This months topics include Trendy Colors and Tax Treasures.

]]> http://www.noahgeorge.com/618/sellers/noahs-march-2010-newletter/feed/ 0 http://www.noahgeorge.com/618/sellers/noahs-march-2010-newletter/?utm_source=rss&utm_medium=rss&utm_campaign=noahs-march-2010-newletter http://feedproxy.google.com/~r/NoahGeorge/~3/Bv0QVDwopYE/ http://www.noahgeorge.com/601/sellers/noahs-february-2010-newsletter/#comments Mon, 22 Feb 2010 16:37:48 +0000 Julie http://www.noahgeorge.com/?p=601 Noah’s February newsletter

]]> http://www.noahgeorge.com/601/sellers/noahs-february-2010-newsletter/feed/ 0 http://www.noahgeorge.com/601/sellers/noahs-february-2010-newsletter/?utm_source=rss&utm_medium=rss&utm_campaign=noahs-february-2010-newsletter http://feedproxy.google.com/~r/NoahGeorge/~3/Zk0mpzUJsdw/ http://www.noahgeorge.com/566/hendersonville-real-estate/real-trends-housing-market-report/#comments Wed, 17 Feb 2010 14:50:45 +0000 Julie http://www.noahgeorge.com/?p=566

Home sales rose 17.1 percent across the nation in December 2009 compared to the same month in 2008, according to the REAL Trends House Market Report. This gain came despite the loss of urgency from first-time homebuyers since the related tax credit was set to expire through April 2010.  More surprising is that the average price of homes sold rose .6 percent – the first gain in over four years.

Excerpt from:  www.realtrends.com,  Volume XXIV, Number 1    January 2010

• Principle residence of the borrower.
• The mortgage loan was originated prior to January 1, 2009 and it is the first lien mortgage.
• The loan is delinquent OR future default is forseeable.
• The present principle balance is $729,750 or less.
• The borrower’s monthly mortgage payment is more than 31 percent of his gross income.

Fannie Mae and Freddie Mac are expected to release a similar set of guidelines.

Information taken from REALTOR Magazine, February 2010.

Henderson County
61 – Total Number of Units Closed
Here is the breakdown:
51 – Single Family Residence
7 – Condos
3– Townhomes
0– Pre-Construction

For Single Family Residences in Henderson County
The average list price for January in Henderson Co. was $222,000
The average sales price for January in Henderson Co. was $244,548
The median list price for January in Henderson Co. was $265,240
The median sales price for January in Henderson Co. was $197,900
The average days on market were 158. (Please remember this number is calculated from the list date of the current listing. This does not calculate total days on market if the home was listed with multiple agents).

Buncombe County
125 – Total Number of Units Closed
Here is the breakdown:
105 – Single Family Residence
11 – Condos
8 – Townhomes
1 – Pre-Construction

For Single Family Residences in Buncombe County
The average list price for January in Buncombe Co. was $300,980
The average sales price for January in Buncombe Co. was $280,031
The median list price for January in Buncombe Co. was $200,000
The median sales price for January in Buncombe Co. was $190,000
The average days on market were 162. (Please remember this number is calculated from the list date of the current listing. This does not calculate total days on market if the home was listed with multiple agents).

Transylvania County
15 – Total Number of Units Closed
Here is the breakdown:
15 – Single Family Residence                                                                                                                                        0 – Condos
0 – Townhomes
0 – Pre-Construction

For Single Family Residences in Transylvania County
The average list price for January in Transylvania Co. was $281,273
The average sales price for January in Transylvania Co. was $257,433
The median list price for January in Transylvania Co. was $220,000
The median sales price for January in Transylvania Co. was $186,000
The average days on market were 108. (Please remember this number is calculated from the list date of the current listing. This does not calculate total days on market if the home was listed with multiple agents).
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This information is critical in understanding our local market. It is important as you make decisions about buying and selling.

Buckets of Blessings

Keller Williams agents filled five gallon buckets with supplies for Haiti. Hearts with Hands calls them “Buckets of Blessings.” The buckets hold first aid supplies, blankets, diapers, beans, rice, and hygene items. The bucket itself serves mini purposes from gathering water and supplies to being a makeshift stool. In addition, Keller Williams sent cases of bottled water so the Haitians have clean drinking water. If you want to be a part, contact Hearts with Hands Disaster Relief.

1. My wife gave birth on February 4th to our son Barclay. I am so thankful for my wife and my son.
2. I had the pleasure to work with wonderful clients and I was able to close 29 units in 2009 which was a 45% increase from 2008. I truly appreciate everyone I was able to help in 2009 and I also want to thank everyone who referred their friends and family to me. I look forward to serving even more clients in 2010.
3. I partnered with Sparkdog and Clark Mackey to redesign my website to expand my business, better inform current clients and reach more customers online.
4. In November, I hired my assistant Julie Ball. She has been a tremendous asset to my team.
5. In 2009, I completed the rigorous educational and production requirements to earn the Certified Residential Specialist Designation. Less than 4 percent of all licensed Realtors® are Certified Residential Specialists.
6. Keller Williams Realty in Hendersonville had a 13% increase in volume from 2008 to 2009. Take a look at the information below comparing Keller Williams Realty in Hendersonville to our competition. We are currently number 2 in the Hendersonville market which has been accomplished in only 4 short years. 2010 is poised to be a head turner as Keller Williams Realty in Hendersonville looks to be the number 1 Real Estate company in Hendersonville.

. 2008 Volume 2009 Volume % of change . Keller Williams Realty $62,950,261 $70,876,254 13% . Beverly Hanks and Associates $107,428,700 $93,897,446 -13% . Coldwell Banker $81,001,258 $18,391,280 -77% . Information compiled from the WNCMLS

Henderson County
79 – Total Number of Units Closed
Here is the breakdown:
64 – Single Family Residence
13 – Condos
1 – Townhomes
1 – Pre-Construction

For Single Family Residences in Henderson County
The average list price for November in Henderson Co. was $264,094
The average sales price for November in Henderson Co. was $245,113
The median list price for November in Henderson Co. was $214,450
The median sales price for November in Henderson Co. was $197,500
The average days on market were 133. (Please remember this number is calculated from the list date of the current listing. This does not calculate total days on market if the home was listed with multiple agents).

Buncombe County
206 – Total Number of Units Closed
Here is the breakdown:
154– Single Family Residence
27 – Condos
23 – Townhomes
2 – Pre-Construction

For Single Family Residences in Buncombe County
The average list price for November in Buncombe Co. was $264,549
The average sales price for November in Buncombe Co. was $247,415
The median list price for November in Buncombe Co. was $224,950
The median sales price for November in Buncombe Co. was $205,500
The average days on market were 144. (Please remember this number is calculated from the list date of the current listing. This does not calculate total days on market if the home was listed with multiple agents).

Transylvania County
22 – Total Number of Units Closed
Here is the breakdown:
21 – Single Family Residence
1 – Condos
0 – Townhomes
0 – Pre-Construction

For Single Family Residences in Transylvania County
The average list price for November in Transylvania Co. was $593,854
The average sales price for November in Transylvania Co. was $533,976
The median list price for November in Transylvania Co. was $279,000
The median sales price for November in Transylvania Co. was $255,000
The average days on market were 279. (Please remember this number is calculated from the list date of the current listing. This does not calculate total days on market if the home was listed with multiple agents).
——
This information is critical in understanding our local market. It is important as you make decisions about buying and selling.

Henderson County
109 – Total Number of Units Closed
Here is the breakdown:
89 – Single Family Residence
14 – Condos
5 – Townhomes
1 – Pre-Construction

For Single Family Residences in Henderson County
The average list price for October in Henderson County was $241,382
The average sales price for October in Henderson County was $226,686

The median list price for October in Henderson County was $191,500
The median sales price for October in Henderson County was $179,000

The average days on market were 167. (Please remember this number is calculated from the list date of the current listing. This does not calculate total days on market if the home was listed with multiple agents).

Buncombe County
219 – Total Number of Units Closed
Here is the breakdown:
162 – Single Family Residence
40 – Condos
15 – Townhomes
2 – Pre-Construction

For Single Family Residences in Buncombe County
The average list price for October in Buncombe County was $296,110
The average sales price for October in Buncombe County was $264,276

The median list price for October in Buncombe County was $209,950
The median sales price for October in Buncombe County was $205,000

The average days on market were 115. (Please remember this number is calculated from the list date of the current listing. This does not calculate total days on market if the home was listed with multiple agents).

Transylvania County
27 – Total Number of Units Closed
Here is the breakdown:
26 – Single Family Residence
1 – Condos
0 – Townhomes
0 – Pre-Construction

For Single Family Residences in Transylvania County
The average list price for October in Transylvania County was $333,060
The average sales price for October in Transylvania Co. was $307,842

The median list price for October in Transylvania County was $211,950
The median sales price for October in Transylvania Co. was $200,000

The average days on market were 98. (Please remember this number is calculated from the list date of the current listing. This does not calculate total days on market if the home was listed with multiple agents).
——
This information is critical in understanding our local market. It is important as you make decisions about buying and selling.

On Friday, November 6, 2009, the President signed into law:

H.R. 3548, the “Worker, Homeownership, and Business Assistance Act of 2009,” which provides an additional 14 weeks of emergency unemployment compensation (EUC) in all States and six additional weeks of EUC in very high unemployment States; extends the Federal Unemployment Tax Act surtax through June 30, 2011; extends the $8,000 First-Time Homebuyer Tax Credit through April 30, 2010, and provides a $6,500 credit to certain other homebuyers through April 30, 2010; increases from two to five preceding years the period for which businesses can offset net operation losses in 2008 and 2009 against income; and makes certain other changes to Federal unemployment programs and tax laws;

To recap the Homebuyers Tax Credit Changes

* Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010.
* Expands the credit to grant up to $6,500 credit to current home owners purchasing a new or existing home between November 7, 2009 and April 30, 2010.

Who Qualifies for the Extended Credit?

* First-time home buyers who purchase homes between November 7, 2009 and April 30, 2010.
* Current home owners purchasing a home between November 7, 2009 and April 30, 2010, who have used the home being sold or vacated as a principal residence for five consecutive years within the last eight.

To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.

Which Properties Are Eligible?

The Extended Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops.

How Much Is Available?

The maximum allowable credit for first-time home buyers is $8,000.

The maximum allowable credit for current homeowners is $6,500.

How is a Buyer’s Credit Amount Determined?

Each home buyer’s tax credit is determined by tow additional factors:

1. The price of the home.
2. The buyer’s income.

Price

Under the Extended Home Buyer Tax Credit, credit may only be awarded on homes purchased for $800,000 or less.

Buyer Income

Under the Extended Home Buyer Tax Credit, which is effective on November 7, 2009, single buyers with incomes up to $125,000 and married couples with incomes up to $225,000—may receive the maximum tax credit.

These income limits have changed from the 2009 First-Time Home Buyer Tax Credit limits.

If the Buyer(s)’ Income Exceeds These Limits, Can He/She Still Get a Credit?

Yes, some buyers may still be eligible for the credit.

The credit decreases for buyers who earn between $125,000 and $145,000 for single buyers and between $225,000 and $245,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income—over $145,000 for singles and over $245,000 for couples are not eligible for the credit.

Can a Buyer Still Qualify If He/She Closes After April 30, 2010?

Under the Extended Home Buyer Tax Credit, as long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close.

Will the Tax Credit Need to Be Repaid?

No. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during this three-year period, the full amount credit will be recouped on the sale.

If you have specific questions or need additional information, please contact a tax professional or the Internal Revenue Service at 800-829-1040. If you need a referral for a local tax professional call me at (828)393-0134.