Greensboro, NC

Home resales rose far more than expected last month to the highest level in more than two years as buyers scrambled to complete their purchases before a tax credit for first-time owners expires.

The National Association of Realtors says sales rose 9.4 percent to a seasonally adjusted annual rate of 5.57 million in September, from a downwardly revised pace of 5.1 million in August. Sales had been expected to rise to an annual pace of 5.35 million, according to economists surveyed by Thomson Reuters.

The median sales price was $174,900, down 8.5 percent from a year earlier, but the smallest annual drop in 13 months.

The Lindley Park neighborhood, located in Greensboro, NC, held its annual Fall Festival last Saturday, October 17th and it was a huge success. Fortunately, the rain stayed away and Lindley Park residents of all ages bundled in coats and jackets to enjoy the festivities.

It may have been brisk outside but inside the Team Leung Moonwalk, there was some serious heat as lots of little bodies bounced around all afternoon.

There were also lots of delicious entries in the chili cook-off, which kept the adults warm! You can see from the photo that many people were crowded around the tables with the chili pots.

Team Leung was on hand at the festival and gave out a hundred free pumpkins. We also gave out bottles of water, which some said was needed to put out the fire after tasting all that chili! Each bottle of water came with a koozie, which promoted www.LindleyParkHouseValue.com. Each month, a report with Lindley Park real estate information is posted on this site. The report includes homes listed for sale, homes under contract and homes that have sold. It also has a link so neighbors can receive via email a detailed report about what their homes are worth. Be sure to check it out often to find out what is going on in Lindley Park. There are also links to neighborhood reports for Guilford Hills, Kirkwood, Starmount, Sunset Hills and the entire city of Greensboro.

Thanks to the many Lindley Park volunteers who donated so many hours to make this wonderful event happen!

This was posted today by Fox News. At least it's on the front burner now.

U.S. Senator Johnny Isakson of Georgia is sponsoring a bill that would extend the $8,000 tax credit for first-time homebuyers. The credit is set to expire soon, unless Congress and the White House can save it.

At a Senate Banking Committee hearing Tuesday homebuilders, mortgage bankers, realtors and other supporters said the extension is critical to continuing the effort to bolster home sales and to stabilize the housing market.

Supporters of the extension said the credit, which expires at the end of November, has helped sell more than 350,000 extra homes so far this year.

"If we don't do the housing tax credit, in my personal opinion, and extend it through mid-year next year and take away the first time home buyer means test and raise the income qualification, we will have a dramatic and awful situation in the United States of America from which recovery is going to be even more difficult than we've experienced already," said Sen. Isakson.

Under legislation proposed by Sen. Isakson, the tax credit would remain at $8,000 but it would be extended to all homebuyers, not just first time homebuyers.

Isakson's bill would allow the credit for home sales closed by June 30 of 2010.

The bill would also limit the credit to individuals who make less than $150,000 a year and to couples who make less $300,000 a year

The Congressional Budget Office said the proposal would cost $16.7 billion. The chairman of the banking committee, Senator Christopher Dodd, said he expects the Senate will vote to extend the credit in the next few days.

Housing Secretary Shaun Donovan said the Obama administration is reviewing the proposal and will announce which version of the credit it can support within the next few weeks.

When honesty doesn't work , it can be very disheartening. Even worse, it can mean a loss of business.

As a builder, potential clients sometimes treat us as though we are trying to sell them snake oil. Of course, there may be some validity to their perceptions. We have all heard stories about builders and re-modelers, which were real nightmares.

There's the home that took a year and a half to build, when it was supposed to be six months. There are many stories of building costs going well over budget, some increases not even known until closing. Inferior materials and workmanship account for a large number of homeowner complaints. Finally, there are many stories of customers unable to reach their contractor/builder. It's not unheard of for no replies for weeks at a time.

We at Piedmont Personal Builders pride ourselves on our honesty, integrity, and genuine concern for our clients. Our level of customer service is unparalleled in the area. We have been building "on your lot" custom homes for nine years. Word of mouth has been our best marketing tool. We give a list of everyone we have built a home for to every potential client. We are so confident in what our customers will say about us.

So, what do we do when honesty doesn't work? We have lost several sales over the last couple of years because we were honest and had the client's best interest in mind. Many potential clients already own land and some are considering purchasing a piece of land. We offer all potential clients a no cost, no obligation lot evaluation, which gives them a builder's perspective on any issues, negative or positive, affecting the building plans. On a number of occasions, the home buyer wanted a walk out basement. On each of these lot inspections, we determined the land did not have enough fall off and was not at all suited to a basement. Here in North Carolina, basements are not very common as they are in many other parts of the country. Our red clay soil is not conducive to a dug out basement. Most basements are "walk out" and built on a lot with a suitable slope. On each of these occasion's, we suggested the cost would be very high for the basement and tried to show alternatives in the home plan, or even the lot itself.

Well, we lost all of those potential sales. All of those folks built their homes with basements and all at a very high cost. We never said we would not build their basements, but suggested alternatives which would benefit them. Apparently, our honesty offended them. So, is the customer always right. Should we keep our opinions to ourselves and always give them what they want, no matter the cost or outcome? It's a tough call, especially in these difficult financial times for any builder.

Sunset Hills is another wonderful neighborhood here in Greensboro. It is very convenient to downtown Greensboro and the University of North Carolina, Greensboro (UNCG). The homes here were built as early as the 1920s. They offer a wide variety of classic architecture such as Tudor Revival, Colonial, Georgian and Neo-classical. There are one- and two-story homes, along with some bungalow homes. Many have been meticulously renovated. The neighborhood park, with playground equipment and tennis courts, is a great place to bring the kids or just relax on a bench and enjoy the scenery.

The Sunset Hills Neighborhood Association (SHNA) is a very active organization that has a great website with lots of neighborhood information. Check out the calendar so you don't miss any of the events that the SHNA sponsors. You can choose from a Fourth of July parade and picnic, an annual pig picking, neighborhood clean-ups, plus many more!

Each month, a report with Sunset Hills real estate information is posted on www.SunsetHillsHouseValue.com. The report includes homes listed for sale, homes under contract and homes that have been sold year-to-date. It also has a link so Sunset Hills homeowners can receive via email a detailed report on what their homes are worth. Be sure to check it out often to find out what is going on in Sunset Hills. It also features links to market reports for other neighborhoods, such as Guilford Hills, Kirkwood, Lindley Park, and Starmount, as well as the latest real estate information on the entire city of Greensboro, NC.