The Boone real estate market and the Blowing Rock real estate markets are currently experiencing a buyers market unlike anything we’ve seen in many years due primarily to higher than normal inventory levels in almost every price range.
Through December 2009, first-time home buyers are assisted by an $8000 refundable tax credit which helps out like never before. The credit is “refundable” meaning even if a buyer does not owe $8000 in taxes in 2009, they receive a refund for the difference. The credit applies to homes bought in 2009 as long as the purchase price is greater than $80,000. (Purchasers of homes less than $80,000 receive a credit equivalent to 10% of the purchase price.) Full details on the tax credit are availlable at www.irs.gov.
Home prices in the Blowing Rock real estate market and Boone real estate market have not lost value like so many other areas of the United States…likely because they never saw huge jumps in “appreciation” just prior to the current housing decline across the nation.
While other areas of the country have been left wondering when their market will “bottom out”…the NC High Country areas of Blowing Rock and Boone have seen very little, if any dip in prices. A strong market would seem to be a great place to continue (or begin!) investing.
Contact me if I can help!
Lisa
Tags: Boone Real Estate, Buy Boone NC Real Estate, buyer's market, First-time Home Buyers, Tax Credit for First-time Home Buyers