Showing posts with label luxury real estate. Show all posts
Showing posts with label luxury real estate. Show all posts
Friday, July 31, 2009
Lenders reputation or lack of can tell you the bigger story, not what they promise.
When deciding on a lender for you home purchase it is important to keep in mind the reputation, or lack of, that the lender has. Often choosing someone who will cut fees and agrees to this and that, etc, that other lenders will not comes back to bite you at the closing table....if you get that far. Too many times when someone goes with the person who cuts this and that and promises all these things ends up coming to a hault half way through the process when the lender all of sudden says "oh, well that wont actually work, or we can't actually get that rate or do this bc of whatever". You want a lender who is reputable and more importantly someone who will get you exactly what they told you.....no surprises and no oopsie's. Save $300 today maybe cost you $3000 before the process is over.
If you disagree with what Jessica says, please contact her at JessicaRiffle@SeaCoastRealty.com. And, CLICK HERE for more info on Wilmington, NC real estate!
Sunday, March 1, 2009
Gov. Perdue Stimulates Ecomony Signs Additional Tax Credit
North Carolina Governor Bev Perdue recently signed the authorization that will provide new financial assistance to first-time home buyers and stimulate sales of about 1,500 North Carolina homes. The authorization enables the North Carolina Housing Finance Agency to expand its Mortgage Certificate Credit (MCC) program, which allows eligible home buyers to reduce their federal tax liability by 20 percent of the mortgage interest they pay annually. The program is one of only a handful in the nation and may ultimately save North Carolina home buyers more than $30 million.
“The MCC will help stimulate the housing market, which is integral to the recovery of our state’s economy,” Gov. Perdue said. “This is just the type of innovation from a state government agency that will help spur our economic recovery.”
The MCC program enables first-time buyers to take a tax credit up to $2,000 every year they occupy their home. This is in addition to the itemized mortgage interest deduction that all homeowners can claim.
“The MCC not only helps home buyers get into their first home but keeps the home affordable through the life of the mortgage by increasing their monthly take-home pay," stated Lucius Jones, board chairman, NC Housing Finance Agency.
For example, a home buyer who borrows $146,750 at 5.5 percent interest pays $8,022 in interest in the first 12 months. The 20 percent MCC means that home buyer reduces his tax liability by $1,751 for that year and allows the buyer to reduce his monthly tax withholding accordingly. Over the first 10 years of ownership, the home buyer would save $14,873 in taxes paid to the IRS.
For buyers who qualify, the MCC can be even more beneficial than the home buyer tax credit in the Housing and Economic Recovery Act (HERA) of 2008. While Congress made the HERA tax credit a true tax credit, it still expires this year, while the benefit of the MCC continues throughout the life of the loan. Even if the home buyer refinances, the 20% MCC tax credit may be reissued with the new mortgage.
To qualify for an MCC, a buyer’s income cannot exceed certain maximums, which range from $85,000 for a family of three or more in urban areas such as Raleigh down to $62,000 in more rural areas. The MCC can be used in conjunction with most mortgages, and borrowers can apply through the Agency’s more than 700 participating lenders and their branches. To find a lender, go to www.nchfa.com.
For more info on Wilmington, NC real estate and Wilmington, NC Luxury Real estate click here!
“The MCC will help stimulate the housing market, which is integral to the recovery of our state’s economy,” Gov. Perdue said. “This is just the type of innovation from a state government agency that will help spur our economic recovery.”
The MCC program enables first-time buyers to take a tax credit up to $2,000 every year they occupy their home. This is in addition to the itemized mortgage interest deduction that all homeowners can claim.
“The MCC not only helps home buyers get into their first home but keeps the home affordable through the life of the mortgage by increasing their monthly take-home pay," stated Lucius Jones, board chairman, NC Housing Finance Agency.
For example, a home buyer who borrows $146,750 at 5.5 percent interest pays $8,022 in interest in the first 12 months. The 20 percent MCC means that home buyer reduces his tax liability by $1,751 for that year and allows the buyer to reduce his monthly tax withholding accordingly. Over the first 10 years of ownership, the home buyer would save $14,873 in taxes paid to the IRS.
For buyers who qualify, the MCC can be even more beneficial than the home buyer tax credit in the Housing and Economic Recovery Act (HERA) of 2008. While Congress made the HERA tax credit a true tax credit, it still expires this year, while the benefit of the MCC continues throughout the life of the loan. Even if the home buyer refinances, the 20% MCC tax credit may be reissued with the new mortgage.
To qualify for an MCC, a buyer’s income cannot exceed certain maximums, which range from $85,000 for a family of three or more in urban areas such as Raleigh down to $62,000 in more rural areas. The MCC can be used in conjunction with most mortgages, and borrowers can apply through the Agency’s more than 700 participating lenders and their branches. To find a lender, go to www.nchfa.com.
For more info on Wilmington, NC real estate and Wilmington, NC Luxury Real estate click here!
Monday, February 23, 2009
Dramatic Slowdown Foreclosures
For the first time in months, the January 2009 foreclosure filings decreased 10 percent, according to RealtyTrac. Foreclosures were reported on 274,399 U.S. properties during the month, a 10 percent decrease from the previous month but still up 18 percent from January 2008. The report also shows one in every 466 U.S. housing units received a foreclosure filing in January.
Click here for more Wilmington, NC real estate and luxury real estate info!
Call me @ 910.352.1043. Email me @ jessicariffle@seacoastrealty.com
Click here for more Wilmington, NC real estate and luxury real estate info!
Call me @ 910.352.1043. Email me @ jessicariffle@seacoastrealty.com
Friday, February 20, 2009
Why I Would Buy
The number one reason to buy NOW. The government is giving away money! Literally. Eight grand, in your pocket if you buy a home in 2009!
Yes, I would. Of course, there are multiple reasons now is a great time like large amount of inventory, historically low interest rates, and great prices. If you wait and wait and try to time it just right you never will.
Call me at 910-352-1043 or email at jessicariffle@seacoastrealty.com!
Click here for Wilmington, NC real estate info!
Saturday, February 14, 2009
Thursday, February 12, 2009
Monday, February 9, 2009
Survey Says
A survey is a very valuable tool that should not be overlooked when purchasing a home.
For real estate information and luxury real estate information in the Wilmington, NC area CLICK HERE!
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