Today I am featuring the Inman Park Community in North Raleigh in “Midtown”.

Inman Park is a planned subdivision of 156 single-family custom homes and 96 town homes in an area called The Enclave,

The Inman Park Community Association maintains a swimming pool and cabana, street lighting, architectural standards, and the landscape on common property. The Enclave Association performs the same duties for the town homes. The two Associations maintain the swimming pool jointly.

Inman Park is a popular Raleigh neighborhood perfectly located close to every modern convenience you could wish for: large lakes, country clubs, major shopping destinations and other amenities like hospitals and highways.

Inman Park connects with Raleigh’s expansive greenway network, the Capital Area Greenway System, leading you to Shelley Lake in one direction and Crabtree Creek in the other, so you can easily discover the area.

Carolina Country Club and North Hills Club are two popular private golf courses just minutes from Inman Park. Established in 1910, Carolina Country Club remains popular to this day, with tennis facilities, a spectacular golf course, and swimming pool. North Hills Club is also a premier destination for golfing and social events.

Other nearby points of interest close to Inman Park include:

• Crabtree Valley Mall,
• Laurel Hills Park,
• North Hills Shopping Center,
• Sertoma Art Center,
• Umstead State Park

Browse real estate details and see homes for sale in Inman Park.  You can also explore other Triangle Area Neighborhoods.

Today’s Featured Property is an Executive Residence located in the Millrace Subdivision in Wake Forest.   This property is situated on a gorgeous almost 3 acre lot with a pond and an in-ground fabulous pool and cabana.                            The following description of this property is from the Seller:

Executive home listed in Wake Forest NC with only county taxes!!   For great pics, floor plan and the virtual tour go to 5209 Mill Dam Rd.   4458 square feet, brick, hard to find large first floor master (with sitting area + his & hers walk-in closets); 4 bedrooms; flex room easily a 5th bedroom; 3 full bath and 2 half bath; very private 2.86 acres in the much sought after Millrace subdivision (the hidden jewel of Wake Forest); 20 x 40 in-ground pool with rim of fiber optic lighting and surrounded by a beautiful stamped concrete patio in backyard oasis; pool house with half bath, mini-fridge plus separate sink & outdoor hot water shower; 2nd separate patio area off the master bedroom perfect for a hot tub; partially covered large deck with direct access to master bedroom and kitchen both; open and airy floor plan with very large foyer, dining room, living room with fire place flanked by large built-in bookcases, and kitchen with breakfast bar + gathering area / sunroom + eat in area + built in desk and pantry; 42 inch maple cabinets create tons of storage space amid beautiful granite countertops; soaring ceilings throughout the home – up to 14 feet; upstairs includes very large bedroom, large bath, (perfect for a teen suite or in-law suite), flex room, small theatre room (or second flex space), workout area with 2 skylights, 9’x5′ pool table, wetbar & 2nd fireplace, large walkup floored storage area; huge front porch; side entry 2 car garage; turnaround driveway; over 100′ of private access to semi-private pond that spills over picturesque 100+ year old stone waterfall next to community gazebo; the Millrace subdivision consists of 50 truly executive custom homes on large private lots built around 4 interconnecting spring fed ponds for private fishing, kayaking, and observing nature.  Many things convey with the home including all pool equipment, pool table, workout gym, air hockey table, ping pong table, basketball goal and more. Rounding things out are excellent Wake County schools, less than 5 minutes from shopping and restaurants, low HOA dues of only $285/yr and believe it or not…..so much more.  

Pond View

Pool House

5209 Mill Dam Rd., Wake Forest NC 27587

In the last few years, some people who were unable to sell their homes, rented them instead. The market has improved in most places and the home may easily sell now and possibly, for a higher price.

Most homeowners are aware that there is a capital gain exclusion on the profits of a principal residence of up to $250,000 for single taxpayers and $500,000 for married taxpayers filing jointly. The rule requires that you must own and use the home as your principal residence for two out of the last five years.Even though the opportunity to sell in the near future might not change, there could be another opportunity that could quickly disappear for some homeowners.

A homeowner can rent their home for up to three years and still be eligible for the exclusion. As an example, if they had owned and lived in it for two years and then rented it for two and a half years, they would need to sell and close the transaction before the remaining six months expired.

If there was a $200,000 profit in the home that didn’t qualify for the exclusion, a 15% long-term capital gain tax of $30,000 could become due depending on the tax bracket of the owner. With some careful planning, the tax could be avoided. Awareness of the time frames and the right team of tax and real estate professionals could save a considerable amount of the homeowner’s equity.

See my new listing in Inman Park Estates!

1820 Stannard Trail, Raleigh NC 27612

Psychologists say that we make up our minds about a person within the first fifteen seconds of meeting them. And the same is true when viewing a house.

Your house should be ready to show when photos are taken and before any showings take place.

Clean your home from top to bottom, from floors and countertops to windows, trim, and ceiling fans.

Don’t be over anxious to get your home on the market with lingering items to be completed. If you intend to have painting, carpeting, de-cluttering and cleaning completed get it finished before the first potential buyer walks thru the door. It is imperative to void the property of any potential drawbacks or visually unappealing characteristics.

Whether they know it or not, prospective homebuyers are heavily influenced by their first impression of a property. The average house hunter will often decide, within a matter of seconds, if they are interested in a house.

The peak traffic (showings) typically occurs in the first two to three weeks after your house is listed. Take the time to make your house show ready before potential buyers see the house and create that great first impression.

A bad first impression whether in photos or in person may be all that is needed for a potential buyer to rule out a property all together.

For the person who has good credit and income but not enough money for the down payment on a home, their qualified retirement program could offer them some help. The rules are different depending on whether it is a 401(k), a Roth IRA or a traditional IRA.

Up to half of the balance of a 401(k) or $50,000, whichever is less, can be borrowed by the owner at any age for any reason without tax or penalty assuming the employer permits it. There can be specific rules for loans from 401ks that would determine the repayment; interest is usually charged but goes back into the owner’s account. You can consult with your HR department to find out the specifics.

A risk in borrowing against a 401(k) comes if your employment ends before the loan has been repaid. The loan may have to be repaid with as soon as 60 days to keep the loan from being considered a withdrawal and subject to tax and penalty. Even if you continue with the same employer, failure to repay the loan could be considered a withdrawal also.

Roth IRA owners can withdraw their contributions tax-free and penalty-free at any age for any reason because the contributions were made with post-tax income. After age 59 ½, earnings may be withdrawn as long as the Roth IRA have been in existence for at least five years.

Traditional IRAs have a provision for first-time buyers which include anyone who hasn’t owned a home in the previous two years. A person and their spouse, if married, can each withdrawn up to $10,000 from their traditional IRA for a first-time home purchase without incurring the 10% early-withdrawal penalty. However, they will have to recognize the withdrawal as income in that tax year. For more information, go to IRS.gov.

Another interesting fact about this provision is that the taxpayer making the withdrawal can help a relative includes children, grandchildren, parents and grandparents.

If you want more information to clearly understand the issues involved relative to your specific situation, talk to your tax professional or consult www.IRS.gov.