SarahGray Lamm ~ Chapel Hill / Carrboro / Durham Real Estate Blog ~ Agent Outlier

Beautiful Townhome ~ Near UNC Park & Ride ~ SOLD! The Seller is Moving Onward and Upward!

This seller doesn't want the best buying opportunity in decades to pass her by either so she is offering her beautiful townhome at a steal in order to make this a WIN WIN for both of you!

If you have been waiting to find the right place before you check out your eligibility for the Federal $8000 Tax Credit,  CHECK IT OUT NOW! This could the home you have been waiting for!
You must close before December 1, 2009 to get the tax credit if you are eligible and typical closings take about 45 days now. Don't waste another minute!

Click the Camera icons on the floorplan below to see more photos!

Let’s just say you’ve been sitting around thinking now might be a good time to find a really great house so you have the perfect little corner to put your Christmas tree in this year. Or maybe Halloween is your thing and answering your own door all dressed up to scare small children is a bigger incentive. (Hey, it’s your fun we’re talking about here, not mine.) Maybe 2009 is the year you offered to host the entire family for a good old fashioned Thanksgiving feast. The only thing you know for sure is you want a Chapel Hill or Carrboro address!

We don’t have a lot of time left to get you hooked up. If we start this weekend, just about the time we get you to closing you’ll be buying the pumpkin for the front porch! But what do you need to get started? Let’s assume for the sake of argument that you:

A) Have a job.

B) You have some savings.

And C) you have a credit score above 720.

Sweet! If you qualify for the $8,000 First Time Homebuyers Credit which will expire on Nov.30, 2009. Even sweeter. (Now don’t go assuming this credit is only available if you have NEVER owned a home before. Not true. Read the link for more information.)

If you meet the above criteria and you have between $4375 and $11,712 in savings you need to keep reading because you may be on your way to happy homeownership! (Just so you know – I picked these numbers because that gives you the 3.5% required down payment for an FHA loan which cannot exceed $334,650 in the Carrboro/Chapel Hill market and as of today, the least expensive stand alone home available here is on the market for $125,000.

Here’s what we can look at which meets the following general criteria:

Chapel Hill or Carrboro address / Available as of 06AUG09 / Detached (not a townhome or condo)

~Between $125,000 and $175,000, requiring a down payment of $4375 to $6125, there are 11 properties ranging from 795 sq.ft. to 1943 sq. ft. 9 of them have had price reductions. Most (but not all) need some TLC.

~Between $179,000 and $200,000, requiring a down payment of $6265 to $7000, there are 13 properties ranging from 796 sq. ft. to 1525 sq. ft. 2 of them have price reductions. Most of them are sweet little homes, not a fixer-upper among them!

~Between $205,000 and $235,000, requiring a down payment of $7175 to $8225, there are 20 properties ranging from 1300 sq. ft. to 2205 sq. ft. (There is one at 832 sq. ft. but that skews the picture.) There are 9 which have had price reductions. Most of these are one story homes, a couple are brand spankin’ new and a couple have pretty large lots!

~Between $239000 and $260000, requiring a down payment of $8365 to $9100, there are 13 properties ranging from 1262 sq. ft to 2200 sq. ft. 4 have had price reductions. There is some really sweet stuff in this group! More of them are two stories, one is a fixer-upper and one is a 2 FOR 1 deal!

~Between $262000 and$281000, requiring a down payment of $9170 to $9835, there are 18 properties ranging from 1120 sq. ft to 2496 sq. ft. 11 have had price reductions. Now we’re talking some really great neighborhoods and this includes one pre-foreclosure.

~Between $285000 and $319000, requiring a down payment of $9975 and $11165, there are 21 properties ranging from 1430 sq. ft to 3030 sq. ft. 11 have had price reductions. There are several contemporaries and a few that will get you into a much more expensive neighborhood. There’s even a new construction pre-sale! In this range you will be getting upgrades…granite counters are common.

~Between $323000 and $345000 (gotta leave a little wiggle room at the top end and still try to get under the FHA maximum) requiring a down payment of $11305 to $11712, there are 24 properties ranging from 1350 sq. ft. to 3208 sq. ft. 12 have had price reductions. Now we are talkin’ great neighborhoods, some new construction options, some large acreage and loads of upgrades!

Anything feel do-able? Don’t forget that the $8000 tax credit, if you qualify, can be had pretty close to immediately if you want to amend your 2008 tax return. This might mean you have a parent ready to gift you the little extra you need to move up a notch and you can pay them back before too long! Keep in mind this does NOT include townhomes or condos and if Southwest Durham is an option, the world is your oyster!

What next?!?!

CALL ME, TEXT ME, FACEBOOK ME, whatever works for you…I’m sitting here with my calendar ready to get you started! Oh, my phone is ringing…gotta go...it might be you….