Grade school children attend Providence Springs Elementary, ranked the
#1 elementary school in NC. Crestdale Middle School is among the few public schools in NC to achieve a “`10” rating, according to Great Schools.org. High school students attend Providence HS, the highest performing high school in Charlotte-Mecklenburg’s school system.

Neighborhood amenities include Providence Plantation Racquet and Swim Club. Membership is very affordable and offers residents of the community a great way to meet others who enjoy similar activities.

Approximately 3 miles away you will find The Arboretum. A popular destination for shopping, restaurants, movies, and live outdoor music. Home to popular chain stores, as well as merchants unique to the area.

Sightings of wildlife, passing through, can be seen both day and night. It is not unusual to see a family of deer cross your path. During the spring and summer, rabbits can be regularly spotted, much to  the delight of young children.

Looking for a wonderful community with good resale value, home prices to fit many budgets, miles and miles of walking paths, tennis and swim club,easy commutes to the most popular spots and great schools? Check out Providence Plantation!

Qualification Period : First-time home buyers who bought after January 1, 2009 and before April 1 2010 (with closing to take place before July 1, 2010), would get the $8,000 home buyer tax credit. For the purposes of claiming the tax credit, the purchase date is the date when closing occurs and the title to the property transfers to the home owner. This is an update from the original November 30th 2009 deadline. If you and your spouse claim the credit on a joint return (both of you must meet the income and past ownership criteria to qualify). Each spouse is treated as having been allowed half of the credit for purposes of repaying the credit. So the total amount claimable is still only $8000 (up to April 30th 2010).

Income qualification limits: The home buyers’ credit would be available to individuals with a modified adjusted gross income (MAGI) of up to $125,000, or $250,000 for couples, up from $75,000 for individuals and $150,000 for couples under the original rules. The higher income limits are only for homes purchased after Nov. 6, 2009. That is, the existing MAGI phase-outs of $75,000 to $95,000 or $150,000 to $170,000 for joint filers still apply to purchases on or before Nov. 6, 2009. Those with incomes higher than the above limits do not qualify for any part of the tax credit.
*NEW* Current Homeowners looking for a replacement primary residence could also qualify for a $6,500 (up to $3,250 for a married individual filing separately) under the new “long-time resident” provision. They must have lived in the same principal residence for any five-consecutive year period during the eight-year period that ended on the date the replacement home is purchased. This new provision also only applies to homes purchased after Nov. 6th 2009.
Claiming the new home buyer credit: For qualifying purchases, taxpayers have the option of claiming the credit on either their 2009 or 2010 return. A new version of Form 5405, First-Time Home buyer Credit, is available on the IRS website. Taxpayers claiming the credit on their 2009 returns, will not be able to file electronically but instead will need to file a paper return by using the new version of Form 5405. A taxpayer who purchased a home on or before Nov. 6 and chooses to claim the credit on an original or amended 2008 return may continue to use the current version of Form 5405.
- The new $8000 credit can be used towards the down payment of a house bought in the credit qualifying period. You need to work with your lender to take advantage of this provision.

- Tax Credit Exclusions:
1. You must be 18 years or older to qualify.
2. Your homes cannot cost more than $800,000.
3. You have to use the home as your main residence for 3 years. If you stop you will have to repay the credit.
4. You cannot claim the credit if acquired your home by gift or inheritance OR if you acquired your home from a related person
If two or more unmarried individuals buy a main home, they can allocate the credit among the individual owners using any reasonable method. The total amount allocated cannot exceed the smaller of $8,000 or 10% of the purchase price. Note: A reasonable method is any method that does not allocate all or a part of the credit to a co-owner who is not eligible to claim that part of the credit (I would go with 50/50 as a reasonable method if one person is not eligible for the credit)

- The purchase date is how you decide which credit you are eligible for. Only homes purchased from Jan 1 2009 to April 1st 2010 are eligible for the fully refundable $8000 credit. If you constructed your main home, you are treated as having purchased it on the date you first occupied it.

Members of the Armed Forces and certain federal employees serving outside the U.S. have an extra year to buy a principal residence in the U.S. and still qualify for the credit. An eligible taxpayer must buy or enter into a binding contract to buy a home by April 30, 2011, and settle on the purchase by June 30, 2011.

The location of The Arlington is spectacular, and skyline views from its floor-to-ceiling glass condos are phenomenal.

Most importantly, The Arlington is priced exceptionally!  The Arlington is also an iconic building in SouthEnd, which is known to most locals as “the pink building”  (better buy one before Paris Hilton does- ha!).   The Arlington has urban appeal and dramatic skyline city vistas. Parking is also very convenient at The Arlington for residents and guest.  There is an attached parking garage with 24 hr security, which also has parking for retail. The Arlington also features a Rooftop Pool and Fitness Center.

The units at The Arlington are 1 and 2 bedrooms, all with balconies, 10 foot ceilings and floor-to-ceiling glass windows with spectacular views.  Units are currently priced from the low $160,000 range!

The Arlington is next to Charlotte’s Light Rail, Uptown, Dilworth and the Dowd YMCA.

Click here for more information and directions.

On November 6, 2009, the $8000 First Time Home Buyer Tax Credit deadline was extended until June, 2010 (along with a new tax credit offer of $6,500 to existing homeowners), and now the market has begun to move forward again. Please see the document below for details on how these tax credits may be applied.

The general thinking is that the returning strength in the market is at entry price levels and as this price level firms up the next higher price level will begin to strengthen in sequence too.

National real estate coach, Zan Monroe (www.zanmonroe.com), reported in this month’s monthly Ninja coaching session that, according to statistics furnished by the National Association of Realtors, when a seller sells their home they “buy up” by 50%. This means that a homeowner who sells their home for $300,000 will buy their next home for $450,000. Zan also noted that most sellers select a new home which is less than 4 miles form the home they previously sold.

For more information got to my website: Curt Seifart

Click on the image or link below to see my detailed summary: 

September 2009 Charlotte Real Estate Market Activity Report