_ 500+ Open Houses, Sept. 12 – 13
_ Opportunity to tour homes in wide price range and styles
_ $8,000 Tax Credit for persons who havenâ€™t owned a home in 3 years
_ Up to $5,000 Kentucky Tax Credit for purchase of a newly constructed home.
MLS Open House Weekend is Sept. 12 – 13!
REALTORSÂ® have scheduled 500+ Open Houses in Northern KY, over 2000 region wide, serviced by the local MLS organizations. This is a great opportunity for buyers to get an idea of the homes currently available to purchase and tour the open houses. Even those persons not currently in the market for a new or existing home can benefit from this event. You just may realize that the time is right to make a move.
Northern KY Real Estate
â€œThese are encouraging signs for buyers and sellers, said Johnny Hodge, President of the Northern Kentucky Association of REALTORSÂ®. â€œThis market holds opportunities for both sellers and buyers, which should lead to a healthier real estate economy for all in the coming months.
1. Great Inventory â€” More Choices
Anyone looking for a home today will find a tremendous selection- nearly 4,000 properties are listed in the Northern KY MLS, region wide, nearly 20,000. Whether youâ€™re looking for a starter home, a high-end custom home or something in between, youâ€™ll find just the home youâ€™re looking for.
2. Low Interest Rates- More Buying Power
Mortgage rates determine how much you can afford. With the current low rates, you have significantly more buying power. How low are rates today? Those who bought a home in 1963 were paying roughly the same rate as youâ€™ll pay today. The rates wonâ€™t stay this low forever. Buying a home now can save you thousands of dollars in interest.
3. Homeownership Will Always be a Good Investment
Even if you are on the fence for now, thatâ€™s OK. There will be plenty of opportunities to by a home when youâ€™re ready. Homeownership is a vital engine in the American economy. It creates strong communities and builds wealth for families who buy homes. Homeownership wonâ€™t go out of style. Homeowners are invested in our communities. They are the joiners, fixer-uppers, and watchdogs that make our nation strong. Nine out of 10 consumers consider homeownership to be a sound financial decision. Purchasing a home is a great way to invest your money. In the past 40 years, real estate has delivered the most consistent positive return over any investment. When you are buying a home, you are building equity and adding to your assets.
Up to $8,000 Federal Home Tax Credit Now Available
The Super Open House Weekend of Sept. 12 – 13 will benefit new and repeat buyers. It will give you the opportunity to see whatâ€™s on the market TODAY and realize TODAYâ€™s home pricing. BONUS: The current federal Home Tax Credit program is available to persons who havenâ€™t owned a home in the past 3 years. Donâ€™t forget that the federal Home Buyerâ€™s Tax Credit expires Nov. 30, 2009 for home sales closed on or prior to this date.
Up to $5,000 Kentucky Home Tax Credit Now Available
Your purchase of a newly constructed home may be eligible for a state tax credit of up to $5,000 on your Kentucky tax return. Any attached or detached home that has never been occupied qualifies. Credit expires July 25, 2010 for home sales closed on or prior to this date or until the $25 million dollar limit has been reached.