Archive for June, 2010

Military Families Still Eligible For Tax Credit

Kathy Riggs June 26th, 2010

If you have been listening to the national news the past few days you are probably already that housing sales dropped in May. Much of the drop can be attributed to the tax credit deadline of April 30, 2010. To be eligible for the tax credit a buyer had to be under contract by April 30 and close by June 30.
However, there is very good news if you are a member of the United States military or one of another class of federal employees who have been serving overseas. You have until April 30, 2011 to be under contract in order to qualify for the tax credit.
Let me share this information from the IRS website:
Members of the military and certain other federal employees serving outside the U.S. have an extra year to buy a principal residence in the U.S. and qualify for the credit. Thus, an eligible taxpayer must buy, or enter into a binding contract to buy, a principal residence on or before April 30, 2011. If a binding contract is entered into by that date, the taxpayer has until June 30, 2011, to close on the purchase. Members of the uniformed services, members of the Foreign Service and employees of the intelligence community are eligible for this special rule. It applies to any individual (and, if married, the individual’s spouse) who serves on qualified official extended duty service outside of the United States for at least 90 days during the period beginning after Dec. 31, 2008, and ending before May 1, 2010. So don’t despair if you didn’t find that dream home before you or your spouse went overseas. You have more time to look!
And if you are house hunting and didn’t find the right place prior to April 30, historically low interest rates are available. As of Friday lenders were sharing these rates with Realtors: Conventional: 30 year fixed: 4.375; 15-year 3.875; FHA 30-year fixed: 4.375 and USDA (100 percent financing), 4.75. Please remember interest rates are constantly changing, check with your mortgage officer for the latest updates.
With qualified military personnel still eligible for the tax credit and the historically low interest rates, it’s time to go house hunting!
on the lighter side…
An agent walked into the company manager’s office and requested a raise in his commission because three companies were after him. “Which companies are that,” asked the manger. The agent replied, “the gas company, the electric company and the phone company.”
SHAMELESS PLUGS
Looking for a look of space at a great price? I have just listed a house at 1501 Hardee Road, Kinston NC. Call me at 252-939-2432 or email me at kriggs@kathyriggs.com for more information.

Fly and Respect Our Flag

Kathy Riggs June 13th, 2010

June 14 is a special day that deserves recognition although it often gets lost because we don’t close our offices and head to the beach as we do on Memorial Day and the Fourth of July.
Occurring always on June 14, Flag Day is the day Americans should pay particular attention to the Flag of the United States and the republic for which it stands.
Nicknamed “the Stars and Stripes” and “Old Glory”; the Flag evokes strong emotions from people of various political persuasions. There are those who tolerate no abuse, and there are those who think the First Amendment gives then the right to burn the flag as an expression of free speech. While legal arguments may fall favorably on those who think burning the flag is a protected right of expression, I prefer to align with the idea that the symbol of our country should be revered. If someone can only express himself or herself by burning the Flag, they certainly don’t have much to say.
Respecting the Flag is simple. Don’t let it touch the ground or floor, ever. When it passes by during a parade or the National Anthem is played at a sporting event, rise and place your right hand over your heart. Military personnel and veterans may give the military salute. If the flag is displayed against a wall the union should always be place in the upper left corner. If displayed at a meeting the Flag should be placed at the speaker’s right. With the upcoming Fourth of July, stores will be stocking paper products with patriotic themes. Replicating the Flan on paper plates and napkins is an inappropriate way to show your patriotism. The Flag was meant to endure, not to be discarded as trash. Stick with the red, white and blue colors.
It is appropriate to display the Flag at night with proper illumination. And if you are flying the Flag at home don’t let anyone tell you that you can’t, even if you live in a subdivision or planned community with restrictive covenants. The Freedom to Display the American Flag Act of 2005 prohibits any condominium association, homeowners association or real estate management association from prohibiting the display of the American Flag.
While June 14 is designated to honor the Flag, let all of us practice proper flag etiquette every day of the year. By respecting the Flag we honor those who sacrificed for the country and the privilege of the idiots to claim their right to burn Old Glory is protected.

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