Jan

25

Houses Shrink, But Some ‘Must Haves’ Remain

Posted by nancycameron under For Buyers, For Sellers, General Information

Houses are getting smaller, according to data released last week by the National Association of Home Builders.

The association said that the average size of a new home in 2009 was 2,480 square feet, down from 2,520 square feet in 2008.

“The era of easy money is over. You really have to think before you go out and decide you need that five-bedroom, five-bath home,” said Rose Quint, the organization’s assistant vice president for survey research.

Despite smaller home sizes and tightening credits, there are still some features that are expected in new houses. Builders say the following are most likely to be standard in homes built in 2010:

  • Walk-in closets in the master bedroom.
  • Laundry rooms.
  • Insulated front doors.
  • Great rooms.
  • Energy-efficient windows.
  • Linen closets.
  • Programmable thermostats.
  • Energy-efficient appliances and lighting.
  • Separate shower and tub in master bathrooms.
  • Nine-foot ceilings on the first floor.

Source: MarketWatch, Steve Kerch (10/22/2010)

Browse all of today’s news

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Dec

10

Extended Tax Credit

Posted by nancycameron under For Buyers, For Sellers, General Information

The Newly Extended Tax Credit is Great News for Real Estate
By Deanna Lynn Sletten
Photo: © Harry Lines – iStockphoto
Potential homebuyers who were afraid they would miss the deadline for the first-time homebuyer tax credit can now continue the search for their new home without worry. The new extended homebuyer tax credit became effective on November 7th and continues until April 30, 2010. With the new tax credit, not only do first-time buyers enjoy the benefit of a tax credit, but people who are homeowners looking to buy a different home can benefit from the program also.

Who Qualifies for the Tax Credit?
As with the original program, this tax credit allows first-time homebuyers to receive a tax credit for 10% of the purchase price of a home up to a maximum of $8,000. A first-time homebuyer is defined as a person or a married couple who hasn’t owned a home for at least three years.

Homeowners who have recently sold their home or are looking to sell and buy a new or existing home can receive a tax credit up to $6,500. To qualify, the home they sell must have been their primary residence for at least five consecutive years over the past eight years.

Additional Program Stipulations
The extended homebuyer tax credit applies to the purchase of primary residences only, which includes condos, townhouses, co-ops and single-family homes. The maximum price of the home purchase cannot exceed $800,000. The tax credit will be allowed on purchases up to the April 30th, 2010 deadline as long as a contract for purchase has been signed and closing on the house is no later than June 30th. The buyer must live in the home for at least three years after the purchase or the tax credit must be repaid.

Income limits to receive the maximum tax credit are up to $125,000 a year for a single buyer and up to $225,000 for a married couple. The credit received is reduced as the income level rises. For a single buyer the maximum income level is $145,000 and for a married couple it is $245,000. Incomes over the maximum are disqualified.

With lower-than-normal home prices and affordable interest rates, the extension of the homebuyer tax credit makes this the perfect time for people to buy a new or existing home.

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Dec

3

Nine Consecutive Gains for Pending Home Sales

Posted by nancycameron under For Buyers, For Sellers, General Information

Pending home sales have risen for nine months in a row, a first for the series of the index since its inception in 2001, according to the National Association of REALTORS ®. Sales in the South increased 5.4 percent to an index of 115.4, which is 31.6 percent above a year ago.
http://www.realtor.org/RMODaily.nsf/pages/News2009120101?OpenDocument

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Aug

5

Monthly Newsletter Link

Posted by nancycameron under For Buyers, For Sellers, General Information

Check out our “Informed Home Buyer/Seller Newsletter” for August 2009!   Click on the link below.

http://morrisontheweb.com/InformedHomeBuyer/Informed%20Home%20Buyer%20Aug%2009.pdf

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Jun

29

Interest is UP

Posted by nancycameron under For Buyers, For Sellers, General Information

The phones are ringing, deals are being done, and homes are selling.   There has definitely been a change in  our local real estate market!   Homes still need to priced appropriately, and those that are – sell!  

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Jun

2

$8000 First Time Home Buyer Tax Credit

Posted by nancycameron under For Buyers, General Information

Don’t let this great opportunity slip through your fingers!  

Did you know?

A first time home buyer is ANYONE who has not owned a home in the previous three years.

As a first time home buyer you could receive a tax credit worth 10% of the purchase price up to $8000.

You can receive the tax credit THIS year by amending your 2008 tax return.

The deadline for purchasing your home in order to qualify for the tax credit is December 1, 2009.

With home prices and interest rates at historic lows, plus, the $8000 tax credit – this REALLY is the BEST time to buy!

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May

27

Welcome to Nancy Cameron’s Blog!

Posted by nancycameron under For Buyers, For Realty Professionals, For Sellers, General Information

Welcome to Nancy Cameron’s Blog! This blog will provide you with valuable information, tips, and general insight into the real estate market in Cornelius.

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