Havelock, NC

Thousands of people traveled to Havelock, N.C. for the 29th Annual Havelock Chili Festival October 16 and 17th. As our first major cold front of the year pushed through the area, keeping daytime temperatures in the mid 50's, it was chili eating weather.

Havelock is the" Gateway City" that starts at the front gate of MACS Cherry Point, and active, retired military, civilians both young and old came together for the food and events. This annual event is a big draw for family fun and is very affordable for the family budget.

For more details on this community fund raiser for local charities go to http://homer56.wordpress.com/2009/10/18/havelock-n-c-chili-festival-draws-record-crowd/

The last couple of "first time home buyers" that have contacted me did not really understand that they don't have until December 1, 2009 to take advantage of this potential 10% discount on a home. If they buy a $80,000 home they could get up to a $8,000 tax credit on that purchase.

In our area most lenders are recommending that we give everyone 45-50 days to "CLOSE" the purchase. If we figure 30 days per month and subtract 50 days from November 30, we end up with the first week of October as the "beginning of the end". If buyers have not submitted an offer to buy a home and started the loan process and the inspection process, there is a strong possibility that they won't be able to close by November 30. It's my understanding as of today this program will end and there is no extenstion at this time.

I know we are all being bombarded by "Cash for Clunkers" and "Health Care Reform" but I really don't think the potental market for the $8000k tax credit understand time is running out.

There is a video clip on my website www.CherryPointRelocation.com that discusses the end of the tax credit and how to plan for action now. Military families using VA loans need to act now as well.

I commend the goverments effort to inform the public about the switch to digital TV from analog, remember how many ads you saw about the dead line? Where is the urgency from the media, the goverment and the REALTORS about our deadline?

Let's let everyone know, that time is indeed short!

The Walter B. Jones Park in Havelock will be the site of a Military Family Appreciation Day on July 18, 2009 from 2 p.m. to about 6 p.m. This annual event is sponsored by the Victory Chapel of Havelock. This is the 4th event the church has organized.

According to Pastor Gary Monnens, the family oriented event will have something for everyone including games, food, music and fun.

PEDRO will be there as well as working military dogs. You can see the classic car show and participate in various drawings.

A presentation honoring military families is scheduled at 4 p.m. Various bands will perform starting at about 4;30 p.m.

Food tickets are 4 for $1.00 and you can get hot dogs, snow cones, cotton candy and drinks at very affordable family prices.

Proceeds from the car show and the gas grill raffles will be donated to the "Wounded Warriors" fund.

Last year over 600 people were in attendance and this organizers are planning for a larger crowd.

Come and enjoy the fun and fellowship with your neighbors and friends. The public is also invited to this tribute to our military families.

In my opinion the biggest risk for home buyers in 2009 is the failure to take advantage of the 2009 First Time Home Buyers Tax Credit. This program could have had other provisions included to help our clients navigate this challenging time in our economic cycle, however it still has a lot to offer individuals and families that can qualify.

1. Up to $8000.00 or 10% of the purchase price of a home for qualified buyers.
2. Very limited repayment conditions, i.e. own for 3 years, anti-flipping clause.
3. Income limits of $75,000 single and $150,000 joint filing incomes so lot's of people can qualify
4. Easy way to claim the credit IRS form 5405
5. Aimed at home ownership, not speculation. Owner occupied only, in the U.S.

My concern is that in North Carolina it seems that loans are taking longer to process due to re-fi's and more banking oversight due to sins of the past. I hear that 40-45 days is now becoming more common to take a loan to closing.

Several things should be addressed with the potential first time home buyer:

1. The deal must close by November 30, 2009 to get any credit as the bill is now written
2. If it takes 45-50 days to close they can't wait until November 1 to see what the economy will do
3. Every 1% rise in interest rates reduces purchasing power by 10%
4. The best homes always go first
5. Sellers may be less reluctant to make concessions it they believe a turn around is building.

We as licensed, real estate professionals must be able to perform as the "trusted" advisors to the First Time Home Buyer's and help them achieve the dream of owning their own home. Are you up to the task?

Money from the government! Yes that's right. If you have not purchased a house in the last 3 years you could be entitled to some money from Uncle Sam.

With the lowest interest rates in years and the tax stimulus it is a great time to buy a home.

There have been a lot of misconceptions about the new house stimulus package. The information that I have is that you will receive 10% od the cost of the house from the U.S. government.

Currently there are many homes to choose from or locations on which to build. Considering all these factors; loan rates, tax bonus, and current selections of homes it appears to be a good time to invest.