FREE Homebuyer’s Seminar in Boiling Springs

One of my preferred Lending Professionals is holding a home buying seminar right here in Boiling Springs at the library on Double Bridge Road.  The First Time Home Buyer and the Existing Home Buyer Tax Credits are set to expire on April 30, 2010.

The word on the street is that they will not be extended again this time.  Interest rates are set to start rising at the end of March about a half a point and about 1.5 points by the end of this year.  The current LOW interest rates and the unique tax credits available make NOW the best time to buy a personal residence since most people can ever remember.  The tax credit expiration rush is just beginning now and if it is anything like the buying rush we had in October of 2009 the best deals will sell the fastest.

The take away from all this is that if you know of anyone who is considering buying a home make sure they know the facts and trends.  My business is based on referrals from satisfied clients because I tell it the way it is and then do my best to for them.  Of course you only want to send your friends and family to people you can trust.  I work hard to be that person.

Here is Joyce Smith’s invitation for her Home Buying Seminar:

Have you always dreamed of owning your very own home, but you aren’t sure about your credit record?

No worries!  We are offering a FREE Homebuyer’s Seminar that is totally focused on finding hope and professional direction to be able to own your own home and experience the American Dream!

There will be TWO seminars available for you to attend!

Tuesday, March 9, 2010 – 6 to 8 PM – Boiling Springs Library

871 Double Bridge Rd, Boiling Springs

OR

Thursday, April 1, 2010 – 6 to 8 PM – Spartanburg Library: Main Branch

151 South Church Street, Spartanburg

Seating is LIMITED so call Rob Turchetta at 864-583-1995 to reserve your seat!

We look forward to seeing you there!

Finding and Buying Foreclosed and Distressed Real Estate

I’ve been asked a lot lately about buying Spartanburg foreclosures and Boiling Springs foreclosures. Was there an infomercial running on late night tv recently that I missed? I did hear one on the radio how you can get a 4 bedroom 2.5 bath house with over 2,500 square feet for only $3,500 US dollars! Wow what a deal. I’ll take a few of those thank you!

That last ad was in reference to local county tax auctions by the way. Anyway, the Boiling Springs and Spartanburg area has recently been listed as the #2 real estate market in the country. However, as stable as our housing market has been that is not to say there isn’t a deal to be had now and then. Below is a re-post of a foreclosure report I wrote about 2 years ago that is just as valid today as it was then.

One truth to real estate is that the best deals sell the fastest. What appears to be a great deal to you probably appears to be a great deal to somebody else as well. Will “somebody else” get to that deal before you do? Read more..

Red Fox Farms Subdivision Home

(UPDATE:  This home was sold in 2 weeks after being listed for 6 months with a large national Realty company)

 

If you don’t live in the Upstate of South Carolina you just might not know what you are missing.  Mild seasonal climates. Light snow falls maybe 1 to 3 times a year.  Extended fall and spring seasons with only the lightest of jackets needed.  That is until you get spoiled like us!

Even our housing is enviable to many across our great nation.  With very low taxes for owner occupied homes and low prices to match.  Take this home for instance:  3 bedroom 2.5 bath home with larger bonus room, over 2,400 SF for only $149,900.  This is not a foreclosure!  This is a move in ready home.  Freshly painted walls, new carpet, counter tops, and appliances.  Just unload the boxes out of the truck and most of the work is done with this home. Read more..

Owner Finance in Boiling Springs Sterling Estates

Rare opportunity to owner finance a home in the Sterling Estates subdivision in Boiling Springs.

Price is only $239,900

Monthly Payment $1,600 (includes tax & insurance!) and is negotiable

Amount down negotiable

Click here for:  148 Gossamer Drive in Boiling Springs SC full Details

This 3 bedroom, 2.5 bath 2,590 Square Foot home has an attached, side entry garage, fenced in backyard, side walks that go straight to the community pool and a nice balcony of the master bedroom suite, and that is just the exterior of the home!

Here are some photos and a link to more information on the cottage style home in Sterling Estates Boiling Springs .  Call if you would like to see as it won’t last long. 

First Time Home Buyer Tax Credit Details for Spartanburg

First-Time Homebuyer Tax Credit Here are the latest details on the government sponsored tax credits for new home buyers and existing home owners living in their current Spartanburg and Boiling Springs area residence for 5 consecutive years over the last 8 years. Read and use the links below to learn about this potentially valuable resource.  If you have any additional questions feel free to call me for help.

Updated Nov. 6, 2009, to reflect new legislation — more to be added soon New Legislation New legislation, the Worker, Homeownership and Business Assistance Act of 2009, which was signed into law on Nov. 6, 2009, extends and expands the first-time homebuyer credit allowed by previous Acts. The new law: Extends deadlines for purchasing and closing on a home. Authorizes the credit for long-time homeowners buying a replacement principal residence. Raises the income limitations for homeowners claiming the credit. Under the new law, an eligible taxpayer must buy Read more..

Home Buyer Tax Credit Extension

Stay tuned for final word but the UI bill including the home buyer tax credit extension and expansion has passed the House by a vote of 403-12 after passing the Senate last night 98-0. Realtors sent over half a million letters to Congress and it looks like the grassroots effort has paid off.

The new provisions take effect as soon as President Obama signs the bill, which we expect will be before the weekend. I’m including below some questions about the new credit:

1.  Existing homeowner credit:  Must the new house cost more than the old house?

A.  No.   Thus, for example, individuals who move from a high cost area to a lower cost area who meet all eligibility requirements will qualify for the $6500 credit.

2.  I am an existing homeowner.  On October 25, 2009, I signed a contract to purchase a new home.  I have lived in my current  home for more than 5 consecutive years and am within the new income limits.  I will go to settlement on November 20.  If President Obama has signed the bill by the time I go to settlement, will I qualify for the new $6500 tax credit?

A.  Yes.  The existing homeowner credit goes into effect for purchases after the date of enactment (when the bill is signed).   There is no reference to the date of contract for the new credit. The provision looks solely to the date of purchase, which is generally the date of settlement.

3.  I am a first-time home buyer but was not within the prior income limits at the time I entered into my contract to purchase on October 30, 2009.  I will be covered, however, by the new income limits.  If the new rules have been signed into law by the time I go to settlement, will I be eligible for a credit?

A.  Yes.  The new income limitations go into effect as soon as the President has signed the bill.  The income limit and other eligibility rules will look to your status as of the date of purchase, which is the settlement date.  So if the new rules have been signed when you go to settlement, you should be eligible for the credit (or a portion of the credit if you’re within the phase-out range).

4.  I am an eligible existing homeowner.  I have a fair amount of equity in my home.  I have found a home with a non-negotiable price of $825,000.  Will I be able to use any of the $6500 tax credit?

A.  No.  The $800,000 cap on the cost of the purchased home is firm at $800,000.  Any amount above $800,000 makes the home ineligible for any portion of the credit.  The $800,000 is an absolute ceiling.

5.  I owned my home for 10 years, but sold it two years ago year and have been renting since.  If I purchase a home, will I be eligible for the $6500 tax credit if I meet all the other eligibility tests?

A.  Yes.  Because you lived in the home for more than 5 consecutive years of the previous 8, you will qualify for the $6500 credit.  For example, Say John and his wife bought a home in 2000 and lived there until 2008 when he got a divorce. Whether John has been renting or bought in the interim, he WOULD INDEED be  eligible for the credit because he owned a home and occupied it as his principal residence for 5 consecutive years out of the last 8 years. The keyword here is “consecutive.” As long as he lived in that house for 5 years straight, what he did since 3 years doesn’t impact eligibility.

6.  I am an eligible first-time home buyer.  I entered into a contract to purchase on November 1, 2009.  Do I have to go to closing before December 1?  How does the extension date affect me?

A.  You do not have to close before December 1.  Once the legislation has been signed, it will be as if the Nov 30 date had never existed.  Therefore, so long as the contract settles before April 30 (or July 1, worst case), the purchaser will be eligible for the credit.

Feel free to call me with additional questions.

School Teacher Discounts

Introducing a new Professional Educators discount for Full Service Real Estate services.  If you are a school teacher in Greenville, Spartanburg, or Cherokee county you will be reimbursed $250 at closing for buying or selling property with us. Just reference the Educator’s discount coupon here at the time of agreement.

The thinking person scratches their head at some of the priorities in our society.  Politicians seem to all be millionaires instead of the peer group in and out public servant the position was designed to be for.  Education administers make much more than school teachers.  All the while the really valuable, human impacting careers, like classroom school teacher, is low on the income totem pole.

As an independent business person and a father of a child in the Boiling Springs district 2 school system I love to work with people who have integrity and a good work ethic.  Most school room teachers clearly fit that description and I am proud to offer this incentive to them.  Please reference the  School Teacher Discount when calling me at 864-621-7900.

Boiling Springs MLS

This Boiling Springs real estate search site is like the city having it’s own MLS service to look for homes or investment property.  If you have not checked it out, search for Boiling Springs SC foreclosures, homes, and investment real estate here.

The search site has recently been updated with explanations of each search category at the bottom of the page.  These categories include:

Single Family Homes

Government Foreclosures

MLS Foreclosures

Town Houses

Condominiums

Lots

Land

Mobile Homes

Multi-Family Properties

Commercial Real Estate

Again, these categories are updated everyday.  Call me for a list of Boiling Springs homes offering Owner Financing at 864-621-7900.

First Time Home Buyer Tax Credit Spartanburg & Boiling Springs Area

Sales in the Spartanburg MLS have been spiking up this entire week. Why? We are approaching the expiration of the First Time Home Buyers Tax Credit for Spartanburg.

The First Time Home Buyers Tax Credit expires on November 30. That is significant news now in early October because once you find a house you like it generally takes 30 days for the lender to organize the paper work to close the loan!  Therefore November 30 minus 30 days equals October 31.  But wait, banks are taking longer to close now so 40 to 45 days is not unusual!  This means that your Boiling Springs lenders need to start processing your loan on about October 15 2009.  That gives home owners 2 weeks to find the home of their dreams and with everyone trying to beat the same deadline competition for the best Spartanburg and Boiling Springs homes is heavy.

If you would like to buy a home in Spartanburg county and have not owned a home in the last 3 years give me a call and we will find you one right away.  With many homes on the market and prices better then they have been in a long, long time, the time to buy a Spartanburg home has never been better.

Here is some information on the First Time Home Owner Tax Credit.  Hurry, it is almost over.

Owner Finance Boiling Springs Home

As many Boiling Springs and Spartanburg homeowners face foreclosure or damaged credit for a variety of reasons sellers offering owner financing is becoming more and more common.  Owner financed homes in Boiling Springs range from expensive luxury homes to affordable simple homes to everything in between.

I’d like to highlight one Boiling Springs Owner Financed home here:

1088 Wilkins Ford Road, Inman, SC

For just a $467/month payment that INCLUDES your principle, interest, taxes, and insurance, you can own a 2 bedroom 1 bath home on 1 acre with a large shed equipped with electric. At a cost this low it rarely makes sense to rent and have nothing left to show for your money at the end of the month. By owning and financing your own home part of each payment goes to payoff the amount owed on the home.  This is called your principle payoff. If you decide to sell the home at some point you can pocket the difference between what you sold the home for and what you still owe on the property.  This is called realized equity.

For this Boiling Springs Owner Financed Home, or should we say Inman Owner Financed Home the land alone is worth at least half the selling price.  It is 1.01 acres of level, flat land.  Water and electric utilities are already run to the land and a septic tank is already installed.  These are costs often not thought about but connecting water service to your land can be thousands of dollars alone.

If your tired of paying rent but have credit problems or just keeping a budget consider this home before it is gone.  Oh yea, and owner financed homes also qualify for the First Time Home Buyers Tax Credit set to run out on 11/30/09.  Call me for help in finding an owner financed home in any price range.  Search for homes in Boiling Springs SC here.

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