Jeff Craig Broker, Realtor, CSP

From today's Greensboro news & Record

Now that the extended and expanded tax credit bill for homebuyers has been passed by Congress and signed by President Obama, more people are seriously considering buying a home or selling their residence.

A quick review of the new tax credit law:

Instead of terminating on Nov. 30, the $8,000 credit for first-time homebuyers was extended to April 30, 2010. It is effective for home sale contracts entered by April 30 and closed by June 30.

Also, the new law expands the tax credit incentive to include a credit of up to $6,500 for owners of existing homes who are purchasing another principal residence. To qualify, they must have lived in their previous home for five consecutive years out of the last eight years.

The annual income eligibility limits to claim the full credit amount for both groups of homebuyers has been raised to $125,000 for individuals and $225,000 for married couples.

"The tax credit has proven to be a powerful economic incentive," said Joe Robson, chairman of the National Association of Home Builders. "The action by Congress to extend and expand the credit will further stabilize housing and the economy by creating new jobs, stimulating home sales, reducing foreclosures, cutting excess inventories and stabilizing home prices."

NAHB estimates that the extended and expanded tax credit will create 211,000 jobs and generate 180,000 additional home sales in the coming year. It is also expected to generate $9.6 billion in wage income and $6.9 billion in federal, state and local taxes.

Carolyn Warren, author of the new book, "Homebuyers Beware" (published by FT Press), also takes a very positive view of the new tax credit law.

"I believe giving the housing industry this shot in the arm will help counteract the economic damage from new foreclosures that are on the horizon for 2010. When more people buy homes, it's not just the banks and Realtors who benefit, but also home appraisers, home inspectors, decorators, painters, landscapers, furniture and appliance stores, even down to the pizza delivery guys - all benefit. And when all these folks have money to spend, that helps the economy as a whole," she said.

Carolina 'Shine Fest, Madison NC, Nov. 21 & 22

Tour the only legal distillery in North Carolina: Piedmont Distillers. See and learn how and authentic Moonshine Still works. Meet NASCAR Legend Junior Johnson. Music by Matt Stillwell, Holy Ghost Tent Revival, Local Blues Legends & More.Junior Johnson's Midnight Moon and Catdaddy Moonshine Cocktails.Largest Collection of Authentic Bootlegging Cars; 7 Generations of Stock Cars.NC BBQ & other tasty Treats.Visit www.Carolinashinefst.com for more informationFree Admission & Parking

Festivale Italiano 2009
Sunday, November 8, 2009 from 12:00pm - 6:00pm

The goal of Festivale Italiano is to embrace the entire Greensboro community and to provide food, activities, education, art, and atmosphere that is truly Italian. This is our opportunity to step forward to celebrate a wonderful culture and a very important segment of our community! Authentic food, drink, music, art, education, bike ride, games - everything Italian will be celebrated.

Downtown residents will certainly want to open their windows to catch the wonderful aroma as local restaurants prepare food for the day, listen to the traditional Italian music and entertainment, and to feel the excitement as hundreds of families fill the streets of downtown Greensboro on this Sunday afternoon!

It's time for a change. Who knows what it will bring for me.

After three years as a sales and marketing manager for a custom builder, I'll be leaving the company this week. It's really a mutual decision, that we both regret, but know is necessary.

I don't care how much the President and those in power in Washington claim the recession is over, it just aint so! But, I truly believe the next year will be better for home sales.

I will likely get back into general brokerage and try to represent several builders. With so many leaving real estate over the last year, I think it's actually a good time to get back into it. I also believe all the people who have put off buying new homes over the last year or so, will feel more confident about the economy and decide it's time to make that big move.

So, I'm a little sad at leaving a company I enjoyed working for, but look forward to new opportunites and a brighter future for all of us.

There are some local builders in my area that have been building custom homes for years. When I moved here twenty years ago, they already had reputations as the best builders in town. Fast forward twenty years and they are still here and still have the reputations and high brand recognition.

Well, it's not always deserved. One of these builders still gets a big chunk of the local business, based mainly on reputation. That would be great if he deserved it. Now please don't go thinking I just have a case of sour grapes because I'm not getting that business. OK, maybe just a little :-) But, time after time, especially during the annual Parade of Homes, I have people going through our spec homes telling me how much better the quality of our construction is and how our attention to detail is so much better. Frequently the other builder's homes are priced several hundred thousand dollars higher than ours.

So, the general perception is that they are still the best builder in town, yet it just may not be the case any more. I would never bad mouth another builder when dealing with a potential client. But, how does one change those perceptions? I suppose that good marketing comes strongly into play here. How does any business get the word out that they are just as good , if not better at what they do. I welcome your comments and suggestions.