Forbes magazine rated Raleigh one of the top 3 most innovative cities in the US. This was from a study conducted of the l00 largest US metropolitan areas that were ranked according to each areas patent per person, venture capital investment per capita,and ratio of high-tech, science and creative jobs.
 Forbes also ranked Raleigh the 4th highest for science and tech jobs.
If you are in a house that you cant afford or you owe more money on it than you can sell it for, beware of those that tell you selling through the process of a “short sale” may be the answer to your problems. Selling via “short sale” is means you sell the property for less than what you owe the bank. Of course the bank must agree to this solution. As with a foreclosure this can still negatively affect your credit score. It is a prediction of future risk. There may be a chance to sell your house on the open market and your house may be worth more than you think. Do not wait too long to consult a real estate professional. Time is not on your side if you are having trouble making your payments.
If you are stuck in a house that you cant afford, there may be help. Seek the help of a real estate professional before it is too late. Your home may be worth more than you think. If your property is at risk you have a right to know all of your options. Selling your house on the open market is by far the most under utilized option. The fact is that selling your home will give you the most money and may help save your credit. We have helped several families and may be able to help you.
On November 5, 2009, the Worker Homeownership and Business Act passed the House with my support. The legislation extends the $8,000 tax credit for first-time home buyers to homes that were purchased prior to May 1, 2010.
This bill also established a new tax credit of $6500 for certain non-first-time home buyers. To be eligible for the new credit, the home buyer must have owned and resided in the same home for at least five consecutive years. Either tax credit can be utilized until June 30, 2010, provided the home buyer has entered into a binding contract on a principal residence by April 30, 2010.
*If the home is sold within 3-years, the $8,000 tax credit must be re-paid
…..on Friday, Fannie Mae issued an amendment to their current policy with regard to the number of “financed” properties they will allow a borrower to have. Under current guidelines, the number of financed properties is capped at four (4):
According to most realtors you talk with today, curb appeal matters. It is the one thing you can do, sometimes with not alot of cost, that can make a huge difference in the appearance of a home and a potential sale. Because today’s buyers have so much to choose from , the first impression must be a postive one. For major replacements , wood deck additions, window and door replacements, fiber cement siding returned a high percentage of remodeling cost. if you are looking for less expensive ways to spruce up the exterior and give a good impression you may want to try a fresh coat of paint on the front door, a new door knob, taking (and leaving) screens off of the windows and cleaning the windows. And oh yes, dont forget to trim the bushes and add fresh mulch or pinestraw! Good luck. For more information on Selling your Home in Raleigh NC please visit our website at www.bettyhomes.com or call Betty at 601-4478
Current FHATemporary Loan Limits in Wake County are at 295000. As of January l, 2009 those limits will decrease to 271,050 in Wake County.
Durham County FHA limit for 2009 is 334,650
Johnston County,Granville,Franklin and Vance 271,050
Chatham,Orange and Person Countys 334,650
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 Economists predict that we can expect to see a rebound in the economy in this area begininning the second quarter of 2009. We will be waiting!!
If you are a First Time Home Buyer and purchase a personal residence between April 9, 2008 and July l, 2009 you are eligible to receive a tax credit of $7500. This is not a deduction but actually a Reduction in the amount of taxes you owe. Although the tax credit has to be paid back, qualified buyers will have l5 years interest free to re-pay. Wouldnt an extra 7500 at tax time help!!Â
First Time Home Buyers , this is your time to buy. Rates are low, the tax credit is available, there are more houses on the market now and sellers are ready to sell. Visit our website to learn more about the benefits of Homeownership., www.bettyhomes.com and of working with an Accredited Buyers Representative.
email bbargoil@fmrealty.com
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Call or email for your free copy of the Raleigh Homebuyers Guide . Get information to help in the home-buying process including:
tax advantages of home ownership
how to select the right agent
how to select the right loan
the various ways to search for property
first time homebuyer credits
please email us and be sure to include your address:
bbargoil@fmrealty.com or visit our website at www.bettyhomes.com
We look forward to hearing from you. Dont be one of the ones 2 years from now wishing you should have invested in real estate!!
