About Forsyth County, NC

The following numbers are the New Listings/Current Actives for Oct 2009

Source - Triad MLS

County	New Listings	Current Actives
Guilford	845	4158
Forsyth	577	3252
Davidson	180	1173
Randolph	124	749
Davie	66	416
Stokes	43	293
Surry	47	427
Yadkin	21	145
Alamance	87	361
Rockingham	74	491

The following numbers are the sold homes in each county for Oct - 2008 vs 2009

Source - Triad MLS

County	SOLDS Sept 2008	SOLDS Sept 2009
Guilford	403	303
Forsyth	268	258
Davidson	101	80
Randolph	56	50
Davie	21	30
Stokes	29	19
Surry	26	23
Yadkin	2	15
Alamance	34	24
Rockingham	45	28

NEW TAX CREDITS AVAILABLE FOR HOMES FOR SALE IN WINSTON SALEM NC

The President will be signing into law the new First time homebuyers AND Existing homebuyers tax credit stimulus! The National Realtors Association has been vigorously pushing for an extension of this much needed boost to the housing market, because in recent months, the growth in housing sales throughout the country has been viewed as one of the most positive steps in our overall economic recovery.

The $8,000 first time homebuyer tax credit for Homes for Sale in Winston Salem was due to expire on November 30th!

Eligibility of First Time HomeBuyers is the same as before, in that they can not have had an interest in a principal residence for 3 years prior to purchasing. The tax credit is the same as before, $8,000 for a married couple filing taxes together. If filing separately, it is $4,000.

Eligibility for Current Homeowners is that they must have used the home as their principal residence consecutively for 5 of the previous 8 years. Income limitations are $125,000 for single persons and $225,000 for married couples. The tax credit is $6,500 for a married couple filing together. If filing separately, it is $3,250 for those couples.

If the buyers income exceeds these limits, some buyers may still be eligible for the credit.

According to the National Association of Realtors, "...the credit decreases for buyers who earn between $125,000 and $145,000 for single buyers, and between $225,000 and $245,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income - over $145,000 for singles and over $245,000 for couples - are not eligible for the credit."

The only "home price" limitation placed on this extended Tax Credit, is that the home purchase price must be less than $800,000.

To learn more about the affect these tax credits have on our national economy please watch this video presented by the National Association of Realtors. Bear in mind that, although the mumber of "home sales" are down in our area, "home values" have remained relatively strong in homes for sale in the Winston Salem and the greater Triad Region, as compared with many other regions, nationally.

MKT Real Estate Group, comprised of John McPherson, Jr., Angela Kalamaras and Wendy Taylor, received the 2009 North Carolina Home Builders Association’s STARS Award for Best Special Marketing Project. They were honored for MKT Real Estate Group’s Real Estate Radio, creatively promoting their company and educating consumers through radio. STARS awards were presented at the STARS Awards Gala in Charlotte September 15 at the North Carolina Home Builders Association annual conference.

STARS is an awards program of the North Carolina Home Builders Association which honors the achievements of home building industry professionals. Winners receive recognition in categories such as marketing and advertising, web design, landscape design, interior merchandising, architecture/floor plans and special projects.

MKT hosts Real Estate Radio every Saturday morning from 9:00 to 10:00 a.m. on WSJS 600/1200. It is a live call-in show that has been very successful in allowing them to share their real estate views, experience and knowledge with the public.

MKT Real Estate Group has over 30 years of real estate experience in both residential and commercial real estate collectively. Since the formation of the team, MKT has received the following awards: Coldwell Banker International Diamond Society Team, Coldwell Banker International President’s Elite Team, Top Producer for Closed Listings and Top Producer for Closed Revenue Units for the Winston-Salem Branch. You can reach the members of MKT at their office in the Winston-Salem branch located at 285 S. Stratford Road by calling 336-441-1001 or visiting www.MKTreg.com

“Our team shares the values and beliefs that make us successful in the real estate world and in our community. Giving back to our community is very important to Coldwell Banker Triad, Realtors and MKT,” said Kalamaras. McPherson, Kalamaras and Taylor are involved in a number of local organizations including the Winston-Salem Board of Realtors, the Winston Home Builders Association, Winston-Salem Chamber of Commerce, Forsyth County Humane Society, Habitat for Humanity, Winston-Salem/Forsyth County School System, Winston-Salem Downtown Partnership, Make a Wish Foundation, Ronald MacDonald House of Winston-Salem and the Piedmont Club Membership Committee.

“The Winston Salem office of Coldwell Banker Triad is very proud to have such a hard working, imaginative sales team in our office. John, Angela and Wendy are a pleasure to work with and always give excellent service to their clients. Way to go, MKT!” said Carol Hudson, Winston-Salem Branch Manager.

"John, Angela, and Wendy exemplify the creativity and commitment necessary to offer outside the box advice to their clients. This sets the tone for success in a difficult market and positioning for growth as we move to a stronger economy." Jodi Tate, CBTR General Sales Manager.

Surveys For Existing Homes For Sale In Winston Salem NC

Have you heard anyone make these types of statements... "I don't need to have a Survey done for an existing home where no road changes have been made in 25 years!" Or, "It's a waste of good money that I could apply towards the down payment!" And this one, "Title Insurance will protect me!"

The awful truth is, a Surveyor should be hired in most all cases where real estate ownership is changing hands. A survey is a small price to pay for the peace of mind when purchasing a home for sale in Winston Salem, in order to avoid law suits and long, sleepless nights. Your REALTOR® can point out to you, as a prospective buyer, that encroachments across property lines may have occured since the last survey. This problem can result in lawsuits and render the involved properties unmarketable until corrections are made.

Even overhanging eaves encroaching above ground in homes for sale in Winston Salem, or driveways between neighbors can result in problems when surveys are not completed. A survey can prevent these issues from becoming "neighbor problems" as well as "marketing problems" when it's time to sale. Who wants to live beside neighbors that can't get along or having the opportunity to sell and can't, because of issues that could have easily been avoided with a survey.

Some issues can possibly be covered with title insurance, but usually the coverage will not protect the buyer unless a survey was performed prior to the policy being issued. According to the N. C. Society of Surveyors, Inc., there has been the practice of having the seller sign an affidavit stating that if problems arise because a survey has not being completed, that the buyer will be protected. But this has brought on more problems than it has solved, because sellers may be accepting some liability unknowingly.

One client suggested he would just rely on the previous survey completed for his home for sale in Winston Salem. But what if that survey didn't take into account changes that had occurred since an earlier survey was completed?

It's the smart Real Estate Agent who points out all these potential problems to his or her client. If the client still is not convinced, have their lender tell them about lawsuits they've seen or even participated in, where a survey was not ordered early on. If the decision is still made not to order a survey, for whatever reason, the documentation should be shown on the Professional Services Disclosure form, as declined by the client.

This particular peace of mind for a seller who has a home for sale in Winston Salem and a potential buyer, cannot be achieved from any other method other than to hiring a surveyor.

I am a REALTOR® in the Winston Salem and greater NC Triad locations. If you are considering Buying or Selling real estate in the near future, or have real estate questions, I would be happy to help you. Please contact me by calling (336) 710-1108 or Email me!

PARK PLACE REAL ESTATE

First Time HomeBuyers tax Credit

Most people will agree that the housing market problem has been a significant problem because of the greed on Wall Street and big business.   It's still in the news everyday.  The $8,000 First Time HomeBuyers Tax Credit has been a tremendous help in bringing the economy back around.  You hear on CNN, MS NBC, and other news services different percentages every week as to what the First Time HomeBuyers Tax Credit has accomplished.  The popular tax credit, which has helped lift the housing market out of its worst slump since the Great Depression, is set to expire on November 30.  Many of us talking with clients have heard expressions such as... "My chances of getting a loan are like a Snowball in "You Know Where!"

Today, I received a notice from one of our most respected Senior Mortgage Bankers in our area, Ann Tucker of Starkey Mortgage, where she pointed out from Washington (Reuters) news, that "top Democrats in the Senate have reached an agreement to extend the soon-to-expire $8,000 tax credit for first-time HomeBuyers.  "We have that. Done,"Senator Dodd told reporters.  GREAT NEWS for first time HomeBuyers.   But what about other home buyers?

 

It appears that the agreement not only would extend the existing credit for first time home buyers,  but would also offer a new credit of up to $6,500 for some existing homeowners.  That tax credit could help "all home buyers" who have been in their current residence for a five year, consecutive period, during the past eight years. 

These new provisions will prevent this tax credit to be used by real estate investors, since it requires the buyers to actually live in the home.  It's apparent intent is to broaden the availability of the credit beyond first time home buyers,  and continuing to give the real estate market, as a whole, the necessary boost still needed.

This new tax credit would begin December 1, the date the old credit expires, and applies to all real estate contracts "entered into by April 30th".  Those contracts would then need to be closed before July 1, 2010. ...AND, you have to remain in your new home for a minimum of 3 years, or pay back a portion or all of the tax credit received if you move prior to 3 years.

The Wall Street Journal has reported that the tax credit would apply to buyers with an income of up to $125,000 for single persons and $250,000 for couples.  That's much higher than the current income limits of $75,000 and $150,000. 

One question has always been on my mind ever since the first time HomeBuyer tax credit housing was started.  That question is ...How do the reduced taxes affect the government's ability to collect enough taxes to pay for all the things we are doing just now (two wars, etc etc)? 

The answer came from a Bloomberg report from the Joint Committee on Taxation.  They estimate that the revised HomeBuyer tax credit will cost $10.8 billion over 10 years.  Those costs would be offset by provisions delaying a tax break for "multinational companies" that will be effective in 2010.  The conclusion was made that this tax credit bill wouldn't add to the government's budget deficit. 

My hopes and prayers go to our leaders in government for wisdom and cooperation in solving these complicated issues and keeping their promises they've made to us all.

I'm a REALTOR® in Winston Salem and the Triad, North Carolina.  When you need help with Real Estate questions, I'm here to help you.  I may not know all the answers, but I will certainly research them, to get answers to your questions.   That is "my promise" to you, whether you're a first time Home Buyer or looking to sell and then buy a new home. 

  Call Park Place Real Estate or email me for information.

I specialize in working with First Time Home Buyers! 

Check out this Step-By-Step First Time Homebuyer  video!

 

 

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