Today is the original deadline for the extension of the first time home buyers tax credit. If you are unaware of the tax credit it has been a great helper of the Real Estate market in the past months. All people who were purchasing a home and had a written contract before April 30Th are getting a 10% tax credit up to $8,000 if their home closing by June 30Th. Mortgage news daily is reporting that it finally has gone through the senate is was actually passed.
I have gotten several emails from various lenders saying that the tax credit closing date has been extended to September 30Th. I have on the other hand gotten several emails from other lenders saying it has been extended.
The national association of Realtors has reported that a third of the contracts written that are would like to be collecting the $8,000 are new construction builds and will be unable to be completed by today. Do you think they should extend the bill and add to the deficit or do you think tough luck these home buyers should have known a house couldn't be built in that short amount of time?
Wednesday, June 30, 2010
Monday, June 28, 2010
Deal of the Week.
This weeks deal is a foreclosure in Goshen for less than $100,000 which is unheard of. Its a four bedroom two bath fixer upper in a great neighborhood in an even better School district. For more details give me a call on my cell: 502-551-9396 or go to my website and enter in
Saturday, June 5, 2010
The Numbers don't lie!
I have been studying the statics Louisville Board of Realtors puts out and also looking at inventory trends and have been encouraged by what I have found. So far 2010 has been the best year for Real Estate in the past three years. If you look at the units sold over the past three years we are doing much better than we did in 2009 which was a down year. But whats even more encouraging is we are even up from 2008 which is my best year of sells yet. Check out the link below and see for yourself below.
If you look at the number of units sold in the month of May from 2001 to 2010 you will see a three your trend. Take a look at the upswing between 2001 to 2003 there a gradual increase between those three years. Then things really pick up over 2004 through 2006 with a huge jump from 2005 to 2006. Probably because that's the year I got my licence and really started bringing up Louisville's sales :). But really there is a definite trend there then things hold steady in 2007 and then the bottom falls out of the economy in 2008 and sales plummet and 2009 is even worse. But in 2010 we rebound to back to the 2005 numbers and one can only hope the trend continues and 2011 and 2012. Because lets face it we all need our property values to increase and I need to put my little girl through Grad School.
If you look at the number of units sold in the month of May from 2001 to 2010 you will see a three your trend. Take a look at the upswing between 2001 to 2003 there a gradual increase between those three years. Then things really pick up over 2004 through 2006 with a huge jump from 2005 to 2006. Probably because that's the year I got my licence and really started bringing up Louisville's sales :). But really there is a definite trend there then things hold steady in 2007 and then the bottom falls out of the economy in 2008 and sales plummet and 2009 is even worse. But in 2010 we rebound to back to the 2005 numbers and one can only hope the trend continues and 2011 and 2012. Because lets face it we all need our property values to increase and I need to put my little girl through Grad School.
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