Archive for May, 2010

Aiken, South Carolina Housing Market

Friday, May 28th, 2010

The Aiken County housing market is clearly a dynamic one.  While other markets have been hard hit, Aiken County has experienced a fairly stable market and has provided an environment for industry and homebuilders to establish roots.
Constant employment is a large factor in the overall stability of a real estate market.  In Aiken County, Savannah River Site, Aiken Regional, Bridgestone Firestone, and Kimberly Clark have provided an established job market to keep our housing market firmly fixed.  Recently, MTU Detroit Diesel Inc and MCA Media located their businesses in Aiken County, specifically in Graniteville.  These industries have projected that they will bring approximately 450 jobs to the Aiken County market.
Adding to the overall stability of the housing market are new home developments that have allowed entry level homebuyers a place to call home.  Trolley Run Station and Sage Creek are two communities providing a place for builders to construct homes for the bulk of the homebuying market, which is currently $100,000 – $200,000.
New home buyers have experienced a market unlike any other.  Historically low interest rates and construction costs along with tax credits have made the new home market very active.  The new home market has made up 30% of all home sales since January.  However, the Aiken County market for existing homes is still a very positive one.  Making up 70% of all home sales since January, existing home sales have remained steady due to realistic pricing, with cost per square foot comparable in some cases to the very active new home market.
For further information on the Aiken County market, please contact Denise Fulmer at our S.C. office located on Laurens Street in the heart of Aiken.  803-643-1018.

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Home Buyer Tax Credit Extended for Military

Tuesday, May 18th, 2010

HOME BUYER TAX CREDIT EXTENDED FOR MEMBERS OF THE MILITARY, THE FOREIGN SERVICE AND THE INTELLIGENCE COMMUNITY

Good news for members of the armed forces, foreign services and intelligence community! Congress has provided for an extension of the Home Buyer Tax Credit for active members of the military, foreign service and the intelligence community who meet the following exceptions that apply to the $6500 tax credit for repeat home buyers and the $8000 tax credit for first-time home buyers. The extension guidelines for the Tax Credit and the Exemption guidelines for the Recapture Rules are as follows:

Exemption From Tax Credit Recapture Rules

  • Typically, homes that are sold or that cease to be used as a principal residence within three years of the initial purchase are subject to the recapture of the tax credit
  • However, qualified service members who sell or move from a tax credit home within three years of the initial purchase due to official extended duty are exempt from the recapture rule.

Extension of Tax Credit Deadlines

  • The home buyer tax credit is available for qualified purchases with a binding sales contract in place on or before April 30, 2010 and closed by June 30, 2010
  • However, for qualified service members who are ordered on a period of official extended duty outside of the United States, these dates are extended for one year. For these home buyers, the tax credit applies to sales with a binding sales contract in place on or before April 30,2011 and closed by June 30, 2011
  • A person who is forced to return to the U. S. for medical reasons before completing an assignment of at least 90 days of qualified official extended duty outside of the United States during the period beginning after December 31, 2008 and ending before May 1, 2010 may qualify for the one-year extension

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Armed Forces Day Celebration

Thursday, May 13th, 2010

Armed Forces Day Celebration

Downtown Augusta will have a party this weekend. Thunder over Augusta returns to Celebrate Armed forces Day. Now in its third year, this festival will have something for everyone including a fireworks show over Augusta’s Riverfront.

The events this year take place between the Augusta commons and our riverfront. The entertainment starts at 2pm with a Car show and wraps up with the Fireworks.

Blanchard & Calhoun Salutes our Military on Armed Forces Day. Admission is free, so come and join us Saturday for some family fun

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