Incentives and Pricing Lure New Home Buyers
The frozen housing market appears to be thawing as more buyers are finding the current historically low interest rates, stabilizing prices and tax credit incentives irresistible.
“Today’s market offers an incredible opportunity with the unprecedented combination of a 40-year low in interest rates, prices returning to normal levels in many markets, and limited-time tax incentives,” said Joe Robson, chairman of the National Association of Home Builders and a home builder from Tulsa, Okla.
The number of homes under contract increased in March, according to the National Association of Realtors’ Pending Home Sales Index, which increased 3.2 percent from February to March.
Optimism about the housing market is on the rise as well, an April 16 Gallup Poll found that 71 percent of Americans said that now is a “good time” to buy a house, an 18 point increase from one year ago and the highest level in four years.
There are several tax credits available to home buyers and home owners. Click below to see how you can benefit from this legislation!
First-Time Home Buyer Tax Credit – $8,000
Georgia Home Buyer Tax Credit – $1,800
Federal Tax Credits for Energy Efficiency – $1,500
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Brandon | May 18, 2009 | Reply
Great info on the tax credit. I’m glad the IRS / federal government finally removed the repayment requirement. Now if we can get them to extend the credit beyond the November 09 cutoff, we’d be even better positioned for a housing upswing.
Randy | May 19, 2009 | Reply
Which lenders will work with buyers who want to use the $8000 tax credit as downpayment loan? Are they all non-profits and who are they. Thanks.
Donna Martin | Oct 12, 2009 | Reply
How do you apply for the $1800 state tax credit for ? How long will it take to receive it?