Make Your Offer Fly: The general rule is that the deposit should be at least 3-5 percent of the offering price. Remember, the larger your earnest deposit the better your chances of having the offer accepted.

The typical homebuyer searches for a home for about eight weeks and looks at 10 houses. If you have looked at more homes or for much longer, sit down with your REALTOR® and redefine your needs.

Be Cautious: Do not max yourself out financially. Today's easy lending standards often mean you can qualify for a home that is more expensive than your financial comfort zone. Discuss your personal needs and lifestyle in depth with your REALTOR®. It can help keep your home purchase price in line with your financial comfort level.

Remember, the stock market affects the housing market. If the stock market is stable, housing prices remain stable. If the stock market is declining, housing prices drop. Most people tie up their assets, which we call wealth, in one of two main places: homes or investments. If investment returns are high, people generally buy larger homes and spend more on their housing needs. However, when investment returns drop, most people are less willing to spend the high dollar for homes and are out looking for housing bargains. Be sure where you want to put your money before you do it! 

Some Advice: If your new mortgage reads "payment must be------or more," you have the right to and are free to make extra principal payments every month. This is a wise investment. Even $25 extra a month pays your loan off sooner and saves on interest payments.

Consider paying your mortgage every two weeks. To do this, divide your monthly mortage payment by two and pay that amount every two weeks. This equates to making 13 monthly payments every year and with a 30-year mortgage can lead to a mortgage pay off seven or eight years earlier! Always check with your mortgage lender for permission to do this and to get exact payoff information.

Your REALTOR® Can Help

Always check with your REALTOR® when in doubt about purchase and financing. In this age of heavy telemarketing and abundant TV commercials, you want to deal with a lender you can trust. Your REALTOR® can recommend reputable mortgage representatives who can help find the best rates and mortgage programs for you. Call Today!

Tax Facts
Sales Tax: 6%

State Income Tax:
West Virginia Income Tax based on Federal adjusted gross income minus $2,000 per exemption:

• Less than $5,000 - 3% of taxable income
• $10,000 to $25,000 - $300 plus 4% of excess over $10,000
• $25,000 to $40,000 - $900 plus 4.5% of excess over $25,000
• $40,000 to $60,000 - $1,575 plus 6% of excess over $40,000
• $60,000 to over - $2,775 plus 6.5% of excess over $60,000

Taxpayers 65 or older or certified permanently and totally disabled may modify their adjusted gross by up to $8,000. Taxpayers receiving WV Teachers retirement, WV Public Employees retirement, and Military retirement, or federal retirees who receive benefits from federal retirement systems maybe eligible for a $2,000 modification to their adjusted gross income.

Property Tax:
Taxes of real estate vary slightly from county to county with variations within incorporated towns. A good rule of thumb is $750 to $800 per $100,000 for owner-occupied, non-business properties. Personal property such as vehicles is taxed at a rate of approximately $150 to $160 per $10,000. Ask your agent for tax rate chart for more specific calculations for each jurisdiction.

Weather

• Temperature Average: 53
• Low mean (January): 31
• High mean (July): 76
• Rainfall (inches): 39
• Snowfall (inches): 26

Population

• Jefferson County - 40,077
• Berkeley County - 69,072
• Morgan County - 13,477

Distances (in miles)

	Charles Town	Martinsburg	Berkeley Springs
Washington, D.C.	58 mi	79 mi	107 mi
Winchester, VA	20 mi	22 mi	36 mi
Richmond, VA	168 mi	170 mi	179 mi
Baltimore, MD	67 mi	85 mi	100 mi
Hagerstown, MD	25 mi	18 mi	25 mi
Philadelphia, PA	180 mi	190 mi	165 mi
New York, NY	265 mi	264 mi	255 mi