All real estate agents are NOT alike! Find out why we are top real estate experts. Call Andrea: 919-260-8163 or Peter: 919-593-6696

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First Time Homebuyers: Chapel Hill, Carrboro and Durham North Carolina home buying, real estate listings, and homes for sale in County, NC

Welcome > For Buyers > First Time Homebuyers ...

Buying Your First Home? Real Estate Agents Are Your Professional Guides. Make Sure You Choose Top Experts.

You might be a bit afraid or intimidated by the whole process of buying your first home. As top Chapel Hill, Carrboro and Durham real estate experts, it's our job to guide you, from beginning to end.

We will take the time to go through each and every step of the buying process. There are no dumb questions!

Together, we will consider:

- How much can you really afford?

- How to qualify for a mortgage.

- How much cash you should put down.

- How to buy a home with little or nothing down.

- What it takes to get approved for financing. What banks and other financial institutions are looking for.

- How much your payments will be.

- The tax advantages of buying.

- Is renting or buying better for you?

Tell us a bit about your situation below. We'll get right back to you. There is absolutely no charge, and we offer this to you with no strings attached.

New to the home buying process? Tell us your concerns. Ask us questions. It's our job to help! There's no obligation, and we promise to get back to you quickly...

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Tax Considerations >New 1031 Exchange Rules

One of the most popular "tax deferring" strategies for real estate owners who are selling one property and acquiring another is the use of Section 1031 of the Internal Revenue Code. It is an effective way to defer paying income tax on capital gain generated by the sale of a property when you intend to reinvest the proceeds in a similar, "like-kind" property. Almost any kind of real property is considered "like-kind" with any other real property.

A recently enacted law closes what was considered a loophole in the Section 1031 rules. In some cases, owners of investment real estate have used the 1031 Exchange to swap their investment property for real estate that could be readily converted to an owner-occupied residential property. After the exchange, they made the property into their principal residence, lived in it for a couple of years, then sold it. Now the American Job Creation Act of 2004 has ruled that properties converted from a 1031 exchange property into a residence must be held and used as a principal residence for at least five years to qualify for the tax exemption. Otherwise, the basic tax-deferring benefits of 1031 exchanges remain the same.

Consult your tax advisor for more detailed information.

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Q	What area in the U.S. is known for its pre-civil war mansions?
A	Natchez, Mississippi boasts over 500 pre-civil war-style mansions; many are open to the public as museums.
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The Owens Team, REALTORŽ, real estate agents and broker for Chapel Hill, Carrboro and Durham North Carolina home listings, property and land for sale - NUMBER1EXPERT(tm)

The Owens Team
RE/MAX, Winning Edge
1526 East Franklin Street, Suite 101
Chapel Hill, NC 27514
Phone: 919-260-8163
Phone: 919-593-6696
Office Phone: 919-869-8400
Fax: 919-869-8399
Fax: 919-869-1563
Email: owensteam@NUMBER1EXPERT.com
The Owens Team.....Working Over Time For You. When you work with Us, you really get the best of both worlds. We are native to the Triangle, North Carolina area but have moved multiple times across the US. We know the area and we know what you are going thru when you are relocating into or out of the area. We work together giving you double the coverage. We have two sets of ears, eyes and twice the energy as a single agent. We provide old-fashioned service with a new generation attitude. We are old school when it comes to exceeding expectations but we are new school when it comes to new techniques and technology. Let Us show you the power of RE/MAX and the power of Our Tested Buyer and Seller services.

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