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Archive for December, 2009

Sad News – Prominent Roanoke Real Estate Lawyer Passes

December 30th, 2009 The Wilson Team Comments off

It is with a heavy heart that I let everyone know that Ed Natt has finally lost his battle with cancer. He passed away last night around 9:15pm after a long and ardous fight against cancer. He was a friend, neighbor, and outstanding attorney who always had a smile on his face. There was a great article in the Roanoke Times recently about Ed’s life. Click Here
He will be sadly missed. Please keep his family in your prayers.

Another Big Gain in Existing Home Sales

December 22nd, 2009 The Wilson Team Comments off

Existing-home sales rose again in November as first-time buyers rushed to close sales before the original Nov. 30 deadline for the recently extended and expanded tax credit, according to the NATIONAL ASSOCIATION OF REALTORS®. More…

Videos tips to make your home sell faster and live Greener

December 11th, 2009 The Wilson Team Comments off

I found this link to several short videos on our REALTOR.org site that gives some great ideas on how to stage your home, green your kitchen, and makeover several rooms in your house. These are short videos, but give some great advice. Watch them here.

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IRS Publishes Answers about the Homebuyer Tax Credit

December 9th, 2009 The Wilson Team Comments off

The IRS has recently published clarifications of the Homebuyer Tax Credit. This article explains some of the gray areas in the law. There is also a great Q&A section that goes through some scenarios that help clarify even more.

VHDA Extends 1st time Homebuyer help for Roanoke Buyers

December 9th, 2009 The Wilson Team Comments off

The Virginia Housing Development Authority has extended its Homebuyer Tax Credit Plus program to match the deadlines of the Federal First-Time Homebuyers Tax Credit. VHDA’s program lets borrowers take advantage of the tax credit to finance down payment and closing costs up to 5% of the sales price, using a second mortgage. Here is a link to information on their program. For more info, give us a call at 540-330-8000.

Have We Hit The Bottom Yet in Roanoke Home Sales?

December 3rd, 2009 The Wilson Team Comments off

According to a recent article in REALTOR Magazine, Lawrence Yun, Chief economist of the National Association of REALTORS states, “It’s been a long time coming, but thanks largely to strengthening housing markets, the country is pulling out of the recession.” He goes on to to speak about the recession and hopefully better economic conditions ahead. This article was in the November/December issue and had a couple of very interesting graphs showing Home Sales and Business Confidence. more …

New homebuyer tax credit helps Roanoke home buyers

December 3rd, 2009 The Wilson Team Comments off

The Unemployment Insurance bill including the homebuyer tax credit extension and expansion has passed the House by a vote of 403-12 after passing the Senate last night 98-0. President Obama signed off on this bill this afternoon. Right click this link and select “Save target as…” to download a chart explaining the difference between this credit and the one that expired on November 30.

The bill extends the present $8,000 tax credit for first-time home buyers through April 30, 2010. Current homeowners are eligible for a $6,500 tax credit through April 30, provided they have lived in the home they are selling, or have sold, as principal residence for five consecutive years in the past eight years. If potential home buyers have a binding contract on or before April 30, they will have until July 1 to close the transaction.

Income limits for eligible home buyers are expanded to $125,000 for single buyers and $225,000 for couples. The purchase price of the home cannot exceed $800,000. To help guard against fraud, buyers are required to attach documentation of purchase to their tax return.more…