A fist time home buyer is anyone who has not owned a home during the past three years and is a U.S. citizen who files taxes.  (Some homeowners that do not file taxes may qualify.  You can find answers to questions like this and many others at www.federalhousingtaxcredit.com and www.nahb.org/mythbuster.) 

To qualify for the tax credit, buyers must close on their home purchase between April 8, 2008 and prior to July 1, 2009.  You can claim the entire tax credit if single or head-of-household tax filers have an adjusted gross income that is less than $75,000.  If you are married, this number jumps to $150,000.  Single or head-of-household tax filers who earn between $75,000 to $95,000 (or married filers earning between $150,000 to $170,000) are eligible to receive a partial first-time home tax credit.

The tax credit can be taken in 2008 or 2009.  It works as follows.  If a taxpayer pays less than $7500 in federal income tax, the government will write them a check for the difference.  Those who pay more than $7500 in federal taxes, would reduce their tax bill by the amount of the credit allowed.

There is a catch — would’nt you know it!  The catch is that there is a payback provision.  Essentially, the credit is like an interest-free loan that must be paid back over 15 years.  If you claim the $7500 credit, you would have to repay the credit at $500 per year.  If you sell your home, then the remaining credit would be due from the proceeds of the home sale.  If there is no profit, however, the remaining credit payback would be forgiven.

This is a great option for first time home buyers to consider when thinking about moving forward on the purchase of a home.  If you have any questions about this, don’t hesitate to contact Team Jodi.  We would be happy to answer any and all questions about this new legislation.

Make a list of what you want your dream home to look and feel like. Involve the whole family in this project. After all, you want them to be happy too. Once you have this list, you have the advantage to take your time and look for that perfect home for you and your family. Then, when you start looking, don’t veer from the list. In other words, make sure that the homes that you are looking at have every quality that you have listed. Don’t settle for second best.

Use your senses: once you walk into a home you can feel the personality of that home. Here are some thoughts that should be going through your head:

• Does it fit your personality?
• Does the neighborhood feel right?
• Can you see your family enjoying many, many years of happiness in this home?

Another great idea would be to let me help you find your dream home. I have been inside many homes in the Chapel Hill, Durham, Orange County North Carolina area and will be able to help you narrow your search down until we find the perfect home for you and your family.

So head on over to my website at Teamjodi.com and let me help you find your “Dream Home”!

 

This home has an excellent and appealing floor plan in the best location in Hope Creek   Located at 4304 Forest Edge Trail, the features in this home are truly exceptional.  This home has both a first floor master suite and a first floor guest suite as well as hardwood floors  throughout the main level.  The home features 5 elegant curved archways on the main level. The open living room features a 14 ft ceiling and a gas fireplace with marble surround.  The main level has crown molding throughout and 3-piece chair rail molding and wainscoting in the living room, dining room and foyer.  The kitchen is a chef’s dream with granite countertops, under cabinet lighting, stainless steel appliances and a large island.  At the opposite end of the house is the private guest suite with its own full bath.  The second floor has 2 additional bedrooms and a large finished bonus room.  The attention to detail is not confined to the interior of this home.  Outside there is a large screened porch with an attached sun deck.  For outdoor grilling, there is a convenient gas line hook-up as well. The position of this 4 bedroom, 3 bath home within the community is perfect.  Nestled in the back of Hope Creek, the setting is both peaceful and serene. 

Hope Creek is a lovely neighborhood with custom built homes.  The neighborhood is conveniently located and is approximately 10 minutes to Duke University, 15 minutes to the University of North Carolina Chapel Hill and 15-20 minutes to Research Triangle Park and RDU Airport.  It is also within walking distance of Trinity School.

Some of the activites coming up this month are a home stand by our own Durham Bulls at the Durham Bulls Athletic Park from July 11-13; music on the plaza by Kim Arrington on July 17; the multi-arts extravaganza: Swap-o-rama on July 18th; The Adrian Duke Projek (New Orleans Blues) on July 18th; another Durham Bulls home stand from July 25-31 and as always, the Farmers Market is open each Wednesday from 3:30-6:30pm and each Saturday from 8am-12:00pm.  Many other things are happening downtown, so visit www.downtowndurham.com and check out all the things going on in downtown Durham.

Average Prices

2007

2008

% Change

-3%

-1%

-3%

-3%

6%

% Change

2007

2008

72

84

17%

103

90

-13%

88

89

119

118

71

94

30%

2007

2008

% Change

465

332

-30%

258

156

-40%

1921

1375

-28%

331

226

-27%

2007

2008

8195

5749

-30%

For Full Details use the link below:

average-prices.doc

Wikipedia describes the American Dream as a belief in freedom that allows all citizens and residents of the United States of America to achieve their goals in life through hard work. A part of that American Dream is to own our own home, you know, that proverbial house with the white picket fence and all.

Americans have a long tradition of a solid work ethic to reach our dreams. No doubt about it, it does take a lot of work to own your own home. Over the years, the American Dream has changed a bit in relation to finding that home. Years ago it was much simpler. You purchased a plot of land and built your house on it. Now, we spend hours and hours looking for the right area to live; the right schools for our children; and the perfect house with the perfect yard. We have to make sure that that house has the best of everything. This can be exhausting!!! Not to mention, do the neighbors have barking dogs?!

In spite of today’s complexities, the American Dream is still alive – dreaming of making a better life for ourselves and our families. We have high hopes and great expectations. Our goals are founded on those high hopes, and we will do anything to achieve them.

America is known as the land of plenty, the land of opportunity, and the land of destiny. Free enterprise is at the foundation of that dream. In relation to owning our own home, the possibilities are limitless in America. We have so many choices and are very fortunate. In America, owning your own home (private property) is a fundamental, Unalienable right. This American Dream is real, and it can be achieved.

The paradox is: some people say that we are working so hard to make the American Dream happen that we are not taking the time to enjoy the American Dream.

I am here to help you not only make your dreams come true but to help you enjoy the process of finding the home of your dreams in the Chapel Hill, Durham, and Orange County North Carolina areas.

So . . . live your dream, but enjoy the journey!

North Carolina will have a new live entertainment theater like no other.  After years of discussion and planning, the design phase of the DPAC was completed in February 2006.  Construction began in September of 2006 and will finish in November 2008.  A 10^th anniversary production of Rent will begin the season next January, followed by Fiddler on the Roof in March, Legally Blonde The Musical in April and The Color Purple, which closed on Broadway Feb. 24^th, 2008, after 910 performances, in May.  Meanwhile, the long-running smash Wicked, which opened on Broadway in late 2003 and has been touring the continent since 2005, has been confirmed as the main attraction for the 2009-2010 series. The excitement and anticipation for the Durham and surrounding communities continue to grow as the project nears completion.  You can check the progress of the construction at View the Skanska USA DPAC webcam .  This venue is specifically designed to present the biggest shows on tour.  The Durham Performing Arts Center (DPAC) puts you close to the stage, with no seat further than 135 feet.  The DPAC will feature world-class performers, spacious seating, state-of-the-art sound and lighting and convenient parking.  DPAC allows you to experience live performances in an entirely new way.  The new venue is slated to open in December 2008.  Season Tickets are currently on sale.  We will keep you posted as information becomes available.

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