Can you really afford NOT to buy a house?  If you are currently sitting in the "renting boat", consider the following ownership vs. rent example below:

Suzy has a $900 mortgage that includes $700 of interest.
Her total house payments are $10,800 annually.
At the end of the year, $8,400 (12 months x $700) is tax deductible in the United States.
She is in the 28 percent tax bracket, so her tax savings are $2,352 ($8,400 X .28).
Her actual housing costs for the year are $8,448 ($10,800 - $2,352).
So Suzy has built $2,400 in equity!

Suzy's friend James currently rents because he believes he "can't afford" to buy.
He pays $800 in rent each month.
His housing costs for the year are $9,600.
So, even though James thinks he's saving money, he actually spends about $1,150 more than Suzy!
And he's not building any equity!

Contact me to begin your NC Triangle area home search today!

AND DON'T FORGET ABOUT THE $8000 FIRST-TIME HOMEBUYER'S TAX CREDIT!  Contact me for details.

Please be aware of the current scam being executed via texting.  This scam, known as "smishing", is the text message version of phishing emails created to try to steal personal information from unsuspecting consumers.  The following text message is one version currently circulating:

"Wachovia alert - your card starting with 4828 has been deactivated please contact us at 804-715-9368 to reactivate your card."

Wachovia, of course, has no hand in this except to inform customers that this is a scam. 

For more information, click here for the original Better Business Bureau article, or copy the link below into your web browser. 

It's raining real estate here!   We just put a property under contract in 2 days from listing, and at above list price!

Call me directly or click here to find the value of your Raleigh/Durham/Chapel Hill (NC Triangle) property. 

I look forward to speaking with you about my experience in a shifting market.

Pre-qualification by a lender is one of the first steps toward making your move a reality.  Once you're pre-qualified, you'll know exactly what price range you can afford and learn about and resolve any errors on your credit report right away.  Then, once you find the home you love, you will be able to take action quickly, get financially pre-approved for the specific property, and make an offer.  

A mortgage banker is the local lender who would handle your entire loan start to finish. They are the ones pulling your credit report, issuing you a pre-approval letter, and handling the entire loan process start to finish.  However, they only have a handful of products to offer you.   A mortgage broker performs these same tasks for you, except once they qualify you and gather all of your info, they match you with an actual lender to process the loan forward.  Their primary role is to shop around and find the best deal out there for you, which can save you money.  My philosophy is to choose a mortgage broker, but make sure they are local and come highly recommended.  It will be crucial to have the the many loan options available that a mortgage broker can find, have a way to easily meet with the broker in person for when you have questions or concerns, AND have the broker available to you until the loan is closed.

My clients have benefited greatly from my local mortgage broker resource.  Most of the time we arrange for a convenient consultation all together.  Connect with me for that highly recommended and local preferred lender resource you need, and let's get shopping! 

CURRENT HOMEOWNERS ARE NOW ELIGIBLE FOR A $6500 TAX CREDIT AND THE FIRST-TIME HOMEBUYERS TAX CREDIT HAS BEEN EXTENDED TO 2010!

Click here to access the YouTube video explaining the HOMEOWNERS TAX CREDITS in detail.

Remember a tax credit is just that... a tax credit. The benefit of a tax credit is that it's a dollar-for-dollar tax reduction, rather than a reduction in a tax liability that would only save you $1,000 to $1,500 when all was said and done. So, if a first-time homebuyer were to owe $8,000 in income taxes and would qualify for a tax credit of $8,000, she would owe nothing.

Better still, the tax credit is refundable, which means the homebuyer can receive a check for the credit if he or she has little income tax liability. For example, if a first-time homebuyer is eligible for a tax credit of $8,000 but is liable for $4,000 in income tax, she can still receive a check for the remaining $4,000!

PLEASE CONTACT ME TO START HOUSE HUNTING IN THE NC TRIANGLE AREA!

--Judy
www.seejudy.com
MY FEATURED LISTINGS

First of all, appraisals are professional objective opinions of value.  Appraisals are not an exact science, and appraised value is not a constant number.  For buying and selling purposes, appraisals are usually based on market value, meaning "what the property could be sold for in the current market".  Changes in market conditions will dramatically alter appraised value. In addition, appraised value does not take into account "other" special conditions such as the need to sell quickly. 

Other types of value include insurance value, replacement value, and assessed value for property tax purposes. Be aware that lenders usually use either the current appraised value or the sale price, whichever is less, to determine the amount of mortgage they will offer a buyer.

-Judy
www.seejudy.com
MY FEATURED LISTINGS