A list of homes for sale in Grapevine, Texas, MLS (as of 6/27/2009)

As of this report, there are only 16 additional homes available for sale in the MLS in Grapevine compared to 90 days ago.  The Grapevine, Texas market remains healthy, with a strong potential for great deals for both buyers and sellers.

View an easy to read list of all homes currently available for sale in the Grapevine, Texas, MLS (Multiple Listing Service), as of 6/27/2009. Click here to view a complete list of the 201 homes available for sale in Grapevine, Texas, MLS.

Narrow your search, click the price ranges below to view smaller groups of available Grapevine, TX homes.

Price Range # Homes
$0 – 149,999 12
$150,000 – 199,999 35
$200,000 – 249,999 22
$250,000 – 299,999 36
$300,000 – 399,999 52
$400,000 – 100,000,000 44
Total
201

Brenda Magness, Brenda Blaser & Pam Yoakum Realty Group serves buyers and sellers of real estate in North Texas, including the cities of Grapevine, Southlake, Colleyville, Westlake and Keller.

A complete listing of all there is to do in Grapevine this summer

SummerHeader

GWLTipBucket

SummerBlast

Now through September 4

Stay close to home this summer for a Grapevine Staycation! Spectacular summer family fun including:

Free Fireworks every Friday night at 9:30 p.m. along the shores of Lake Grapevine.

Unique hotels and resorts with great summer packages and rates along with special events all summer.

Attractions for everyone such as the Grapevine Vintage Railroad, Duck Riders tours, Grapevine Wine Trail, Grapevine Public Art Trail, Lake Grapevine, and more.

Great events throughout the summer including Monty Python Madness, Summer Nights, USTA Women’s Pro Circuit Tennis Tournament, Summer National Fencing Championship, and more.

Shopping and dining for everyone in Historic Downtown Grapevine and at Grapevine Mills mall.

For tickets, schedules or more information, visit us at GrapevineTexasUSA.com/Summer
817-410-3185


SummerFest at the Gaylord Texan

Summerfest09

Take a Short Trip to Big Summer Fun at Texas’ Ultimate Staycation Destination
This summer, Gaylord Texan invites visitors to experience a luxury destination vacation minus the travel expenses at the grandest hotel in the Lone Star State. In addition to the property’s impressive amenities, its fifth-annual SummerFest event, taking place Thursdays through Sundays between May 21 and September 6, 2009, will feature a variety of festive events and entertainment for adults and families.

CULINARY EVENTS & ACTIVITIES
Junior Chefs Camp
“Taste of the Texan” Restaurant Chefs’ Dine-Around
“Triple-licious” Dessert Tasting for Kids (big & small)
Murder Mystery Dinner Theater
Wine & Cheese Pairings
2009 Winemaker Dinner Series
“Patron Tequila Dinner”
Mojitos and Margaritas with Bacardi
Grillin’ & Chillin’ Lakeside Sunday Brunch
Kids Eat Free Thursday Nights
“Beer & Bites” Flight

OUTDOOR EVENTS & ACTIVITIES
“Summer Blast”
City of Grapevine Firework Fridays
Poolside Dive-In Movie Night
“Splash!” Pool Party

INDOOR EVENTS & ACTIVITIES
Strolling Entertainment
Texan Rocks!
Atrium Art Tour
Train Exhibit
Photography



HiltonDFWLakesHilton DFW Lakes Themed Summer Camps

The Hilton DFW Lakes Tennis and Sports Club Staff provides themed and structured play for youth ages 7-14. Everyday is packed with activities that are designed to encourage healthy mental and physical participation.
Activities will include but are not limited to swimming, horseback riding, karate, arts and crafts, team building, sports, and general recreation games. Children will be divided by age into groups to allow the activities to be tailored to their abilities and needs.

Call for more information
817-410-6828


Camphyatt

Camp Hyatt

Camp Hyatt has now teamed up with National Geographic Kids and features all new adventures loaded with eco-friendly activities, animal crafts and facts, photo safaris and tons of locally inspired activities.   With Camp Hyatt, your children, ages 3-12, can participate in activities and adventures that focus on the culture, history, and environment surrounding the destination. From hula dancing in Hawaii to searching for authentic Native American arrowheads in Texas, all activities are supervised by trained counselors to ensure a safe and enriching experience.


Grapevine Vitnage Railroad

Grapevine Vintage Railroad

Thursday, Friday, Saturday and Sunday
1:00 p.m. – 6:00 p.m.

Great Train Robberies, Memorial Day through Labor Day
Some locals will tell you, “It ain’t safe to ride the train.” It’s all in fun though – enjoy the staged train robberies every Saturday and Sunday on the Grapevine to Fort Worth trip. Desperate desperados lurk outside the Stockyards Station and put on a great show of wacky fun.

The Grapevine Vintage Railroad travels along the historic Cotton Belt Route between Grapevine and the Fort Worth Stockyards. The railroad is serviced by two vintage locomotives which include “Puffy” the 1896 steam locomotive and oldest continuously operating steam engine in the South, and a 1953 GP-7 diesel locomotive.  Tickets are $20 for adults, $10 for children, and $18 for seniors.
817-410-3123


Summer Nights

Summer Nights

Friday, July 10 – Neighbor Night
Sponsored by Bank of the West

7:00 p.m.
Come out to meet your Historic Downtown Grapevine merchants and community groups with your entire family.

Friday, July 17 – The Colors and Flavors of Main Street
Sponsored by Texas Nissan of Grapevine
7:00 p.m.

Stroll along Main Street and meet local artists showcasing their talent. Taste the flavor of Grapevine restaurants and enjoy music from local favorite, Zack King Band.

Friday, July 24 – Grapevine… Show Your Talent
Sponsored by Grapevine Star
7:00 p.m.

Grapevine’s 3rd annual talent search. Fun for all ages and talents. Local celebrities judge participants to win fabulous prizes. Grand finale performance by Lifesong Studio Theater Academy students at 8:30 p.m.

Friday, July 31 – Aloha From Main Street
Sponsored by Classic Buick Pontiac GMC of Carrollton – Classic Chevrolet of Grapevine
7:00 p.m.

Everyone loves a beach party. Put on your favorite Hawaiian shirt and bring the whole Ohana (family). Enjoy an Elvis impersonation contest, tacky t-shirt contest, and entertainment by the Rumble Kings.


Palace

Summer Movies at the Palace Theater

E.T.: The Extra-Terrestrial
Friday, July 3
7:30 p.m.

Jailhouse Rock
Friday, August 7
7:30 p.m.

For the First Friday Film Series Summer Movies at the Palace, we are offering a two-fer promotion. Two admissions for the price of one regular $7.50 admission. What a deal!
817-410-3100

.


Grapevine Opry – In the Palace Theater

One of the premier live country music shows in the nation, the Grapevine Opry has established a tradition of excellence seldom equaled for this type of show in the country music industry. With one of the most acclaimed house bands in the Southwest, the high energy, spontaneous format of every show perfectly compliments the truly great music for which the venue is known.
The Grapevine Opry, Texas’ Premier Country Music Variety Showcase 7:30 p.m. every Saturday night – special theme shows every month. Gospel Showcase every fourth Friday at 7:30 p.m. Tickets are $15 for adults and $10 for children 12 and under.

817-481-8733

.


Mpm2009

Monty Python Madness

July 16, 17, 18, 23, 24, 25, 26, 30 & 31, 2009

During the month of July it’s the Annual Monty Python Madness Charity Festival here in Grapevine. This year, proceeds benefit The Joey Wilkins Foundation — a local charity that helps the victims of catastrophic spinal cord injuries. Yes, historic Grapevine will become officially looney.

Thursday, July 16  7:30 p.m.  Live Tribute Show at the Palace Theater
Friday, July 17  7:30 p.m. Live Tribute Show at the Palace Theater
Saturday, July 18  2:30 p.m. & 7:30 p.m. Live Tribute Show at the Palace Theater

Thursday, July 23   Whine and Cheese Shoppe Kickoff Part & Silent Auction
Friday, July 24   Monty Python Madness Festival / “Life of Brian” Outdoor Screening
Saturday, July 25  9 a.m. Sponsored Silly Walk up Main Street
Saturday, July 25  8:30 p.m. “Holy Grail” Outdoor Screening
Sunday, July 26   Monty Python Madness Festival in Grapevine

Thursday, July 30  7:30 p.m. Live Tribute Show at the Palace Theater
Friday, July 31  7:30 p.m. Live Tribute Show at the Palace Theater




Free Fireworks Show every Friday night at 9:30 p.m.
Thursdays & Saturdays
Grapevine Market
9:30 a.m. – 2:00 p.m.
Thursdays & Saturdays
Farmer’s Market
8:00 a.m. – sell-out
SummerFest at the Gaylord Texan
Summer Nights in Downtown Grapevine
4th of July Fireworks Extragavanza over Lake Grapevine
July 24, 25 & 26, 2009
Monty Python Madness
September 17, 18, 19 & 20, 2009
GrapeFest

160x600SummerBlastB

Tennis160x600

Fencing160x600

Follow GrapevineGurl on:

Become a Fan of Grapevine:

www.GrapevineTexasUSA.com |   1-800-457-6338 © Grapevine Convention & Visitors Bureau

First Time Buyers, $8000 Home Buyer Tax Credit Review

This is a good time to review in detail the $8,000 Home Buyer Tax Credit for first time buyers, included in the American Recovery and Reinvestment Act of 2009.

  • The tax credit is for first-time home buyers only. For the tax credit program, the IRS defines a first-time home buyer as someone who has not owned a principal residence during the three-year period prior to the purchase.
  • The tax credit does not have to be repaid.
  • The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
  • The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009.
  • Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.

Questions and Answers about the Home Buyer Tax Credit

  1. Who is eligible to claim the tax credit?
    First-time home buyers purchasing any kind of home—new or resale—are eligible for the tax credit. To qualify for the tax credit, a home purchase must occur on or after January 1, 2009 and before December 1, 2009. For the purposes of the tax credit, the purchase date is the date when closing occurs and the title to the property transfers to the home owner.
  2. What is the definition of a first-time home buyer?
    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 home ownership history of both the home buyer and his/her spouse.

    For example, if you have not owned a home in the past three years but your spouse has owned a principal residence, neither you nor your spouse qualifies for the first-time home buyer tax credit. However, unmarried joint purchasers may allocate the credit amount to any buyer who qualifies as a first-time buyer, such as may occur if a parent jointly purchases a home with a son or daughter. Ownership of a vacation home or rental property not used as a principal residence does not disqualify a buyer as a first-time home buyer.

  3. How is the amount of the tax credit determined?
    The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
  4. Are there any income limits for claiming the tax credit?
    Yes. The income limit for single taxpayers is $75,000; the limit is $150,000 for married taxpayers filing a joint return. 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 phaseout range for the tax credit program is equal to $20,000. That is, 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.
  5. What is “modified adjusted gross income”?
    Modified adjusted gross income or MAGI is defined by the IRS. To find it, a taxpayer must first determine “adjusted gross income” or AGI. AGI is total income for a year minus certain deductions (known as “adjustments” or “above-the-line deductions”), but before itemized deductions from Schedule A or personal exemptions are subtracted. On Forms 1040 and 1040A, AGI is the last number on page 1 and first number on page 2 of the form. For Form 1040-EZ, AGI appears on line 4 (as of 2007). Note that AGI includes all forms of income including wages, salaries, interest income, dividends and capital gains.

    To determine modified adjusted gross income (MAGI), add to AGI certain amounts of foreign-earned income. See IRS Form 5405 for more details.

  6. If my modified adjusted gross income (MAGI) is above the limit, do I qualify for any tax credit?
    Possibly. It depends on your income. Partial credits of less than $8,000 are available for some taxpayers whose MAGI exceeds the phaseout limits.
  7. Can you give me an example of how the partial tax credit is determined?
    Just as an example, assume that a married couple has a modified adjusted gross income of $160,000. The applicable phaseout to qualify for the tax credit is $150,000, and the couple is $10,000 over this amount. Dividing $10,000 by the phaseout range of $20,000 yields 0.5. When you subtract 0.5 from 1.0, the result is 0.5. To determine the amount of the partial first-time home buyer tax credit that is available to this couple, multiply $8,000 by 0.5. The result is $4,000.

    Here’s another example: assume that an individual home buyer has a modified adjusted gross income of $88,000. The buyer’s income exceeds $75,000 by $13,000. Dividing $13,000 by the phaseout range of $20,000 yields 0.65. When you subtract 0.65 from 1.0, the result is 0.35. Multiplying $8,000 by 0.35 shows that the buyer is eligible for a partial tax credit of $2,800.

    Please remember that these examples are intended to provide a general idea of how the tax credit might be applied in different circumstances. You should always consult your tax advisor for information relating to your specific circumstances.

  8. How is this home buyer tax credit different from the tax credit that Congress enacted in July of 2008?
    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.
  9. How do I claim the tax credit? Do I need to complete a form or application?
    Participating in the tax credit program is easy. You claim the tax credit on your federal income tax return. Specifically, home buyers should complete IRS Form 5405 to determine their tax credit amount, and then claim this amount on Line 69 of their 1040 income tax return. No other applications or forms are required, and no pre-approval is necessary. However, you will want to be sure that you qualify for the credit under the income limits and first-time home buyer tests. Note that you cannot claim the credit on Form 5405 for an intended purchase for some future date; it must be a completed purchase.
  10. What types of homes will qualify for the tax credit?
    Any home that will be used as a principal residence will qualify for the credit. This includes single-family detached homes, attached homes like townhouses and condominiums, manufactured homes (also known as mobile homes) and houseboats. The definition of principal residence is identical to the one used to determine whether you may qualify for the $250,000 / $500,000 capital gain tax exclusion for principal residences.
  11. I read that the tax credit is “refundable.” What does that mean?
    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 all of the 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).

  12. I purchased a home in early 2009 and have already filed to receive the $7,500 tax credit on my 2008 tax returns. How can I claim the new $8,000 tax credit instead?
    Home buyers in this situation may file an amended 2008 tax return with a 1040X form. You should consult with a tax advisor to ensure you file this return properly.
  13. Instead of buying a new home from a home builder, I hired a contractor to construct a home on a lot that I already own. Do I still qualify for the tax credit?
    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.

    In contrast, for newly-constructed homes bought from a home builder, eligibility for the tax credit is determined by the settlement date.

  14. Can I claim the tax credit if I finance the purchase of my home under a mortgage revenue bond (MRB) program?
    Yes. The tax credit can be combined with the MRB home buyer program. Note that first-time home buyers who purchased a home in 2008 may not claim the tax credit if they are participating in an MRB program.
  15. I live in the District of Columbia. Can I claim both the Washington, D.C. first-time home buyer credit and this new credit?
    No. You can claim only one.
  16. I am not a U.S. citizen. Can I claim the tax credit?
    Maybe. Anyone who is not a nonresident alien (as defined by the IRS), who has not owned a principal residence in the previous three years and who meets the income limits test may claim the tax credit for a qualified home purchase. The IRS provides a definition of “nonresident alien” in IRS Publication 519.
  17. Is a tax credit the same as a tax deduction?
    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.

  18. I bought a home in 2008. Do I qualify for this credit?
    No, but if you purchased your first home between April 9, 2008 and January 1, 2009, you may qualify for a different tax credit. Please consult with your tax advisor for more information.
  19. Is there any way for a home buyer to access the money allocable to the credit sooner than waiting to file their 2009 tax return?
    Yes. Prospective home buyers who believe they qualify for the tax credit are permitted to reduce their income tax withholding. Reducing tax withholding (up to the amount of the credit) will enable the buyer to accumulate cash by raising his/her take home pay. This money can then be applied to the downpayment.

    Buyers should adjust their withholding amount on their W-4 via their employer or through their quarterly estimated tax payment. IRS Publication 919 contains rules and guidelines for income tax withholding. Prospective home buyers should note that if income tax withholding is reduced and the tax credit qualified purchase does not occur, then the individual would be liable for repayment to the IRS of income tax and possible interest charges and penalties.

    Further, rule changes made as part of the economic stimulus legislation allow home buyers to claim the tax credit and participate in a program financed by tax-exempt bonds. Some state housing finance agencies, such as the Missouri Housing Development Commission, have introduced programs that provide short-term credit acceleration loans that may be used to fund a downpayment. Prospective home buyers should inquire with their state housing finance agency to determine the availability of such a program in their community.

    The National Council of State Housing Agencies (NCSHA) has compiled list of such programs, which can be found here.

  20. If I’m qualified for the tax credit and buy a home in 2009, can I apply the tax credit against my 2008 tax return?
    Yes. The law allows taxpayers to choose (“elect”) to treat qualified home purchases in 2009 as if the purchase occurred on December 31, 2008. This means that the 2008 income limit (MAGI) applies and the election accelerates when the credit can be claimed (tax filing for 2008 returns instead of for 2009 returns). A benefit of this election is that a home buyer in 2009 will know their 2008 MAGI with certainty, thereby helping the buyer know whether the income limit will reduce their credit amount.

    Taxpayers buying a home who wish to claim it on their 2008 tax return, but who have already submitted their 2008 return to the IRS, may file an amended 2008 return claiming the tax credit. You should consult with a tax professional to determine how to arrange this.

  21. For a home purchase in 2009, can I choose whether to treat the purchase as occurring in 2008 or 2009, depending on in which year my credit amount is the largest?
    Yes. If the applicable income phaseout would reduce your home buyer tax credit amount in 2009 and a larger credit would be available using the 2008 MAGI amounts, then you can choose the year that yields the largest credit amount.

A list of homes for sale in Southlake, Texas, MLS (as of 6/2/2009)

As of this report, there are only 19 additional homes available for sale in the MLS in Southlake compared to 2 months ago (.05% increase).  The Southlake market appears to be remaining healthy, with a strong potential for great deals for both buyers and sellers.

View an easy to read list of all homes currently available for sale in the Southlake, Texas, MLS (Multiple Listing Service), as of 6/2/2009. Click here to view a complete list of the 399 homes available for sale in Southlake, Texas, MLS.

Narrow your search, click the price ranges below to view smaller groups of available Southlake, TX homes.

Price Range # Homes
$0 – 399,999 36
$400,000 – 499,999 70
$500,000 – 599,999 63
$600,000 – 799,999 87
$800,000 – 999,999 60
$1,000,000+ 83
Total 399

Brenda Magness, Brenda Blaser & Pam Yoakum Realty Group serves buyers and sellers of real estate in North Texas, including the cities of Grapevine, Southlake, Colleyville, Westlake and Keller.

Real Estate Market Trends in Fort Worth, Opposite of US

In the first quarter real estate report recently released from leading online home value site Zillow, it showed the US continued to experience home value declines.  For the ninth consecutive quarter home values fell, declining 14.2 percent from a year ago in year-over-year home values (YoY).

There was good news for our local market, according to Zillow, home values in Fort Worth increased 14% in the first quarter of 2009, compared to the first quarter of 2008.  Other local highlights, Colleyville, Texas with a +15.5% year-over-year gain, Keller, Texas +14.4% (YoY),  and North Richland Hills +15.8% (YoY).

Click cities below for a complete listing of homes available for sale in the MLS.
Southlake
Colleyville
Grapevine
Keller

Note, first quarter results for the cities of Southlake and Grapevine were not provided by Zillow.