Hello Happy Bloggers! It felt like spring today, perhaps that’s the reason home showings we UP! There are all kind of ways to forecast the real estate market, One of the best is found on a web site called “Builderonline.com ”. As you can imagine, builders are very interested in deciding how to adjust their business plans based on likely home sales.
Builderonline.com in conjunction with Handley Wood Market Intelligence, just debuted there metric system for determining market with the best and least potential for 2009. Raleigh real estate came in a strong #6 in projected strong markets for 2009. The first five spots where taken by Texas. We tar heels hate to loose to Texas, but they are 5 times our state’s size. North Carolina came up with 3 spots on the top 15 Hot List of the Healthiest Housing Markets. They listed Raleigh first at the #6 spot, Charlotte hung in there with a #12 spot and Wilmington ranked #14.
As I’ve stated before, when you see the first signs of recovery, we are on our way up. I’ve always known North Carolina real estate is a great buy. Now, we’re seeing the positive headlines come once again to the tar heel state. See this article and click here to e-mail me your thoughts on “have we hit the bottom yet.”
Friday, February 27, 2009
Tuesday, February 17, 2009
Does the Stimulus Package Help Your Real Estate Holdings?
Hello – thanks for stopping by my blog today. It has been quite a while since I’ve had time to write. Seems it takes a lot more time than usual to sell real estate these days! My days are full of selling homes, marketing homes, answering questions for buyers and sellers and staying on top of a very challenging 2009 real estate market. Here is the latest on our new stimulus bill:
The bill was just signed and sealed…a $787 Billion Stimulus Plan made up of tax cuts and spending programs aims at reviving the US economy. Although the package was scaled down from nearly $1 Trillion, it still stands as the largest anti-recession effort since World War II.
Home owners and potential homebuyers in Raleigh real estate market stand to gain from key provisions in this stimulus plan. Here is what we know as of today...
Tax Credit for Homebuyers
First-time homebuyers who purchase homes from the start of the year until the end of November 2009 may be eligible for the lower of an $8,000 or 10% of the value of the home tax credit. Remember a tax credit is very different than a tax deduction – a tax credit is equivalent to money in your hand, as opposed to a tax deduction which only reduces your taxable income.
The tax credit starts phasing out for couples with incomes above $150,000 and single filers with incomes above $75,000. Buyers will have to repay the credit if they sell their homes within three years. Home buyers in the Raleigh and Cary real estate market will benefit greatly from this new tax credit.
Additional Housing-Related Provisions
Tax Incentives to Spur Energy Savings and Green Jobs — This provision is designed to help promote energy-efficient investments in homes by extending and expanding tax credits through 2010 for purchases such as new furnaces, energy-efficient windows and doors, or insulation.
Landmark Energy Savings — This provision provides $5 Billion for energy efficient improvements for more than one million modest-income homes through weatherization. According to some estimates, this can help modest-income families save an average of $350 a year on heating and air conditioning bills.
More Help for Homeowners in the Future
Another thing to keep an eye on in the coming weeks is President Obama’s plan to help struggling borrowers before they are faced with a default on their mortgage.
According to reports, the Obama administration is discussing plans to help borrowers who are struggling to stay afloat, but who have not yet fallen behind on their payments. At this point, details are scarce; however, reports indicate that President Obama is looking to spend approximately $50 Billion to directly help homeowners before they face foreclosure and financial disaster.
While this is good news for individual homeowners, it will likely be good for the housing industry as a whole. That’s because, assisting struggling borrowers before they default should help stop the wave of foreclosures, which are estimated to top two million this year. That, in turn, will help stabilize home prices.
The Economic Stimulus Plan is huge, and impacts a number of industries. I’ve highlighted some of the major provisions that may impact real estate.
Thanks for stopping by my blog today. I hope these details help you make plans for your real estate holdings in 2009. It will be a challenging year. As always, if I can help in any way, please contact me. Take care and God Bless.
The bill was just signed and sealed…a $787 Billion Stimulus Plan made up of tax cuts and spending programs aims at reviving the US economy. Although the package was scaled down from nearly $1 Trillion, it still stands as the largest anti-recession effort since World War II.
Home owners and potential homebuyers in Raleigh real estate market stand to gain from key provisions in this stimulus plan. Here is what we know as of today...
Tax Credit for Homebuyers
First-time homebuyers who purchase homes from the start of the year until the end of November 2009 may be eligible for the lower of an $8,000 or 10% of the value of the home tax credit. Remember a tax credit is very different than a tax deduction – a tax credit is equivalent to money in your hand, as opposed to a tax deduction which only reduces your taxable income.
The tax credit starts phasing out for couples with incomes above $150,000 and single filers with incomes above $75,000. Buyers will have to repay the credit if they sell their homes within three years. Home buyers in the Raleigh and Cary real estate market will benefit greatly from this new tax credit.
Additional Housing-Related Provisions
Tax Incentives to Spur Energy Savings and Green Jobs — This provision is designed to help promote energy-efficient investments in homes by extending and expanding tax credits through 2010 for purchases such as new furnaces, energy-efficient windows and doors, or insulation.
Landmark Energy Savings — This provision provides $5 Billion for energy efficient improvements for more than one million modest-income homes through weatherization. According to some estimates, this can help modest-income families save an average of $350 a year on heating and air conditioning bills.
More Help for Homeowners in the Future
Another thing to keep an eye on in the coming weeks is President Obama’s plan to help struggling borrowers before they are faced with a default on their mortgage.
According to reports, the Obama administration is discussing plans to help borrowers who are struggling to stay afloat, but who have not yet fallen behind on their payments. At this point, details are scarce; however, reports indicate that President Obama is looking to spend approximately $50 Billion to directly help homeowners before they face foreclosure and financial disaster.
While this is good news for individual homeowners, it will likely be good for the housing industry as a whole. That’s because, assisting struggling borrowers before they default should help stop the wave of foreclosures, which are estimated to top two million this year. That, in turn, will help stabilize home prices.
The Economic Stimulus Plan is huge, and impacts a number of industries. I’ve highlighted some of the major provisions that may impact real estate.
Thanks for stopping by my blog today. I hope these details help you make plans for your real estate holdings in 2009. It will be a challenging year. As always, if I can help in any way, please contact me. Take care and God Bless.
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