IS NOW THE TIME TO BUY A HOME FOR SALE IN WINSTON SALEM AND GREATER TRIAD NC ?
Well, let's analyze that and see it if is or not! Only you can determine if the stars are in alignment for you personally to make a smart decision to buy a home for sale in Winston Salem or to wait. With that said, let's look at other factors that could influence you to buy now as opposed to later.
As we approach the new year, we all start looking at our record keeping. If you have an accountant doing your taxes each year, you have probably received a reminder of sorts about starting to organize your files and receipts to get a jump on "their tasks" of providing accurate tax returns. If you've had a decent year, you may expect to pay some taxes when April 15th rolls around. How would a $6,500 or $8,000 tax credit help you this year?
If you answered like most of us, it would be great to have such a credit. That may be available to you, if you act now.
The basic rules are that you can't be earning over $225,000 as a married couple, or $125,000 for singles. The tax credit will be up to $6,500 for married couples if you are selling a home that you've lived in for 5 consecutive years. First time home-buyers will receive up to $8,000 (married couples) and $4,000 married, filing separately. The limit on the purchase price of the home is $800,000.
Did you know that in the Winston Salem, Triad area, home values have held upbetter that other parts of the country? The reason why, is that we've never really "over-stated" our home values here, being the wise folks we are! Therefore, we have sustained good value in our home ownership. That's not to say, however, that prices are not down for a purchase, because in many
circumstances, they are down. Job losses have contributed to that. If your job is secure, you've got the advantage.
Property Tax Values in Forsyth County were just appraised. They do this every four years, therefore property taxes will remain as they are for awhile. Great care was given this time by our county officials, to reflect our values correctly during a down national economy. I own several properties here and all of them went up in value. Another good reason to buy a home for sale in Winston Salem and the Triad now.
Currently, home mortgage interest rates are hovering at 4.75% for a 30 year fixed rate and 4.25% for a 15 year fixed rate, and with "no points" to buy! Some lenders can also "lock in" these low rates before you even begin looking for a home! So, if they do go up in a month or so, you will be protected!
Other promising news includes:
- Mortgage rates are expected to remain low for an extended period
- Retail Sales were up in November, as we head into the holiday season
- Unemployment claims fell to the lowest level since February
- The net worth of US households rose 5% during the third quarter
- Oil prices fell to $70 per barrel from recent prices above $80 per barrel
If you have been "thinking about it"...Now is the time to act because to get the tax credit, you must be under contract to buy a home for sale in Winston Salem by April 30, 2010 and close on that purchase by July 1, 2010. (First Time Homebuyers and now extended to include All Homebuyers!)
We are here to help you locate a Home for Sale in Winston Salem. Visit our website at Park Place Real Estate . If you're a BUYER or a SELLER you can sign up to search for homes for sale in the Winston Salem and Greater Triad Region for free. There is never an obligation to ever purchase or sell any real estate!
We'd love to hear from you! EMAIL Me Today.
Comments(0)