Tax credit

Posted by Betty Bargoil @ 12:47 pm, January 22nd, 2010

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.

Raleigh NC Real Estate - First Time Home Buyers Tax Credit

Posted by Betty Bargoil @ 6:22 am, March 13th, 2009
  • Available to first-time home buyers.  You also qualify if you have not owned a home within the last 3 years.  
  • The tax credit is not a loan and does not require repayment*
  • The tax credit reduces the home buyer’s tax liability; if the buyer’s liability is less than $8,000, the remaining credit will be issued as a check
  • Home purchase must be for a primary residence
  • The credit is available on home purchases between January 1, 2009 and  December 1, 2009.  You must close by December 1, 2009.
  • If you are single and make $75,000 or more, or are married and make $150,000 or more, you do not qualify for the tax credit
  • The credit is not eligible if the seller is a relative of the buyer

*If the home is sold within 3-years, the $8,000 tax credit must be re-paid

Hope for investors in Raleigh NC

Posted by Betty Bargoil @ 12:30 pm, February 10th, 2009

…..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):

Effective March 1st:
Fannie Mae will allow investor and second home borrowers to own five to ten financed properties if they meet certain eligibility and underwriting requirements.  
Specific requirements include:
Down payment of 25% is required.
Minimum Credit Score of 720
No History of Bankruptcy or Foreclosure in the last 7 years.
No delinquencies within the past 12 months on any mortgage loan.
Reserve requirements after closing include 6 months on the subject property as well as 6 months additional on each other financed property over 4, two months if under 4 financed properties.
Attached is a link to the actual FNMA announcement.

Curb Appeal Matters - Selling your home in Raleigh NC

Posted by Betty Bargoil @ 12:28 pm, February 10th, 2009

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

2009 FHA Loan Limits Announced - Mortgage Raleigh NC

Posted by Betty Bargoil @ 9:46 am, December 11th, 2008

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

 

 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!!

Real Estate in Raleigh: First Time Homebuyers Tax Credit ( $7500)

Posted by Betty Bargoil @ 7:58 am, November 14th, 2008

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!! 

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

Raleigh Homebuyers Guide

Posted by Betty Bargoil @ 5:29 pm, November 11th, 2008

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!!

Raleigh First Time Homebuyer Guide

Posted by Betty Bargoil @ 5:25 pm, November 11th, 2008

There will probably be many people a couple years from now regretting a decision not to buy a house. Although we have felt the ripple effect from the floods in other areas, we always bounce back and are in a better position than before. I am both encouraged and excited that this will happen. Of course I am hoping sooner than  later. Rates are low,tax advantages are great, sellers are ready to sell! Please call or email us for your free Homebuyers Guide. visit www.bettyhomes.com to receive your free copy today

or email at bbargoil@fmrealty.com

 

 This will give you valuable information for your decision making process including;

The various ways to search for property

Selecting right real estate agent

Selecting the right mortgage consultant

The tax benefits of homeownership

And much much more; visit our website at www.bettyhomes.com or email at bbargoil@fmrealty.com

Make sure to include your mailing address!

Raleigh First Time Homebuyer Guide

Posted by Betty Bargoil @ 5:25 pm, November 11th, 2008

There will probably be many people a couple years from now regretting a decision not to buy a house. Although we have felt the ripple effect from the floods in other areas, we always bounce back and are in a better position than before. I am both encouraged and excited that this will happen. Of course I am hoping sooner than  later. Rates are low,tax advantages are great, sellers are ready to sell! Please call or email us for your free Homebuyers Guide. visit www.bettyhomes.com to receive your free copy today

or email at bbargoil@fmrealty.com

 

 This will give you valuable information for your decision making process including;

The various ways to search for property

Selecting right real estate agent

Selecting the right mortgage consultant

The tax benefits of homeownership

And much much more; visit our website at www.bettyhomes.com or email at bbargoil@fmrealty.com

Make sure to include your mailing address!

Selling your home in the Raleigh, NC area

Posted by Betty Bargoil @ 10:04 am, October 29th, 2008

QUESTIONS FOR POTENTIAL HOME SELLERS
 

Are you relocating from the area?  If  yes,  would you like to have an agent in your relocating area ready to introduce you to your new community?
 

Have you spoken with any other agents about listing your home?  Will you be interviewing other agents?
 

What is your address?
 

Are you the original owners?
 

How long have you lived in your home?
 

Have you added any square footage?  Finished an attic, basement, added a screened porch, patio, deck…. Were those additions permitted improvements with final approval from the Inspections Department?  You can’t count unpermitted additions in heated square footage.
 

Have you updated your home in any way?  Do you have new appliances, heating and air, carpet, hot water heater, etc.
 

If you were describing your lot to a potential buyer, how would you describe it?
 

Do you know your square footage?
 

Do you have a recent appraisal?  Why did you get the appraisal?
 

Do you have a survey?  Have you added a fence, retaining wall, storage building to the property since that survey?
 

Do you have a fence?
 

Tell me about the storage areas in your home.
 

What is the exterior construction of your home?  Brick, masonite siding, cedar shakes, etc.
 

Tell me about your home.  How many baths, bedrooms, living room, dining room, kitchen, bonus room.
 

Are there any items in your home you intend to not sell with the property. For example: a chandelier, mirror, refrigerator, etc.
 

Have you had your HVAC serviced recently?
 

What are the ages of the major systems in your house (roof, appliances, water heater, HVAC)?
 

If you were going to remain in your home , what would be the next few things you would need or want to do to the house?
 

If you have a septic system, when was it last pumped?
 

Do you have a copy of the home inspection from when you purchased the house?
 

What are the particular features of the house that you and your family enjoyed?
 

Are there any signs that may indicate major problems like excessive moisture or water damage, sagging ceilings, cracks in walls, chimney pulling away from the house….
 

If your home was built before 1978, have you had any reports related to lead based paint?
 

May I see a copy of your deed?  Verify owners of record and legal description.
 

Are you aware of any special zoning issues affecting the property?
 

Do yopu have a copy of the restrictive covenants for your neighboirhood?
 

Do you have any information about designated flood plains in the area?
 

To your knowledge, did this home ever have oil heat?
 

Have you eer sold a home before?  Tell me about anything that occurred during that sale that you hope will not occur this time.
 

What is important to you in the company and agent that will represent you?
 

Do you of any “for sale by owners” that have recently sold in the neighborhood?
 

If a condo, can you provide financial statements and recent HOA reports for a buyers review?
 

Do you have a yearly termite bond?
 

If there is no mortgage on the home, but there was when you purchased, do you have something showing cancellation of the note and deed of trust?
 

Are there any restrictions within the subdivision that prohibit or limit signage?
 

How soon would you like to have your home listed?
 

If your home sells quickly, do you have a plan for other living arrangements?