Alexis Muegge

According to an article posted on MSNBC, Jacksonville NC, home of Camp Lejeune and it's Marines, has been determined to be the most recession resistant city in the country!

Experts say that some industries, such as health care and the military, have historically been less susceptible to the ups and downs of the business cycle. The military in our community has been credited with providing the stability to our local economy that helps us to fight off this recession.

To view this article, go to: http://www.msnbc.msn.com/id/30216797/

We thank the Marine Corp for many things, our freedom, our security, and now our economic resilience. Thank you for all that you do!

It's that time of year again! It's time for the annual Downtown Going Green Festival!

Bettering Our Local Downtown (B.O.L.D.) and EXIT Homeplace Realty invite the community to a celebration of good "clean" fun for the entire family! This year's festival will be held on Saturday, March 21st from 11am - 6pm on New Bridge Street.

Among the festivities this year, there will be:

• A fire department puppet show
• Hwang's Tae Kwon Do Demonstration
• Moonbounce & Face Painting
• Pamlico Joe
• Port City Pipes & Drums
• The Tae Kwon Do Academy Demonstration

There will also be some great food vendors & restaurants, including:

• Hawaiian Kine Shave Ice
• International Order of Rainbow Girls
• NCOA Knights' Wagon
• Southern Concessions
• Enchanted Garden
• Hayes Cooking & Catering
• Shirley's V-Bar

While you're here in Downtown Jacksonville, be sure to drop by our EXIT office here at 603 New Bridge Street. We will be handing out some goodies, and selling raffle tickets for multiple prizes, with all of the proceeds going to the Onslow County Women's Shelter. And if you're contemplating buying or selling a home, just let me know, and I'll help you in any way that I can!

Remember, Downtown Going Green is the place to be in Jacksonville NC!

2009 is going to be a great year for first-time home buyers! When President Obama signed the American Recovery and Reinvestment Act into law in February, it put into place 10 key privisions, one of which is the First-Time Homebuyer Tax Credit.

One might ask what this means for buyers in the Camp Lejeune area, so here's a breakdown of what you should know:

• The First-Time Homebuyer Tax Credit has been expanded to $8000 or 10% of the purchase price of your home, whichever one is less.
• It is a refundable credit! For example, if you are getting a tax return, the amout will be added to your return. If you owe money, the amount will go to pay down what you owe. Any money left over will be payed to you.
• The credit is for homes that are purchased after January 1, 2009 and before December 31, 2009.
• The credit is only for first-time home buyers. A first-time home buyer is defined as someone who did not own another main home at any time during the three years prior to the date of purchase.
• It must be used on your primary residence, investment properties are not eligible.
• If the home is sold less than three years from the purchase date, the credit must be repaid.

As The Starter Home Specialist for Jacksonville NC, Richlands NC, Hubert NC, and surrounding areas, I am ecstatic about this news! It's great for both buyers and sellers! Buyers are heartily rewarded for their investment, right off the bat, and sellers should be seeing more buyers coming into the market to take advantage of this fantastic incentive.

If you are thinking about buying your first home, but you want more information before jumping in, please feel free to contact me. I am prepared to answer your questions, and hopefully find you a home!

If you want to look into selling your home, call or email me, and we can further discuss how this credit could impact the sale of your home.

I look forward to your questions, comments, and feedback!

Now that I have covered what exactly a VA loan is, and what the uses and eligibility requirements are, I am going to tackle the last in my series of VA blogs. What about the appraisal and closing costs?

Every loan that is guaranteed by the VA must be appraised by a VA-assigned appraiser. The appraisal is traditionally requested by your lender using the online portal of the Department of Veterans Affairs. Once their request has been submitted the VA will select an approved appraiser, at random, to perform your appraisal.

A VA appraisal is only an estimate of the value of the property, and makes no representation or guarantee as to the condition of the property. However, there are certain issues that could affect it. To pass a VA appraisal, the home cannot be in disrepair. There cannot be any safety issues, and it must be livable and in decent condition. If an appraiser notes that certain repairs need to be completed in order for the home to be considered in decent condition, the seller can arrange to have the repairs done and have the appraiser come back out after completion to re-inspect. Like most appraisals, the cost can run anywhere from $300 to $400.

There are many costs paid at the closing table, including title search and recording fees, insurance premiums, prepaid taxes, etc. When you go to pay these closing costs, the payment must be made in certified funds.

In addition to the traditional costs, all veterans, with the exception of those receiving disability from the VA and unmarried widows of veterans who died in service, are charged a VA funding fee. The fee is a percentage of the purchase price and is traditionally rolled into the loan amount.

If closing costs are a concern for you and your family, do remember that you always have the option of requesting that the seller pay some, or all, of your closing costs. The seller's willingness to do so may depend on many different factors, so it would be best to consult with your real estate agent once you find a home that you like.

I hope that you have found this blog series to be helpful and informative, and I hope that you will come by again to check out my future blogs. Happy home hunting!

Living in Jacksonville NC, and working as close as I do to Camp Lejeune, Camp Johnson, and Marine Corp Air Station New River, it makes sense that a vast majority of my clients are military or prior military. In my experience, every military person knows that they have access to a VA loan. However, to my surprise, they are not always told exactly what a VA loan does for them or how it works.

In response to this need, I have decided to do a series of blogs about VA loans, what they are, and how they work for you. The first thing that I will discuss is:

• What is a VA loan?

The VA loan began in 1944 through the GI Bill of Rights. This provides veterans with a federally guaranteed home loan with no down payment. VA guaranteed loans are made by approved lenders, like banks or mortgage companies, to eligible veterans for the purchase of a primary residence. The guarantee of a VA loan means that the lender is protected against financial loss in the event that the borrower fails to repay the loan. It replaces the protection that lenders would normally have by requiring a down payment. Essentially, this allows you to get a loan with no down payment, and often with a better interest rate.

Are you thinking about buying a home? If so, please feel free to contact me with any questions that you might have or find more information on my website at www.AlexisWithEXIT.com.