About Roanoke City County, VA

The 1st Time Home Buyer Tax Credit has been extended! Great News for Roanoke Virginia Home Buyers. The first time Home Buyer Tax Credit has not only been extended but it has been expanded. The old tax credit only applied to first time home buyers. The definition of first time home buyer was defined as someone who had not owned a home in the past three years. There were income limits that did not affect most of the first time home buyers in the Roanoke Virginia area but those income limits have been raised with this new extension.

The new tax credit has been extended till April 30, 2009. This extension is somewhat different than the current tax credit in that you must have a ratified contract by April 30, 2010 and you must close that loan by June 30, 2010.

The expansion of the tax credit is a $6,500 tax credit for anyone buying a home, even existing home owners with a few caveats......

1) They must have lived in their previous home for 5 of the last 8 years. (I have no idea why)

2) The new purchase must be the buyers new primary residence.

3) There are income limits that apply but they are greatly expanded and will not affect most Roanoke area residents.

I do have a CPA available to answer any questions you, your family or friends might have so please don't hestitate to call.

Damon

Two agents in my office in Roanoke VA have started a new listing system for land for sale in Bedford County, Franklin County and Botetourt County VA. This is an exciting and unique land for sale listing system that has never been used for land in Botetourt, Franklin or Bedford Counties.

A rough overview of the "M.A.P land for sale" listing system can be found on their website-

www.valotsandland.com

This is not a limited service listing idea but a revolutionary "land for sale" listing idea strictly for lots and land for sale in the Counties of Bedford County VA, Franklin County VA and Botetourt County VA.

In today's tough economic times it seems that sellers are looking for more ways to offer their land for sale, expose it to the market in new and innovative ways without spending a ton of money doing it. Toney and Tony (kind of funny isn't it) have put genuine thought and innovation into a system to help these sellers offer their land for sale and do it in a way with maximum exposure and limited cost.

For more information about lot and land listings in these area, or other areas of the Roanoke Valley, please do not hesitate to contact me!

Damon

Whether you are a fan of the 1st Time Home Buyer Tax Credits or not, (I am not) we all have to admit that they directly impact the sales of homes.

The news media, REALTORS and lenders have all been spreading the word for the last week about Congress extending the tax credit till next April and expanding it to include people who were not 1st time home buyers. The problem with everyone telling a story that has not become a reality is that they have effectively stalled the market until Congress makes a decision and writes it into law. At this time, this has not happened. Any rumor to the contrary is strictly that.....rumor.

I urge everyone to contact your Congressmen and urge them for a resolution. Vote one way or another...at this point I really don't care which (although I am against it). Just make a decision and stick to it. Let us move on with life instead of keeping us in this limbo stage.

Thanks, my vent is over!

I have raised beagles most of my life up until this year. I used to keep and train anywhere from 10-20 beagles depending on the year and what I had going on in my life. This year I realized that with my work obligations and lack of personal time I could not do the little hounds the justice they deserved. I gave them to a friend to raise and train and I was dog-less for a couple of months. It wasn't long before I realized that I missed the companionship of a dog. I have had labs a couple of times in my life and I knew that as far as a pet is concerned they are much better pets than my beloved beagles.

A friend of mine, Scott Smith, who lives on Smith Farm on Smith View Lane at Smith Mountain Lake called me and told me that he had a litter of pups out of his male Junior. Junior is a 100 lb reddish lab that is full of himself! I was anxious to see the pups but somewhat hesitant as I did not really want a yellow lab (the mother was a yellow lab).

Several weeks passed and before I could get to the Smith farm and take a look at the nine puppies. I picked the name before I ever went to look at the puppies and I went with full intention of picking out the biggest blockiest male pup in the litter. Once I get there I find that the biggest, boldest, blockiest puppy in the entire litter is a GIRL!

So, now I have a girl named "Smith".

WOW! Twice in the past month "REALTORS" from a market an hour and a half from our market have called and asked for me to open a listing for them since they are not members of our MLS and do have have access to our lock boxes......what they fail to mention to their clients is that in addition to not having access to our lock boxes they also have NO KNOWLEDGE OF OUR MARKET OR ACCESS TO OUR COMPS!!!

Hey, I want to help my seller sell their house but what chance does the buyer have of making an informed decision when they have a "REALTOR" (I have a hard time calling these people REALTORS) who is putting their commission above the clients best interest! This is clearly not right!

In Vriginia a Real Estate Sales License gives a Real Estate Agent the "LEGAL" right to sell real estate (Commercial or Residential) anywhere in the State of Virginia. The fact that the State gives a Real Estate Agent the right does not mean that a Real Estate Agent has a moral or ethical right to do so. Every market is different. I know nothing of the market in Lexington VA, Staunton VA, Charlottesville VA, Richmond VA, etc....... So I have NO RIGHT TO LIST OR SELL PROPERTY THERE!

If your real estate agent does not have a lock box key to access a property than most likely they have no knowledge of the area and they should be finding you a real estate professional that does know the market. Anything else is just plain wrong.

I can sell Commercial Real Estate but I don't, I refer that business to a competent Commercial REALTOR who knows and understands Commercial Real Estate! I can sell Smith Mountain Lake, but instead I refer to Karl Vandegriff (540) 529-3430 who lives at, and understands the lake. Please, make sure you find and use a REALTOR who is competent and has actual knowledge of the area you want to live.