Real Estate Tax Credit Causes Nashville Homes Sales to Soar

April 9, 2010 by admin · View Comments 

Most real estate professionals would agree that the extended first-time home buyer credit has led to an increased level of purchase activity in Nashville. However, most tend to also believe that this activity has led us to a point when you can call the Nashville real estate market ‘recovered’. I can see why you may [...]

First Time Homebuyer Tax Credit Extended & Expanded

November 9, 2009 by admin · View Comments 

If you feel like the first time homebuyer tax credit was a sweet deal that you missed out on, you’ll now have another shot, the program has now been extended through April 30, 2010. The Tax Credit was also amended to include move-up buyers who’ve been in their current home 5 consecutive years over the [...]

Mortgage Applications Down as Rates Rise

October 27, 2009 by admin · View Comments 

Mortgage applications declined for the second consecutive week and to their lowest level in over a month, as interest on 30-year fixed loans rose to 5.07 percent. The Mortgage Bankers Association reports that its index of loan applications fell 13.7 percent last week, as requests to refinance mortgages sank 16.8 percent and demand for purchase [...]

$8,000 First-Time Home Buyer Credit Expires Soon

October 6, 2009 by admin · View Comments 

The Tennessee Association of Realtors made a pretty cheesy, yet surprisingly informative animated video to help us understand the $8,000 first-time home buyer credit. This video touches on how to qualify for the tax credit, who qualifies, how the credit works and how you apply the tax credit to get cash back. Unless the tax credit [...]

Existing Home sales up 7% in July

August 22, 2009 by admin · View Comments 

Nationwide existing home sales rose 7.2 percent in July - the first time in five years sales have increased 4 consecutive months and the first time in a decade the month over month gain was over 6 percent, according to a report released Friday. In addition, Nashville has experienced positive price appreciation for 3 consecutive months. The [...]

Real Estate Market Boosted by First Time Buyers

May 6, 2009 by admin · View Comments 

The National Association of REALTORS (NAR) says over 50 percent of March’s home sales were tied to first-time buyers, many of whom snapped up foreclosed homes and other distressed properties. Experts believe getting first-time buyers off the sidelines to take advantage of historically low interest rates and federal tax credits will reduce the glut of [...]

Another Tax Credit for First Time Home Buyers

May 5, 2009 by admin · View Comments 

Earlier this year, Congress passed the American Recovery and Reinvestment Tax Act of 2009 (”2009 Tax Act”). In division B, Title I, Section 1006, there is a provision for a First Time Homebuyer Tax Credit (Form 5405) up to $8,000 or 10% of the purchase price. This act provides for an exception for principal residences [...]

First Time Home Buyers Tax Credit Explained

February 24, 2009 by admin · View Comments 

First Time Home Buyers – $8,000 first-time home buyers (or if you have not owned a home in 3 years) tax credit for qualified home purchases in 2009. This tax credit is specifically designed to encourage prospective home buyers to get off the fence. What is the tax credit? Does not have to be repaid, [...]

So, What’s Up With This $8,000 Tax Credit?

February 17, 2009 by admin · View Comments 

Last week, as the world knows by now, Congress passed a rather large Economic Stimulus Bill, with President Obama’s signature expected this week. One of its features – a tax credit of up to $8,000 for “first-time home buyers” within a certain income range – is included. It would be incredibly bold of me to [...]

Nashville Mortgage Rates Below 5%

January 23, 2009 by admin · View Comments 

We’ve been telling you now is the time to buy, and we aren’t lying! If your new year’s resolution is to buy a new home in Nashville, we strongly encourage you to start looking now so you can take advantage of these historically low rates. Not only are rates great, but there are some unique [...]