• psst … I’m a Realtor! Thanks for stopping by my website. I would love to help you find your dream home and community in the Hampton Roads or Williamsburg area or to sell your existing home. This website is authored by local resident and REALTOR, John Womeldorf. John is known around town as Mr. Williamsburg, for both his extensive knowledge of Hampton Roads and the historic triangle, and his expertise in the local real estate market. His websites, WilliamsburgsRealEstate.com and Mr Williamsburg.com were created as a resource for folks who are exploring a move to Williamsburg, VA , Hampton Roads VA and the surrounding areas of the Virginia Peninsula. On his website you can search homes for sale , foreclosures, 55+ active adult communities, condos and town homes , land and commercial property for sale in Williamsburg, Yorktown, New Kent, Poquoson, and Gloucester, VA as well as surrounding markets of Carrolton, Chesapeake,Gloucester, Hampton, Isle of Wight, Portsmouth Mathews, Newport News Norfolk, Poquoson, Smithfield, , Suffolk, Surry, Va Beach, Yorktown and York County Virginia You can reach John by email John@MrWilliamsburg.com or phone @ 757-254-813

IRS To Give Tax Break To Chinese Drywall Homeowners

In the first large-scale effort by the federal government to provide financial relief to owners of properties with toxic drywall, the Internal Revenue Service has announced it would allow homeowners with problem drywall to treat the damages incurred as a casualty loss for tax purposes.

To receive the tax break, homeowners must have started the process of repairing their home with their own money, have spent at least $500, and the amounts paid for repairs must exceed 10 percent of the taxpayer’s adjusted gross income. The cost of replacing appliances ruined by corrosive drywall also counts for the tax break.

The IRS says it will give tax breaks to homeowners who suffered property losses due to bad Chinese drywall installed in their homes between 2001 and 2009. The IRS says repairs to homes and household appliances can be treated as casualty losses. People can file amended tax returns to claim the deduction.

Chinese drywall was installed in thousands of homes across the nation, including in Florida, Mississippi and Virginia. It has caused problems ranging from a foul odor to corrosion of pipes and wiring.

Read more about Chinese Drywall issues in Hampton Roads and Williamsburg VA here

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