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tax: Deal or No Deal? - 09/04/08 05:24 PM
When the real estate market was better, sellers usually planned on walking away from the sale with a nice profit that they could bank, spend, or more likely, put down on their next home. There have always been expenses connected with selling a home, but in these days when home prices are down, times on the market are up, and buyers are more prone to drive a hard bargain, sellers are much more attuned to what those costs are.
Though some buyers want a "fixer-upper", all buyers at least want to know what they're getting into. You, as a seller, don't … (0 comments)
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tax: New Tax Credit for First Time Home Buyers - 08/27/08 04:37 PM
Last week, the President signed historic legislation to spur growth in the housing sector. An important part of legislation is a tax credit for first time home buyers. Under the new law, beginning April 9, 2008 (yes this is retroactive!), first time home buyers to get up to a $7,500 tax credit from the purchase of a single family home, townhome, or condo.
A first time home buyer is anyone who has not owned a home during the past three years and is a U.S. citizen who files taxes. (Some homeowners that do not file taxes may qualify. You can find … (7 comments)
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tax: Short Sales - 08/07/08 05:52 PM
What is and is not a Short Sale?
A short sale is an arrangement between a homeowner and their lending institution to accept an offer on the home for less than the total amount owed on the property.
A bank-owned house, or foreclosure, is not a short sale. A seller deciding to lower their price and take less profit is not a short sale. To have a short sale, one of the parties has to be "shorted"; either the seller or the bank.
To further explain the difference; with a typical foreclosure situation, homeowners fall behind in their payments and the … (2 comments)
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Team Jodi - Chapel Hill Real Estate, Durham Real Estate
Chapel Hill,
NC
More about me…
Jodi Bakst, Broker @ Chapel Hill Realty
Address: 6011 Farrington Road, Ste 102, Chapel Hill, NC, 27517
Cell Phone: (919) 697-5014
Email Me
If you are buying or selling in Chapel Hill, Carrboro, Durham, Hillsborough, Durham or Orange, Durham or Chatham Counties, you have come to the right place. Jodi Bakst and her Team of Real estate specialists provide seamless customer service for our buyer and seller clients throughout their relocation or move.
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