________________________________________________________

__________________________________________________________________________


Submitting an Offer

Once you have found the right property, the next step is to make apurchase offer to the seller.

l Determine the price you want to offer.

n The price the seller is asking may or may not reflect realistic market value.

n The best way to determine market value is with a Comparative Market Analysis (CMA)showing similar properties that sold recently, those that are currently active on themarket and those that failed to sell.

n I will discuss with you an estimate of costs associated with purchasing this property.

l Decide on financing.

n We will review together the status of your loan pre-approval.

n We will work together with your loan officer to explain financing options and help youdetermine the mortgage plan that best fits your requirements.

l Decide on other issues that are important to you, such as:

n Items of personal property you want included with the house.

n Warranty, inspections, repairs or other home enhancements by the seller.

n Closing date and possession.

l I will present your offer.

n The seller will have three choices: accept your offer as it is presented; reject itcompletely; or propose adjustments to your offer (counteroffer).

n If there is a counteroffer, you can choose whether to accept it, reject it or counter it.

l Once you have reached agreement with the seller, you will have a firm contract topurchase the home.


Estimate of CostsIt is helpful to have an estimate of the costs associated withpurchasing a home.*Costs required to close the transaction

Title insurance __________Settlement fees __________Recording fees __________Property tax (pro-rated) __________Loan origination fee __________Appraisal __________Credit report __________Other loan fees __________Interest on new loan (pro-rated) __________Home warranty __________Termite inspection __________Other inspections (roof, property inspection, geological, etc.) __________Homeowners insurance __________Other: __________Other: __________

Total estimated closing costs $__________

Estimated monthly paymentPrincipal and interest __________Property tax __________Howeowners insurance __________Private Mortgage Insurance (PMI) __________Homeowners association dues __________

Total estimated monthly payment $__________Home Purchase Summary*

Purchase price of home $ ____________________ Down payment $ ____________________

Amount financed $ ____________________Estimated closing costs $ ____________________

Estimated monthly payment $ ____________________

* This is a preliminary estimate only. Actual costs will vary depending on the property, the lender and other factors.You will receive a detailed breakdown of costs prior to closing of the transaction.


Important Ways toProtect Your Interests

There are several ways to help support a trouble-free home purchase:

• A written property disclosure statement from the seller will revealany problems with the house and the surrounding area that you need toknow about.

• Professional inspections can reveal structural, roof, termite, andother problems with the property that the seller will need to remedy.

• A home warranty can give you peace of mind by providingrepair-or-replace coverage of major home operating systems andappliances.

• A preliminary title report informs you of any problems with theproperty’s title and a policy of title insurance protects your rights to theproperty.

• A walk-through before closing will allow you to make sure allrequired work has been taken care of and that the property is ready tobecome yours.


Completing Your Home Purchase

Many details need to be taken care of in order for a home purchase tobe completed. It can take 15 - 90 days to complete all the steps involvedin a home sale, depending on the complexity of the transaction. I willwork closely with everyone involved in the transaction to help ensurethat it moves ahead as smoothly as possible:

• Explain to you in detail all the steps that will occur, and answer anyquestions you might have.

• Work with the seller’s broker to see that they fulfill their responsibilitiesunder the contract.

• Stay in touch with the settlement officer, title officer, lender and others tohelp coordinate their activities and to help keep the transaction movingforward.

• Communicate with you on a regular basis so that you can stay informed andas worry-free as possible.


A Smooth Transition toYour New Home

Here are some things to consider as you make the move to your newhome. I can suggest local professionals for many of these services.

4 weeks before your moveq Contact and contract with a reputable moving company.q Have school records transferred.q Arrange to transfer (or take with you) medical, dental and other important records.q Prepare to transfer your homeowners and auto insurance to be sure you will be

covered for any unforeseen disasters.q Keep track of moving-related expenses. (Check with your accountant to find out what

expenses will be deductible).

3 weeksq Obtain and mail change-of-address cards to the post office, subscriptions, credit card

companies and important contacts.

2 weeksq Arrange for final utility reading at your former residence the day after your move and

have utilities and phone turned on at your new home the day before you move in.q Close or transfer bank accounts.q Terminate newspaper delivery service.q Arrange for transfer of vehicle licenses and driver’s licenses.q Have an extra supply of prescription medications for the next four weeks.q We will schedule a final walk-through of the property to make sure everything is in

order.

Week of your moveq Keep valuable financial records and personal papers with you; do not pack them with

the rest of your household goods.q On closing day, the home purchase documents record and the home is yours.q Move in!

After you move inq Consider plans for landscaping design, installation and maintenance.q Review home security requirements and systems.q New home furnishings, appliances, and interior decorating will help make the house

your home.

Enjoy your new home!


Financing Your Home Purchase

Unless you are in a position to pay all cash for your home, you will needto obtain a home loan (mortgage) to complete the purchase. I will assistyou in this process to help ensure that you obtain the financing thatmeets your needs.

l Being approved for a loan before you submit an offer will put you in astronger negotiating position and can save time in the loan approval process.

l I can put you in touch with experienced loan officers at leading mortgagecompanies. Your loan officer will be your principal guide through thefinancing process.

l Various financing options may be available to you, including:

n Fixed Rate Mortgage

n Adjustable Rate Mortgage (ARM)

n Government-assisted (FHA or VA) financing

n Seller-assisted financing

l You can expect the lender to ask for standard information regarding yourincome, expenses and obligations.


What Can You Afford?Realistically assessing your finances up front will streamline thehomefinding process.

Step 1 Monthly IncomeWages, salaries, business income after expenses ____________________Interest, dividends or rental income ____________________Other income (alimony, child support, pensions, or Social Security) ____________________

Total Monthly Income (Step 1) $ ____________________

Step 2 Monthly Non-Housing ExpensesFood/clothing ____________________Medical (include insurance premiums and prescriptions) ____________________Life insurance ____________________Child care ____________________Automobile expenses (loan, insurance, maintenance) ____________________Education/student loans ____________________Travel/recreation ____________________Monthly credit card payments ____________________Monthly bank loan payments (other than a mortgage) ____________________Alimony or child support you owe ____________________Savings and investments ____________________Income taxes ____________________

Total Monthly Non-Housing Expenses (Step 2) $ ____________________

Step 3 Amount Available for Monthly Housing ExpensesTotal Monthly Income (Step 1) ____________________minus Total Non-Housing Expenses (Step 2) ____________________

Equals Amount Available for Monthly Housing Expenses (Step 3) $ ____________________

Step 4 Monthly Estimated Housing ExpenseMortgage loan payment (principal and interest—see chart) ____________________Property taxes ____________________Mortgage insurance ____________________Homeowner’s insurance (liability, flood, fire) ____________________Utilities (heat, water, electricity, gas, trash removal) ____________________Maintenance and repairs ____________________Other (assessments, homeowners association dues) ____________________

Total Monthly Estimated Housing Expenses (Step 4) $ ____________________

Compare Step 3 and Step 4 totals. The Total Monthly Estimated Housing Expenses (Step 4) should not exceedthe Amount Available for Monthly Estimated Housing Expenses (Step 3).


Loan Application ChecklistThe following information is typically needed when applying for a mortgage.

Purchase contract and property informationq Copy of the sales contractq Mailing address and property descriptionq Contact information for access to the propertyq Plans and specifications (new construction only)

Personal informationq Social Security numberq Ageq Years of schoolingq Marital statusq Number and ages of dependentsq Current address and telephone numbersq Addresses for the past seven yearsq Current housing expenses (Rent, mortgage, insurance, taxes)q Name and address of landlord or mortgage holder for past two years

Employment history and incomeq Two years of employment history, with complete details of each jobq Recent pay stubs and two years of W-2 formsq Complete tax returns and financial statements if self-employedq Written explanation of employment gapsq Records of dividends and interest receivedq Proof of other income

Assetsq Complete information on all bank and money market accountsq Two months of bank statementsq Current values of stocks, bonds, mutual funds and other investmentsq Vested interest in retirement fundsq Value of life insuranceq Information on vehicles you ownq Information on real estate you ownq Value of significant personal property you own

Liabilitiesq Itemized list of all current debts (loans, credit cards, and other bills)q Written explanation of past credit problemsq Full details of bankruptcy during the last seven years

Feesq Credit report and appraisal fees (usually $500 or less)


The Trident GroupMortgage Financing. Title Insurance. Homeowners Insurance.

They’re All Under One Roof. Ours.

We Bring You Title Insurancewith Assurance.Settle with confidence. Trident Land Transfer Company is America’s largestRealtor-affiliated title company. We are backed by LandAmerica, the oldest andone of the largest title insurers in the United States. We offer you completesettlement services including ownership, tax, and special assessment searches,survey examinations (in N.J.), abstracting, document recording and owner’stitle policies.

We Bring You Homeowners Insurancewith Competitive Rates.Our independence pays off for you. Trident Insurance Agency is anindependent agency. We solicit the best policies and rates from manyunderwriters. Result? The best coverage at the best prices. What’s more,our service goes beyond the sale. We’ll take care of changes and updates,and periodically review your policy to let you know when better coveragesand rates become available.

We Bring You Mortgage Optionswith Dispatch.Trident Mortgage Company is a full-service mortgage banker andthe second largest Realtor-affiliated mortgage company in theUnited States.

We offer you personal mortgage consultants at more than 50regional offices and a completely automated application system forstreamlined applications and instant loan approvals. Our selectionof loan programs is unmatched.

You can even apply for a mortgage any time of the day or night atour website: www.thetridentgroup.com.

Everything is set up to get you the best financing program in theshortest possible time.


The Charitable Arm of Prudential Fox & Roach, REALTORS® and The Trident Group

Building a Legacy of GivingCommitted to Addressing the Needs of Children and Families

in Stressful Life Circumstances; Especially Their Housing

In 1995, Prudential Fox & Roach/Trident founded Fox & Roach Charities, a Pennsylvania nonproCtcorporation that is a public charity. Since our inception, Fox & Roach Charities has donated over $3,400,000 in charitablecontributions to more than 350 organizations in the tri-state area. It is thanks to our sales associates and employees, whocontributed about $1,600,000, and the company contributing more than $1,800,000 to Fox & Roach Charities, that we havesuccessfully raised and donated $3,400,000. Outside of the charitable funding program Prudential Fox & Roach/Trident hasthe Bill Fox, Sr. Family Fund to help our own sales associates and employees. We have donated in excess of $435,000 to thisfund to help our own. Without the voluntary support of our sales associates’ and employees’ contributions from commissionsand salary, this could not have been accomplished.

Since beginning in 1995 “Community Service Day” has become an important company-wide traditionat Prudential Fox & Roach/Trident. Each year, the company closes every office and department to enable sales associates andemployees to lend a helping hand to those in need. A day of hammering nails, painting walls and sprucing up yards … at soupkitchens, day care centers, shelters, food banks, and construction sites…allows us to give back to our communities, touch lives,and help the less fortunate. It’s a day that gives us another dimension and lets us feel good about ourselves, our company andour work.

For eight years, Fox & Roach Charities has partnered with Delaware Valley Habitat for humanity for theirannual “Build A House … Build A Dream Contest for Kids.” rough this partnership, we have helped raise over $516,000(gross) to support Habitat’s regional home building mission. For six years, we have partnered with Delaware Hospice for the

annual Barbara Santoro Jazz Brunch and other smaller scale events. is hasenabled the Delaware Hospice to grow that $60,000 in donations into over $330,000(gross). Last but not least, we have partnered with ESF Dream Camp Foundationfor the past three years to hold our annual Main Line Jazz event. Fox & RoachCharities gave $30,000 and through this event, we were able to raise over $285,000for ESF Dream Camp Foundation’s year-long mentoring and summer camp forunderprivileged children.

In addition, through a partnership between Prudential Fox &Roach/Trident and our sales associates and employees, we were able to raisemore than $400,000 for Tsunami Relief and over $450,000 for Hurricane KatrinaRelief, resulting in a “House in a Box” for a Louisiana family who lost their home.

“The Housing Market Appearsto be Cooling Down ...

...but the Market Leaderis Still Hot.”

The “inventory” of homes for sale is larger than a year ago. The “average days on market”is longer. The real estate world is changing, shifting, cooling. You might think all realestatecompanies are affected equally by this. Not really.

• Prudential Fox & Roach’s market share, with three times the salesvolume as our closest competitor, is dominant.

• Our average sales price is the highest of the major brokers.

• And we’re Prudential’s largest, most robust affiliate.

In times like these, the real real estate professionals step forward. It’s time for theprofessional.

Time for the Market Leader. Time for Prudential Rox & Roach, REALTORS®.


It’s time for a fewReal Estate Reality Checks:

It’s time to buy!

Is this a good time for first-time buyers to buy?The selection is big. Prices are good. You don’t have to worry about

selling another property. And if you have reasonable credit scores,financing is easily available. All things considered, it’s

an excellent time for first-timers.

Should you just “wait out” the real estate market?This is one of those “rear view mirror” questions. We won’t reallyknow whether the market has hit bottom until after it has. If youwait until then, a pent-up demand will have been created. Andyou might have waited too long. So, don’t. Because...

Is this any time to move up to a bigger home?Given the market, when you sell your home, you might get lessthan you would have two years ago. But given the selection andthe prices today, chances are good you might just get a lot ofhouse for the money. For a net gain. So, yes, bigger can be better!

How does our region compare with other parts of the country?This region is economically stable. And it’s still growing. Ours is a

diverse economic base and job growth is expected to continue.This has translated into real estate numbers that are much

less severe than many other American cities and regions.

In a recent study 72% of homebuyers and homesellers saidthey think this is a good time to buy a home. Here are some

real reasons for that optimism...


A rare second opportunity —The $8,000 Homebuyer Tax Credit Returns!

Trident Mortgage Company LP

Trident Mortgage Company is a member of The Fox & Roach/Trident family of companies. ©2009 Trident Mortgage Company.LP All Rights Reserved.Trident Mortgage CompanyLP is licensed by the Pennsylvania Department of Banking as a Mortgage Lender. Licensed by the New Jersey Department of Banking

and Insurance. Licensed lender, Office of the Delaware State Bank Commissioner.

Federal Tax Benefits Extended and Expanded!

Great news: Congress has extended and expanded thehomebuyer tax credit. If you are thinking of buying ahome, find out now if you qualify and don’t miss out onthis second chance!

Here are some of the details of the new credit:

Similarities with the original$8,000 tax credit:

• First-time homebuyers can claim acredit of as much as 10% of thepurchase price, up to $8,000.(Homes above $800,000 do notqualify for any credit.) First-timehomebuyers are defined as notowning a principal residence forthree years before the new homepurchase.

• The purchased home must be used asyour principal residence for the nextthree consecutive years.

• The tax credit is a dollar-for-dollar reduction in taxes owedto the I.R.S. For example, ifyour entire income tax liabilityfor the year is $5,000, and an$8,000 credit can be claimed,your would receive a $3,000refund check from the I.R.S.

• You may claim the credit for ahome purchased in 2009 oneither your 2008 or 2009 tax returns. 2010 buyersmay claim the credit on their 2009 or 2010 returns.

New provisions of the tax credit law:

• Homebuyers now have through April 30, 2010 to havea purchase contract in place and settlement must closebefore July 1, 2010.

• The new law offers a tax credit for repeathomebuyers. Homeowners who have lived in oneresidence for five consecutive years during the previouseight can claim a tax credit of 10% of the purchaseprice, up to $6,500. The new home need not cost more

than the old one.

• Income limits for both first-time andrepeat buyers have been increased.The full amount of the credit may beclaimed by single filers with incomeup to $125,000 and for marriedcouples filing jointly up to $225,000.The tax credit is phased out over anadditional $20,000 of income inboth cases.

Any type of residencequalifies: single family homes,condominiums, co-opapartments, attached orsemi-attached townhomes,and more.

The new tax credit law tookeffect on November 6, 2009,so if you have a transactionpending you may be able totake advantage of the newexpanded benefits. And if

you are considering a new home purchase — don’t letthis opportunity pass you by!

An independently owned and operated member of The Prudential Real Estate Affiliates, Inc.

www.prufoxroach.com

Talk to your Prudential Fox & Roach Sales Associate or Trident Mortgage Consultantfor more details.

Home Buyer Book

Documents

Transcript of Home Buyer Book