Real Estate Insights in the Carolinas

Home buyer tax credit extended & expanded

The $8,000 first-time homebuyer tax credit is extended

    * Now, qualified first-time home buyers would receive their $8,000 tax credit if they sign a purchase contract by April 30, 2010 and close by June 30, 2010
    * The home purchased must be their primary residence
    * Buyer cannot have owned a home during the past three years
    * Tax credit is up to 10 percent of the home’s value (not to exceed $8,000)
    * Annual income caps to qualify for the tax credit will increase ($125,000 for single filers / $225,000 for joint filers). Partial tax credit can be granted for incomes up to $145,000 for single filers / $245,000 for joint filers

New $6,500 tax credit for current homeowners purchasing a primary residence

    * Eligible home buyers must have lived in their current home for five consecutive years of the past eight years
    * The new home’s cost need not exceed the current home
    * Eligible for homes with purchase agreements written by April 30, 2010 and that close between Nov. 6, 2009 and June 30, 2010
    * Annual income caps to qualify for the tax credit will increase ($125,000 for single filers / $225,000 for joint filers). Partial tax credit can be granted for incomes up to $145,000 for single filers / $245,000 for joint filers

For more details about both tax credits contact HomeServices Lending.

More $ available for first time buyers

In addition to $8000 tax credit, another $2000 may be available for your first-time homebuyers through NC Housing Finance Agency.

Many of you no doubt already know about the $8000 tax credit that’s potentially available to your first-time homebuyers. What you may  not know about is the additional tax credit of up to $2000 that is potentially available to NC residents buying their first home.

To find out more about this tax credit and encourage your potential first-time homebuyers to take advantage of all the great savings available if they buy now, visit http://www.homes4nc.org/MCCFlyer.pdf

Peltier's Housing Market update

Ron Peltier, chairman & CEO of HomeServices of America (parent company of Prudential Carolinas Realty), discusses in this FoxBusiness.com video whether the housing market has hit bottom across the country and where it is heading.

Shift Happens - real estate

Buyers and sellers are changing their behaviors when it comes to real estate transactions and Prudential Carolinas Realty is committed to meeting them where they are, with the information they want, on their terms. We created this video on YouTube to share some compelling statistics on today's buyers and sellers primarily from the 2007 NAR Profile of Home Buyers and Sellers report. Enjoy!

There is more to this market than a sound bite

A question heard lately from buyers and sellers is, “What's really going on in our real estate market?” That question is no doubt prompted by sound bites heard and read in the national news ...sound bites that may not accurately reflect the reality of our local market.

So, what is the reality of our market? Simply this:

For BUYERS, this is a great time to buy!
• Interest Rates – Mortgage rates remain at historically low levels.
• Choices – Current inventories offer many wonderful homes from which to choose.
• Your Sales Associate – Your Prudential Carolinas Realty sales associate will not only help you find just the right home, but will take care of all the details along the way.

And for SELLERS, it's a very good time to sell
• Substantial Equity – Most homeowners have realized significant gains from the rapid appreciation of the past few years.
• Many Local and National Buyers – By pricing your home competitively and presenting it in its best light, you will attract the attention of many local buyers and outside buyers
• Your Sales Associate – The knowledge, skill, and service provided by your Prudential Carolinas sales associate will allow you to maximize your opportunity in today's market.