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| Buyers, Get an Edge During The Busy Spring Season |
| • Get your loan pre-approved. This will give an advantage on several fronts. First, it will be done and out of the way. Second, you'll know how much the bank is willing to loan you so you know in which price range to look. And third, it shows sellers that you're serious and ready to buy when you make an offer.
• Figure out how much you have for a down payment. First-time buyers typically make a down payment of 6 percent on a home purchase, and 24 percent of down payment funds were gifts from relatives or friends. If that's not an option, there are many loan programs that accept down payments of five or three percent. And don't forget closing costs, which will often run two to seven percent of the property's purchase price. Be ready at a moment's notice. If you're in an especially tight market, your Realtor will be reviewing new listings as soon as they're available. If he or she finds something that matches your criteria, you'll want to look at the house and be ready to make an offer -- quickly.
• When looking at houses, look at the potential. There are major factors you won't be able to change -- the neighborhood, proximity to work and schools, the basic floorplan of the house (unless you plan on completely renovating), and size of the back yard, among other things. If you're put off by paint or carpet color or old linoleum floors, envision what the walls will look like with your color of choice and the floors in a material you prefer.
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| Tax Credit Extended & Increased |
| In addition, the new version of the tax credit includes a $6,500 tax credit for any home buyer who has lived in the home they are selling, or have sold, as principal residence for five consecutive years in the past eight years. If potential home buyers have a binding contract on or before that date, they will have until July 1, 2010, to close the transaction. Local real estate expert, Maxine Williams Bahr, says the extensions to include a broader income range as well as repeat buyers will have a big impact on the Robbinsville/Lake Santeetlah market. “Our activity has really increased over the last few months because of it [the first-time homebuyer tax credit]. We’ve seen a lot more inquiries,” said Maxine Williams Bahr, Owner & Broker in Charge of Southland Realty in Robbinsville. “Just an extension of the program would have been fine, but with the modifications, there are going to be a lot of people who are looking into buying houses and it’s going to be good for everybody.” In fact, National Association of Realtors economists estimate that the current first-time buyer tax credit has contributed about $22 billion to the national economy, and about 2 million people will take advantage of the tax credit this year. In North Carolina, NAR reports the home buyer tax credit has brought an additional 26,900 buyers into the market through September and 189,200 first-time buyers will be able to take advantage of the tax credit. “It’s a big economic impact,” Bahr said. “Once someone ends up purchasing, typically that tax credit they received, they spend on upgrades or other purchases for the home, which generates momentum in the economy as well.” |
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| Pre-Foreclosure & Short Sale Listings |
| Our company is run by local real estate experts with experience in the Graham County home market. We will save you time and effort, and maximize your profits by avoiding the common mistakes most people make in the current market. We have developed a network of professionals including home inspectors, appraisers, handymen, contractors, and other critical partners that work with our team to make your transaction a success. Please call or email us today. We are here and ready to help you. |
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| Overstock.com recognizes Southland Realty |
| Online retailer Overstock.com Inc. has launched a real estate search application on its web site. Overstock said the site provides shoppers with access to more than 3 million classified, foreclosure and auction listings. Among the features on the real estate site is an "O-Hot Value Indicator," a tool that helps customers find the best deals by ranking each home's value relative to others in its neighborhood.
Maxine Williams Bahr, owner and broker in charge with Southland Realty said "This is a wonderful opportunity to reach more people via the internet with a well respected retailer like Overstock.com". Maxine continued "Southland Realty focuses on properties that offer some of the best value in today’s market. It is more than just price that determines a value – it is also location, building, condition, size and amenities. We are so proud that Overstock.com recognized six of our properties for this prestigious distinction."
The properties highlighted were as follows:
Upper Yellow Creek, Robbinsville, NC 28771
Old Hwy. 129, Robbinsville, NC 28771
Dick Branch, Robbinsville, NC 28771
Lower Mountain Creek, Robbinsville, NC 28771
Nantahala Trail, Robbinsville, NC 28771
Thunderbird Trail, Robbinsville, NC 28771
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