Buyers, it’s time to make a move if you’re thinking about the opportunity to buy a home and take advantage of the tax credit being offered by the government. Tax credits are for first-time homebuyers or repeat buyers - email or call me for the details! - Tina
MSN has named Wake Forest one of the top-10 fastest growing cities, citing proximity to Raleigh and Durham, excellent quality of life including great schools, proximity to wonderful health-care, ethnic diversity, and large number of children!
http://realestate.msn.com/slideshow.aspx?cp-documentid=23390534&ocid=twmsnre#7
There’s been alot of confusion about under what conditions repeat buyers qualify for the $6,500 Tax Credit. For a buyer to be eligible for the $6,500 “repeat buyer tax credit”, it is not necessary that they are selling a house and does not matter that the house they might sell now, in order to buy, is not the house that they lived in for 5 continuous years out of the past 8 years! Regardless of whether the buyer is currently renting, going to keep their current residence as an investment/rental property OR even if they have recently purchased the house they need to sell, but previously owned another principal residence continuously for 5 of the past 8 years, they qualify for the credit.
I know this is a bit confusing, please call me with your questions - Tina
The Triangle Area Residential Real Estate Report reports the average sales price for all Wake County sales for the 4th quarter 2009 was $248,212 compared to $275,500 for 4th quarter 2008, a 9.9% decrease. For the same time period, sales of detached houses were up 22%, and sales of townhomes were up 31%, indicating that buyers are taking advantage of great prices, great interest rates and the tax credits being offered by the government.
This continues to be a fantastic time to buy, call or email me with your questions, or if you’d like to get the process started! _ Tina
Congress has extended the home buyer tax credit for home buyers purchasing a property between November 7, 2009 and April 30, 2010. This includes not only first-time buyers, but also current home owners purchasing a home who have used the home being sold as a primary residence for five consecutive years within the last eight years.
The maximum allowable credit for first-time homebuyers is $8,000, the maximum allowable credit for current homeowners is $6,500.
With continued low interest rates and prices down, this is a great time to buy! Call me for more details! - Tina
The AP reported today that home sales rose 9.4% in September, the largest increase in 2 years. With interest rates below 5% again and home prices down, this is a fantastic time to buy. Call or email for more information - Tina
The Triangle housing market is continuing to improve, with sales for August 2009 only slightly below sales from August 2008. Showings increased 13% in August, the 3rd straight month of increases in showings. This is a great time to make a move - call me with questions - Tina
The $8,000 first-time homebuyer’s tax credit will expire on November 30th. This is not a reduction in taxable income, it is an actual $8,000 check that the government will mail you after closing on your home. Remember, to qualify as a first-time homebuyer, you must not have owned a home in the past 3 years. Please call me or email for more information while there’s still time! - Tina
Sales of newly constructed homes increased 11% in June, a far greater increase than was anticipated by economists. Although the number of new houses sold was still 28% less than new home sales in June last year, the 11% increase is evidence that consumer confidence is slowly returning and the market has probably reached bottom. This is a great time to buy in the Raleigh/Wake County market - there’s lots of inventory to choose from - Tina
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