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!
The Judy Weinstock Team at Keller Williams Realty 1516 East Franklin Street Chapel Hill, North Carolina 27514 888 SEE JUDY (888.733.5839) www.seejudy.com
The Judy Weinstock Team at Keller Williams Realty 1516 East Franklin Street Chapel Hill, North Carolina 27514 888 SEE JUDY (888.733.5839) www.seejudy.com
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.
The Judy Weinstock Team at Keller Williams Realty 1516 East Franklin Street Chapel Hill, North Carolina 27514 888 SEE JUDY (888.733.5839) www.seejudy.com
In case you haven't heard, both the House of Representatives and Senate have passed legislation to extend the existing first time homebuyers $8,000 tax credit, and expanded it to NON first time homebuyers as well, but limit it to $6,500. It's expected to be signed by the President in the coming days. As it's written, the client must be under contract by the end of April, 2010 and close by the end of June, 2010. So let's spread the great news!
The Judy Weinstock Team at Keller Williams Realty 1516 East Franklin Street Chapel Hill, North Carolina 27514 888 SEE JUDY (888.733.5839) www.seejudy.com
The Judy Weinstock Team at Keller Williams Realty 1516 East Franklin Street Chapel Hill, North Carolina 27514 888 SEE JUDY (888.733.5839) www.seejudy.com
In February of this year, Keller Williams International launched a new division - KW Commercial. With this development, Keller Williams is now able to serve both residential and commercial real estate needs. The KW Commercial division here in our local office includes agents with extensive experience in a wide variety of commercial real estate transactions including: investments, leasing, sales, development and 1031 exchanges. Whether you are a commercial tenant, a property owner or an investor, or an agent needing to refer a commercial client, I'm sure KW Commercial can help you achieve your commercial real estate goals. If you or someone you know has a need in the area of commercial real estate, please give KW Commercial the opportunity to become your commercial brokerage of choice. You can also learn more about KW Commercial by visiting our website www.kwcommercial.com, or contact me through my website.
The Judy Weinstock Team at Keller Williams Realty 1516 East Franklin Street Chapel Hill, North Carolina 27514 888 SEE JUDY (888.733.5839) www.seejudy.com
According to a podcast posted by Chief Economist for the NAR, Lawrence Yun, our government should consider extending the tax credit deadline for new homebuyers.
The key is to stabilize home value prices, or federal interest rates could rise sooner and more sharply. Home value averages are at a historical low, but the Home Buyer Tax Credit has significantly impacted the market and stimulated home sales, steadily trimming away inventory. The market is moving in the right direction. Per Yun, "It would be an utter pity if the housing market, just at the cusp of a self sustaining recovery, rolls downhill again."
According to Yun, the market activities need a moderate increase to continue to regain consumer confidence. He reports that we need to extend the credit for ALL homebuyers at least into the 2nd quarter of 2010. Then the housing market will truly have a self sustaining recovery.
Yes, the price tag for extending the credit would be $10-20 billion, but it would create invaluable long term economic growth to steadily bring down the national $1.5 trillion deficit, the highest ever. Surely we can grant American homeowners this if we just granted Wall Street $700 billion, right?
Fellow REALTORS®, look for calls to action from the NAR and be ready to respond.
The Judy Weinstock Team at Keller Williams Realty 1516 East Franklin Street Chapel Hill, North Carolina 27514 888 SEE JUDY (888.733.5839) www.seejudy.com
Part of my service to buyers is to make sure we do a final walk-thru of the property before signing any closing papers. Here is a list of items I always make sure to check for:
•§ Obviously, repairs you've requested have been made (and we obtain copies of paid bills and any related warranties at closing). It's actually a good idea to pay for a "re-inspection" with your home inspector, prior to closing.
•§ All items that were included in the sale price-draperies, lighting fixtures-are still there.
•§ Screens and storm windows are in place or stored.
•§ All appliances are operating (and have not been "switched out").
•§ Intercom, doorbell, and alarm are operational.
•§ Hot water heater is working.
•§ HVAC is working.
•§ No plants or shrubs have been removed from the yard.
•§ Garage door opener and other remotes are available.
•§ Instruction books and warranties on appliances and fixtures are there (or waiting for us at closing).
•§ All personal items of the sellers and all debris have been removed.
The Judy Weinstock Team at Keller Williams Realty 1516 East Franklin Street Chapel Hill, North Carolina 27514 888 SEE JUDY (888.733.5839) www.seejudy.com
The National Association of Realtors conducted a study to reveal over 80% of buyers find their home on the internet. Below are the top 4 types of sites which buyers reported were used find their home:
•1. Multiple Listing Service (MLS)
•2. REALTOR.com
•3. Real estate firm website
•4. Real estate agent website
As an experienced Listing Specialist, I utilize all four (and more!) in my marketing strategy for our clients' properties. Contact me today for a comprehensive look at my marketing plan and sales record.
The Judy Weinstock Team at Keller Williams Realty 1516 East Franklin Street Chapel Hill, North Carolina 27514 888 SEE JUDY (888.733.5839) www.seejudy.com
You should know, recent changes in North Carolina law affect the way the public is represented by real estate agents. To assure that consumers are made aware of these changes, the North Carolina Real Estate Commission and the North Carolina legislature have enacted certain legal protections for buyers and sellers. They created a brochure entitled "Working with Real Estate Agents" which the law requires you to receive at the first "substantial contact" with a real estate agent. The brochure describes the duties and obligations of real estate agents with regard to representing both buyers and sellers of real estate.
It is critical that until you have chosen a REALTOR® to represent you, you do not disclose any confidential information that could compromise your negotiating position. Once you've chosen your REALTOR®, you may then confide in them as your fiduciary, since they then become obligated as your agent to represent your best interests.
The Judy Weinstock Team at Keller Williams Realty 1516 East Franklin Street Chapel Hill, North Carolina 27514 888 SEE JUDY (888.733.5839) www.seejudy.com
Are you thinking of buying, selling, investing or retiring in the North Carolina Triangle area?
Are you planning to attend or teach at UNC, Duke or NC State, or have you found employment at the RTP or elsewhere and need relocation assistance? Perhaps you are seeking to enroll your child in one of our fine private schools such as Emerson Waldorf School? Or perhaps you have been hearing great things about The Tarheel State and communities such as Raleigh, Cary, Chapel Hill, Durham, Pittsboro or Hillsborough and you would like more information?
The Judy Weinstock Team is prepared to help both sellers and buyers. Whether you are buying, looking for a real estate investment or needing to market and sell your property, you will need a professional REALTOR® to help you. The Judy Weinstock Team can provide you with information about the local real estate market, area demographics, mortgage rates and terms, available homes, land, condos, townhomes and farms, and information on effectively marketing your home to sell quickly at the highest price.
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.
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