As I mentioned in Part 1, 1stTime Home Buyers, especially those relocating to the Greater Asheville, NC area want to know if the home (or land) they invest in has a good chance of appreciating over the years ...
According to Home Smart Reports, a research tool for 1st Time Home buyers (and others) that focuses "not only on market value, but also the underlying trends that affect property value in both the short and long-term.... and market conditions you need to know when making your buy/sell decisions ..."
The Asheville area gets an "A" for Low Market Risk Conditions.
Given this, now is the time for smart 1st Time Home Buyers to exercise the option to invest in real property .
(Here I am talking about eco-freindly land purchases and green-built homes to be sited on the land...LAND , of course is ALWAYS a good value!)
Local experts say that the in-demand "green" real estate market is strong. One real estate adviser told me, " There are wonderful homes to be found if you know where to look and are ready to act when you spot what you desire..." As an Eco-Certified Real Estate Consultant and EcoBroker, I totally agree..especially when it comes to eco-friendly land and homes.
Add to that the recent economic stimulus packagerecently signed by President Obama which features, for 1st Time Home Buyers, an $8,000 (or 10% of the home's value, whichever is less) benefit on their 2008 or 2009 taxes, and we all are smiling!
DETAILS(as promised inPart 1of this series) according to CNN this tax credit has the following pluses:
- Refundable: The credit is refundable, meaning tax filers see a refund of the full $8,000 even if their total tax bill - the amount of withholding they paid during the year- was less than that amount.
- Purchase Date: To qualify for the credit, the purchase must be made between Jan. 1, 2009 and Nov. 30, 2009. Buyers may not have owned a home for the past three years to qualify as "first time" buyer. They must also live in the house as their primary residence for at least three years, or they will be obligated to pay back the credit.
- Paperwork: Applying for the credit will be easy - or at least as easy as doing your income taxes. Just claim it on your return. No other forms or papers have to be filed. Taxpayers who have already completed their returns can file amended returns for 2008 to claim the credit.
- Income Restrictions: To qualify, buyers must make less than $75,000 for singles or $150,000 for couples.
PS. Definition of a 1st Time Home Buyer! Buyers who have NOT owned a home for the past three years and who will also live in the house for at least three years...(otherwise they will have to pay back a special credit...keep reading...Part 3)
and let me know what YOU think...
Curious about sustainable Green real estate possibilities ? Simply pedal on over to Convivial Blogger Greenolina's "Green Wheels" BLOG and SUBSCRIBE
(*)/'(*) .......... ............to keep on rolling into the sustainable world you can create today and tomorrow!. ......................... .............
Asheville Relocation, The Smart 1st Time Home Buyer, and Tax Incentives They Love (Part 2) The Eco-Steward Firm, ALL Eco-Certified® Real Estate Consultants! Copyright © 2009 All Rights Reserved
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