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Cape Fear Realtors and Realty
If you are considering either buying an existing home or building anew, you can’t go wrong with the location the Cape Fear region affords. From beautiful sand and surf to exquisite coastal living inland, the opportunities existing in the current Cape Fear housing market are ripe for the discriminating buyer.
In fact, Builder magazine listed the Wilmington area market as one of its “Healthiest Housing Markets” for 2009. The magazine analyzed the top 75 housing markets in the country and ranked them based on population trends and job growth, as well as how well the homes in the market held their valuations. In what the magazine considers the biggest indicator of builder confidence in a particular market, the rate of recent building permits was also considered. The Wilmington area ranked 14th overall in the United States when all of these benchmarks were analyzed.
Buying anew
If you are looking to buy a new home, your timing is perfect, especially for both first-time homebuyers and those looking to upgrade their primary residence. According to the National Home Buyers Association, a tax credit of up to $8,000 is available for all first-time homebuyers.
Originally scheduled to end on Dec. 1, 2009, the credit now applies to sales on or after Jan. 1, 2009, and on or before April 30, 2010. However, in cases where a binding sales contract is signed by April 30, a home purchase completed by June 30 will qualify.
Previously, the credit was available to individual filers making $75,000 a year or less. For couples the limit was $150,000. The new income limit will be $125,000 for individuals and $225,000 for couples.
There’s also a great incentive in the revised credit for move-up buyers: Before, you couldn’t claim the credit if you owned a home in the past three years. Now, if your last home was your primary residence for at least five years, you can claim $6,500 in tax credit if you buy a new home.
Talk about a great incentive for those looking to purchase their dream home!
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