» tax credit

Did You Miss the Home Buyer Tax Credit? Reasons Now is the Time to Buy!

Tim — Mon, 05 Jul 2010 21:12:30 +0000

The deadline for purchasing a home for the home buyer tax credit passed us by on April 30, 2010. Buyers have been given a bit of extra time to close on these properties because of the recent bill passed by Congress.

But if you did not jump on the home buyer tax credit train in time, there are still plenty of great reasons to purchase a home in our current market!

Interest rates are currently at a 50 year low! In many cases around Charlotte, buyers are able to purchase homes with less money per month than they currently pay in rent. Even if you currently own your own home, now is a great time to transition into your next home. With interest rates this low, payments on a larger home are often the same as your current home. Whether you’re upsizing or downsizing, the savings can be tremendous.

Currently in Charlotte, we are in a buyer’s market. If low interest rates are not enough to convince you to buy, consider the fact that many homes are currently on the market in Charlotte for unbelievably low prices. Many times the owners of these homes are very motivated to sell. This means a great deal for prospective buyers.

Last, consider the tax benefits of owning your own home. With the suggestions above, you can currently buy a home in Charlotte at a great price, with amazing financing, paying less than you’re currently paying in rent, and at the end of the year you get to reap the benefits of owning your own home. The ability to deduct mortgage interest and property taxes is icing on the home owner cake.

So, don’t be discouraged if you missed the home buyer tax credit, there are still a ton of exciting reasons why you should buy a home in the Charlotte area.

If you have any questions about the Charlotte Real Estate market or would like help finding the perfect home, don’t hesitate to give me a call!

First Time Home Buyer Tax Credit Extension!

Tim — Thu, 01 Jul 2010 00:43:21 +0000

If you completed a purchase agreement by April 30th for your first home but have been unable to close on the property for various reasons, you may soon be able to breathe a sigh of relief! The house passed a bill on Tuesday June, 29th to extend the $8,000 first time home buyer tax credit for an additional 3 months. It is estimated that approximately 180,000 home buyers were set to miss the June 30th deadline to collect the tax credit. Under the proposed bill, buyers would now have until September 30, 2010 to complete the purchases of their first homes. The bill will now head to the Senate for a vote. Once passed, the extension should provide ample time for buyers and their lenders to close these deals.

If you missed the tax credit, don’t fret, now is still a terrific time to buy a home as home loan interest rates are at the lowest point in 50 years! If you have questions about buying a home or would like additional information about the Charlotte area real estate market, give me a call!

Is it Time to Sell your Charlotte, NC Home?

Tim — Sat, 27 Feb 2010 16:23:46 +0000

You may have considered selling your Charlotte area home recently but were quickly discouraged by the current buyer’s market. Don’t panic though, now may be a great time to sell!

With the new additions to the federal home buyer tax credit, home owners who have lived in their home for at least 5 consecutive years out of the last 8 years may be eligible to collect a $6,500 tax credit on the purchase of a new home. Now you may be wondering, “well how does that help me sell my current home?” The great news is the federal home buyers tax credit also provides first time home buyers with an $8,000 tax credit when the buyer contracts on the puchase of a home before the end of April 2010 and close on the home before the end of June 2010.

Recently we have seen a large uptick in the number of first time home buyers looking to purchase their first home in time to take advantage of the $8,000 tax credit. This may be a huge help in selling your current Charlotte home! Because we’re currently in a buyer’s market, you will be able to take advantage of the great deals when purchasing your next home and also collect the $6,500 tax credit, making it a win-win situation!

If you’ve been thinking about selling your home but have hesitated because of the current market here in Charlotte, feel free to give me a call so we can discuss your options. Or, click the “Get Home Value” button to the right to receive a free Comparitive Market Analysis of your Charlotte area home, townhome or condo sent directly to your email.