http://www.youtube.com/watch?v=yk7zqcyZfgU

http://www.youtube.com/watch?v=IMzTpn3FvA8

A mortgage banker is the local lender who would handle your entire loan start to finish. They are the ones pulling your credit report, issuing you a pre-approval letter, and handling the entire loan process start to finish. A mortgage broker does all of these duties except once they qualify you and gather all of your info they in a sense become the matchmaker between finding you a lender to handle the loan. They shop around for you and find the best deal out there which at the time may seem like a pretty good deal. The truth of the matter is even though they are finding you a great interest rate and saving you money they also need to get reimbursed in some fashion. My overall point is that although they may save you some money, in the long run it may be more beneficial to have someone local and easy to meet when you have questions or concerns. The savings in my opinion do not outweigh the ability to meet face to face with your mortgage banker.

This leads me to my case in point which was the basis for my opinion. My latest closing consisted of a client choosing a mortgage broker whom a relative had used in the past. Long story short our closing was postponed 2 weeks total and there was more confusion on the lenders part than I have ever encountered. From this point on I thought it valuable to educate my current and future buyers about these two different parties. Please feel free to contact me via email at matt@donnaandcompany.com or cell phone 252-571-9089 should you have any questions about getting started with a local preferred lender!

"Bernaroo began as a way to raise money for community projects", says Allie Runne, a then 17 yr. old who, with  friends and members of the teen council group through the City of New Bern, known as YAAC, brainstromed this exciting event. Allie also joined forces with the Student Musician Songwriters at NBHS, New Bern Parks and Recreation Department as well as Broad Street Music, who are actively involved this year as well.

Come celebrate Music and the Arts in downtown New Bern this Saturday and be sure and bring Dad along, for an excellent way to spend the weekend!

Last month, several wonderful women and some special men, gathered together to help build two Habitat Houses in our local community. The Women’s Build was a successful day full of many projects to be completed. Included were; installing a roof, “wrapping” a house with energy efficient wrap, installing windows, finishing a porch, hanging siding and painting interiors. Volunteers from all over the area, were hammering, sawing and painting, including local churches, Keller Williams ® Realty agents and amazing volunteers. There is an on-going need for female volunteers to help build a home from the foundation up. Please consider giving your time and talent to this amazing effort and help well deserving families in our area.

Read more from the news release from the Department of Housing and Urban Development

The Carteret Softaball season kicked off about 2 months ago and our team has managed to only lose 3 games to this point, posting an impressive 10 wins and 3 losses. The games are played at Swinson Park in Newport City and also at Freedom Park in Beaufort on Monday and Wednesday evenings ranging from 6pm being the earliest games until 9:45pm being the last games of the evening.

It truly is fun for all and we would love any and all support from fans. If you have any interest in joining on a softball team or wish to simply come out and join the fun please contact me at matt@donnaandcompany.com or you can call me at 252-571-9089. PLAY BALL!!

We have all heard bits and pieces of this new mindset but what actually is driving this new healthier consumer?   As we show houses today we are getting a strong sense that people want more efficient homes. We get questions like "Are these windows double paned?"  "Can you get me copies of last years utility bills?", and so forth.

The average American home size has doubled since the 1950's.  Today an average home size is 2349 square feet, with huge master bedrooms, walk-in closets, offices, and media/play rooms.  Why the trend toward larger houses when families are getting smaller???  Large homes use more resources, wood and building supplies.  They also consume more energy to heat and cool.

United States Emissions alone represent 22% of the world's total.  17% of greenhouse gases are residential, 18% are commercial, and 36% are industrial with 28% being transportation.  (Inman News May 2009).

The term "going green" refers to recyclable or renewable resources and the conservation and controlling of those resource costs.  The growing trend is toward homes nearer to work, shopping, and leisure, in more walking-friendly environments.

An agent with a "Green" certification or a certified EcoBroker is a specially trained real estate agent who can answer client questions about costs related to energy -efficient features.  Whether solar panels, low E glass, or the new spray foam insulation instead of the traditional kind, Realtors® today are staying up on the latest "green" trends.

Although the green movement is catching on and people are becoming more aware, some consumers are still distracted by the glitz and glamour of their dream homes and cars.  You will see, though, that the trend of the future is "Less, Not More" and"Give me enough".  The McHomes will fall out of favor as the current economy drives home "wants versus needs."

So be on the lookout for new information about keeping our world healthier.  As more and more people jump on this bandwagon, you will see that we really can make a difference!

Trent Woods April 2009 Real Estate Update
(From Neuse River Region Board of Realtors® New Bern MLS System)

Homes for Sale:  64
$100K-$199,999 - 13
$200K-$299,999 - 14
$300K-$399,999 - 18
$400K-$499,999 - 9
Over $500,000 - 10

Homes Sold (Pending):  7
$100K-$199,999 - 1
$200K - $299,999 - 4
$300K-$399,999 - 1
$400K-$499,999 - 1

Homes Sold and Closed: 2
$100K-$199,999 - 2

Average Sale Price - $147,000
List to Sale Ratio - 94%
Average Days on Market - 33

(April 1-30, 2009)

Keller Williams Realty in New Bern has chosen to raise "Literacy Awareness" with an exciting childrens' event at Union Point Park and Gazebo, in downtown New Bern, NC from 2-6 pm. We are collecting  children's books and monetary donations to benefit our local Little Red Bookmobile.

Click on the flyer below to see all the FUN things the children can enjoy and all the details of this awesome event!!

                                                         RED Day

Those in attendance were furiously jotting notes and learning details about this incredible tax credit, available only to buyers until the end of November of 2009. Historically, there has never been a better time to purchase your first home. Sellers are offering incredible incentives; the inventory is high, and the interest rates have never been better! There is a lot of information regarding this advantageous credit; please feel free to email me at Gina@DonnaandCompany.com, if you would like more detailed information on this "hot" topic.

In any event, it is a constant reminder that Spring is here and that change is imminent.  The present economy brings us back to a simpler time and slows us down to think rather than to react.  Impulse buying seems to be a thing of the past as people carefully weigh "what's really important..." 

The buzz in the real estate community centers on the 2009 Homebuyer Tax Credit.  It is said that the Gen X and Y (ages 18-43) buyers will save this housing market.  As they enter into the housing market, they don't have a home to sell first.  This is the kick that the experts hope will get the housing market back on track.

I went to the North Carolina Association of Realtors® website for the most frequently asked questions about this homebuyer tax credit. I've provided them here so you too can be well informed.  Always remember, when making one of the single most important investments of your life you should consult a local Real Estate professional as well as your other trusted advisors such as your CPA and Attorney. 

So now you know! If you see our streets filled with young couples hand in hand or pushing baby carriages, the 2009 tax credit helped those first time home buyers fulfill their "American Dream".

First-Time Homebuyer Tax Credit: Frequently Asked Questions

1. What's this new homebuyer tax incentive for 2009?

The $7,500 repayable credit introduced in 2008 is increased to $8,000 and the repayment feature is eliminated for 2009 purchasers. Any home that is purchased for $80,000 or more qualifies for the full $8,000 amount. If the house costs less than $80,000, the credit will be 10 percent of the cost.

2. Who is eligible?

Only first-time homebuyers are eligible. A person is considered a first-time buyer if he/she has not had any ownership interest in a home in the three years previous to the day of the 2009 purchase.

3. Is there an income restriction?

Yes. The income restriction is based on the tax filing status the purchaser claims when filing his/her income tax return. Individuals filing Form 1040 as single (or head of household) are eligible for the credit if their income is no more than $75,000. Married couples who file a Joint return may have income of no more than $150,000.

4. Do individuals with incomes higher than the $75,000 or $150,000 limits lose all the benefit of the credit?

Not always. The credit phases out between $75,000-$95,000 for singles and $150,000-$170,000 for those married and filing jointly. The closer a buyer comes to the maximum phase-out amount, the smaller the credit will be. The law provides a formula to gradually withdraw the credit. Thus, the credit will disappear after an individual's income reaches $95,000 (single return) or $170,000 (joint return).

5. Are there restrictions on the location of the property?

Yes. The home must be located in the United States. Property located outside the U.S. is not eligible for the credit.

6. Are there restrictions related to the financing for the mortgage on the property?

In 2009, most financing arrangements are acceptable and will not affect eligibility for the credit. Congress eliminated the financing restriction that applied in 2008.

7. How do I apply for the credit?

There is no pre-purchase authorization, application or similar approval process. All eligible purchasers simply claim the credit on their IRS Form 1040 tax return. The credit will be reflected on a new Form 5405 that will be attached to the 1040. Form 5405 can be found at www.irs.gov.

8. So I can't use the credit amount as part of my down payment?

No. Congress tried hard to devise a mechanism that would make the funds available for closing costs, but found that pre-funding would require cumbersome processes that would, in effect, bring the IRS into the purchase and settlement phase of the transaction.

9. What if I purchase later this year but can't get to settlement before Dec. 1?

The credit is available for purchases before Dec. 1, 2009. A home is considered as "purchased" when all events have occurred that transfer the title from the seller to the new purchaser. Thus, closings must occur before Dec. 1, 2009, for purchases to be eligible for the credit.

10. I know there is no repayment requirement for the $8,000 credit. Will I ever have to repay any of the credit back to the government?

One situation does require a recapture payment back to the government. If you claim the credit but then sell the property within 3 years of the date of purchase, you are required to pay back the full amount of any credit, including any refund you received from it. A few exceptions apply. Note that this same 3-year recapture rule applies, as well, to the $7,500 credit available for 2008. This provision is designed as an anti-flipping rule.

11. What if I die or get divorced or my property is ruined in a natural disaster within the 3 years?

The repayment rules are eased for many circumstances. If the homeowner who used the credit dies within the first three years of ownership, there is no recapture. Special rules make adjustments for people who sell homes as part of a divorce settlement, as well. Similarly, adjustments are made in the case of a home that is part of an involuntary conversion.

Source: North Carolina Association of Realtors®

Trent Woods March 2009 Real Estate Update
(From Neuse River Region Board of Realtors® New Bern MLS System)

Homes for Sale:  63
$100K-$199,999 - 11
$200K-$299,999 - 17
$300K-$399,999 - 19
$400K-$499,999 - 8
Over $500,000 - 8

Homes Sold (Pending):  6
$100K-$199,999 - 3
$200K - $299,999 - 2
$400K-$499,999 - 1

Homes Sold and Closed: 3
$200K-$299,999 - 2
$300K-$399,999 - 1

Average Sale Price - $273,333
List to Sale Ratio - 95%
Average Days on Market - 270

(March 1-31, 2009)