Opportunity to showcase listings prior to the expiration of the homebuyer tax credit

Prudential Gary Greene, REALTORS® will join real estate professionals across the nation as part of the REALTOR® Nationwide Open House Weekend celebrated April 10 and 11 of this year. The National Association of REALTORS® encourages REALTORS® to participate in this campaign focused on increasing consumer awareness of the benefits of homeownership.  Prudential Gary Greene, Realtors® will showcase their inventory on Sunday, April 11 to draw attention to the many opportunities available in one of the best housing markets in the nation - Houston.  To view current listings and open houses, go to www.GaryGreene.com.

The Nationwide Open House Weekend will enable sellers to showcase their homes for sale and potential homebuyers to shop for a home while interest rates are low, home prices are affordable and before the April 30 deadline for the federal homebuyer tax credit.  The National Association of Realtors® will conduct a nationwide advertising campaign before the event to increase awareness, interest and traffic.

“For many people, now really is a good time to buy a home. Mortgage rates are still at historic lows,” said Toni Nelson, director of strategic initiatives for Prudential Gary Greene, Realtors®. “And first-time buyers have until April 30 to get up to an $8,000 tax credit while long-time homeowners may qualify for as much as $6,500 if they purchase their next primary residence before the deadline. The Open House weekend held in Houston on April 11 will create interest and attention among buyers and sellers.”

According to the Internal Revenue Service, buyers who wish to qualify for the tax credit must sign a contract to purchase a home on or before April 30, 2010, but they have until June 30, 2010 to close on the home. Income limitations apply and the home purchased must be used as a primary residence with a purchase price not to exceed $800,000.

Adds Nelson: “The tax credit will soon be gone.  Economists predict that home prices and interest rates will climb and with Houston’s growth predictions over the next 10 years, home prices are more likely to climb here than anywhere else.  Currently, Houston has an ample supply of homes from which to choose. So the timing of this Open House event is very important to help create awareness and also to capitalize on the tax credit while it is still attainable.”  For more information, read “Housing Shortage Ahead?” on www.GaryGreene.com/blog.

“While the tax credit has been a strong incentive for buyers, homeownership is an investment in your future offering tax benefits and long-term value over time,” said Nelson. 

There are many personal benefits to homeownership for sure; it’s the American Dream.  Few buyers know the economic impact that buying a home brings to their local community.  Economists have calculated that for every home purchase, no matter how small – an approximate $63,000 economic multiplier effect goes into the local economy.  There are also as many as 24 services used in the process of buying a home, which benefits local business.  The greatest contribution Americans can make to jump starting the economy is to buy a home. 

Prudential Gary Greene, Realtors® personally invites you to attend their Realtor® Nationwide Open House Event on April 11.  To view homes for sale or homes that will be held open, please go to www.GaryGreene.com.

 

 

 

 

 

Tags: Houston Home sales, Houston Real Estate, Houston Real Estate Market