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
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
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
One of the very popular loans right now is the USDA (United States Department of Agriculture) loan. This loan is available for properties that are in areas that meet the definition of being rural, including some areas such as Fuquay Varina, Wendell, Knightdale, Youngsville and parts of Wake Forest. The earnings limit for a family of four is $86,100. You do not need to be a first-time homebuyer to qualify, but can’t own another home at the time of closing. For more information, please call or email- Tina
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