Don't Forget the April 30th Deadline for Tax Credit!

Hi Folks,

This is a great opportunity for many people, whether you're a first-time buyer or currently own a home. The following are the basic guidelines of the program:

Tax credit: 10% of the purchase price of a primary residence, up to a maximum of $8,000 for first-time homebuyers and $6,500 for repeat buyers. First-time homebuyers are defined as people who have not owned a home in the previous three years. Repeat buyers must have owned their current home at least five years. The credit cannot be used for houses costing more than $800,000.

Deadline for qualifying: Purchase agreements must be signed by April 30, 2010, and closings must be final by June 30.

Military deadline: The deadline is extended by a year for members of the military who have served outside the U.S. for at least 90 days from Jan. 1, 2009, to May 1, 2010.

Income limits: Individuals with annual incomes up to $125,000 and joint filers with incomes up to $225,000 qualify for the full credit. Individuals with incomes up to $145,000 and joint filers with incomes up to $245,000 qualify for reduced credits.

How to apply: Taxpayers can claim the credit on their federal income tax returns. If the credit exceeds their tax bill, the government will issue a payment. Taxpayers who want immediate refunds can amend their tax returns for 2008 to claim the credit.

If you need any help, please feel free to contact us!

Dianne Dunn and Team New Bern
Keller Williams Realty
New Bern, NC

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Local New Bern News - Market Update

This column is customized each month so that I can share with you, the current monthly statistics. Please feel free to contact me if you have any questions! Or, visit my website at www.NewBernHomes.com.

HOMES SOLD (Closed), January 1 through January 31 (from NRRAR MLS Service)
Under $99,999 = 04
$100K-$139,999 = 07
$140K-$179,999 = 12
$180K-$219,999 = 16
$220K-$259,999 = 03
$260K-$299,999 = 04
$300K-$349,999 = 05
$350K-$399,999 = 01
$400K-$499,999 = 00
$500K-$999,999 = 03
Over $1,000,000 = 00

Total January 2010 = 55
Total January 2009 = 55
Total January 2008 = 97
Total January 2007 = 144

NEIGHBORHOOD PROPERTIES "SOLD", January 1 through January 31 (from NRRAR MLS Service)

NEIGHBORHOOD PROPERTIES "FOR SALE" (from NRRAR MLS Service)

For the BEST Internet Marketing, and the Most Responsive Service in New Bern, Contact DIANNE! Email Dianne (252) 636-3301 or Toll Free: (888) 781-8800

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Building Trends for 2010

The survey's from two recent articles in RISMedia said that Americans want smaller houses and they are willing to strip some of yesterday’s most popular rooms—such as home theaters—from them in order to accommodate changing lifestyles, consumer experts told audiences at the International Builders Show.

The penchant for smaller homes will necessitate some design changes. Builders, attempting to respond to those consumer demands as well as hold the line on prices, told the NAHB surveyors that they were most likely to include these features as standard in their houses this year:

What's "In" for 2010?
-Walk-in closets in the master bedroom.
-Laundry rooms.
-Insulated front doors.
-Great rooms.
-Energy-efficient windows.
-Linen closets.
-Programmable thermostats.
-Energy-efficient appliances and lighting.-
Separate shower and tub in master bathrooms.
-Nine-foot ceilings on the first floor.

Among the things that builders said they were least likely to add to houses in 2010:
-Outdoor kitchens.
-Outdoor fireplaces.
-Sunrooms.
-Butler’s pantries.
-Media rooms.
-Desks in kitchens.
-Two-story foyers.
-Eight foot ceilings on the first floor.
-Multiple shower heads in the master bath.
-Smaller kitchens.

It seems like the new trend is "down-sizing", with certain conveniences!

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