Congress has extended and expanded the homebuyer tax credit. The modifications in the column labeled "December 1 - April 30, 2010" become effective when President Obama signs the bill. All changes made to the current credit become effective on that date, as well.
First Time Buyer - Amount of Credit - $8000 ($4000 married filing separate)
Current Homeowner - Amount of Credit - $6500 ($3250 married filing separate)
First Time Home Buyer Definition for Eligibility - May not have had an interest in a principal residence for 3 years prior to purchase
Current Homeowner - Definition for Eligibility - Must have used the home sold or being sold as a principal residence consecutively for 5 of the previous 8 years Purchases after November 30, 2009. (Becomes April 30, 2010 on Date of Enactment.)
Binding Contract Rule - So long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close.
Income Limits (Note: Increased income limits are effective as of date of enactment of bill)- First Time Home Buyers: $75,000 - single, $150,000 - married, Additional $20,000 phase out Current Homeowners: $125,000 - single, $225,000 - married, Additional $20,000 phase out
Limitation on Cost of Purchased Home - First Time Home Buyers: None Current Home Owners: $800,000
For Property information that will assist you in obtaining this Tax Credit go to:
Chapel Hill School District Cost of Building Going UP!
There are a multitude of different permits and fees required to build any new home. Orange County and Chapel Hill have long had some of the highest fees in the Triangle.
And they're going up.
These fee increases were approved in December 2008, with new increases taking affect each January.
Building in the Chapel Hill or Carrboro City School Districts?
Before January 1, 2009, the Chapel Hill School District Impact Fees were $4407 per home. On January 1, 2009, these impact fees increased by 38%, or $1685 per home.
On January 1, 2010, the Chapel Hill School District Impact Fees will increase again, to $7616 per home, another 25% increase. These impact fees are in addition to the building permit fees, water fees, and sewer fees required to build a new home in Chapel Hill.
Looking to build in Chapel Hill soon? Apply for permits as soon as possible - as long as all permits are approved and paid before the end of the year, you can still build at 2009 costs.
Otherwise, your new home will cost $1524 more, after January 1st, 2010.
Orange County School District Changes
School district impact fees in Orange County have been $3,000 per single family home since 2001.
On January 1 2010, these fees will be increasing, with a yearly increase for each of three years.
Orange County Schools District impact fees will increase from $3000 to $3749, with even more significant increases in 2011 and 2012. This is an increase of 25% for new single family homes, and again, these fees are separate from all other building permits and fees.
Chapel Hill and Orange County continues to be one of the most sought after areas of the Triangle - and it's going to be a little more expensive to build a new home there now.
Finding the Right Location for Your New Home in the Triangle
Stanton Homes will help guide you through the lot and land selection process, so you know you've made all the right moves. We'll do the research for you, including a free lot inspection by one of our experts!
Copyright Stanton Homes 2009. Provided for informational purposes only, no claims are made by Stanton Homes regarding the validity of any claims. Buyer or buyers agent to verify all information before purchase.
Olde Carpenter is a luxury custom home community in northwestern Cary, NC off of Carpenter Upchurch Road near Highway 55.
There are 29 lots for sale in Olde Carpenter, but they're being sold fast in this new luxury homes community.
Homeowners in Olde Carpenter have access to the swimming pool, clubhouse, tennis courts, and other amenities within the Carpenter Village community.
Information on Sample Olde Carpenter Lots
325 Melvin Jackson Drive, 27519
MLS: 1687197
Size: 0.20 acres
Price: $135,000
615 April Bloom Lane, 27519
MLS: 1687349
Size: 0.21 acres
Price: $128,000
Olde Carpenter homes are on city water and sewer.
Contact us or call 919-278-8070 for more information.
Directions to Olde Carpenter
From Highway 55: Take Morrisville Carpenter Road east, and immediately right on Carpenter Upchurch Road. Turn left into Olde Carpenter community.
School Assignments for Olde Carpenter
Elementary: Carpenter
Middle: East Cary
High: Panther Creek
(School assignments are subject to change)
Olde Carpenter is conveniently located to RTP, I-540, and RDU airport. It is just minutes away from shopping at Cary Towne Center in Cary, Southpout in Durham, and Beaver Creek in Apex.
Cary is part of the Triangle Area of North Carolina, one of the fastest growing and best places to live in the country; it is ranked highly in quality of life, social climate, and business climate by national publications.
For more information on living in Cary, including local attractions, click here!
You can walk to the elementary school and Wake County Library through the tree-lined walking paths in Olde Carpenter community.
Building a new custom home in Olde Carpenter, or on any lot, doesn't have to be complicated or expensive, and there are thousands of plans and options available to make your new home exactly what you want.
To learn more about building a new custom home, find available lots around the Triangle, and hear about special area events, sign up for our monthly newsletter. It is full of tips and much more.
Finding the Right Location for Your New Home in the Triangle
Stanton Homes will help guide you through the lot and land selection process, so you know you've made all the right moves. We'll do the research for you, including a free lot inspection by one of our experts!
Copyright Stanton Homes 2009. Provided for informational purposes only, no claims are made by Stanton Homes regarding the validity of any claims. Buyer or buyers agent to verify all information before purchase.
The US House of Representatives overwhelming voted to extend the first time home buyers credit for an additional 12 months to anyone in the military who has served overseas for three months in 2009. In a vote of 416 to zero the bill now has to go the US Senate and the President for final approval.
This extension could give up to 350,000 military families currently deployed overseas unitl November 2010 to take advantage of the current tax credit. In addition the IRS "recapture" rules will be waived for any service member who is deployed and must sell or rent their home.
Known as theService Members Home Owners Tax Act this bill also contains the provision to waive the income tax liability currently in the expanded Department of Defense Homeowners Assistance Program.
The next step for this bill (HR 3590) is for the Senate Finance Committee to review the bill and hopefully move it to a vote in the full Senate.
This seems to be one time that the US Congress, Senate and President should be able to agree. Extending the tax credit for our military is the right thing to do no matter what your political beliefs.
Tatton Place is a custom home community in western Cary, NC off of Highway 55, just north of Highway 64.
There is one corner lot for sale in Tatton Place.
Tatton Place is in a great location, with Cary Family YMCA and several malls nearby, as well as White Oak Park walking distance away.
Information on Tatton Place Lot
Burgwin Wright Way, 27519
MLS: 1675172
Size: 0.23 acres
Price: $139,900
Cary Park homes are on city water and sewer.
Contact us or call 919-278-8070 for more information.
Directions to Tatton Place
From Highway 64: North on Highway 55, right on Old Jenks, then quick left on Holt. Left on Jenks Carpenter, then right into Tatton Place on Burgwin Wright Way. The lot on the right on the corner.
School Assignments for Tatton Place
Elementary: Salem
Middle: Salem
High: Apex
(School assignments are subject to change)
Tatton Place is conveniently located to RTP, I-540, and RDU airport. It is just minutes away from shopping at Cary Towne Center in Cary, Southpoint in Durham, and Beaver Creek in Apex.
Cary is part of the Triangle Area of North Carolina, one of the fastest growing and best places to live in the country; it is ranked highly in quality of life, social climate, and business climate by national publications.
For more information on living in Cary, including local attractions, click here!
Building a new custom home in Tatton Place, or on any lot, doesn't have to be complicated or expensive, and there are thousands of plans and options available to make your new home exactly what you want.
To learn more about building a new custom home, find available lots around the Triangle, and hear about special area events, sign up for our monthly newsletter. It is full of tips and much more.
Finding the Right Location for Your New Home in the Triangle
Stanton Homes will help guide you through the lot and land selection process, so you know you've made all the right moves. We'll do the research for you, including a free lot inspection by one of our experts!
Copyright Stanton Homes 2009. Provided for informational purposes only, no claims are made by Stanton Homes regarding the validity of any claims. Buyer or buyers agent to verify all information before purchase.
Was out driving with the kids last night, and my 5 year old looked out the window, very excited.
"Look, Mom, there's a wishing star!!"
My two year old says absolutely anything her brother says, and becomes equally excited. "Stars, stars!"
I heard my son whispering, and figured he was probably making a wish. This isn't something we've ever talked about, but he's very perceptive and has a great memory, so I'm sure he heard about wishing stars somewhere.
A minute goes by.
Then I hear a wail, filled with deep disappointment.
"Mom, why didn't it work?" he cried.
I couldn't help it - I don't normally laugh at the worldview of a child, but I did. Then I tried to explain that wishing stars are fun to think about, but only God can really answer our prayers - and he doesn't always answer right away, and doesn't always agree with us on what's best for us.
Then I asked - "What did you wish for?" What wish, not granted immediately, could have given him that sense of betrayal and taken away a tiny bit of the magic of being a child and BELIEVING? Was it something that I could provide for him?
"I wished I could turn into a cat."
Hmm.
Well, what would YOU have wished for, if YOU could wish for anything?
Cary Park is a custom homes community in northwest Cary, NC near Highway 55 and Carpenter Firestation Road.
There are four lots for sale with a lake view in Cary Park.
Cary Park is a large community with several amenities including a 28-acre lake, several biking and walking trails, a swim club with pools and water slide, a large playground, and more.
Information on Cary Park Lots
932 Alden Bridge Drive, 27519
MLS: 1683914
Size: 0.32 acres
Price: $165,000
930 Alden Bridge Drive, 27519
MLS: 1683931
Size: 0.29 acres
Price: $165,000
934 Alden Bridge Drive, 27519
MLS: 1683936
Size: 0.35 acres
Price: $165,000
942 Alden Bridge Drive, 27519
MLS: 1683951
Size: 0.25 acres
Price: $140,000
Cary Park homes are on city water and sewer.
Contact us or call 919-278-8070 for more information.
Directions to Cary Park
From Highway 55: Left (west) on Carpenter Firestation Road, Left on Green Level. Right on Cary Glen Boulevard in Cary Park community. Right on Greenfield Knoll, then right on Alden Bridge. Lots are on the right overlooking the lake.
School Assignments for Cary Park
Elementary: Mills Park
Middle: Salem
High: Panther Creek
(School assignments are subject to change)
Cary Park is conveniently located to RTP, I-540, and RDU airport. It is just minutes away from shopping at Cary Towne Center in Cary, Southpout in Durham, and Beaver Creek in Apex.
Cary is part of the Triangle Area of North Carolina, one of the fastest growing and best places to live in the country; it is ranked highly in quality of life, social climate, and business climate by national publications.
For more information on living in Cary, including local attractions, click here!
Building a new custom home in Cary Park, or on any lot, doesn't have to be complicated or expensive, and there are thousands of plans and options available to make your new home exactly what you want.
To learn more about building a new custom home, find available lots around the Triangle, and hear about special area events, sign up for our monthly newsletter. It is full of tips and much more.
Finding the Right Location for Your New Home in the Triangle
Stanton Homes will help guide you through the lot and land selection process, so you know you've made all the right moves. We'll do the research for you, including a free lot inspection by one of our experts!
Copyright Stanton Homes 2009. Provided for informational purposes only, no claims are made by Stanton Homes regarding the validity of any claims. Buyer or buyers agent to verify all information before purchase.
Renaissance at Regency is a luxury custom homes community in Cary, NC near the intersection of Kildaire Farms and Tryon Roads. There are six lots for sale in Renaissance at Regency.
Renaissance at Regency is a large cul-de-sac community, and homes in Renaissance at Regency start at $800,000.
Renaissance at Regency homes are on city water and sewer.
Contact us or call 919-278-8070 for more information.
Directions to Renaissance at Regency
Go south on Tryon Road, then left on Regency Parkway. Stay left at the split onto Ederlee Drive. Right on Regency Parkway, then right on Michaelangelo Drive into the community.
You can walk the two-mile paved trail around Symphony Lake and listen to a concert - both walking distance from any of these Renaissance at Regency lots.
Renaissance at Regencyis convenient to RDU, RTP, Raleigh, Durham and Chapel Hill. It has direct access to Highways 64 and 1, and Interstate 40.
Cary is part of the Triangle Area of North Carolina, one of the fastest growing and best places to live in the country; it is ranked highly in quality of life, social climate, and business climate by national publications.
For more information on living in Cary, including local attractions, click here!
Building a new custom home in Renaissance at Regency, or on any lot, doesn't have to be complicated or expensive, and there are thousands of plans and options available to make your new home exactly what you want.
To learn more about building a new custom home, find available lots around the Triangle, and hear about special area events, sign up for our monthly newsletter. It is full of tips and much more.
Finding the Right Location for Your New Home in the Triangle
Stanton Homes will help guide you through the lot and land selection process, so you know you've made all the right moves. We'll do the research for you, including a free lot inspection by one of our experts!
Copyright Stanton Homes 2009. Provided for informational purposes only, no claims are made by Stanton Homes regarding the validity of any claims. Buyer or buyers agent to verify all information before purchase.
Green got you going? Hearing some green terms tossed around? Well, thanks to Shelby Kyle at RE/MAX, you'll be able to understand a few of those terms just a little bit better!
Interested in green homes or green features in the Raleigh/Triangle/Fort Bragg area? Contact us, or call 919-278-8070. Or check out www.GreenHomesTriangle.com for some more great topics!
Have you ever wondered about all the lingo that is associated with Green Homes and Energy Efficiency? Well, let me clear up a few things and give you a reference as to what different things mean.
ACH- Air Changes per Hour- This is part of the Energy Star & Diamond Level testing to determine how much air leaks through the walls and ceilings (Hint: A lower number, the more efficient)
AFUE- Annual Fuel Utilization Efficiency. A furnace's heating efficiency. Measures the heat delivered vs. the fuel used. Measures in percentages. The higher number is better.
ASHRAE-American Society of Heating, Refrigerating and Air-Conditioning Engineers. This is the primary organization used in the United States for the design standards in our HVAC systems.
ENERGY STAR-A joint program of the U.S. Environmental Protection Agency and the U.S. Department of Energy helping us all save money and protect the environment through energy efficient products and practices.
FRESH AIR SYSTEM-An electronic system connected to the HVAC system that brings in filtered outside air on a timed basis.
HVAC-Heating, Ventilation and Air Conditioning. HVAC includes the furnace, air conditioning components, fan and ductwork installed in a home.
IAQ-Indoor Air Quality. IAQ is the quality of the air breathed by occupants of an indoor or enclosed environment.
IRC- International Residential Code. First published in 2000, the IRC is the Building Code for the State of Texas.
JUMP DUCT- A flexible, short, u-shaped duct that connects a room to a common space as a pressure balancing mechanism.
LOW E2- Low emissivity. Glass is coated with a metallic oxide layer that improves thermal performance. The primary function is to reduce heat gain in the summer and heat loss in the winter.
MANUAL J- The ASHRAE method for calculating residential home cooling loads and the sizing of the system.
MERV-Minimum Efficiency Reporting Value. The ASHRAE standard for filter efficiency. Higher rating is better.
RADIANT BARRIER- Low emissivity attic decking under shingled roofs that reduces summer heat gain, reduces cooling energy usage.
R-410a- Environmentally-friendly refrigerant used in our HVAC systems.
R-VALUE- Resistance - Value. The resistance a material has to heat flow. The higher the R-Value, the greater the resistance.
SEER- Seasonal Energy Efficiency Rating. It measures the efficiency of the air conditioner once it is up and running. Higher number is better.
SHGC- Solar Heat Gain Co-efficient. The solar radiation entering a home through the windows. The lower the number, the better the window is at blocking heat gain.
U-VALUE- A measure of heat transmission due to the air temperature difference from inside to outside. The lower the U-value, the better.
I hope you find this useful!!! If you have any questions, please feel free to contact me!!
Looking for a new home in the Raleigh area? Thinking the choices have gotten a little thinner? You're right....
New Home inventory in Chatham County NC was down 16% in third quarter 2009 versus third quarter 2008. Chatham County, which includes areas around Jordan Lake, south of Chapel Hill, Pittsboro, and Siler City, has been lauded for rolling, wooded hills and unspoiled terrain.
New Home Listings by Price Point in Chatham County NC
Chatham County saw some shifts in new home inventory levels. Some price points saw more inventory, while others saw decreased inventory.
New homes in Chatham County under $300K reduced from 33 listings last year to only 18 listings this year, a 55% reduction in new homes at this price point.
New homes in Chatham County from $300K to $499K increased from 38 listings last year to 51 listings this year. There have still been a significant number of sales in these price points - the increased inventory at these levels may be partially reflecting an increased demand.
Overall New Home Listings in Chatham County NC Third Quarter
In third quarter 2008, there were 207 new homes listed in Chatham County NC.
In third quarter 2009, there were only 174 new homes listed in Chatham County NC.
All statistical information courtesy of Stacey Anfindsen's TARR (Triangle Area Residential Realty) Reports. Anfindsen analyzes sales and inventory of Triangle real estate.
Chatham County NC New Homes - Market Report - Raleigh Relocation Information
Information about life and experiences in the Raleigh/Triangle area. A builder's perspective on new homes, home construction, home features, and market conditions in Raleigh, NC
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 US House of Representatives overwhelming voted to extend the first time home buyers credit for an additional 12 months to anyone in the military who has served overseas for three months in 2009. In a vote of 416 to zero the bill now has to go the US Senate and the President for final approval.
MLS: 1683936
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