$8,000 tax credit: 

Under the American Recovery and Reinvestment Act of 2009, qualifying taxpayers who purchase a home before December 1, 2009   receive up to $8,000, or $4,000 for married individuals filing separately.  People can claim the credit either by filing an amendment on their 2008 return or on their 2009 return next year.  You may want to discuss with your accountant how you would best benefit.

 The tax credit begins to fade out for taxpayers whose adjusted gross income is more than $75,000 or $150,000 for joint filers.  Taxpayers whose adjusted gross income is more than $95,000 ($170,000) do not qualify.

 Applies to purchases that close after April 8, 2009 and before Dec 1, 2009.  For homes you construct, the close date is the day you occupy the home.

• Applies only to homes used as taxpayer’s principal residence.
• Reduces a taxpayer’s tax bill or increases his or her refund, dollar for dollar.  The credit is the smaller of $8,000  ($4,000 married filing separately) or 10% of purchase price.
• Is fully refundable, meaning the credit will be paid out to eligible taxpayers even if they owe no tax or the credit is more that the tax owed.
• Must reside at residence for three years or the credit must be paid back.
• Must be a  First-time home buyer;  any person who has not owned another residence at any time during the 3 years prior to the date of purchase.

Maine State Housing Authority, or MSHA, Gift of Green:

 The gift of green is a grant of 4% of the mortgage amount up to $5,000

 Must be a first-time home buyer (MSHA First Home program), or veteran, or active duty military (MSHA Operation New Home program).

• Completion of approved home buyer course before closing
• Must contribute 1% of mortgage loan, of own money (this can be a gift from family member)
• Income and house price eligible, no more than $15,000 in liquid assets.
• Must live in house 9 years
• Subject to re-capture  tax if house is sold within 9 year period, or realize a gain from sale or income rises significantly
• Can be combined with other programs. These may be subject to different rules so check with your lender.

 ** may be subject to change, please check with your accountant and lender.  Call us for a list of approved lenders.

Robert Indiana’s LOVE comes to town

It’s exuberating enough that one can walk outside of our little Real Estate office on Elm Street in Rockland, Maine and walk 2 blocks to see the ocean.

But now we can walk across the street and behold one of the most famous Pop Art sculptures in the world, the LOVE sculpture. And actually there are two LOVE sculptures!!!

From June 20, 2009 through October 25, 2009, the Farnsworth Art Museum will feature our very own Vinalhaven resident, Robert Indiana. The exhibit will feature some of his most famous works, including the 3 sculptures: LOVE, EAT, and HOPE as well as an extensive collection from his Star of Hope Oddfellows Hall home and studio on Vinalhaven.

 Although the Love symbol was toyed with on Robert Indiana’s poems from the late 1950’s, it was the commissioning by the Museum of Modern Art for their 1965 Christmas Card that threw the iconoclast into mass appeal. After countless posters, T-shirts, jewelry, and even a US stamp in 1970—the symbol today is as popular as the peace symbol or happy face—am I the only one that remembers that?

In fact it was Christmas 1972 that my grandmother gave me a gold (electroplate) LOVE ring as a stocking stuffer. I still have it today in its original jewelry box! Who would have known that just outside my office door 37 years later I would find the original sculpture!

[View with PicLens]

In addition, starting May 16 and continuing through August 30,  Jamie Wyeth’s “Seven Deadly Sins” will be shown for the first time since their premier in New York in 2007.

Also opening on May 16, will be a selection of illustrations and paintings of N.C. Wyeth, renowned as one of America’s foremost illustrators.

What a great year to be part of the art scene in Rockland.  There is much more to come. Look for further updates here or on the Farnsworth’s site @farnsworthmuseum.org.

This is a pretty big deal!  People all across the USA watched the nomination this morning and took note.  The Lime Rock Inn received a reservation during the segment and the phone at the Chamber has been ringing off the hook.  Congratulations Rockland!  You are a cool town!

The following criteria had to be met: 

1.  Have to be able to get a Great Cup of Coffee

2.  Good Food

3.  When you leave to visit the big City, you always want to come back

4.  More Art Galleries than Country Stores–this is not quaint America but Hip

5.  Population less than 10,000

For a peak at their magazine, which is jam packed with terrific travel hints, updates, and out of the ordinary articles (”the cow chip throwing capital of the world” ) go to www.BudgetTravel.com

Ducktrap River from bridge

People often wonder what outside activities to participate in throughout our long winters in Midcoast Maine.  There is skating on the many ponds and lakes, ice fishing, snow shoeing, snow mobiling, and alpine skiing at the Camden Snow Bowl, to name a few.    This winter, Midcoast Mainers have been particularly fortunate in enjoying a long season of these various sports

One activity that is a great work-out and enjoys the snow and scenery, without costing anything, is cross-country skiing.  The best place for cross country skiing in the Camden/ Rockland area is right in Lincolnville at Tanglewood www.tanglewood4h.org .  There are 12 miles of enchanting trails that are groomed (with snowmobile) by Tanglewood volunteers specifically for hikers, snow-shoers, and cross country skiers.  The trails are posted at the entrance of Tanglewood and give you the option of skiing over the Ducktrap River via a suspension footbridge,  along the river, or a long loop in the woods.  One trail will take you beyond the Tanglewood boundaries to Cobbtown Road if you are up for a longer trek.   It is truly magical and because the trails are protected by trees, the snow seems to last a lot longer than what you see around town.

Historically, the Druids used Shamrock as a lucky charm.  They believed the world worked its powers in multiples of 3.   Around the 5^th century, Saint Patrick used the Shamrock to illustrate the doctrine of the Trinity.

The term “wearing o’ the green” is derived from the custom of wearing the Shamrock on the lapel.

Happy Saint Patrick’s Day !

WINTER FUN

Although winter isn’t really over yet, we can start to think about spring. But before we forget how much snow and cold a Maine winter can produce, it might be worth remembering all the fun we had skating, skiing, tobogganing or simply building a snowman. Perhaps we should mention here that the world’s largest SNOWWOMAN was constructed in Bethel, Maine last winter. Since there was no challenge to that record this year the folks in Bethel took the year off. I was disappointed when I recently passed by the site of last years “Olympia” and saw only a snow covered field where last year stood the most incredible snowman/woman. I don’t remember all the statistics, but for scale, let it be noted that the eyelashes are six foot long skis. The media, and the Guinness Book of Records reports “Olympia” as being 122 ft and 1 inch tall and weighing in at 13,000,000 lbs. She didn’t melt away until July. Now you couldn’t have that much fun in the city could you?