Harbor Springs Real Estate Newsletter

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Harbor Springs Real Estate Newsletter, Spring 2009 Presented by : Jared Hammond, Realtor®

In This Issue
• 2009 Home Buyer Tax Credits
• Harbor Springs Realty Merger
• Hotel Janelle Development
• Featured Property

2009 Home Buyer Tax Credits
For first time home buyers, an $8,000 tax credit is available! The title is misleading, however, because you do not literally have to be a first time home buyer. To qualify as a "first time" home buyer you must have not owned a principal residence during the three year period prior to purchase. Here is a breakdown of the new credit and how it works:

• Credit is equal to up to $8,000 or 10% of the purchase price
• Does not have to be repaid. Credit is REFUNDABLE.
• Good for homes purchased between Jan. 1, 2009 and before Dec. 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.
• Home must be a single family residence used as principal residence
• Income limit: Full credit available if AGI of no more than $75,000 for individuals and $150,000 for couples. Phases out for higher AGI.
This is an excellent and exciting opportunity for those who qualify and are in a position to purchase a home.
In Michigan, the news may get even better!
On March 19th, 2009 the Michigan Senate approved a $10,000 state income tax credit for homebuyers who purchase their home in 2009 or 2010. If you plan to purchase, you may be able to claim a credit for 10 percent of the purchase price or $10,000, whichever is less. The bill now moves to the House for approval. It passed the Senate with a 36-0 vote.

Harbor Springs Realty Merger
This past winter, Harbor Springs Realty merged with Coldwell Banker Schmidt Realtors of Harbor Springs. Their new office is located at the entrance to Birchwood Farms Golf and Country Club (the Coldwell Banker office.) Harbor Springs Realty broker-owners, licensed assistants, and rental manager are now working from the new location.

This is an exciting opportunity to provide more rental options for guests including more rental properties to choose from, and vacation protector insurance. If you would like to learn more about the vacation rental program please visit: www.HolidayVacationRental.com

Hotel Janelle Development
The Cottage Company of Harbor Springs has begun the Hotel Janelle development project. Construction is said to be begin sometime in 2009. The goal is to be one of the Midwest's finest condominium hotels, and will be located in downtown Harbor Springs. Upon completion, the property will have 18 large luxurious suites, an indoor pool and spa, rooftop cocktail deck with views of beautiful lake Michigan, an exercise club, croquet lawn, and many more features and accommodations for guests.
Suites will feature floor plans with one, two, or three fully furnished bedrooms. Other features may include hardwood floors, fireplaces, nine to ten foot ceilings, custom cabinetry, granite counters, wireless internet, flat screen televisions, room safes, steam showers, and private label items created exclusively for the hotel.

This will be a one of a kind property and a one of a kind opportunity. With only 18 suites, availability is extremely limited. For more information please visit www.hoteljanelle.com. If you wish to reserve a room to purchase, and would like to work with me as your Realtor representing you (a buyer's agent) please contact me. If you choose not to have a buyer's agent I would greatly appreciate it if you allowed me to refer you to the listing agent.

Hotel Janelle is brokered by Graham Real Estate. Author is not an agent nor affiliated with Broker. Author is a licensed Realtor for Coldwell Banker. All information believed reliable, but not guaranteed.

Featured Property

The Water Street Inn - Boyne City, Michigan
This Condominium Hotel Suite is located within perfect walking distance of restaurants, entertainment, and shopping in downtown Boyne City. Community grounds feature a groomed sand beach, irrigated landscaping and lawn, elevator, front desk reception, and wireless internet.

Suite #314 is available now! Spectacular sunsets, beautiful blue lake Charlevoix water, covered balcony, lake views from your bedroom and living room, two-hundred feet of sandy beach, and you can rent it out when you aren't using it.

Please contact Jared Hammond for more information about this property. Priced to sell at only $195,900!
MLS# 420921

Jared Hammond, Realtor
Coldwell Banker Schmidt
6789 S. Lake Shore Drive
Harbor Springs, MI 49740

231-526-1100 x 228
On the web at:


All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither broker(s) nor agent(s) shall be responsible for any typographical errors, misinformation or misprints, and shall be held totally harmless.


Jared Hammond

Jared Hammond

Real Estate Associate
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