First things First! Thank you for keeping us all safe.
Yes that's true the $8000 tax credit is still available for some buyers. Who? -- Returning military! Yes our soldiers returning from duty outside the USA can still receive the $8000 tax credit. Since our soldiers were away serving our needs abroad and unable to take advantage the credit they received an extension until 2011.
Like all tax credits there are still guidelines & deadlines. The Buyer or Seller must be have a home under contract by April 30th 2011 AND must close by June 30th 2011. There is a section of the Home Builder Association Tax Credit Site that explains the terms of the extension.
If you pair this tax credit with the incentives offered with the VA loan program --you can get a really sweet deal on a new home or sell & take advantage of the $6500 upgrade tax credit.
The VA backed loans offer a
100% financing (no down payment)
Great Rates
Seller must contribute to certain loan related expenses
Termite Inspection required.
Most homes qualify
Property will be inspected by a VA Certified Appraiser.
Buyer must have Certificate of Eligibility.
Many returning or disabled military qualify to have certain loan related fees waived.*
You must have a Certificate of Eligibility. If you need to apply or if you are wondering if you qualify check out eligibility. (You do not need to use VA financing to receive the tax credit )
* ask you lender how this applies to your situation.
If you need help buying or selling feel free to give me a call.
Interested in taking advantage of the $8000 Tax credit and have questions on how it works? This is a video produced and distributed from the IRS...
For more information and to take advantage of the $8000 Tax Credit in the Triangle NC market give us a call today at 919-387-4100 or email us for more information. The deadline for closing on your new home is November 30th 2009. You will need to have a home under contract in the next couple weeks at the latest if you are going to qualify for credit so act now.
With the all the hype for the end of the $8,000 tax credit I am always addressed with questions that seem to have an easy answer but apparently the message may not be getting across clearly. This is a great video I came across today that I thought explained it in that elementary school style we all seem to love. Complete with a happy ever after story and stick people:) Oh, don't forget about the garbage bags full of money either!
For more information on the tax credit or purchasing a home please contact Real Living Realty Experts at 919-387-4100 or send me and email. We are happy to help.
Update from the Agent that attempted Career Suicide for a First Time Buyer
Thank you again for the tremendous response to my Agent Attempt Career Suicide for 1st Time Home Buyer-- ( aka My husband) I know is has been a long time the closing happened back in July! Moving and Getting settled took longer than expected. I will post some pictures once the house is more presentable to the web-world.
Buying a first home as a newlywed -- is not as easy as you would think. There have been many ups &downs and I continue to learn every stepof the way. Most importantly, I realize why ever buyer gets a little buyer's remorse-- It is just impossible to notice everything at a showing. There are hidden living expense that you try to plan for but still more turn up. ( eating out while moving, TP, Turning on/off stuff, paint etc) My mom has always considered a home a never ending masterpiece and I am beginning to understand why?!- The more I am in my new home I learn or notice something new.
Can You Really Notice Everything?
22 Things I Learned About Our House & Neighborhood AFTER MOVING IN!!!
All the ceiling fans are dirty. ( its kinda gross when you realize its not MY dirt)
The closets & rooms are bigger than I remember.
Oh Yeah there is attic storage too
Thank GOODNESS I painted before moving in!
I have rabbits in my backyard-maybe deer? critters? & Definitely Mosquitoes that bite
The grass grows really fast. I hope that is a good sign for my veggie garden
Cats do not like moving - but are slowly adjusting
The neighbor around the corner has major fencing w/ moving gates.
Coffee tastes better when its made with well water in MY HOME.
Bright & Sunny is great except when you are sleeping
The hot water & water pressure in the master shower is great
The master bath drain makes a loud gurgle noise.
The A/C is much more quiet & colder than the apartment.
It gets much darker in Willow Springs than North Raleigh ( street lights seem optional)
There are 6 neighbors with Horses or Cows on my drive to work
My drive took only 10 minutes (not 25) Yippee
There are NO fast food chains close by. I want a chicken biscuit!!!
The family next door has a Chow Mix - I don't know if it friendly yet.
There is a Corn Maze & vegetable stand close by. I need a BBQ Grill.
Gas is more expense out in the country.
My street has pot holes or maybe they should be called CRATERS.
Sheri Moritz | Real Living Realty Experts LLC | 919-520-7205
105 Woodgate Dr., Raleigh, NC
Renovated & Updated ranch w/geat fenced in back yard!
4BR/2BA Single Family House
offered at $110,000
Year Built
1971
Sq Footage
1,476
Bedrooms
4
Bathrooms
2 full, 0 partial
Floors
1
Parking
3 Uncovered spaces
Lot Size
.25 acres
HOA/Maint
$0 per month
DESCRIPTION
Updated & Renovated Ranch w/new kitchen cabinets, counters, light fixtures & ceiling fans, tile surround showers, refinished hardwoods. New detailed hardwoods designed in DR w/bay window w/arched doorway. Large Den Great & New Deck. Back yard- totally fenced w/tons of room to play. Rocking chair front porch. ALL closing costs paid w/full price offer
Relaxing between visitors at yesterdays open house I read July/August 2009 Issue of Realtor Magazine (specifically page 15 or if you missed it )
I have read other articles on active rain and other blog sites with agents defending the "administrative fee" or similar. I have also seen Broker/Owner & Firms require there agents charge an administrative fee or transaction fee. I do not charge a marketing, admin or mystery fee and my BIC does not recommend one
A U.S District Court (North District of Alabama) ruled on a class action suit againsta brokerage that charged a flat $149.00 fee in addition to commission. The official case name is Busby v. JRHBW Realty Inc (doing business as RealtySouth)
The court ruled against the brokerage - according to Real Estate Settlement Act the fee must be a charged for "services actually performed". The fee was referred to as "unearned" since it was not for a specific service. Sounds like the Badgers "dust & rust fee" to me.
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For those who need to dust off their real estate text books,
The Real Estate Settlement Act passed in 1974 by Congress. It was created because various companies associated with the buying and selling of real estate, such as lenders, Realtors, construction companies and title insurance companies were often engaging in providing undisclosed Kickbacks to each other, inflating the costs of real estate transactions and obscuring price competition by facilitating bait-and-switch tactics. The Act prohibits kickbacks between lenders and third-party settlement service agents in the real estate settlement process (Section 8 of RESPA). Even reciprocal referrals among these types of professions could be construed in court as a violation of the law of RESPA. It requires lenders to provide a good faith estimate for all the approximate costs of a particular loan and finally a HUD-1 (for purchase real estate loans) or a HUD-1A (for refinances of real estate loans) at the closing of the real estate loan. The final HUD-1 or HUD-1A allows the borrower to know specifically the costs of the loan and to whom the fees are being allotted.
(Wikipedia.com)
The Firm in questions claimed, the money does have a purpose it helps reduce overhead and is not split with the agent. I am sorry business doesn't work that way. If this were a restaurant, would you pay a fee to reduce the owners overhead on top of the price for your bacon mushroom cheese burger? Or do you expect to pay the price on the menu. Give me a break!!! You would eat somewhere else. Educated clients would go somewhere else too. I wonder how, when or if they were explained the purpose of fee
NAR has asked that HUD further investigate this subject - The court ruled against the fee because it is believed to be a RESPA violation of Section 8(b). Although many believe the law is being interpreted incorrectly.
In today's economy everyone can use some help with personal or professional overhead. We all could just pass the buck on our bills- I would like to have someone pay my car payment please.It makes me crazy to think that agents have not learned yet that we are in an honesty business. We ask our clients to be honest with us-we should be honest with them.
As business owners, self employed professionals and Realtors, take personal responsibility for your own check book, determine your expenses as a business and charge accordingly. If your bills are still too high to find a better office, cut costs, do more YOURSELF and hire less people. Read the Shift Book.
Shady actions have gotten us into the market we are in - why continue the bad behavior?
Mary Cornazter has a great article about being FRUGAL in Sunday March 15, 2009 News & Observer. Yes, FRUGAL, that horrible word, which instantly makes you feel, deprived, but the couple she interviewed still manages to "have a life". Frugal is no longer described only you grandma. Frugal is being reborn into a positive trait & that frivolous charge it attitude may be dying a well deserved death.
Staying home for movie night or watching the game from home, can be tough when it is replacing that new martini bar or season box tickets. But it has become a must for many in the current economy. A new culture emerging is proud of the great buys at Costco, Sam's and Thrift Stores. The toughest part is patience - for so long it was acceptable to want it & have it. But the press, the mortgage market and the constant talk of bailout has proven that a frivolous attitude is a fast track to the poor house.
Luckily we live in NC - where museums are free, and there are tons of free or cheap things to do
Don't be shocked- buying a home could reduce your household budget! Consider It!!
Recently I helped a first time home buyer purchase a foreclosure. The home needed some work but the payment was right. He did not have to sacrifice his core needs; I was still able to find him a home built after 2000, with a large lot & over 1400 square feet. He was able to see past a filthy kitchen, nasty carpet & lack of refrigerator. After a good scrub, he knew he would have plenty of space to watch the game & his dogs would have a big back yard. His willingness to look past the cosmetics & more importantly to buy in an area that offers 100% USDA financing was a smart move. He reduced his housing expense by over $250 a month (Mortgage VS Rent)
The $8000 first time home buyers tax credit & falling home prices are giving buyers something to cheer about. Neighborhoods that were previously too expensive are now attainable. Sellers are now willing to pay some of the closing costs. Communities offering gyms, pools, and activities have created tremendous opportunities for buyers to save even more. This New Frugal Buyer is seeking in a price range they want even if they qualify for more - or they are basing their purchase price on ONE income. The New Frugal Buyer is smart and planning ahead. You can be frugal and still have what you want!!
There is opportunity to look past the panic -- Find a Realtor that will work with in YOUR budget.
Should I Stop Renting? Is it the right time to move? What's right for me?
Don't be scared of the unknown - learn more!!! Free Home Buyer Information!!
What Is A Buyer's Market? What Can It Do For Me? Interest rates are low which keeps your payments low- there are too many homes on the market so sellers are reducing prices to attract YOU the BUYER. You can buy with little money down. As your Buyers Agent I can negotiate the best price & reduce the closing costs to ensure you receive the best buy possible. If you own a home you can take advantage of this market by buying into a better neighborhood, or trade in your home for newer bigger home.
What can I afford to buy?Will I Like What I Can Afford? Let's Find Out!! There are many opportunities in all price ranges in the Triangle Area. A private consultation will allow me to determine what best fits your budget & life style. I am flexible- Days, Nights & Weekends
Why People Buy!
Stop Rent Increases & month 2 month fees
Stop Pet & Complex Deposits
Park in your own driveway or garage
Pride of Ownership ~ Make your own rule
No more Blah Paint, & Carpet you pick it out! It's Yours!
Send kids to better school - public or private options
Take advantage of "instate" universities or colleges
Expenses from your closing are tax deductible (Save Money)
Take advantage of First Time Buyer $8000 Tax Credit
Reduce Property Taxes from out of state, NC taxes are LOW
Need More or less Space or everything on one level
Live closer to work, family, friends or hobbies
Why Here?North Carolina is a great state with lots to offer. As the Capital City, Raleigh is a growing diverse community that is still very affordable. There are great homes to meet every situation & life style. Raleigh is continually rated one the best places to live nationally. Compared to other states, Wake & Johnson County both offer LOW property taxes. Come check out our great schools public or private from kindergarten through high school. As a resident take advantage of IN STATE TUITION at schools like Duke, University of North Carolina, NC State, Peace College or Meredith College ( to name a few)
