Nov
1
How Are You Going to Vote?
Posted by greensboro under For Buyers, For Realty Professionals, For Sellers, Greensboro, Regional News, Tax Credit, Things To Do
Tomorrow is election day here in Greensboro, NC and throughout the nation. Have you decided how you are casting your votes? If you’re like me, you may not even know all of the candidates and referendums on your ballot!
But there is no need to hit the voting booth uninformed or to skip the voting booth entirely! If you are a registered voter in Greensboro or any where throughout the great state of North Carolina, you can obtain a sample ballot before visiting the polls. Just visit the North Carolina Board of Elections website for for a sample ballot so you can find out about the candidates and issues before tomorrow. For those of you in Greensboro, visit the Guilford County Board of Elections website for all of our local information.
Still have questions? Check out the Guilford County Voter’s Guide for links to many candidate websites, endorsements and more information. Now I just have one remaining question. What is a Soil and Water Conseration District Supervisor?!?
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Sep
23
North Carolina, Do You Have Money To Burn?
Posted by greensboro under For Buyers, For Sellers, Greensboro, Regional News, Tax Credit, Things To Do
North Carolina residents, do you have money to burn? You may be doing just that if you are wasting electricity with incandescent light bulbs, a drafty house or poor insulation. If you are a North Carolina customer of Duke Energy, they have some free and low-cost offers to help reduce your energy costs.
Free Home Energy House Call Receive a free home analysis of how you can make your home more energy efficient. The energy specialist will check your home for air leaks, examine your insulation levels and review your appliances and heating and cooling systems. The energy specialist will also provide you with a free Energy Efficiency Starter Kit, which he or she will be happy to install during the home energy audit. Small changes and improvements can equal big savings on your energy bill.
Free Compact Flourescent Lights (CFL) You may be eligible for 12 free CFLs from Duke Energy. According to their brochure, you will save $360 when you replace 12 incandescent light bulbs with 12 CFLs ($30 savings per CFL).
Power Manger Save $32/year on your energy bill by participating in the Power Manager program. As a Power Manager participant, you agree to have a device installed on your air conditioner that may temporarily interrupt your air conditioning but the fan will continue to run to cool your home. Air conditioning is very rarely cycled off during the evenings, weekends or holidays.
Smart $aver Receive $200 cash rebate for installing an energy-efficient heating or cooling system in your home. Also, save energy costs in the future with your new energy-efficient equipment.
Want to save even more money while selling or buying your home in Greensboro, NC or throughout the Triad? Contact any of the members of Team Leung!
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Aug
6
School Supplies Lists for Guilford County Schools, NC
Posted by greensboro under For Buyers, For Sellers, Greensboro, Regional News, schools, Tax Credit, Things To Do
With the North Carolina tax-free weekend in full-swing, make sure you go to the stores with your student’s back-to-school supplies list in hand. Although some stores, such as Target, WalMart and Walgreens may have some of the lists available, many schools have also posted them on their websites. Check out the Guilford County School’s List of Schools page on their website. Once there, just click on the name of your student’s school and follow the links to the school supplies lists. With some schools requiring long lists of supplies, it is prudent to shop the sales and save on sales tax this weekend!
Guilford County Schools is the public school system serving Greensboro, NC, and other communities throughout the Triad, including High Point, Jamestown, Summerfield, and Oak Ridge.
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Aug
4
Running Shoes On? It’s Almost Time for the Tax-Free Weekend Sprint!
Posted by greensboro under For Buyers, For Sellers, Greensboro, Regional News, schools, Tax Credit, Things To Do
If you live in Greensboro or any other part of North Carolina, this is the weekend to lace up your running shoes and get ready for some serious shopping. Starting this Friday, August 6, many back-to-school essentials will be exempt from sales tax. With our current tax rate nearing 8%, that can add up to some real savings. In addition, many stores offer incredible savings to save consumers even more. 
Here are some of the details:
- The Sales Tax Holiday begins Friday, August 6 at 12:01 a.m. and continues through Sunday, August 8 at 11:59 p.m.
- Clothing, footwear and school supplies of $100 or less per item are included.
- School instructional materials of $300 or less per item are included.
- Also included are sports and recreation equipment of $50 or less per item, computers of $3,500 or less per item and computer supplies of $250 or less per item.
- Some exemptions include clothing accessories, jewelry, cosmetics, wallets, and furniture. Here is a complete list of exempt items.
See you at the stores!
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Jun
1
New NC Appliance Rebate Program Starts Today!
Posted by greensboro under For Buyers, For Sellers, Greensboro, Regional News, Tax Credit, Things To Do
If you live in North Carolina and are considering a new HVAC system or appliance, check out the NC Rebate Program, which started today! Many stores in Greensboro are offering sales on appliances to generate even more savings!
The NC Rebate Program offers rebates on energy-efficient replacement refrigerators, dishwashers, hot water heaters, central air conditioners and more. Please review the complete list of eligible appliances. The amount of rebate varies from $75 to $300, depending on the appliance purchased.
This is a continuation of an appliance rebate program offered for a few days in April. During those three days, consumers earned $7.8 million in rebates. This program will disperse the remaining $1 million in funds and then it will be over so you will need to act very quickly if you would like to participate!
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Apr
19
North Carolina Rebate on Applicances!
Posted by greensboro under For Buyers, For Sellers, General Information, Tax Credit
Need to update your appliances? Renovating your kitchen or just tired of that old washing machine that shakes the house? North Carolina is offering rebates for Energy Star appliances purchased starting this Thursday, April 22 through Sunday April 25.
Here’s the skinny on the North Carolina Energy Star Appliance Replacement and Rebate Program. There are 430 retailers across the state, including many in Greensboro, NC and throughout the Triad. The rebates will be 15% of Energy Star rated appliances. Many stores will be offering additional discounts on top of the rebates. Refrigerators, dishwashers, clothes washers and freezers are eligible for the program. You can receive more than one rebate but it only one rebate for each type of appliance. For example, you may receive rebates on a dishwasher and close washer but not two freezers.
The program is timed to coincide with Earth Day because replacing old, inefficient appliances saves energy. It is estimated that almost 50,000 appliances will be purchased during these four days. This will equate to enough energy savings to power approximately 540 homes for a whole year. There may be a second rebate program in June, if funds are available. The second program may include additional types of appliances.
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Mar
12
What’s the Deal With Mortgage Rates?
Posted by greensboro under For Buyers, For Sellers, General Information, Tax Credit
Let’s face it. Learning how mortgage rates are determined is about as interesting as watching grass grow. However, home loans are the biggest form of debt for most people and taking a few minutes to learn about interest rates can save you thousands of dollars. Here is a quick, very informative and easy-to-understand video sent to me by Steve Barrow of Mortgage Choice, Inc., here in Greensboro, NC. http://mortgagemarketguide.com/howratesmove.html
Current homebuyers, I implore you to spend seven minutes watching this. There are several compelling reasons why buyers should be extremely motivated to purchase a home now. In the video, it states that the Federal government will end its purchase of mortgage bonds at the end of March. It does an excellent job of explaining why this will result in interest rates rising. I would also add that the tax credits for new and existing homeowners ends April 30. We do not believe that this program will be extended again. We have agents ready to help you today! Call our office at 336-508-1111 or email us at team@teamleung.com. Don’t miss this once-in-a-lifetime opportunity to move into your dream home!
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Dec
1
Current Homeowners Alert! Now is Time to Buy!
Posted by greensboro under For Buyers, For Sellers, General Information, Tax Credit
Current homeowners in Greensboro, have you heard about the new $6,500 tax credit just for you? Now is the time to move to a bigger or smaller home and receive a credit of up to $6,500! Empty nesters, is your house too big? You can take advantage of this new tax credit because the house you buy does not have to cost more than your current house! Young families, is your little family growing? This credit is for you too.
Here are the rules for this tax credit:
- You must have a contract on your new home by April 30, 2010 and it must close by June 30, 2010.
- The price of the new home is capped at $800,000. No credit is allowed for houses above this price.
- You must have lived in your current home for five consecutive years of the past eight. So if you owned a home for the past eight years but moved out two years ago and are renting it, you are eligible. But if you lived in it for two, rented it out for three and then moved back in for three, you have not met the requirement. Five consecutive years is the important factor to keep in mind.
- The tax credit begins to phase out for those who are single with a modified adjusted gross income of $125,000 and for those who are married filing jointly with a modified AGI of $225,000.
- Buyers must be 18 years old and may not claim the tax credit if claimed as a dependent on someone else’s tax return.
- You must submit proof of purchase, such as a HUD-1 form.
- The tax credit is not eligible if you purchase a home from your spouse or your spouse’s lineal relatives.
Homes priced about $250,000 have really lagged the last couple of years and the first-time homebuyer credits have not helped this price range. This new tax credit, with the increase in allowable adjusted gross income coupled with the elimination of the requirement to be a first-time homebuyer, has the potential to make a huge impact on these higher priced homes. Call Andy, Lisa, Kelly or Heather today to learn more about this tax credit and how we can get you into your dream home before time runs out!
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Nov
6
First-Time Homebuyer Credit Extended and Revised
Posted by greensboro under For Buyers, For Sellers, General Information, Tax Credit
Congress passed an extension of the First-Time Homebuyer Credit. It is expected to be signed by President Obama this morning. The new bill has some more generous provisions than the original law. It increases the allowable adjusted gross income to $125,000 for single taxpayers and to $225,000 for those filing married filing jointly. Added to this bill is a $6,500 incentive for current homeowners who have lived in their current home for at least five years. For a side-by-side comparison of the current law and the new law, click on the National Association of Realtors logo below.
The $8,000 credit was due to expire at the end of this month but will now continue through June 30, 2010. Here in Greensboro, we have seen an increase in home sales for houses priced below $200,000. Perhaps with these new incentives for existing homebuyers who want to move into a bigger home, we will see home sales in this market increase, as well. Check with any member of Team Leung for more information. www.GreensboroAreaHomes.com.
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Jul
29
IRS Information about the Tax Credit
Posted by greensboro under For Buyers, General Information, Tax Credit
The IRS now has specific information posted about the $8,000 tax credit for new homebuyers. There are certain requirements and qualifications that every first-time homebuyer should know. Here are some of the highlights:
- You must stay in the home for 3 years
- The maximum credit is 10% of the purchase price of the home, with a cap set at $8,000
- You can qualify as a “new homebuyer” if you have not owned another principal residence during the last three years
- There are income limits. For individuals, the credit is phased out beginning at a modified adjusted gross income of $75,000. For married couples filing jointly the income limits are $150,000
- You must close on your home by December 1, 2009
For complete information, visit the IRS website: http://www.irs.gov/newsroom/article/0,,id=204671,00.html
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