New legislation, click here for details, extends the $8,000 tax credit to the end of April 2010 and includes the following changes:
*Sales contract deadline is April 30th 2010 and the transaction completed by June 30, 2010.
* Income limits have been increased from $75,000 for single people and $150,000 for couples, to $125,000 and $225,000 respectively.
* Buyers who have lived in their current home for the last 5 years would be eligible for up to a $6500 tax credit (or 10% of the purchase price).
* The maximum allowed home purchase price would be capped at $800,000.
* Military personnel, deployed overseas for a minimum of 90-days in 2008 or 2009, would have until April 30, 2011 to claim the tax credit.
* To combat fraud, a HUD-1 Settlement Statement will have to be attached to the tax return to secure the credit.
You may be thinking: I’m not buying…. so, why should I care?
The revision and expansion is good for first-time buyers and all homeowners.
As first timers move into the market it takes pressure off the resale inventory. To the extent that existing homeowners who want to move up probably have to sell their existing home, this new credit can have a dramatic impact as in some areas up to 40% of all home sales have involved first time buyers.
Foreclosures are impacting the value of your home even if you can't see it happening. First-Timers generally buy at the low end of the market and will absorb these abandoned homes. Those who are currently homeowners and want a new home stimulate the economy before during and right after a move and the $6500 credit again will have an impact.
Studies have shown that first-time buyers have a significant impact on the local economy and contribute in other socially positive ways.
A thriving resale market helps maintain home prices as they recover from the recent downfall. If the new tax credit works as well, it could aid the sales of hundreds of thousands of additional homes, sopping up more of the excess inventory. And that's exactly what you want to happen: Home values will not stabilize and increase until the inventory of homes for sale is diminished.
Feel free to contact us for information on current market conditions and home values in the Pinehurst, NC area.
Thank you for your interest and the privilege of serving you!
With our highest regard,
Wayne and Lynda Gomillion Trusted Names in Real Estate
"The friendship and referrals of those we serve is the foundation of our success."
In September 2008, Brookfield announced it was buying GMAC's home-services unit and picking up about 1,500 offices in North America and nearly 30,000 employees.
Brookfield said in a statement it is rebranding its GMAC Real Estate division, which it's acquired from the trouble financing arm of General Motors last year, as Real Living to create a new franchise with more than US$20-billion in annual home sales.
Brookfield Residential Property Services says it will add Real Living's 2,000 brokers and sales associates to its existing real estate network of 30,000 real estate professionals.
Real Living says it will not change its core real estate business in and around Columbus, Ohio, it has essentially sold Brookfield the right to use its brand and technology across the rest of the U.S. as well as Canada.
In Canada, Brookfield controls real estate giant Royal LePage and the company has thus far made no mention of altering that brand to make it more like Real Living.
In spite of the fact that real estate is a localized business and GMAC created and branded a client centric philosophy, Premier Service and Quality Service Certification, which we strongly embraced, many GMAC Real Estate franchise holders, across our nation will be happy to distance them selves from the General Motors name affiliation.
With our highest regard,
Wayne and Lynda Gomillion Trusted Names in Real Estate
"The friendship and referrals of those we serve is the foundation of our success."
A survey of more than 2,000 businesspeople from more than four countries revealed that the top five essential traits of a master networker include…
1.) Follow-up. The number one trait of all master networkers is they follow up on the referrals they receive.
2.) Positive Attitude. Positive business professionals are like magnets… Others want to be around them and will refer their friends and family to them.
3.) Enthusiasm and motivation. The best sales characteristic is enthusiasm. Once you’ve gained the respect of your fellow networkers your contacts will sell you to others.
4.) Trustworthiness. When you refer someone, you risk your credibility. It’s ludicrous to believe someone will refer a contact to a person who is not trustworthy.
5.) Good Listening Skills. Ultimately your success as a networker will depend on how well you communicate. The faster you and your networking partner learn what you need to know about each other, the faster you’ll establish a valuable relationship.
Fine-tuning your follow-up strategy will greatly enhance your mastery of this important aspect of networking. For more information on increasing your business through a structured, positive, and professional "word-of-mouth" program that can enable you to develop long-term, meaningful relationships with quality business professionals, go to www.bni.com and seek out a chapter near you.
First-time home buyers have been eligable for tax credits of up to $8,000 since January 2009, as part of the economic stimulus package enacted earlier this year. And as you may know, the current program is scheduled to expire at the end of November 2009.
We're pleased to report the House voted 403-12 Thursday to extend and expand the tax credit to include many buyers who already own homes.
The Senate approved the measure Wednesday, and the White House said the current President would sign it Friday.
Buyers who have owned their current homes at least five years would be eligible for tax credits of up to $6,500. First-time home buyers - or anyone who hasn't owned a home in the last three years - would still get up to $8,000. To qualify, buyers in both groups have to sign a purchase agreement by April 30, 2010, and close by June 30.
The credit is available for the purchase of principal homes costing $800,000 or less, meaning vacation homes are ineligible. The credit would be phased out for individuals with annual incomes above $125,000 and for joint filers with incomes above $225,000.
For members of the military serving outside the United States for at least 90-days, the credit would be extended additional 12-months, until June 30, 2011.
Though the sense of urgency may have dimenshed, for the time being, just know that we remain ready, willing and able to help you find your way home.
Click through the New Home Search banner bellow to access the Pinehurst MLS Power Search to discover all available listings matching your particular wants and needs.
Thank you for your interest and the privilege of serving you!
With our highest regard,
Wayne and Lynda Gomillion Trusted Names in Real Estate
"The friendship and referrals of those we serve is the foundation of our success."
The Pinehurst Southern Pines Area Association of REALTORS is pleased to sponsor Military Appreciation Day as a toke of our gratitude for the service and sacrifice of our military friends and family. The event will be held at Sandhills Bowling Center, 2239 Pinehurst Plaza, Aberdeen, NC 28315.
The fun filled event will be 1:00 PM to 4:00 PM on Saturday, November 7, 2009. Activities include Free Bowling, Food, Clown, Face Painting, Balloons and More! Online Reservation and Military ID required. For additional information please call: (910) 692-8988.
Please contact us to learn about our special cash incentives for military families on the purchase or sale of a home.
Thank you for your interest and the privilege of serving you!
With our highest regard,
Wayne and Lynda Gomillion Trusted Names in Real Estate
"The friendship and referrals of those we serve is the foundation of our success."
North Carolina continues to be ranked No. 1 in Site Selection's annual business climate rankings, eight times in the past nine years. It may be due in part to the states infrastructure of higher learning.
Site Selection magazine has ranked North Carolina No. 1 in the country for its business climate followed by Texas, Virginia, Ohio and Tennessee. The magazine cites new high-tech development and North Carolina's technology-focused academic centers as strengths for business growth. Click here or the magazine cover to read the article.
Moore County North Carolina is a great place to work and live. Offering a rural, low key-key life style but with a level of sophistication and opportunities virtually unavailable anywhere else.
Our primary advantages include a highly desirable location, temperate climate, excellent education system and exceptional healthcare all create the right mix for corporate and private citizens alike.
The unsurpassed quality of life is clearly our greatest asset. Whether it's Pinehurst, Southern Pines, Aberdeen, Carthage or Robins, each town and village offers a unique setting.
Moore County is know as "The Home of American Golf" with Pinehurst hosting the 1999, 2005 and the 2014 US Men's Open and with the 40 plus other premier golf courses throughout the county its no wonder that thousand come to play each year.
The area is also a nationally recognized center for equestrian activities. The Pinehurst Harness Track and nearby Carolina Hors Park at Five Points are among the training and competition facilities enjoyed by riders and spectators alike.
Cultural and recreational amenities easily rivaling those available in metropolitan areas area plentiful. Moore County may be the perfect setting for your business... with the availability of State and local incentives and a skilled and educated workforce that is readily available.
Moore County Partners in Progress is the local economic development organization that offers support and resources to assist you in starting or relocating your business to Moore County, North Carolina.
The local infrastructure includes buildings ranging from flexible offices to 300,000 square-foot industrial facilities, as well as state certified industrial sites, ranging in size from .5 acres to over 1,100 acres. Rail is readily accessible and major highway expansions are in progress.
Moore County offers... 7th lowest NC Property Tax Rate; Low crime (33% lower then the NC state average); State-Designated Economic Development Zone in Southern Pines, Easy access to Research Triangle Park, Raleigh, Durham and the Triad.
Situated on the outskirts of Vass, Woodlake is a resort and golf community the covers over 3,000 acres. The Woodlake Country Club has two golf courses, one designed by Dan Maples and the other by Arnold Palmer. The historic clubhouse overlooks the 1,130 acre lake, the largest private man-made lake in North Carolina, offering fine dining with impressive views. The impeccably maintained grounds make Woodlake pleasing to the visitor and resident alike.
Housing Market Update
October 01, 2009 through to October 31, 2009 there were 03 Single Family Homes Sold. Average Sales Price $190,666 Average Days on Market (DOM) 189. During the same time frame there were 01 New Listings entering the market with the Average Asking Price $370,000.
View a full and printable version of the Housing Market Update at our website and please contact us with your questions, comments and referrals.
Centered on Thagard's Lake, Whispering Pines is a private residential golf course development, which in 1969 became the first municipality in the state to be officially designated as a village. The quiet charm, golf, lake activities and country club lifestyle of Whispering Pines has much to offer both young families and active retirees.
Offering eight lakes, three championship golf courses in a tranquil Village setting, Whispering Pines offers close proximity to the towns of Southern Pines and Pinehurst, within a ten minutes drive, offering excellent restaurants, modern shopping plazas, and small quaint specialty shops. Nearby Sandhills Community College offers a wide variety of lectures, concerts and exhibits, including one of the most popular horticultural gardens in the state. Please contact us for more information about Whispering Pines North Carolina.
Housing Market Update
October 01, 2009 through to October 31, 2009 there were 06 Single Family Homes Sold. Average Sales Price $186,333. Average Days on Market (DOM) 133. During the same time frame there were 12 New Listings entering the market with the Average Asking Price $286,183.
View a full and printable version of the Housing Market Update at our website and please contact us with your questions, comments and referrals.
October 01, 2009 through to October 31, 2009 there were 02 Single Family Homes Sold. Average Sales Price $80,900 Average Days on Market (DOM) 143. During the same time frame there were 05 New Listings entering the market with the Average Asking Price $356,380.
View a full and printable version of the Housing Market Update at our website and please contact us with your questions, comments and referrals.
Southern Pines, North Carolina is a jewel of the South and widely known for its flourishing equestrian community as well as the relaxing rhythm and eclectic mix of quaint to sophisticated shopping and dining experiences. Southern Pines offers something for everyone with personal residences ranging from upscale family sized homes in quiet and gracious neighborhoods to somewhat smaller scaled homes, suitable for empty nesters, active retirees and first time home buyers. As you leave the tree lined streets of the business community you'll discover the area locals refer to as "horse country" and there you find a collection of over 400 horse farms of various sizes, in one of the major equestrian centers in the eastern United States. Whether youre interested in golfing communities, equestrian properties or an active retiree venue, Southern Pines, North Carolina is definitely worth your time.
Housing Market Update
October 01, 2009 through to October 31, 2009 there were 18 Single Family Homes Sold. Average Sales Price $210,308. Average Days on Market (DOM) 131. During the same time frame there were 53 New Listings entering the market with the Average Asking Price $377,306.
View a full and printable version of the Housing Market Update at our website and please contact us with your questions, comments and referrals.
We’re NC real estate brokers and members of “The” Pinehurst Home Team. For nearly two decades we have served the needs of buyers and sellers of single and multifamily properties and offer a friendly, consultative approach to client’s real estate and relocation endeavors. Whether visiting or considering relocation, we encourage you to visit our websites and contact us for more information about the greater Pinehurst North Carolina area and the unparalleled quality of life the area offers.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
The Pinehurst Southern Pines Area Association of REALTORS is pleased to sponsor Military Appreciation Day as a toke of our gratitude for the service and sacrifice of our military friends and family. The event will be held at Sandhills Bowling Cente
r, 2239 Pinehurst Plaza, Aberdeen, NC 28315.
s easily rivaling those available in metropolitan areas area plentiful. Moore County may be the perfect setting for your business... with the availability of State and local incentives and a skilled and educated workforce that is readily available.
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