Nogui Aramburo - Bilingual Durham

To everyone who wasn't in a position to take advantage of the First Time Home Buyer Tax Credit, you get another chance!

Which means you can buy a home, furnish it and put a little money away for a rainy day!

Other good news; the credit has been expanded to include current owners who are looking to purchase a second home or are looking to move into another home.

In order to qualify for the credit, all contracts need to be in effect no later than April 30, 2010 and close no later than June 30, 2010.

What is a tax credit? A tax credit is a direct reduction in tax liability owed by an individual to the Internal Revenue Service (IRS). In the event no taxes are owed, the IRS will issue a check for the amount of the tax credit an individual is owed. Unlike the tax credit that existed in 2008, this credit does not require repayment unless the home, at any time in the first 36 months of ownership, is no longer an individual’s primary residence

First-Time Homebuyers: First-time homebuyers (that is, people who have not owned a home within the last three years) may be eligible for the tax credit. The credit for FTHBs is 10% of the purchase price of the home, with a maximum available credit of $8,000. Single taxpayers and married couples filing a joint return may qualify for the full tax credit amount.

Current Owners: The tax credit program now gives those who already own a residence some additional reasons to move to a new home. This incentive comes in the form of a tax credit of up to $6,500 for qualified purchasers who have owned and occupied a primary residence for a period of five consecutive years during the last eight years.

How Much are First-Time Homebuyers Eligible to Receive? An eligible homebuyer may request from the IRS a tax credit of up to $8,000 or 10% of the purchase price for a home. If the amount of the home purchased is $75,000, the maximum amount the credit can be is $7,500. If the amount of the home purchased is $100,000, the amount of the credit may not exceed $8,000

Who is Eligible fort FTHB Tax Credit?
Anyone who has not owned a primary residence in the previous 36 months, prior to closing and the transfer of title, is eligible.
This applies both to single taxpayers and married couples. In the case where there is a married couple, if either spouse has owned a primary residence in the last 36 months, neither would qualify. In the case where an individual has owned property that has not been a primary residence, such as a second home or investment property, that individual would be eligible.

How Much are Current Home Owners Eligible to Receive? The tax credit program includes a tax credit of up to $6,500 for qualified purchasers who have owned and occupied a primary residence for a period of five consecutive years during the last eight years.

According to the IRS, factors that would demonstrate the ownership of the property would include: 1. Right of possession, 
2. Right to obtain legal title upon full payment of the purchase price, 
3. Right to construct improvements, 
4. Obligation to pay property taxes, 
5. Risk of loss, 
6. Responsibility to insure the property, and 
7. Duty to maintain the property.

More info available at: http://www.federalhousingtaxcredit.com/

Some information Courtesy of:
Jeffrey B. Schneider, CFM
Sr. Mortgage Specialist
P: 919-361-6168
F: 866-527-6654
www.SunTrustMortgage.com/ADSGroup

Nogui Aramburo
REALTOR and Marketing Coordinator
Coldwell Banker HPW

www.blog.bullcityrealtor.com
Cell: 919.771.3609
Email: aramburon@hpw.com
Follow me on Twitter
twitter.com/nogui

Buyers, Realtors or anyone thinking about purchasing a home in 2009, we cordially invite you to an Open House at Orchard Lake subdivision this Sunday from 2-4PM!

Come and view 5 fantastic homes, have some ice cream and refreshments! Enter a drawing at each home! The Mortgage Bus will also be there to answer any questions regarding financing and the first time home buyer $8,000 Tax Credit from Uncle Sam! Take advantage of this excellent time to buy a home!

I-40 to North on Fayetteville Road. Left on MLK Parkway, right on Cook,
Right onto Orchard Oriole Lane!

1. The most activity will come in the first 3-4 weeks. This is a crucial time and it would be ideal to get an offer during this time period. Assuming the property is priced right with great curb appeal, the best offers will come in this time period.

2. First impressions count! Get rid off the pet odors, and keep the house tidy and neat at all times. The worst thing you want is to have your house known as, "Oh, you mean the 'cat' house?"

3. De clutter, depersonalize and demystify. Remove all unnecessary clutter from the home. Getting rid of this stuff will make it easier when you do move. Start packing the items you are going to keep and store them away. Buyers want to envision themselves in your home, having dinner or gathering in the family room. The less of your personal belongings on display the better it will be for them to imagine themselves living there.

4. Touching up. This involves touching up and painting those areas where the pictures and artwork came down. If you have strong decorating tastes, this might be a good time to paint your walls a neutral color.

5. Curb appeal. If you've been putting off painting the exterior, now will be a good time to do it. Remember, its all about how the buyers perceive the property. Make sure the lawn looks nice, free of toys, equipment etc. Trim the shrubs, maybe plant some flowers.

6. Pricing. This is a tough one for sellers. Market value will determine how much your home will sell for. Pricing it too high will mean a longer time on the market and too low and you'll lose money. In the first weeks, if your house is priced too high, you'll get buyers looking in that higher range and your home won't compare to others in the higher price range. At the same time, you just eliminated the 'true buyers who didn't see your home because it was priced out of their range.

7. Repairs. Get 'em done. When an offer does comes in, these items will have to be addressed. Why not do them now? Service the HVAC and fix broken seals on windows. Have the carpets professionally cleaned or replaced if too worn.

8. Documents. Try to locate the title policy and any previous appraisals, surveys, or plats. Your Realtor can add the survey to your marketing materials to give the buyer an idea of the lot lines on your property.

9. Invoices. Assemble records of any repairs, upgrades with invoices. This adds value and shows a potential buyer what maintenance and care you've shown to your home.

10. Be prepared to not be at home when the showings take place. This will give the buyer a chance to express themselves freely and to wander the home thinking of the possibilities.

The home priced right and with great curb appeal will always give you the edge over the ones not maintained- even if they are priced lower.

Call or email me for a complimentary Comparable Market Analysis on your home.

Nogui Aramburo
Cell: 919.771.3609
nogui@amypomerantz.com
Twitter: Nogui

Below is are the some important facts regarding the tax credit. This credit is only available this year, so take advantage!

Great reasons for taking advantage of the credit.

1. It'll help your pockets. Who can't use a cool 8K these days?

2. It'll help the economy. Each home sold generates 60K in economic activity

3. It'll help you stop paying someone else's mortgage and start to create a future for you and your family.

4. It'll help you achieve The Great American Dream

Credit can be claimed on 2008 Tax Return by filing by April 15th, by amending your 2008 Tax Return, or your 2009 Tax Return. Please consult your tax advisor.

FEATURES:
10% of home purchase up to 8K maximum

All principal residences eligible

Refundable- meaning after eliminating your tax liability the rest is refunded to you!

Income Limits: Under 75K or 150K for joint filers

Eligibility: 1st time home buyers or those who haven't owned in the last 3 years

Repayment: No repayment if the home owner stays in the home for 3 years

Nogui Aramburo
Realtor at Coldwell Banker, HPW South Durham
919.771.3609
nogui@amypomerantz.com
Follow me on Twitter: Nogui

Perfect location close to Nana's and Foster's. Strategically located between Central and South Durham in a great neighborhood! Wonderful 4 bedroom and 2.5 bath home in great condition! Formal dining room with chair rail and crown molding and formal living room. Eat-in kitchen with island opens to family room with gas log fireplace. Great master bedroom with cathedral ceiling. Large brick patio in the rear perfect for entertaining!

Great Location!!!

Eat in Kitchen and Seperate Dining Room

Great Patio for Entertaining!

For information on this or any other listings in the Bull City, call or email!

MLS# 1644703
$212,900

Nogui Aramburo
The Amy Pomerantz Group
nogui@amypomerantz.com
919.771.3609
1644703 1644703

Eat-in Kitchen, Separate Dining Room

Eat-in Kitchen, Separate Dining Roo