Real Estate Information Archive

I had a buyer the other day ask me where the real deals are. I asked her what she meant? She was looking to buy a home in the $130,000 - $150,000 price range. She said,"Homes in that price range for sale, that she saw through my website, were about the same price as last year. Homes are supposed to be priced less because of the nationwide downturn." 

This buyer really brings up an important point that I had to explain to her. Newspapers, magazines and broadcast media are really quick to bring up a percentage figure of how much home prices in the Charlotte North Carolina area have declined. The problem is that the price decrease is not across all price ranges. Higher end homes, especially homes over $1,000,000, have seen the steepest price decline. Why? Simple, buyers in this price range that can buy a $1M home don't have to buy a $1M home. A home that's 50% less or more can do just fine, thank you. 

Homes in the more affordable price range, under $200,000 are really selling. Why? Buyers in this price range can't do with a home that $50% less. Besides, buyers in this price range are really tempted by the first time homebuyer's tax credit of $8,000 and the currently low mortgage rates.

The time to buy a home is right now! For a limited time home buyers can claim a special tax credit worth up to $8,000. The American Recovery and Reinvestment Act offers qualifying homebuyers a tax credit equal to 10 percent of a home's purchase price, up to a maximum of $8,000. The tax credit is offered to first time homebuyers, and those who have not owned a principle residence in the past three years. To be eligible for the tax credit, the home purchase must be recorded by November 30, 2009.

The full tax credit is offered to buyers with reported income up to $75,000, or $150,000 for married couples filing a joint return. Partial tax credits are available to those making more. Take advantage of this opportunity before it expires. Here at TeamHeidi^® we strive to keep you informed.  If you need additional details on this exciting program or homes for sale in Charlotte, NC, contact us today!