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Watch for the New American Homes' LIFEhouse opening in 2010. It's the home for the rest of your life.

SPECIAL EDITION - NOVEMBER 2009

TAKE ADVANTAGE OF NEW TAX CREDITS!!
The federal government has extended and expanded the new home tax credit. This is good news for anyone planning a move to a new residence.

First-time homebuyers contracting to buy a new home by April 30, 2010, and closing on that home by June 30, 2010, can receive an $8,000 tax credit from Uncle Sam. (A first time buyer is someone who has not owned a home for three years.)

Existing homeowners contracting to buy a new principal residence by April 30, 2010, and closing before June 30, 2010, may be eligible for a $6,500 tax credit. Existing home owners can claim the $6,500 tax credit if they have been residing in their principal residence for five consecutive years out of the last eight.

In more good news, the income eligibility limits to claim the full credit amount for both groups of home buyers have been raised from $75,000 for single taxpayers and $150,000 for married taxpayers filing a joint return to $125,000 for individuals and $225,000 for married couples.

Newport Cove, buyers who opt for our ENERGY STAR home package can qualify for an additional $2,000 tax credit through New American Homes.

With mortgage rates at historic lows, the government willing to “kick in” something toward one’s down payment and with Newport Cove’s special financing packages, now is an unusually good time to purchase a new home. This may be a once-in-a-lifetime opportunity.

As the legendary financier Sir John Templeton advised, The time of maximum pessimism is the best time to buy and the time of maximum optimism is the best time to sell. Or to put it another way, there’s that old Wall Street adage that says: Buy straw hats in the winter.

So, think about this: Contract to build a Newport Cove home in the winter, and you can move in next spring!

NEW COTTAGE FLOORPLAN
Many of our visitors have indicated an interest in something smaller than our current Cottage plans. We are introducing a new floorplan called the Pebblestone. This 1.5-story home will be approximately 1,600 square feet and will feature a master suite, great room, kitchen and dining room on the first floor, two bedrooms plus bath upstairs, a full basement and two-car garage. The base price is $325,000. Plans are available in the sales office, or call us and we will mail them to you.

Our sales office and models hours are open noon-4:30pm Saturdays or Sundays or by appointment. 847.726.2727.