About Forsyth County, NC

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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River Birch Lodge in Winston Salem NC

When the River Birch Lodge in Winston Salem opened a couple of years ago, there were only one or two destination restaurants in "our neck of the woods" which is the Mt. Tabor community at Robinhood Road. Definitely no others that offer the camaraderie you'd expect from a "GREAT BAR" coupled with a "GREAT DINING ROOM" with a wide choice of excellent entrees and wine selections, all under the same roof.

One of our local paper "restaurant columnist", wrote about the River Birch Lodge when it opened. She kept repeating throughout her article, that is was a very "Manly Restaurant." We all assumed she was thinking of the "big, massive wood beam construction," designed with a "Mountain Lodge" theme. The canoe mounted to the wall with an assortment of paddles, might suggest a manliness decor, especially when you mix in the Rock Fireplaces and vast open spaces. You really can imagine yourself dining somewhere in Wyoming or at a Lake Tahoe ski resort, to be sure. The mood inspires you to order the "Campfire Trout" entree. It is as though the trout were just caught in the river out back...as if there were actually a river "out back"! That's the feeling you get, though, sitting in "The Lodge".

The main dining room is nearly two stories high rising together in the center. At that center point, hangs a one-of-a-kind chandelier from the vast wooden ceiling. The main rock fireplace is impressive in itself. And in the wintertime, when the "over sized" gas logs are burning, it just completes the entire setting!

The bar is to the left of the dining room and is quite large, with tables and stools and can accommodate a fairly large crowd. We've had several fun birthday parties, celebrations of the ballgames from Wake Forest University as well as just getting together to catch up with friends and family.

The Owner/Operator of the River Birch Lodge is Eddie Schapira, who is a graduate of Appalachian State University, so naturally there is a likeness of the Mountaineer mascot hanging behind the bar. Since Wake Forest University is only a mile or so from the River Birch Lodge, and one of the managers, Reid Nance, is a Wake Grad, there's another mascot, the Demon Deacon, hanging there too! Sports telecasts are generally playing on the two high-deft flat screens for the fans to enjoy over their favorite brew.

The menu at the River Birch Lodge is varied, and most guests will find something that fits their mood at any time. My favorite "light meal" is the Lodge Garden Salad with their Cilantro-Lime Ranch dressing for $5.95. It's always served highly chilled, with a good variety of fresh greens! Mix that with a unique selection of appetizers such as the New Zealand Green Lipped Mussels or Adobe Chicken Quesadilla, and call it "my choice tonight"! However, do not make that a habit. You have to dine on the great variety of entrees... from Venison Medallions to Cedar Planked or Hickory Grilled Salmon to Baby Back Ribs to Fillet Mignon, Ribeye or Hanger Steak, to Pork Tenderloin or "Mama's Lasagna" (enough for next day's lunch)...Is your mouth watering yet? I can keep going??...

A word for the traveling public: "If you are visiting the area on business or pleasure, don't settle for "room service".... Come on over to the River Birch Lodge alone (or with colleagues), dressy or casual. The bar (and restaurant) is respectfully friendly and you will not feel alone. It's impressive, but not intimidating, ...a thoughtful place to meet your clients as well.

Duck Pizza?! It is out of this world! I go to the River Birch Lodge often, and sometimes meet my niece and her husband there for dinner. He has always ordered the "Duck Pizza"! For the longest time, I could not imagine Duck on a Pizza. So, recently I ordered one myself. WOW! I couldn't get enough...I ate the entire pizza, which for me is saying ALOT!. That's the thing about the River Birch Lodge. They are so creative with all their offerings, that you've just got to try it!

One Basic Comment: Everything is Fresh and cooked to order at the River Birch Lodge!

Eddie Schapira is the owner/operator and his presence is always known, which is a rarity in many restaurants. He and his two managers, Reid Nance and Peter Mikeal, are checking out the "satisfaction factor" with all their guests. Eddie makes you feel like "Family." He will usually call you by name and is so enthusiastic about seeing you each and every time. The bartenders, Dave (in the photo) and Paul, are very friendly...and just like in the song, "we all want to go, where everybody knows your name".... and most times, they will recall your favorite cocktail, beer, or wine too! How refreshing to have such a place in any town.

I can't quit, without telling you about one more thing that is famous at the River Birch Lodge. Every other month or so, the River Birch Lodge hosts a 3-5 course special dinner featuring "A Pairing of Wines" with the different courses served. You can make a reservation to join others to form a group of 10 to 20 people for a special evening of delightful foods with the design to have you enjoy tasting those wines that enhance that particular course. How great is that! And many of these evenings will include the highly entertaining magician, just to keep things rolling along! It's also a great way to meet new people and network!

To see their entire menu and to sign up for their newsletter visit the River Birch Lodge Website. The E-newsletter is not ordinary. It is worth getting. Be sure to tell them your "Birth Date", as they will send you a special invitation each year with a free desert award to celebrate your birthday with them.

Often, I purchase a gift card from the River Birch Lodge to give to my Buyer Clients as well as Seller Clients. It's a heartfelt "thank you" for selecting Park Place Real Estate as their company of choice for their real estate needs. Their feedback has always been superior and I can trust the management and staff of the River Birch Lodge to live up to my expectations of what appreciation means.

If your office is hosting a working lunch and need food brought in, check out the River Birch Lodge Box Lunches and Lunch Platters. For Sunday Brunch, you cannot find better food and enjoyable staff!

The River Birch Lodge is located at 3324 Robinhood Road off Silas Creek Parkway and easy to find using this MAP . Reservations can be made by calling (336) 768-1111. So check it out! Tell them "Doug" Sent You!

I would enjoy hearing your feedback and comments!

Dell came to Forsyth county back in 2005 with the agreement it would create 1700 jobs within 5 years of the plant opening. Forsyth county and city of Winston-Salem paid $$$ of incentives to Dell for opening a plant in Forsyth county.

Then Dell announced in October 2009 that they would close their plant starting as early as next year 2010. Which is not so good news for the job situation in the Piedmont Triad.

I guess only one positive that has come out of this, Dell has sent a letter to Winston-Salem and Foryth County leaders confirming that they will repay $26.5 million in incentives.

The Buyers Credit Deadline is approaching as trick or treat draws near. Escrow or contract times generally are around 30 days for homes and with the moving target of loans plenty of lead time is needed.

For homes in Kernersville NC there are 441 Active Listings with 113 Pending. There have been 43 closed homes in the past 30 days. This shows an increase in home contacts for this area and a larger than normal ratio of active to pending homes.

As crunch time draws near for buyers of homes there is a sense of conservatism brought on by fears of lay offs inflation and media scares. The response is a generic one of everyone needs a place to live and the discipline of fiscal responsibility is always good to practice.

Kernersville remains a great place to live, work and own homes.

Visit Kernersville NC for additional information at www.RealEstateWorkHorse.com or www.BonnerTCR.com

Have you ever thought about investing in real estate?
Investing in real estate is a long-term investment opportunity. In this shifting real estate market, you may be able to purchase investment real estate that will secure your financial goals for the long term. We have clients that are able to buy homes on a credit card! There are some great deals on the market today for building long term wealth. The ticket to this market is having good advice to help you make smart moves!

I keep a current list of "Investor Best Buys" that I would like to share with you.

Investing in real estate may not be the right fit for you today, but we won't know for sure until we sit down to discuss it.

We can help you flip homes (yes even in this market we are doing it), develop or grow a rental portfolio, or just buy a home to live in that will yield a nice return on investment down the road. Check us out at www.TheCarolinaCrew.com