Why Now Is a Great Time To Buy a Home
With mortgage rates at historical lows and a great supply of affordably priced homes in many markets, there couldn't be a better time to buy a house. Lenders do have money to lend, and are lending to borrowers who are able to make a down payment, have an acceptable credit history and have the ability to manage all of their monthly obligations.
Your home likely provides more tax relief than any other acquisition, thanks, in part, to new federal laws designed to ease financial suffering in the recessionary economy.
Building on a host of existing tax benefits for homeowners, new breaks help you save money on buying a home, owning a home and selling a home.
The new tax credit which is now in effect for first time homebuyers is $8,000 (or 10% of purchase price, whichever is less). This includes anyone who has not purchased a house in the past three years; it is based on $150,000 per household income. You can take credit for your taxes on your 2008 return even if the purchase is made in 2009.
In addition, there is good news from the National Association of REALTORS® for sellers also. We do still have the Capital Gains Exclusion when selling your home. It is $250,000 for single individuals, and $500,000 for married couples.
Water in our Veins–Meet Lake James Real Estate
Please call us if we can help with any of your real estate needs at Lake James – who better to help you than people who live, play and work here!
Polly Leadbetter – Owner/Broker P/ 828-584-9999 C/ 828-443-5407
Shane Cook – Sales P/828-584-9999 C/828-443-3205
Rhonda Edge – Sales P/828-584-9999 C/828-443-6595
Amanda Hotchkiss – Sales P/ 828-584-9999 C/ 828-335-3001
Marc Parham – Sales P/828-584-9999 C/828-443-1337
Denice Rechtiene – Sales P/828-584-9999 C/828-432-6976
