My friend Tracy Blair at Gracy Title just shared some good news with me. The news is about how the economy is recovering. We are making our way out of the recession slowly but surely. There is light at the end of the tunnel and the end is near! While the national real estate market has seriously slowed, the Austin Texas home market has only seen a slight drop in closed home sales. Now is a great time to buy a home in Austin. Many homeowners are now choosing to move up to a larger home to take advantage of the increased inventory and historically low home loan interest rates. There are many people relocating to Austin looking to buy homes and start businesses in Austin. The First Time Home-buyer tax credit has also proven to be a great tool to assist home buyers. The tax credit is up to $8000 on the purchase of a new construction or resale home. Please note that if you have not owned a home in the last three years, you qualify as a "First time homebuyer"! This program has helped many renters make the leap to home owners! Tracy said to share this positive news with clients and friends so here goes. Please note the information sources are credited below the quotes.
Analysis: Tax Credit Adds 357,000 Buyers
A study estimates that 357,000 buyers have been motivated so far by the $8,000 First-Time Homebuyer Tax Credit.
The study by Campbell Surveys, a division of Campbell Communications, calculated the figure by comparing the number of first-time homebuyers before and after the tax credit was instituted. The percentage of first-time buyers rose from 32 percent in January and February to 43 percent for the rest of the year - except July when the rate fell to 42 percent.
Campbell 's Research Director Thomas Popik pointed out that this survey mirrors the numbers calculated by the National Association of REALTORS® and those from Moody's Economy.com.
The data supports legislative efforts in both the U.S. House and Senate to extend the tax credit.
Source: HousingWire.com, Austin Kilgore (09/22/2009)
Sometimes it feels like that everyone is waiting on good news from the real estate sector before the recovery can begin. The following article covers NON-real estate good news.
Published September 23, 2009 in On the Street by Sarah Morgan Wall Street Journal Digest - SmartMoney
If you are in the market for a new home and are not presently working with a Realtor, please call me. I would be happy to help you through the process of buying a home. I specialize in Relocation and I will make the process easy to navigate. I look forward to the opportunity to earn your business.
Betina Foreman, Realtor
Keller Williams Real Estate 1801 S. Mopac, Suite 100 Austin, Texas 78746 512-771-6318 BetinaForemanRealtor@yahoo.com Betina@KW.com www.ZilkerParkHomes.com
Member: Austin Board of Realtors, Texas Association of Realtors, National Association of Realtors, ActiveRain, Trulia-Top Voices, and Zillow-Neighborhood Pros.
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