Experience the Briar Chapel Lifestyle

Throughout the year, Briar Chapel invites my clients to amazing events that give them a taste of what life is like in the community. Past events have included a Sustainable Living Event that featured a cooking demonstration by executive chef of The Fearrington House Restaurant and Country Inn as well as a Wellness Event with the University of North Carolina Wellness Center.

Most recently, we celebrated the 17th annual National Trails Day with guided tours of the trail system in Briar Chapel by the Triangle Off-Road Cyclists (TORC) followed by a cookout and pool party.

If you are interested in participating in upcoming events planned for this summer, and experiencing the Briar Chapel lifestyle, please contact me to start receiving invitations.

Trail and Art Guide Maps Now Available

Already, over six miles of trails are now open at Briar Chapel. As I've mentioned in previous posts, there will eventually be about 24 miles of trails throughout the community. These will include a mixture of single-track mountain biking trails, boardwalks, paved or mulched walking trails, and sidewalks.

If you are interested in exploring the trails, I suggest you stop by the Information Center and pick up a copy of the new Trail and Art Guide. The free guide illustrates the best routes to see the community’s new art installations, including “Art in Nature” added in spring 2009. When you do, please be sure to let the great folks there know I sent you!

Once you've had a chance to explore the trails, I encourage you to consider helping the Triangle Off-Road Cyclists (TORC) build the emerging network of mountain biking trails in Briar Chapel. They are doing a wonderful job, and deserve everyone's support.

See you on the trails!

First-Time Homebuyers Take Advantage of Tax Credit

A number of first-time homebuyers have already taken advantage of the tax credit when purchasing a home in Briar Chapel, and so can you!

In case you haven't already heard, Congress recently approved an $8000 First-time Homebuyer Tax Credit for principal residences purchased between Jan 1st and Dec 31st, 2009, with no requirement for payback. Since I'm often asked about this tax credit, I thought I would share some of the most frequently asked questions here:

1) Who is eligible for the tax credit? Only first-time homebuyers are eligible. Someone is considered a first-time buyer if s/he has not had any ownership interest in a home in the three years prior to the day of the 2009 purchase.

2) How much is the incentive worth? Any home that is purchased for $80,000 or more qualifies for the full $8000 credit. Otherwise, if the home costs less than $80K, the credit will be equal to ten percent of the purchase price (i.e. $7500 credit on a $75K purchase).

3) How does the tax credit work? Every dollar of the tax credit reduces your income tax by a dollar. All you have to do is claim the credit on your individual income tax return. In other words, a qualified purchaser would first calculate their total tax due and then reduce this amount by the applicable credit. For example, if someone has a tax liability of $8,500 and is eligible for the full $8000 credit, they can reduce the total tax due to $500. In the event that someone is eligible for the full credit, but they entire tax liability for the year is only $6500, then the IRS would send them a check for $1500.

4) How do I apply for the credit? There is no pre-purchase authorization, application or similar approval process. Eligible homebuyers simply claim the credit on their tax return. The credit will be reflected on a new Form 5405. Visit the IRS website for more details.

PLEASE NOTE: I'm a real estate broker, not a financial advisor! Therefore, I strongly encourage you to talk with a CPA or tax specialist if you have any questions or concerns about this program and its impact on your tax liability. Otherwise, if you'd like to put the credit to good use, and purchase a home in Briar Chapel, I'm here to help!

Briar Chapel Wins Six MAME Awards

Briar Chapel was a big winner at this year's MAME Awards (Major Achievements in Marketing Excellence) from the Triangle Sales and Marketing Council of the N.C. Home Builders Association. They took home top honors in each of the following categories: Best Advertising Campaign for a Master-Planned Community, Best Web Site for a Master-Planned Community, Best Community Information/Welcome Center, Best Community Ad for a Newspaper, Best Community (On-Site) Signage, and Best Brochure.

This competition recognizes local advertising, marketing, merchandising and product design efforts as well as sales volume. Honor recipients included area builders, developers, advertising agencies, graphic firms, interior design firms, landscaping firms, sales professionals and sign and display designers/fabricators. Winners of these coveted awards are recognized as leaders in the industry, providing cutting edge solutions to the home building industry. Kudos to the entire team at Newland for this accomplishment!