With the new home buyer tax credit set to expire at the end of this month, the Senate and House voted last week to extend the $8,000.00 New Home Buyer Tax Credit. The extension is valid for contracts entered into by April 30, 2010 that close no later than June 30, 2010.

Homeowners that have lived in their home 5 or more years now qualify for a $6,500.00 credit when purchasing a new home. Income qualifications have been relaxed, couples earning up to $225,000 a year and individuals earning up to $125,000 a year now qualify.

Buyers should note that if you stop using a home as your primary residence within three years you will have to repay the tax credit. I am sorry to say that if you are looking to purchase a home worth more than $800,000 the homeowner tax credit is not for you.

For more information about The First Time Home Buyer Tax Credit feel free to contact me.

Cobblestone Village, Sunset Beach, NC has 3 new homes on the market ranging from $299,000 to $369,000.   Lot prices currently range in price from $94,900 to $99,900. I home recently sold in Cobblestone Village for $269,900 in the past 90 days.   

Listing in Cobblestone Village

Please be sure to contact your Fairway & Isle exclusive buyer’s agent for the most up to date information on Cobblestone Village.

Townhomes for Sale at The Beacon Towns, Carolina Shores, NC.

• 1 new townhome is available for $155,000
• 3 resale townhomes range in price from $149,000 – $229,000
• 7 pre-construction townhomes from $139,500-$155,500

There have been 3 townhomes sold in the past 90 days for an average of $159,218.

Remember, please be sure to contact your Fairway & Isle exclusive buyer’s agent for the most up to date information on The Beacon Townes.

MSNBC.com recently did a story that discussed the increased number of foreclosures occurring due to nonpayment of HOA dues. In some situations where the home owners were significantly behind on dues the HOA exercised their right to attach a mechanics lien to the property which in some cases the lean apparently forced a foreclosure. This is a gentle reminder to always consider the cost of HOA dues in your budget and to always review the HOA by-laws before you buy.

Many are learning to their surprise that condo and neighborhood associations that oversee security patrols, mow lawns, plant flowers and clean the community swimming pool may have the right to foreclose when dues aren’t paid. That right is often written into the purchase agreement signed by the homeowner.

For the complete article http://www.msnbc.msn.com/id/31260837/ns/business-real_estate/

There has been solid sales activity for The Farm at Brunswick, Carolina Shores, NC. 26 new homes and townhomes are currently on the market ranging in price from $120,000 to $250,000. There are also1 8 re-sale homes and townhomes ranging in price from $169,000 to $329,000.  8 homes have sold in the past 90 days at an average price of $177,900.  2 townhomes have sold in the past 90 days at an average price of $168,000.

Remember, please be sure to contact your Fairway & Isle exclusive buyer’s agent for the most up to date information on The Farm at Brunswick.

The Regency in Sunset Beach, NC has reduced prices on most of their new condo units by approximately $150,000. New condo units at The Regency are now priced between $499,900 and $589,900. Re-sale asking prices for condos at the Regency are priced between $459,900 and $699,000.

Please be sure to contact your Fairway & Isle exclusive buyer’s agent for the most up to date information on The Regency.

The new Sunset Beach bridge is on schedule to be open around June/July of 2010.  The dead line for removing the current pontoon bridge is December 2010.