February 12, 2010, marked the date for information provided by the International Revenue Service that will affect homebuyers in the Louisville real estate market. There are new guidelines for the two tax credit programs that have been created to assist in the country’s failing home owning circumstance. The credit is $6,500 for previous homeowners buying [...]
The Washington Post reports that even while sales of newly built homes languished in November, sales of existing homes were up sharply that month. Most of the boost in home sales was attributed to federal programs, particularly the homebuyer’s tax credit, which inspired buyers to take action rather than continue watching the market. November’s existing [...]
The Wall Street Journal reports that sales of new homes dropped more than eleven percent in November 2009 to a seven-month low. Real estate experts are cautiously optimistic about the country’s modest, but steady economic gains. However, there is growing concern that new home sales and sales of existing homes could dive again after the [...]
Many Louisville real estate agents already know very well that the number of people across the U.S. getting ready to buy a home dropped sharply in November 2009. Housing experts say that housing markets across the country could be heading for a “double-dip” drop in sales where a decline in home selling prices is exacerbated [...]
Kentucky Congressman John Yarmuth has been joined by Louisville Realtors, local homeowners and members of the Home Builders Association of Louisville to announce that more Louisville residents are eligible for a homebuyers tax credit than ever before.
“The first-time homebuyer credit included in the Recovery Act has already helped hundreds of Louisville families fulfill the dream [...]
Sales of existing homes received the biggest boost in a decade due to the first-time homebuyers tax credit, fueling hopes of a rebound in struggling real estate markets driving some Wall Street stocks higher. Foreclosures, plunging real estate values and job losses still plague many markets, particularly in California and Florida, while economic indicators in [...]
The Greater Louisville Association of Realtors reported that its members sold 1210 Louisville homes last October, which represented the fourth consecutive month of gains over 2008 year-over-year. President of the local realty group, Linda Gibson Cecil, called the sales figures “very encouraging.” Until this past July, monthly home sales in the Louisville real estate market [...]
Congress passed a compromise measure extending unemployment benefits and the $8,000 tax credit for qualified first-time homebuyers, in spite of recent revelations on widespread mistakes and suspected fraud in the popular program. The tax credit program was scheduled to end on Nov. 30, 2009, but the homebuyer extension will cover homes under contract by April [...]
As the federal tax credit program for first-time homebuyers is ending, some Louisville homebuyers are taking advantage of Kentucky’s lesser-known $5000 tax credit for buying a new house. Kentucky’s tax credit went into effect last July 26 and although it cannot be combined with the federal tax credit, Louisville real estate professionals say it is [...]
Folks who want to take advantage of the tax credit for first-time homebuyers are running out of time. Unless Congress votes to extend the program—and some legislators are for it—the tax credit of up to $8000 will expire in December. Given the length of time that it takes to arrange financing, home inspections and [...]
