Jimmy White Thinks

Insight and Observations About Maryland Real Estate

Kent Island Waterfront for Under $900,000

dscn8342patio3Perfect describes this gorgeous waterfront home located in the water privileged community of Bay City, where peaceful living and breath taking water views await. Light filled and graced by gorgeous water views, this home will delight and suprise you. Full of character and charm this home offers many living spaces.
A thoughtful renovation by the current owners has dramatically changed the ambience and flow of this 2500 sq. ft. home. Uniquely designed for easy living and entertaining, the abundant space provided has an open flowing floor plan that is conducive for all lifestyles.
The gourmet kitchen is centrally located. Well laid out with beautiful cabinetry, great appliances and ceramic floors. The kitchen island is not only functional but also provides extra seating for entertaining or relaxing.
Of course the obvious focal point of the family room is the phenomenal water views and sunsets. However, this warm inviting space offers a fireplace, built-in book shelves complete with wet bar and lots of seating areas for family and friends.
Among the many enchanting allures of this waterfront haven is the master suite where large windows frame the water views like art work. This peaceful space is completed with a full bath and a huge walk-in closet.
Relax in the large hot tub and soak in the tranquil vistas from the 2 tier screened porch. A perfect place to watch the fantastic sunsets or ships pass. And from here you are only steps away from the shoreline which is rip rapped and has a pier with 3 ft MLW.
Enjoy the Eastern Shore waterfront lifestyle and allure of this fantastic waterfront residence. Let it become the fulfillment of your dreams.

Posted in Market

Jimmy White lives, works and plays at Prospect Bay

Prospect Bay is a private community located in Grasonville Maryland. Prospect Bay is conveniently located approximately 15 minutes from the Chesapeake Bay Bridge and about one hour from Washington D.C. It is home to the Prospect Bay Golf and Country Club. The homes are a mix of waterfront and waterviews on Eastern Bay, Prospect Bay and Greenwood Creek as well as homes situated along the golf course.

Jimmy White is a resident of Prospect Bay and takes much pride and pleasure in specializing in home sales in this special community. For a complete tour of the community, country club and facilities and to see any of the homes currently available in Prospect Bay contact Jimmy direct at 410-320-3647 or by email at jimmywhite@longandfoster.com.

Follow the links below to see homes currently for sale in Prospect Bay as well as for more information on the Prospect Bay Country Club.

CLICK HERE for a listing of homes for sale in Prospect Bay.

Posted in Market

Kent Island Waterfront Estate

Kent Island Waterfront Home

209 Lighthouse View

When the ideal home, a shared sense of community pride, and the great outdoors mesh together, a majestic harmony emerges. That harmony is exactly what can be found at one particular property on Queen Anne County’s Lighthouse View Drive.

Nestled in the heart of Kent Island’s exclusive Bloody Point Farm community sits a home with as much character and architectural genius as some of Maryland’s most historic structures. Defined by an intrinsic charm, which even the most ambitious designers aspire to create, and an outdoor setting that is as serene as it is full of life, this 5,000 square foot home is one of the neighborhood’s most prized properties.

It would be next to impossible to accurately depict the ambiance surrounding this residence without first exploring the equally enchanting community to which it belongs. Bloody Point Farm is located at the southeastern corner of Kent Island, the largest island in the Chesapeake Bay. Originally serving as a trading post, Kent Island has flourished into a remote town known for its scenic nature trails, picturesque marinas, restored villages, and eclectic restaurants. The area also serves as a sanctuary for anglers, vacationers, avid water lovers, and anyone who has an appetite for natural history.

Elegant Entry and Curving Staircase

Elegant Entry and Curving Staircase

Home to a mere 15 residences, Bloody Point Farm is a quaint neighborhood with properties that have become vastly sought after. Each dwelling within the community enjoys both a waterfront view of the Chesapeake Bay and some of the area’s prettiest woodlands. Blending history, lifestyle, scenic splendor, and recreational enrichment, the development is an oasis, spanning well beyond that of an ordinary water community.

From this unique community comes one specific home that can only be described – cliché as it sounds – as a dream come true. Custom built and occupied by original owners, Dr. James Levy and his wife Joyce, this residence has nothing cookie cutter about it. From the moment the front doors open to reveal a dramatic two-story foyer complete with a curved staircase, the spacious nature of the home and the ornate detail that went into planning and constructing it speak volumes.

As aesthetically appealing as it is functional, the home is equipped with the finest of features. Showcased throughout the home are hardwood floors, top-of-the-line appliances, and a gourmet kitchen with Corian counters. The home also boasts lavish bathrooms, including a master bath with his and her vanities and a hot tub that lends itself to a private view of the Bay. A spacious three-car garage is attached to the home, while a detached two-car garage sits adjacent.

“One of the things that immediately caught my eye is that, although this house has an impressive – almost stately – interior and exterior, it has an inherent warmth about it,” said Jimmy White, the Long & Foster representative handling the offer for sale on behalf of the owners. “This type of comfort gives owners a unique livability in feel.” The home’s open architectural design is interspersed with custom structures, including an array of sculpted built-ins and magnificent window displays strategically situated to capture the beauty of the Chesapeake from every angle.

In-ground Pool in a Private Setting

In-ground Pool in a Private Setting

Tucked in the home’s floor plan are a number of escapes as well. Whether wanting to relax in the cozy family room, enjoy a peaceful cup of coffee in the sunroom, or tap self-inspiration in the study, these rooms – complete with upgraded amenities and spectacular waterfront views – are certain to fulfill any quest. The upper level of the home has three bedrooms, including a spacious master bedroom with a private balcony overlooking the Bay. A huge bonus room, which could serve as a fourth or fifth bedroom, is also included.

Intricate planning is just as evident when admiring the property’s 2.95 acres. Professional landscaping integrates the property’s tall sea grass, billowing foliage, and accenting plant beds with a heated pool and private pier with lifts. The result? Tranquility, effortless beauty, and a soothing haven in which to admire Kent Island at its best.

Perhaps what sets this property apart is its breathtaking views. From all vantage points, the home offers a picture-perfect panorama. The front of the home opens to a view of Kent Island’s most serene woodlands, while its rear opens westward to the calm seascape of the Chesapeake Bay.

While gazing at the Bay, an eye may be drawn to the sailing of ships and cruise-liners making their way to and from Baltimore. The historic Bloody Point Lighthouse is also within close range. Built in 1882, the Lighthouse stands, slightly tilted, at 56-feet tall. Suspected to have earned its name from earlier days of upheaval involving English colonists, native Indian groups, and French pirates, this landmark is now closed to the public.

Endless Water Views & Breathtaking Sunsets

Endless Water Views & Breathtaking Sunsets

Along with the breathtaking waterfront and woodland views, the most brilliant sunsets can be seen day after day from the poolside patio or from any of the many rooms that open to the Chesapeake. “Every evening, Joyce and I looked forward to being greeted by the serenity of the sunset reflecting off the waters of the Bay,” said Dr. Levy. “As evening turns into night, we are also repeatedly smitten with the amazing view of the stars, often admiring the twilight skyline from the balcony off our bedroom.”

This home is simply a hidden treasure. With a rare individual style that gracefully exemplifies modesty yet charm, 209 Lighthouse View Drive complements Kent Island’s deep-rooted tradition and Bloody Point Farm’s unusual nobility.

For more information on this exclusive propery, including photos and a virtual tour, please visit my website.

Posted in Market

Kent Island waterfront sells for $950,000

On December 30, 2009 311 Queens Ct in Stevensville went to settlement. Located in the sought after community of Queen Anne Colony this home is situated on a .54 acre waterfront lot. It has a party dock on looking the Chesapeake Bay with 3+ ft mlw. By water it is only minutes to the waterfront restaurants of Kent Narrows and an easy run to St Michaels.

The 2454 sq foot home has four bedrooms, 3.5 baths, gourmet kitchen and a 3 season porch.

This property was listed by Long And Foster Real Estate. Jimmy White and Mary Elaine Casson were the listing agents.

For more information call Jimmy White at 410-320-3647.

Posted in Market

The Tax Credit Extension for First Time Homebuyers

It’s official! President Obama has signed a bill that extends the tax credit for first-time homebuyers (FTHBs) into the first half of 2010. Here’s a detailed overlook at the Tax Credit along with some frequently asked questions.

By Breck J. Hapner

Who gets what? First-Time Homebuyers (FTHBs): First-time homebuyers (that is, people who have not owned a home within the last three years) may be eligible for the tax credit. The credit for FTHBs is 10% of the purchase price of the home, with a maximum available credit of $8,000. Single taxpayers and married couples filing a joint return may qualify for the full tax credit amount. Current Owners: The tax credit program now gives those who already own a residence some additional reasons to move to a new home. This incentive comes in the form of a tax credit of up to $6,500 for qualified purchasers who have owned and occupied a primary residence for a period of five consecutive years during the last eight years. Single taxpayers and married couples filing a joint return may qualify for the full tax credit amount.

What are the new deadlines? In order to qualify for the credit, all contracts need to be in effect no later than April 30, 2010 and close no later than June 30, 2010.

What are the income caps? The amount of income someone can earn and qualify for the full amount of the credit has been increased. Single tax filers who earn up to $125,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, single filers who earn $145,000 and above are ineligible. Joint filers who earn up to $225,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, joint filers who earn $245,000 and above are ineligible.

What is the maximum purchase price? Qualifying buyers may purchase a property with a maximum sale price of $800,000.

What is a tax credit? A tax credit is a direct reduction in tax liability owed by an individual to the Internal Revenue Service (IRS). In the event no taxes are owed, the IRS will issue a check for the amount of the tax credit an individual is owed. Unlike the tax credit that existed in 2008, this credit does not require repayment unless the home, at any time in the first 36 months of ownership, is no longer an individual’s primary residence.

How much are First-Time Homebuyers (FTHB) eligible to receive? An eligible homebuyer may request from the IRS a tax credit of up to $8,000 or 10% of the purchase price for a home. If the amount of the home purchased is $75,000, the maximum amount the credit can be is $7,500. If the amount of the home purchased is $100,000, the amount of the credit may not exceed $8,000.

Who is eligible for the FTHB tax credit? Anyone who has not owned a primary residence in the previous 36 months, prior to closing and the transfer of title, is eligible. This applies both to single taxpayers and married couples. In the case where there is a married couple, if either spouse has owned a primary residence in the last 36 months, neither would qualify. In the case where an individual has owned property that has not been a primary residence, such as a second home or investment property, that individual would be eligible. As mentioned above, the tax credit has been expanded so that existing homeowners who have owned and occupied a primary residence for a period of five consecutive years during the last eight years are now eligible for a tax credit of up to $6,500.

How much are current Home Owners eligible to receive? The tax credit program includes a tax credit of up to $6,500 for qualified purchasers who have owned and occupied a primary residence for a period of five consecutive years during the last eight years.

Can Homebuyers claim the tax credit in advance of purchasing a property? No. The IRS has recently begun prosecuting people who have claimed credits where a purchase had not taken place.

Can a taxpayer claim a credit if the property is purchased from a seller with seller financing and the seller retains title to the property? Yes. In situations where the buyer purchases the property, even though the seller retains legal title, the taxpayer may file for the credit. Some examples of this would include a land contract or a contract for deed. According to the IRS, factors that would demonstrate the ownership of the property would include: Right of possession; Right to obtain legal title upon full payment of the purchase price; Right to construct improvements; Obligation to pay property taxes; Risk of loss; Responsibility to insure the property; Duty to maintain the property.

Are there other restrictions to taking the FTHB credit? Yes. According to the IRS, if any of the following describe a homebuyer’s situation, a credit would not be due: They buy the home from a close relative. This includes a spouse, parent, grandparent, child or grandchild. (Please see the question below for details regarding purchases from “step-relatives.”); They do not use the home as your principal residence; They sell their home before the end of the year; They are a nonresident alien; They are, or were, eligible to claim the District of Columbia first-time homebuyer credit for any taxable year. (This does not apply for a home purchased in 2009.); Their home financing comes from tax-exempt mortgage revenue bonds. (This does not apply for a home purchased in 2009.); They owned a principal residence at any time during the three years prior to the date of purchase of your new home. For example, if you bought a home on July 1, 2008, you cannot take the credit for that home if you owned, or had an ownership interest in, another principal residence at any time from July 2, 2005, through July 1, 2008.

Can Homebuyers purchase a Home from a step-relative and still be eligible for the credit? Yes. As long as the person they buy the home from is not a direct blood relative, the purchase would be allowed.

If a parent ) Who will not live in the property) cosigns for a mortgage, will their child still be eligible for the credit? Yes, provided that the child meets the other requirements for the tax credit.

As always, please consult an accountant or other tax professional with any questions about how this legislation relates to your particular circumstances.

Interested in buying or selling? Call Jimmy White at 410-320-3647

Posted in Market
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