Onslow County North Carolina Home Buyers' Tax Credit

*Update - The tax credit expires December 1, 2009 - not December 31st as I first reported.

There is much confusion, misunderstanding and misinformation floating around concerning the tax credit for home-buyers that is included in the economic stimulus package.

My job is to provide information and assistance to those who are looking to buy a home in Hubert, Swansboro, Jacksonville and other areas of Onslow County, N C.

So let's break it down.

• Who qualifies? The tax credit applies only to first-time home buyers and their principal residence.

• What is a first time home buyer? Anyone who has not owned a principal residence for three years prior to buying a home.

• How Much is the Tax Credit? The tax credit is 10% of the purchase price of the home - but cannot exceed $8,000.00

• Does It Have to Be Repaid? The tax credit does not have to be repaid (the earlier $7,500 did have to be repaid)

• Is There A Time Limit? Yes, the tax credit is available only to those who purchase a home between January 1 and December 31, 2009 *December 1, 2009.
  

• Are there income limits? Yes. Single buyers must have an adjusted gross income of $75,000 or less to qualify for full credit. Married buyers - $150,000. However, those whose income exceed the limits may qualify for reduced credits.

• Are There Other Conditions? Yes. Buyers must own their home for a minimum of three years to retain the credit--if buyers sell the home in less than three years, the government will demand the full repayment of the tax credit. (There may be some exceptions in cases of death or divorce)

If you have questions about how this tax credit can help you buy a home in Onslow County North Carolina, contact me and let's talk about it.

Cynthia Tilghman, Realtor, Onslow County Home Specialist 910 459 9189 Email Me

Kingsbridge Realty, Inc., Making Houses Homes

We take pride in assisting Military Families locate a home in Onslow County when relocating to Camp Lejeune North Carolina

Area expert for homes in Hubert North Carolina

At Home in Hubert, North Carolina Waiting, Waiting

Well here we sat all day yesterday, watching and waiting for it to happen. The weatherman had promised us the cold rain would turn to snow. We believed him. But once again, we were misled. It rained and rained but no snow flakes.

The children had their boots, coats and gloves setting by the door with high hopes of building a snowman, making snow angels, throwing snowballs and perhaps even sledding down the driveway on a garbage can lid.

Darkness came and hope was put on hold for another day.

The light of morning revealed that once again residents in Onslow County had not received any of the long awaited and much anticipated snow.

How many more opportunities will we have this winter season? It's a game of wait and see but we can always hope.

Onslow County, NC Housing Market Report - 4th Quarter 2007

Here's a look at the the 4th quarter of 2007 for single family residences in Onslow County. Manufactured/mobile homes, condos and single family homes are included in the reports.



As you can see from this chart, in our area sellers with the advice of their agents are pricing their homes wisely and are selling their homes at a high percentage of the list price.

It is all about pricing and it is imperative that you hire an agent who is knowledgeable about the current, local market and all that affects it.

I would consider it an honor to work with you, please give me a call with any questions, comments or concerns.

Cynthia Tilghman, Realtor, Onslow County Home Specialist 910 459 9189 Email Me

Kingsbridge Realty, Inc., Making Houses Homes

We take pride in assisting Military Families locate a home in Onslow County when relocating to Camp Lejeune North Carolina

Area expert for homes in Hubert North Carolina

Source of statistic: Onslow Ccounty MLS

Commission Paid in Scallops??

The idea for this blog came to me yesterday as I was responding to a comment by Jo-Anne Smith on a post , Dog Days of Summer Fishing , I posted a couple of days ago. Jo-Anne asked me if we had scallops in my area. That question caused the light bulb in my brain to illuminate.

I don't know how many of you remember the real estate market during the 1980s--but according to my parents-it was bad. Interest rates were 18% and my Dad's building/development business was struggling. It was a difficult time for anyone in real estate related businesses. There was not a whole lot of building going on and he was sitting on several spec houses with construction loans with exorbitant interest rates. The bank had to be paid every month as you would expect.

My Dad owned heavy equipment and trucks and thanks to that, he was able to pick up some work to keep the bank at bay and food on the table. One of the jobs that came his way was digging out, removing and hauling scallops shells from a fish house. He was not very happy about using his equipment to dig out the smelly shells but work was work. So he dug out the shells, loaded them on a dump truck and hauled them. At the end of each day, he washed the truck and backhoe trying to wash away the smell as best he could.

When the job was complete and he presented the fisherman with the bill, the man told my Dad he did not have the money to pay him but would like to pay him in scallops! Yes, my Dad came home with many pounds of scallops. Mom prepared and froze the scallops.

Now my Mom is a resourceful woman and an excellent cook but there are only so many ways to prepare scallops. Believe me she tried each and every method and recipe she could find. It seemed we ate scallops 5 to 6 times per week and if there was a dish on the table we did not recognize, we immediately suspected that it was scallops in disguise. You can bet we were not sad to see the last of the scallops. It was a long time after that before any of us ate scallops again.

Maybe times aren't as bad as you think, when was the last time you were paid in scallops?

Photos courtesy of Flickr

Cynthia Tilghman, Onslow Home Specialist 910 459 1989

Contact me

Kingsbridge Realty,Inc. Making Houses Homes
We take pride in assisting Military families in locating housing in Onslow County, NC