Hi Everybody,
Just want to give you a heads-up…
The new Truth In Lending Laws that were passed at the end of July 2009, have a pretty big impact on those of you still hoping to take advantage of the $8000 homebuyer tax credit. If you are planning to take advantage of the $8000 tax credit, it’s time to get busy! The new Truth In Lending Laws are stating that REALTORS® should allow at least 45 days to close on a home. (60 days for 100% loans)
The new TIL laws state that if the good faith estimate from your lender changes, you must be notified immediately. Of course, this is only right! However, the method used to notify you is the potential problem. If you are notified via email, fax, phone, or U.S. Mail (pretty much any method other than in person) six days are to be added on to your estimated closing time. As you can imagine that can add up pretty quickly! Receive two faxes and you’ve added half a month on to your closing date! Why are they doing this? Because people were surprised when they sat at the closing table and discovered an aspect of their loan is different from what they were told when they applied. The lender would reply that a notification was sent. To which the consumer complained that they didn’t have time to read it. So now the government is allowing ample time to read notifications. So read the notifications.
The $8000 tax credit is not just for first-time buyers anymore. If you have not had an ownership in a home (nor your spouse) for the last three years, you qualify!
The $8000 tax credit does not have to be paid back! When the credit was first introduced, it did have to be paid back…but not anymore!
Dawn Judge is a REALTOR® with Coldwell Banker United Realtors® in Mooresville, NC. Contact me with your real estate questions 704-929-2261 email dawn.judge@cbunited.com
Last night I went to a party at a gorgeous waterfront home in Mooresville, NC (A.K.A. Race City, USA). We had a lot of fun…laughing at those brave enough to try the karaoke machine! And watching the kids swim in the pool that changes colors!
This home is for sale. Wow, if only I could afford to buy it! I can share with you my first impressions…
We drove through a very nice community of custom homes, along a winding road with mature trees and foliage. No two homes were alike. We pull up to the house. Mature trees are speckled along the front yard near the roadway, offering a feeling of privacy. The home is set back from the road, nestled along the waterfront of Lake Norman, in Mooresville, NC. The front yard is extensive with a very long concrete driveway.
The home is a grand, light brick home. As we strolled up the drive, the interior lighting winked a golden glow of anticipation and promise. I wanted to go straight to the front door and see all of the interior immediately…but the party was out back and I guess we should be polite and say hello to everyone! We walked around to the backyard gate…
The lower level was set up for our party…food and drinks, etc. A nice kitchenette lended itself perfectly to our purposes! I suppose this is considered a basement…but it is the lightest, brightest walkout basement that I’ve ever seen! The west wall (closest to the lake) is mostly glass and glass doors. A full tournament-sized billiard table is at one end and a huge living area is at the other end. Well, I just cannot wait anymore! I must take a tour of the main level. I notice the restroom at this level was occupied! Now was my chance! Feigning the need, I asked for directions to the next bathroom. (I’m sure the homeowner would have given me a personal tour, happily…but it is so much more fun this way!) I started up the light, golden oak staircase, which is accented with decorative iron spindles and a wooden handrail.
On the main level, the stairway spills into an open hall with cathedral ceilings. Beautiful golden rays spill from the canned lighting onto the oak floors flowing throughout the main level! To the left of the staircase are two bedrooms, each with it’s own entry into a large, elegant full bathroom. These rooms are lavishly decorated for house guests. (I later learned that the lady of the house used to be an interior decorator! No wonder!)
The living area, kitchen and casual dining area have enormous walls of windows to look out at the beautiful view of Lake Norman. In fact, one thing that impressed me was that the wall of the dining area was made entirely of glass! Beautiful dark cabinetry, granite countertops and stainless steel appliances lend the kitchen a romantic quality. The tiled backsplash is accented with small decorative metal inlays. Three beautiful drop chandeliers are suspended over the center of the granite bartop.
The living area has a magnificent trey ceiling! There is a decorating niche that goes the entire length of the room above the built in bookcases and entertainment center. And most importantly, the wall of windows overlooking Lake Norman! Do you see a theme emerging?!
The formal dining area is very stately, punctuated by the white columns and the especially tall trey ceilings (20 ft?).
Cross over the large foyer to the huge home office. The office entry is very large, wall-sized, glass doors. And, of course, the giant windows overlooking the lake. (I ask you…Who could get work done in here? I’d be daydreaming all day!)
At that point, I just poked my head into the master bedroom suite…I didn’t want to be THAT nosey! I rejoined the party and was talking to some other girls about the gorgeous house and they both said, “Did you see the master bathroom? No?! Oh, you have to see it! Come on!” The three of us went back in and oh my gosh, they were right!
The master bedroom suite takes up the entire depth of the home. You could probably fit four king sized beds in the master bedroom! The west wall is mostly glass, again taking full advantage of the lake view! The gigantic bed resides under an enormous double trey ceiling. Where the wall meets the ceiling a slant begins and connects to the trey. On this slanted ceiling, the homeowner has installed a large flat screen tv, perfectly situated for comfortable viewing from bed.
O.K. girls, let’s go into the master bathroom! But we must not call it a master bathroom! It is a master paradise! The words “Grecian Paradise” come to mind! My husband would never be able to get me out of that bathroom!
The entry to the master “paradise” is situated in the center of the bedroom/bathroom wall. Directly across from you is a gorgeous, grandiose jetted bathtub, set in a marble encasement the entire depth of the room! Gorgeous white columns frame the grand bath. A huge, one-way picture window is centered over the bath, for privacy.
I’ll be honest, the rest of the ‘paradise’ bathroom is a bit of a blur because I was so awestruck by the grecian luxury of the bathtub! I can imagine soaking in there, bubbles overflowing onto the floor…candles flickering, their gentle aroma filling the air! Aaahhh! The stresses of the day just slip away!
There is a huge, glass-encased tumbled tile shower, two equally gorgeous sink vanities. A customized…and I mean customized!…walk-in closet runs the entire length of the “paradise” room, from the entry wall to the picture window wall, and vaulted ceiling to floor!
Wow! Absolutely gorgeous! Take a peek!
Check out the Real Estate for sale in CHARLOTTE and surrounding areas…
Mooresville, Lake Norman, Troutman, Denver, Cornelius, Huntersville, Salisbury, Statesville, Sherrills Ford, Union Grove, etc.
704-929-2261 or email dawn.judge@cbunited.com
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704-929-2261
email: dawn.judge@cbunited.com 
Meet me on Facebook, LinkedIn, Twitter and WordPress
First time homebuyer tax credit February 2009
MAKE SURE YOU CONSULT YOUR ACCOUNTANT!! O.K. that’s my disclaimer!
Dawn Judge is a licensed real estate broker with Century21 Hecht Realty in the Lake Norman area of North Carolina. Contact me with your real estate questions.
704-929-2261 or email djudge@c21hecht.com
The four property restriction per investor has been eased a bit. Now investors can have up to 10 properties!
The average person might say, “So, what? How does that help me?”
It will help our economy in numerous ways. The most important way, in my opinion, is that it will help get the foreclosures off the current housing market. Once the foreclosures are off the market, our home values will increase.
I can already see an increase in buyer/investor activity. Thank goodness! Investors, do your thing!
Read what my Broker-in-Charge thinks.
Dawn Judge is a Broker with Century21 Hecht Realty in Mooresville, NC. Call or email me with your real estate questions. 704-929-2261 or djudge@c21hecht.com
Todd Long BIC Century21 Hecht Realty
