Linda Trevor, ABR, CRS, ePRO, CHLMS, PMN

Interested in understanding how to increase your first time home buyer tax credit (FTHB) by $2000.00? Here is information how you can claim up to $10,000 in tax credits your first year of home ownership and up to $2,000.00 every year after.

Through the efforts of the Recovery Act, a first time home buyer has the potential to qualify for another $2000.00 tax credit by applying for the Mortgage Credit Certificate (MCC). This program is serviced by the North Carolina Housing Finance Agency.

This credit is for first time home buyers only, which means no home ownership in the past 3 years by the applicant. If you are married, both spouses must meet this requirement. This certificate will allow you to claim a portion of your mortage interest as a credit against your tax liabilities. This a huge savings over the length of your loan. Think about it!!

Here are a few highlights:

There are income limits to the MCC .
You can qualify for the MCC and not the FTHB tax credit.
The maximum amount you can get a year is $2000.00.
You can claim 20% of the interest you pay on your mortgage as a credit on your federal income taxes.
This a dollar for dollar tax credit.
Only a certified NCHFA Lender can assist you with the application and certificate.
You must apply before you close on your first home!

For more information on the is tax credit visit: North Carolina Housing Finance Agency

Greater Raleigh and its suburb Cary tops the list as the #1 fastest growing metropolitan area in the country. Surpassing the national growth average of just under 1 percent, our region grew by 4.3% with almost 1.1 million people calling Wake, Johnston or Franklin counties home. The Chapel Hill - Durham area did not make the top ten but its population continued to grow with a 2.5% increase from July of 2007 to July of 2008.

Click here for the full story from Forbes

Listing homes these days is quite a challenge with the current market conditions, the ever-increasing inventory, the very optimistic buyers :-), and the all-too-stressed seller. Many Sellers have had experiences in the past where their homes only took 2-3 weeks to sell but those days are on hold right now and what worked in the past in getting the home sold now requires more attention than ever. When the home goes on the market, it simply has to say "WOW" when the buyer walks in the door and not "this will need WORK." Trust me, the extra time or dollars spent repairing and staging is truly cutting the days on market. We have had Sellers willing to make the needed changes to take an average, nice home to the next level. We recently had a home in Cary, NC go under contract in 5 days! The Sellers worked down the list, made the recommended changes, and even replaced the driveway that was an eye sore. Their work paid off and they WOWed their buyer! On closing day, they felt WOWed too that it didn't take 30, 60, 90 days on the market for them to pursue their new dream home. So...encourage your Sellers to WOW up their homes and WOW their buyers!

Here are the summary details for the First Time Home Buyer Tax Credit:

• Maximum credit amount of $8000.00
• Any single family residence including condos, co-ops, and townhouses can be used as the principle residence.
• Buyer can get refund for unused credit amount when tax return is filed.
• First Time Buyer only.
• Buyer can use North Carolina Housing Program Funds in conjunction with tax credit (see an approved Lender for details).
• Credit does not have to be repaid if home is purchased between Jan 1-Dec 1, 2009
• If home is sold within 3 years of purchase, entire credit amount must be paid back. Applies to homes only purchased in 2009.
• Tax credit ends December 1, 2009.
• For additional details, visit this site.

Linda Trevor, a RE/MAX UNITED Cary REALTOR^® , has been awarded the 2008 Member of the Year Award by the North Carolina State Chapter of the Women's Council of REALTORS^Ò(WCR). This annual award recognizes a REALTOR^® member who fully exercises their potential as an entrepreneur and real estate industry leader; and who shares their time, talent and expertise with others in the profession and in the community.

"Linda is an inspiration to myself, and all the members of the WCR here in Raleigh. Her professional, positive and supportive attitude makes her a role model for all of us, and her tireless work has been instrumental in the growth of our group." - Louise Griffin, 2009 Women's Council of REALTORS^Ò President, Raleigh Regional Chapter.

About WCR
Women's Council of REALTORS^® is a nationwide community of 18,000 real estate professionals in 300 chapters who include many of the best and brightest in the business. The North Carolina State Chapter is a local source of education and business tools focused on the needs of women REALTOR^®entrepreneurs at all stages of development. WCR is an affiliate of the National Association of REALTORS^®and is headquartered in Chicago, IL. For more information on WCR, please visit WCR.org.