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It has been the host of Bassmaster Tournaments, including the Bassmasters Classic in 1994, 1995, 1997 and 2007. Much of High Rock Lake is lined with privately owned homes.
The lake has no restrictions on boat motor size and personal water craft are legal for use.
Here are some links about High Rock Lake....
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The amount for either credit is the lesser of 10% of the home purchase price or $8,000.
The $8,000 credit will not need to be repaid.
If the home is sold within the first three years, the full amount of the credit is due upon sale.
The purchaser (and the purchaser's spouse) may not have owned a home in the three years prior to the purchase date of the home. The tax credit is applicable to any home that will be used as a principle residence. Based on that guideline, qualifying homes include single-family detached homes, as well as attached homes such as townhouses and condominiums. In addition, manufactured or homes and houseboats used for principle residence also qualify. For new construction, the purchase date is considered the day you occupy the home; therefore you must move-in by November 30th 2009 to qualify for the tax credit.
The tax credit phases-out for individuals making $75,000 or over modified adjusted gross income (MAGI), and couples making $150,000 or over MAGI. Below are examples of how the phase-out will apply to the two different scenarios.
Individual Making $75,000 or Over
Assume that an individual homebuyer has a modified adjusted gross income of $88,000. The buyer's income exceeds $75,000 by $13,000. Dividing $13,000 by $20,000 yields 0.65. When you subtract 0.65 from 1.0, the result is 0.35. Multiplying $8,000 by 0.35 shows that the buyer is eligible for a partial tax credit of $2,800.
Couple Making $150,000 or Over
Assume that a married couple has a modified adjusted gross income of $160,000. The applicable phaseout to qualify for the tax credit is $150,000, and the couple is $10,000 over this amount. Dividing $10,000 by $20,000 yields 0.5. When you subtract 0.5 from 1.0, the result is 0.5. To determine the amount of the partial first-time homebuyer tax credit that is available to this couple, multiply $8,000 by 0.5. The result is $4,000.
The $8,000 tax credit can be claimed for your 2008 tax year (filed by April 15th 2009), 2008 amended return or 2009 tax year.
Homes purchased in 2008 are subject to the $7,500 repayable tax credit if taken on their tax returns.
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OK today I received yet another sales notice from a builder in Davidson County, NC. This not a small builder with just a few homes though. We are talking about discount of anywhere from 5.9% to as much as 27.3%! Take for example a home that has four bedrooms and four and a half bathrooms that originally listed for $407,360 is now on sale for only $295,990! I mean WOW! I have been very busy sending this list out to all of my buyers. Believe me I have been getting emails already about this. Then the best part get this after the column on the spreadsheet gives the new sales price in red in the column next to it they put Make An Offer! All I have to say is MERRY CHRISTMAS!
So what do you have under your tree!? Or better yet where would you like to put your tree?! I just had a very happy buyer sign a contract today. I being realistic about the loan process put the closing as the 29th of December. Well, I spoke the lender today and leaned a little bit and if our luck holds we will have her in her new home BEFORE CHRISTMAS!
So can you think of a better early Christmas present then your very first home!
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Per the Southeast Tourism Society - The Barbeque Festival the top 20 event for October 2008.
The Travel and Leisure Magazine says the festival is one of the top 10 food festivals in the US.
Visit http://www.barbecuefestival.com/home.html for much more info.
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Brad and Angela Lawrence - Brokers/REALTORS
Multi-Million Dollar Producers
ERA Premier Realty
NC HomeTeam Inc
Our Website: Greensboro Real Estate - Winston Salem Real Estate - High Point Real Estate
Toll Free: 866-220-6458
Brad's Cell: 336-909-1293
Angie's Cell: 336-909-2638
Fax: 866-233-4314
Email: Brad.Lawrence@ERA.com
Our BLOG
We serve the Whole Piedmont Triad Area!
Buyers - Sign up for your own FREE MLS search account
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It has been the host of Bassmaster Tournaments, including the Bassmasters Classic in 1994, 1995, 1997 and 2007. Much of High Rock Lake is lined with privately owned homes.
The lake has no restrictions on boat motor size and personal water craft are legal for use.
Here are some links about High Rock Lake....
Click here to -> Join ActiveRain NOW!
Click here to -> Subscribe to our blog (Must be ActiveRain member)
Brad and Angela Lawrence - Brokers/REALTORS
Multi-Million Dollar Producers
ERA Premier Realty
NC HomeTeam Inc
Our Website: Greensboro Real Estate - Winston Salem Real Estate - High Point Real Estate
Toll Free: 866-220-6458
Brad's Cell: 336-909-1293
Angie's Cell: 336-909-2638
Fax: 866-233-4314
Email: Brad.Lawrence@ERA.com
Our BLOG
We serve the Whole Piedmont Triad Area!
Buyers - Sign up for your own FREE MLS search account
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