Saint Timothy Catholic School
Business Partner Update!
Thank you to all the Business Partners who donated or helped secure donations for the Mardi Gras Auction! We are humbled by your generosity!
- American Windows
- Educational Outfitters
- Guapo’s Restaurant
- Guleria Orthodontics
- Hola Kids, LLC
- IDE Associates
- Mary Lawrence
- Rebounderz and Sudden Combat
- The Hunter Group, Re/MAX
- Thirty One Gift, Cheryl Pezzullo Independent Consultant
Real Estate Update!
The beginning of the year always brings about hope, excitement and anticipation of good things ahead and 2015 is no different. We believe that this year will be a much better year for real estate in Northern Virginia. There are many reasons for this optimism – great rates, new financing programs, lower inventory levels, positive consumer confidence and pent-up demand.
Let’s review each of these areas.
- Great rates. Rates are crazy low right now! They are near all time historic lows. Most experts agree that they will rise slightly throughout 2015 going from the 3’s to near 5% by year’s end.
- New financing programs. Freddie Mac and Fannie Mae have both begun to accept 3% down payments for first time home buyers. There will be guidelines such as a minimum 620 credit score, borrowers will have to take an educational class, and they couldn’t have owned a home in the last 3 years to qualify. With 45% of renters delaying a home purchase because of available funds for a down payment, this should increase the number of home buyers in 2015.
- Lower inventory levels. In September of 2014, we reached a 7 year high in inventory in Northern Virginia with 9,163 houses for sale. Since that time, the number of available homes has declined each week. We now have just 5,944 homes for sale which resulted in a brisk sales month for December. Some of these properties will come back on the market this upcoming spring, but many sold. As long as we have a moderate winter weather-wise, inventory will slowly enter the market and we won’t have the accelerated inventory levels we experienced in May of 2014 due to the weather.
- Positive consumer confidence. Many more people today believe that the economy, their personal situation and the real estate market are all going to be better in the future. These optimistic expectations are leading indicators to people purchasing in the upcoming months – including housing. Additionally, Freddie Mac and builders also have high expectations of the housing market. These expectations will have a positive impact on housing in 2015.
- Pent up demand. As previously mentioned, December experienced a brisk sales month here locally. We continue to receive calls, emails and internet requests on our homes for sale. This shows us that there are many people ready to buy the right home that suits their personal lifestyle needs. Also, many people who went through distressed sales just a few years ago are able to purchase again. Job growth coupled with population growth locally will also increase demand for housing.
One other area to see home ownership grow in 2015 and beyond is the Millennial homebuyers. They believe in home ownership as a wealth building opportunity and an overwhelming majority of them will be buying in the next 5 years. Lastly, rising rental rates will push more people into ownership as a cost savings measure.
All of these positive influences in our region will strengthen our housing market in 2015 and beyond. As we see our local economy continuing to rebound after 4 years of stagnant growth, this will have a positive impact on housing. To see what this means to you, please feel free to contact me. I’m happy to provide you with a free home pricing analysis to determine your home’s current value.
Cheers in the New Year!
Why are language summer Camps Beneficial?
A new Partner joins the STS Business Partners!
Pizza Margarita in Gainesville!
Looking for Hotel Rooms for your guests?
Dulles Hilton Hotel has special offers!
Did you know that the Dulles Hilton Hotel runs specials all the time. If you would like to book any rooms please use the STS Promotion Code: N3034254 (Also, if you have a last minute request or need for rooms, you can save big money checking on their room availability - sometimes it can be up to 50% savings!!) The current rate is $79 on weekends!
G and C Auto Run a Special March Madness Promotion!
The NCAA Basketball tournament bracket will be starting soon! It is not too early to sign up! Below you will find the important dates to remember for this year's G&C March Madness Bracket. It is FREE to join, so invite your friends!
- March 15: Selection Show on CBS at 6:00 p.m. ET, pick sheets open directly following.
- March 19 (Thurs) at 12:15 p.m. ET: Pool picks must be submitted.
This year's prizes are as follows:
- 1st Place: $200 VISA Gift Card
- 2nd Place: $100 VISA Gift Card
- 3rd Place: $50 VISA Gift Card
- Last Place: Basketball lesson from our owner, Gregg Caldwell
How to sign up:
1. Go to http://www.runyourpool.com/join.cfm
2. Enter the following information:
a. In the Pool ID box, enter the number 22186
b. In the Pool Password box, enter trusttherepair
3. Fill out the form information, including a personal username and password. If you participated last year, you may use your previous username and password.
4. Make your picks, with the ability to change it right up until the tournament deadline, March 19 at 12:15 p.m.
NOTE: Winners will be contacted via E-mail, so be sure to enter a valid one. Winners must present a government issued ID to claim prize; name on ID must match the first and last name used to sign up. It's that easy. If you have any questions, feel free to contact Phillip Reamyat phillip@gandcauto.com Plus if a STS family wins, the school will also receive $200!
Email: phillip@gandcauto.com
Website: gandcauto.com
Location: 14008 Willard Rd, Chantilly, VA 20151, United States
Phone: (571) 991-3151
How much is college going to cost? When is the best time to start saving?
Will you son or daughter be the next CEO, Doctor, Engineer, or chemist who discovers the cure to cancer?
In order to do so, they will likely need a college education and more! But with college becoming more and more expense, what is a parent to do with those rising tuitions and expenses?
Many turn to the 529 College Savings plans! And for good reason.
In 1996, Congress passed and the president signed the law that allowed for deposits into a college savings plan that provided excellent tax benefits and growth for the purpose of paying for college.
The most important tax break comes in the form of forgiveness on the growth of the money deposited, when used for qualified education expenses.
Let me give you an example. If over time, you deposited $10,000 into your child's 529 plan, and that money grew to $15,000, the $5,000 growth would normally be subject to taxes, either ordinary income or capital gain. But if this $5,000 gain is used for qualified expenses, then federal tax law allows for that money to be withdrawn tax free. This can be very important!
So what are 'qualified expense'? Under the tax code, qualified expenses for college include:
tuition
room and board
mandatory fees
text books
mandatory equipment (like computers)
other fees (like lab fees)
As you can see, there are many positives associated with the 529.
At the same time, there are some concerns. What if the child does not go to college? What if they receive a partial or full scholarship?
In general, when money is removed from the 529 and not used for qualified expenses, the gain is taxable at the owner's ordinary income tax rate AND there is a 10% federal penalty. Exceptions would come if there is a scholarship. Then the amount of the scholarship is able to be removed without the penalty, but ordinary income tax would apply.
There are other considerations and limits, but in general, the 529 can be an important planning tool to help pay for college!
To learn more, please join us on
Saturday, April 11th
9:30 a.m.
in the Father McGivney Room to learn more!
Do you know everything you need to know to prepare your will or living trust?
This estate planning seminar provides valuable information on federal estate taxes, how the probate process works in Virginia. Mary will explain different estate planning tools such as Living Trusts, Wills, Powers of Attorney and Health Care Powers of Attorney. You will learn to protect yourself and your family in the event of incapacity and or death.
Monday, April 20th
7:00 p.m.
in the Father McGivney Room