The Littleton Housing Authority (LHA) recently received notification from Arapahoe County of two HOME Funds awards, totaling $300,000. Each of the awards will be used for housing rehabilitation.

For more information go to:

http://www.littletongov.org/housing/default.asp

Dee Maas, Metro Brokers The Petrelli Team, 720-244-6481, dee@petrelliteam.com

Old Littleton Home Specialists - The Brian Petrelli Team

Address	Details	Description
6649 s foresthill st littleton 80120 $145,900 est $	Beds: Fin Sq Ft: 1253 Baths: Year: # of Photos Avail: V-tour Available: MLS #: 709585 Listing Office: keller williams realty success	Broker Remarks: great potential in littleton, needs some updating, seller requires pre-qual from its approved lender on all financed off... more... Click Here For Full Details & Pics Disclosures
See More Home Like This Here: Old Littleton Homes, Bank Owned Presented By: Dee Maas 303-720-244-6481
The data relating to real estate for sale in this web site comes in part from the Internet Data eXchange ("IDX") program of METROLIST, INC. Real estate listings held by brokers other than The Brian Petrelli Team are marked with the IDX Logo. All information subject to change and should be independently verified. Disclosures

Dee Maas, 720-244-6481, dee@petrelliteam.com

Old Littleton Home Specialists - The Brian Petrelli Team

 Littleton Hosts Foreclosure Prevention Fair on April 25 February 27, 2009

---

Littleton and the Colorado Foreclosure Hotline are holding a Foreclosure Assistance Fair on Saturday, April 25 at the Deer Creek Church. For more information, please contact Sarah Noel at 303.868.4112. Learn more about CHFA’s foreclosure prevention efforts.
Littleton Foreclosure Assistance Fair
Saturday, April 25
9:00am - Noon
Deer Creek Church
8131 S. Pierce St.
Littleton, CO

 Your Old Littleton Realtor, Dee Maas, 720-244-6481, for houses in Littleton go to my website

 Old Littleton Home Specialists - The Brian Petrelli Team

CNN.Money.com has ranked Littleton as one of the best places to live:  Read more:

http://money.cnn.com/magazines/moneymag/bplive/2008/snapshots/PL0845255.html

Dee Maas, Realtor, The Petrelli Team, 720-244-6481, dee@petrelliteam.com

• The law defines "first-time home buyer" as a buyer who has not owned a principal residence during the three-year period prior to the purchase. For married taxpayers, the law tests the homeownership history of both the home buyer and his/her spouse.

• The most significant difference is that this tax credit does not have to be repaid. Because it had to be repaid, the previous "credit" was essentially an interest-free loan. This tax incentive is a true tax credit. However, home buyers must use the residence as a principal residence for at least three years or face recapture of the tax credit amount. Certain exceptions apply.

• No. A tax credit is a dollar-for-dollar reduction in what the taxpayer owes. That means that a taxpayer who owes $8,000 in income taxes and who receives an $8,000 tax credit would owe nothing to the IRS.

• A tax deduction is subtracted from the amount of income that is taxed. Using the same example, assume the taxpayer is in the 15 percent tax bracket and owes $8,000 in income taxes. If the taxpayer receives an $8,000 deduction, the taxpayer’s tax liability would be reduced by $1,200 (15 percent of $8,000), or lowered from $8,000 to $6,800.

• The fact that the credit is refundable means that the home buyer credit can be claimed even if the taxpayer has little or no federal income tax liability to offset. Typically this involves the government sending the taxpayer a check for a portion or even the entire amount of the refundable tax credit.
• For example, if a qualified home buyer expected, notwithstanding the tax credit, federal income tax liability of $5,000 and had tax withholding of $4,000 for the year, then without the tax credit the taxpayer would owe the IRS $1,000 on April 15th. Suppose now that the taxpayer qualified for the $8,000 home buyer tax credit. As a result, the taxpayer would receive a check for $7,000 ($8,000 minus the $1,000 owed).

• The tax credit amount is reduced for buyers with a modified adjusted gross income (MAGI) of more than $75,000 for single taxpayers and $150,000 for married taxpayers filing a joint return. The tax credit amount is reduced to zero for taxpayers with MAGI of more than $95,000 (single) or $170,000 (married) and is reduced proportionally for taxpayers with MAGIs between these amounts.

• Yes. For the purposes of the home buyer tax credit, a principal residence that is constructed by the home owner is treated by the tax code as having been "purchased" on the date the owner first occupies the house. In this situation, the date of first occupancy must be on or after January 1, 2009 and before December 1, 2009.

• Mortgage rates are at historic lows.
• Housing prices have come down over the past 2 years and it is a buyers market.
• The government has never implemented a program like this - it is like giving you a check for up to $8000!

Address	Details	Description
12611 w brandt dr littleton 80127 $249,900 est $	Beds: Fin Sq Ft: 2355 Baths: Year: # of Photos Avail: V-tour Available: MLS #: 719270 Listing Office: mb the brian petrelli team	Broker Remarks: lease option available!! completely remodeled westgold meadows home, featues new hd wd fls, granite cntrs, new carpet & ... more... Click Here For Full Details & Pics Disclosures
See More Home Like This Here: Presented By: Phillip Rupert 303-847-3918
The data relating to real estate for sale in this web site comes in part from the Internet Data eXchange ("IDX") program of METROLIST, INC. Real estate listings held by brokers other than The Brian Petrelli Team are marked with the IDX Logo. All information subject to change and should be independently verified. Disclosures