March 8, 2010

$8,000 can mean the difference between buying and renting, especially for first time homebuyers. With the generous tax benefit still in effect, homebuyers have an opportunity to own the home of their dreams - and possibly a new construction home from Southern Development!

As most are aware, the $8,000 tax credit deadline for first time homebuyers has been extended into 2010. As long as buyers have a binding contract by April 30, they will have until the end of June to close the transaction and be eligible for a one-time credit of up to $8,000.

In addition to first time buyers, current homeowners are eligible for a $6,500 tax credit, provided they have resided in their homes as a principal residence for five consecutive years within the last eight years.

Income limits for eligible buyers were increased from $75,000 to $125,000 for single buyers and from $150,000 to $225,000 for married couples.

But the time to take advantage of this financial opportunity is drawing near. Southern Development, with 10 years experience in the local market, stands ready and able to help homebuyers take advantage.

"We have some great properties that are in move-in condition and located in some of the area's best locations," said Frank Ballif, owner of Southern Development. In Laurel Park, for example, "The Ashton", a 2,300 square foot home is priced well within first time homebuyers' budgets and will be ready for June 30th delivery.

Sales Manager, Tim Parent, says that this 3-bedroom home comes with 2.5 baths and a finished basement with the option of a study and bath. "The main levels have hardwood floors," Tim noted. "The model includes appliances and recessed lighting throughout. We have four similar homes that will also be available. If buyers act quickly, we can still make some custom changes."

Laurel Park is located in Albemarle County, in the heart of Hollymead Town Center. Dining and shopping are within walking distance. Less than a mile from the Charlottesville-Albemarle Airport, a short distance from NGIC and UVA North Fork Research Park, and yet still only a short drive to downtown Charlottesville.

At Brookwood and Country Green, Judi Antrobus, Sales Manager, states that four lovely homes will be available by June 30. "In Brookwood, we still have 2 town homes starting at $199,900," Judi said.

"Both have 3 bedrooms and 2.5 baths with hardwood floors on the main level. These would be perfect for UVA hospital employees, for example, or anyone needing proximity to downtown." The Brookwood homes - in attractive Arts & Crafts styling - are located off 5th Street in the City of Charlottesville.

In Country Green, two single-family homes are available at prices starting at $279,900. Both have 3 bedrooms and 2.5 baths with hardwood floors on the main lev el. Country Green is convenient to the University of Virginia, but offers the lower tax rates of Albemarle County.

Other tax credit oppportunities are available at Sycamore Square, with two luxury Villa homes starting at $189,900, each with 3 bedrooms, 2.5 baths and 1,400 finished square feet. Alexis Sipfle, Sales Manager, notes that The Berkshire, a single family home, sits on a 0.5 acre lot and offers approximately 2,300 sf of living space with 3 bedrooms, 2.5 baths and a full unfinished basement. The home comes with hardwood floors, ceramic baths and maple cabinetry. And priced at only $299,900!

Sycamore Square is located just 20 minutes from Charlottesville near Lake Monticello. Community amenities include expansive walking trails, a picnic pavilion, and a community fitness center coming soon.

Even more tax credit opportunities are available at Pavilions at Pantops with prices starting from $269,900. Rebecca White, Sales Manager, currently has 7 beautiful homes that are available by June 30. These quality built Southern Development town homes are Arts & Crafts designs located on Pantops Mountain, just minutes from Downtown Charlottesville, I-64, UVA and Martha Jefferson Hospital.

Each home offers 3 bedrooms, 2.5 baths, hardwood floors and granite counters. The selection of beautiful homes from Southern Development is extensive with an on-site staff ready to help you get in a new home in time to take advantage of up to $8,000 in tax savings.

For more information, call Southern Development at 434-245-0894 or go to www.southern-development.com.