Senate Extends Date on Home-buying Tax Credit

"The U.S. Senate today approved a measure extending the closing deadline to Sept. 30 for home-buyers attempting to take advantage of the federal tax credit.

The National Association of Realtors estimates that 180,000 buyers who met the contract deadline of April 30 would not be able to close their transaction by the June 30 deadline.

Association members have reported as many as one-third of qualified applicants - who could get a credit of as much as $8,000 - have been notified by lenders that their mortgages will not close because of the sheer volume of applications in the pipeline.

Senate Majority Leader Harry Reid tacked the extension to a bill extending jobless benefits through the end of November.

The measure now has to go to the House."

- Alan J. Heavens, Philly.com

For more information on the homebuyers tax credit, please contact Henderson Properties!

10 Questions to Ask a Home Inspector

"1. What are your qualifications? Are you a member of the American Association of Home Inspectors?
2. Do you have a current license? Inspectors are not required to be licensed in every state.
3. How many inspections of properties such as this do you do each year?
4. Do you have a list of past clients I can contact?
5. Do you carry professional errors and omission insurance? May I have a copy of the policy?

6. Do you provide any guarantees of your work?
7. What specifically will the inspection cover?
8. What type of report will I receive after the inspection?
9. How long will the inspection take and how long will it take to receive the report?
10. How much will the inspection cost?

We would be happy to recommend Home Inspectors in the area that we have used in the past with great results."
~ Source: Rick Frissell, Florida's Beautiful Homes

For more home buying tips, please contact one of Henderson Properties agents!

Neighborhood Spotlight: Midwood

"Rapidly becoming one of the most popular neighborhoods in Charlotte, Midwood has the perfect balance of the charming Southern neighborhood and the exciting lifestyle of an Uptown locale. Just a stone’s throw away from Charlotte’s downtown area, the characteristic Craftsman and cottage-style homes bring the right blend of classical style and unique flair. Midwood is one of Charlotte’s most well-known Historic Districts, and a drive down The Plaza will showcase this effect to its credit. The beautiful Van Landingham Estate and its surrounding gardens are a perfect example of the beauty that you can find in Midwood.

Many of the homes are situated on city lots that are usually about a quarter of an acre. There are a number of streets that have much larger lots - some up to close to an acre. The curving quiet streets of Midwood are lined with sidewalks and it is hard to find an evening when they aren’t filled with neighbors with baby strollers and happy dogs.

Take a stroll down to the central business district, where there are cool furniture shops, a tattoo parlor or two, Nova Bakery and the “No Grease Honey” barber shop. You’ll also find a public library, the local Harris Teeter grocery store, post office, and an art supply shop in an old church. Even your dog will be happy for a visit to Commonwealth Animal Hospital, one of the city’s few animal chiropractor and acupuncturist. They’ll also love You Dirty Dog, a self-serve dog wash with cool accessories for your best friend.

Do you have a craving for some Southern comfort food? You must try Dish, a popular local hotspot. Don’t miss the chicken and dumplings or the meatloaf served with a deviled egg and butter-topped biscuit. The neighborhood’s favorite diner, Penguin, is famous for its fried pickles, hand-dipped corn dogs and their “Hemi Burger”. Ask for it Southern style - that’s with chili, slaw and onions for a true taste of the South.

If you want the perfect balance of city life and the warm intimacy the South is famous for, look no further than Midwood! Homes range in price from the mid $150's to well over a million."

~ Source: SavvyAndCompany.com

For more homes for sale, please visit Henderson Properties website!

Tax Credits Boost New-Home Sales in April‎

"Sales of newly built, single-family homes surged 14.8 percent to a seasonally adjusted annual rate of 504,000 units in April as consumers rushed to beat the deadline for expiring home buyer tax credits, according to data released by the U.S. Commerce Department today. This was the strongest level of new-home buying activity since May of 2008.

“Clearly the home buyer tax credit program, which concluded at the end of April, was successful in getting the housing market moving again by helping many families achieve the dream of homeownership,” said Bob Jones, chairman of the National Association of Home Builders (NAHB) and a home builder from Bloomfield Hills, Mich. “Now that the program is over, other great buying incentives continue – including exceptionally favorable mortgage rates, very attractive home prices and the steadily improving economy – so there is good reason to expect the positive momentum to continue.”

“The surge of buying activity we have seen in the final two months of the tax credit program has been very encouraging, and has helped builders work down their standing inventories to near historic lows,” said NAHB Chief Economist David Crowe. “It stands to reason that this activity will level off over the next few months, as sales that would have occurred during that time were likely pulled forward to meet the April deadline. That said, today’s favorable home buying conditions, the recovering job market and reviving consumer confidence should help take the place of tax incentives to generate buyer demand.”

Three out of four regions posted substantial gains in new-home sales in April; the Midwest registered a 31.6 percent gain, the South, a 10.8 percent gain, and the West, a 21.7 percent gain. The Northeast posted no change in sales activity from the previous month.

The nationwide inventory of new homes on the market fell 5.8 percent to 212,000 units in April, its slimmest measure since October of 1968. Meanwhile, the month’s supply at the current sales pace declined from 6.2 in March to a modest 5.0 in April, the lowest since November of 2005." ~ Source: NAHB.org

For more news on home buying in Charlotte, please contact Henderson Properties!

SouthPark Land Back in Play

An undeveloped 10.5 acres of choice SouthPark land is getting new life.

Charlotte-based developer Lincoln Harris and Atlanta-based Reynolds Capital Group have formed a joint venture to develop the land, across from Piedmont Town Center on Fairview Road.

The companies are studying what to do with the property.

Reynolds Capital Group bought the land from LNR Property Corp. in August 2008. Miami-based LNR had proposed building condo towers, apartments, stores, restaurants and hotel rooms in a pedestrian-friendly village called South Fair Plaza. The developers had hoped to start construction in summer 2007 on the project, estimated to exceed $200 million.

In December, Moody's warned that declining income from LNR's loan investments could leave the company needing cash, and in risk of defaulting on roughly $890 million in debt LNR owes its lenders. The real estate giant has a growing collection of bad real estate loans for projects across the county and has been unloading some of its debt, according to news reports.

Reynolds Capital Group bought the property using a $175 million fund that focuses on the Southeast. Lincoln Harris said it will be responsible for all planning, marketing and development.

Lincoln Harris' vice president of development, Alex Kelly, said the company is in a study mode, and will "take a step back" and look at the market conditions to determine the property's best use.

He declined to provide other details, such as when the company might develop the land, except to say that the company wanted to make people aware that the property "is in play again."

"I have had a long standing relationship with the principals of Reynolds Capital Group and all of us at Lincoln Harris are excited to be partnering with them on a project that is in keeping with the character of the SouthPark community," President and CEO Johnny Harris said in a statement.
~ Source: CharlotteObserver.com

If you are looking for homes for sale in Southpark, NC, please contact Henderson Properties!