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March 3, 2006     Cape Gazette
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30 - CAPE GAZETTE - Friday, March 3 - Monday, March 6, 2006 13tlSIN00,SS & REAL ESTATE00I FisherHawke Landing sets record sales in Milford By Rachel Swick Cape Gazette staff FisherHawke Landing, a luxury condo- minium community designed for the Milford Riverwalk, recorded some of the quickest sales ever seen in Sussex County. The developers of FisherHawke released 24 units to the public during an all-day event Feb. 18. By 5:30 p.m., all 24 units were sold: Randy Burton, a principle for the devel- opment group, said he had never seen such an interest before. "I didn't anticipate they would all be gone in one day," said Burton. "I couldn't have asked for anything better." At build-out, FisherHawke will feature six buildings with 24 condominiums in each - 120 units total - stretching along the river, with access to local shops and restau- rants. Each building will have three condo- minium designs, ranging in price from $279,000 to $309,000, featuring sunrooms, foyers and large master bedrooms. The three different models feature granite counters, upgraded cabinets, wood flooring and Moen faucets in the kitchen, gas fire- places in the living rooms and designer car- pet in the bedrooms. The master suite fea- tures a garden tub with separate shower and large walk-in closets. A semiprivate eleva- tor will serve the units. Burton said the buyers varied throughout the day. The morning of Feb. 18, those who preregistered were invited to the earliest session from 10 a.m. to 1:30 p.m. to look at the units, while the general public was not invited until 1:30 p.m. That night, Burton said, the developers held a reception for about 150 people including politicians and local officials. He said many buyers were looking at the condominiums for retirement, but others were from Milford just looking for a step up. Some buyers were relocated to the area for General Motors. "Milford is a good location," said Burton. "This geographic location is close to the water with luxury condos in a downtown environment that is close to northern cities and the southern beaches." For more information, visit www.FisherHawkeLanding.com. Steven Billups photo Listing agent Joe Choma, left, of Prudential Gallo of Rehoboth Beach, talks with potential buyer Philip Steinhice of Milford at the Milford Museum, Feb. 18, during the grand opening of FisherHawke Landing. By midafternoon, 20 of the 24 units in the first building were already sold. With all of the talk of the need for afford- abl e housing in Sussex County, it is impor- tant to know of one organization with years of actually doing it. Preston "Pret" Dyer, in partnership with Gary McCrea, has been developing, building and maintaining affordable rental apartment units through- out Sussex County for more than a decade. The team has developed more than 400 apartment units providing affordable hous- ing for qualified residents in Sussex County. After years of developing resort area communities Dyer, along with Captain's I Way partner Scott Dailey, have formulated a program designed to provide Value Housing while maintaining regulatory stan- dards for community design and quality construction. Captain's Way is a 494-home community "proposed to be developed on Route 16, east of Ellendale. "Since our beginning in real estate devel- opment we've had a heart-felt concern for people who work here, but discover it is very difficult to find value housing nearby. With the resort area growing west across Sussex County, value housing for purchase has truly become a countywide need," said Dyer. When Sussex County Council began to look at ways to stimulate value housing in the county, Dyer and Dailey decided it was time to once again turn talk and concern into reality. "The value housing plan we've devel- oped is ninety percent logic, and ten percent innovation," said Dailey. "At Captain's Way we're presenting a solution to the moderately priced housing dilemma that is a winning situation for home buyers, regu- latory agencies, and Sussex County in gen- eral. We've considered and incorporated every aspect of Sussex County community development into our plan, and are anxious to see if Sussex County will consider reduc- ing the existing single-family lot size down to fronts of 50 feet and depths of 120 feet," Dailey said. The following are highlights of the pro- posed Value Housing Plan: The program will deliver a selection of homes from 1,100 square feet to 1,400 square feet, will be of stick built or modular construction, and have a carport or garage. Continued on page 32 Do you hltve the right ' documents for your taxes? Tax Season is here. Are you ready? Before you can do your taxes, you have to have all of your tax documents. Let's do a review of the documents and make sure you have them all. From your employer, you should have received by now a W- 2. The W-2 is a statement show- ing the amount of wages you have earned with the amount of taxes you have had withheld and paid by your employer. Employers were required to give or mail to you by Jan. 31, 2006. If you haven't received it yet, contact your employer. For every job you had, you should have received a W-2. If you worked as a subcontractor, you should have received a 1099- MISC. The 1099-MISC is a state- ment showing comPensation you received from a company work you did for them. FINANCE Mike Duckworth If you are fortunate enough to have money invested, there are several types of documents you should have received. If you have a savings or money market account, or savings bonds account, your financial institution would have sent you a 1099-INT. The 1099-INT reports the amount and type of interest you earned for the year. Most financial institu- tions will not send you a 1099- tNT if you earned less than $10. If you are invested in stocks, you will be getting a 1099-DIV reporting the amount of dividends you earned, either sent to you or reinvested. If you sold stocks, you should have received a 1099-B. The 1099-B reports the proceeds you received from the stock sale. The 1099-B takes special handling; if you are unfamiliar with it, consult your tax professional. The state you filed your 2004 return with will send you a 1099- G if you received a refund. This is important if you itemized deduc- tions in 2004; it has to be treated as income. For those folks who are retired or took money out of their 401K, you should have received a 1099R. The 1099-R reports the amount of pension or IRA income you received, along with any taxes you had withheld. Some of us have interests in an S-corporation or partnership. If so, you will be receiving a K-1. The K-1 is a complicated docu- ment. It reports several types of incomes or losses. Again, if you are unfamiliar with K-1 s, consult a tax professional. If you were between jobs in 2005 and spent some time on unemployment, the state that paid the benefit will also send you a 1099-G. Unemployment benefits are taxable income, the 1099-G will report how much you received. Hopefully, you asked them to withhold taxes and the 1099-G will also report taxes withheld. Lets get back to those retired folks. If you are drawing Social Security or on the railroad pen- sion, you should have received a 1099 for those benefits. For Social Security you would have received a SSA-1099, or a RRB-1099 for railroad pension. Along with reporting the amount of benefits you received, it could also include amounts withheld for health insurance, which is a deduction I hope this information is help- ful in getting prepared to do your taxes. If you do them yourself or go" to a professional, its important to be aware of what documents you should have before you start. Editor's note: Mike Duckworth is an accountant specializing in taxes. He is also a Quickbooks proadvisor. For more informa- tion, call 226-4775. Housing dew,loper intro{tuces Value Housing at Captain's Way