Nashville Real Estate Closings Up, Pendings Fall

June 10, 2010 by admin · 1 Comment 

If you were one of those drum beating, forever optimistic, ‘buy now or miss the deal of a lifetime’ type of real estate agents, this is what you might spin this month: Nashville home sales up an astounding 25.8 percent in May. You may also write: Year-to-date Nashville closings are up 20.4 percent through the [...]

October 2009 Nashville Real Estate Market Analysis

November 11, 2009 by admin · 10 Comments 

The Middle Tennessee MLS (Realtracs) just released October 2009 stats. The adjacent graph and analysis are based upon the residential single family homes and condos market only. As you may recall in September, the number of closings and pending transactions took a hit, but inventory did burn off. Did October begin a trend of real estate market deterioration [...]

First Time Homebuyer Tax Credit Extended & Expanded

November 9, 2009 by admin · 4 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 [...]

Senate Debates Extending First Time Buyer Credit

October 29, 2009 by admin · 3 Comments 

Bloomberg.com reports that the Obama administration endorsed plans to extend an $8,000 tax credit for first-time homebuyers, saying it is helping stabilize the nation’s housing market. Senate Democrats have announced plans to extend the credit until April 30, 2010, while expanding it to include higher-income Americans and some who already own homes. Senate Finance Committee Chairman Max [...]

Federal Tax Credit Used as Down Payment

May 22, 2009 by admin · 9 Comments 

At last week’s NAR Mid-Year Conference in Washington, HUD Secretary Shaun Donovan, said that the Federal Housing Administration (FHA) is going to permit its lenders to allow home buyers to “monetize” the $8,000 tax credit for first-time home buyers, to be used as a down payment. In his remarks to Realtors, Secretary Donovan indicated that [...]

Nashville Tax Assessment Reappraisal Deadline

May 11, 2009 by admin · Leave a Comment 

This article entitled “Reappraisal review deadline nears” appeared in the Tennessean on May the 10th, 2009. The author is Jenny Upchurch: “Property owners in Davidson County can get an informal review of their new appraisal values through Friday. But the assessor’s office urges folks to make requests as soon as possible so the office can [...]

Real Estate Market Boosted by First Time Buyers

May 6, 2009 by admin · 2 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 · 2 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 · 5 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, [...]