
Topics For Buyers & Sellers - Another reason for homeownership!
2009 Tax Tips Tax time is coming up. Don’t forget about the following benefits in 2009 for homeowners. What’s deductable in itemized deductions for homeowners? 1. Mortgage Interest 2. Points - paid at closing if you purchased or possibly if you refinanced this year 3. Mortgage Insurance Premiums 4. Property Tax 5. Energy Efficiency Credits - see IRS Form 5695 for qualifying projects 6. Home Buyer Tax Credit - see IRS Form 5405 to claim your credit if you qualify Good News for Today's Buyers: Homes Are Affordable. Selection is Great! Your Buying Power is up! Prices have adjusted! That means this is a prime opportunity for you to purchase low or buy more for your money. Financing is still available at historically low rated. If you are looking to build long-term wealth with real estate, don't miss out on taking advantage of this market! There are many great deals for homes here in this part of North Carolina. Pinehurst, Southern Pines, Aberdeen, Whispering Pines, Vass, Cameron, Pinebluff, and Seven Lakes have beautiful homes with great prices! Our website, www.PinehurstHomeSearcher.com is an easy way to search on line! Great Deals Every Day! Your Last Chance!!! It Pays to Buy Now! The federal tax credit for home buyers was recently extended and expanded! First-Time Home Buyers: If you have not owned a home within the last 3 years, you may be eligible for a tax credit of 10% of the purchase price of your first home up to $8,000.00 Current Home Owners: The tax credit program has been expanded to include you, giving you some additional incentives to move to a new home! You're now eligible for a tax credit up to $6,500.00 if you have owned and occupied your current residence for 5 consecutive years during the last 8 years.
To qualify for either of these tax credits, you need to act now! All contracts need to be in effect no later than April 30, 2010 and close no later than June 30 2010. Qualifying buyers may purchase a property with a maximum sales price of $800,000.
As we weather this economic storm, there are three essential principles we can count on for the future: 1. Inflation leads to higher interest rates. 2. Houses are selling in high quantities. 3. If you're a buyer, it's time to purchase or miss out on the opportunity!
"Get ready for inflation and highter interest rates." Arthur B. Laffer, Wall Street Journal, June 11, 2009
Buyers: don't make the mistake of waiting for everybody else to make a move before you feel comfortable enough to purchase. Many people have made a purchasing decision already, and we never know what the bottom of the market is until it has passed. Here's one thing you can take to the bank -- higher interest rates are the equivalent of a price increase.
People are waiting for prices to continue to drop; however, when rates go from 5% to 7%, it is the equivalent of a 20% increase in price to the borrower. Now's the time to buy! high quantities. According to the National Association of REALTORS®, the U.S. is currently in position to sell 4.68 million homes this year. That would put 2009 within the top 5% of homes sold in U.S. history. Although many people are purchasing distressed properties in foreclosure or short sales, there’s also a large number of purchases made on non-distressed property sales. The market is indicating that we may have reached the bottom.
  This May Be Your Last Chance!!! It Pays to Buy Now! The federal tax credit for home buyers was recently extended and expanded! First-Time Home Buyers: If you have not owned a home within the last 3 years, you may be eligible for a tax credit of 10% of the purchase price of your first home up to $8,000.00 Current Home Owners: The tax credit program has been expanded to include you, giving you some additional incentives to move to a new home! You're now eligible for a tax credit up to $6,500.00 if you have owned and occupied your current residence for 5 consecutive years during the last 8 years. To qualify for either of these tax credits, you need to act now! All contracts need to be in effect no later than April 30, 2010 and close no later than June 30 2010. Qualifying buyers may purchase a property with a maximum sales price of $800,000. Spring is coming to Pinehurst and Southern Pines and North Carolina is a great place to live!!! We can help you to find a great home! Don't miss this opportunity! As we weather this economic storm, there are three essential principles we can count on for the future: 1. Inflation leads to higher interest rates. 2. Houses are selling in high quantities. 3. If you're a buyer, it's time to purchase or miss out on the opportunity! "Get ready for inflation and highter interest rates." Arthur B. Laffer, Wall Street Journal, June 11, 2009 Buyers: don't make the mistake of waiting for everybody else to make a move before you feel comfortable enough to purchase. Many people have made a purchasing decision already, and we never know what the bottom of the market is until it has passed. Here's one thing you can take to the bank -- higher interest rates are the equivalent of a price increase. People are waiting for prices to continue to drop; however, when rates go from 5% to 7%, it is the equivalent of a 20% increase in price to the borrower. Now's the time to buy! high quantities. According to the National Association of REALTORS®, the U.S. is currently in position to sell 4.68 million homes this year. That would put 2009 within the top 5% of homes sold in U.S. history. Although many people are purchasing distressed properties in foreclosure or short sales, there’s also a large number of purchases made on non-distressed property sales. The market is indicating that we may have reached the bottom.  |  | | | | |

Buying Land and New Construction >How Easements Affect Your Land
It is extremely important to discover whether there are easements on undeveloped land you are thinking about buying. An easement is the legal right to use another person's land for a specific, acknowledged purpose. Easements can significantly affect your development and use of the property.
A typical easement might permit the use of a dirt fire road that cuts through both the neighbor's property and your land. The road provides access to both properties, and your neighbor has to drive through yours to get to his. The house you build has to be situated ten to fifteen feet away from this access road. If the road cuts through the middle of the lot, you might have difficulty finding room for the house you want to build.
Consult with your real estate agent, an attorney or a title researcher for accurate information about the easements. When making an offer on undeveloped land with an easement issue, be sure to include a contingency that you must approve of any existing easements, or the offer is null and void.
|
| Q |
To what process do the terms closing, escrow, settlement and passing papers refer?
|
| A |
These terms, which vary in different parts of the country, describe the conclusion of a real estate sale. |
See More Real Estate Trivia > |
|

|
Lucretia Pinnock Frontgate Pinnock Properties 115 E. Pennsylvania Ave. Southern Pines, NC 28387 910-692-6767 Fax: 910-692-4141 lucretiapinnock@NUMBER1EXPERT.com
Whatever your questions, I'll help find the answer. I have been a full time real estate professional in Moore County since 1985. And as one of America's NUMBER1EXPERTS™ and an avid reader of professional journals, I understand national and local trends in the real estate market. Because of this level of professionalism, Realty World-America has inducted me into the Hall of Fame for consistent real estate success. I am well equipped to guide you through all your real estate needs in the Pinehurst area. Call or email me today! |
NUMBER1EXPERT®
© Best Image Marketing and/or its clients.
All rights reserved. All information deemed reliable but not guaranteed.
|