Chris Elrod Properties-Connecting Buyers & Sellers Of Real Estate

Housing Tax Credit

First-Time Home Buyer Tax Credit at a Glance

• The tax credit is available for first-time home buyers only.
• The maximum credit amount is $7,500.
• The credit is available for homes purchased on or after April 9, 2008 and before
  July 1, 2009.
• Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.
• The tax credit works like an interest-free loan and must be repaid over a 15-year period.

Federalhousingtaxcredit.com will answer all your questions regarding the tax credit.

Building vs. Buying a Home

I am asked many times by home buyers that get so overwhelmed with the choices they have or don't have if it would be better to build a home instead of buying an existing home. Since there is not a correct overall answer that fits every buyer's need and/or desire,I decided to share with those of you around the watercooler at Ethos an article from RealEstate.com that will hopefully give you insight.
 

If you’re on the market for a home, you may be asking yourself whether it makes more sense to build a new home or buy a resale home. If you are looking to buy a home, it’s a big decision. The answer depends on what is important to you.

Advantages of an existing neighborhood
Established neighborhoods with lived-in homes have much to offer. If the neighborhood has been around long enough, trees may canopy the streets and the landscaping may be lush and mature. It is hard to beat the charm of an established neighborhood that is already lined with well-loved family homes. It’s a place you can easily imagine walking the dog or strolling with the family.

Click here and enjoy the rest of the article.

Franklin, TN-Executive House Condo-613 Hillsboro Road

 Unit B21  has been completely rehabbed and is move in ready. Everything is brand new from the windows to the carpet and tile flooring to the doors. The owner has left nothing undone. Everything in the kitchen is new including the KITCHEN SINK! And the black appliances really  enhance the kitchen as well . Best of all, a central HVAC system has been installed.

This 2 bedroom, 1 bath condo is within walking distance to historic downtown Franklin and has a nice view of the common area from the covered deck/balcony making it a great personal residence or an investment property. For a full detailed listing on Realtracs.com and use MLS#992321. The price is right at $113,900!

Amid the despondency, however housing supply and demand are moving towards balance

Sales of new homes, which had plunged nearly 60% from their average level of 2005, have been stable since March. Sales of existing homes stopped falling last autumn. Julia Coronado of Barclays Capital says that construction of homes built for sale, not counting units that already have a buyer, had dropped to 13% below the level of new-home sales in the first quarter (see chart 1). She thinks second-quarter data, due out on August 19th, will show the gap growing to 18%. That is why the inventory of unsold homes, though still near recent highs relative to monthly sales, has fallen sharply in absolute terms. Read the full article from Economist.com here.

Little Palm Island

Ethos asked me to name my favorite beach today at Watercooler Wednesday. This is a really hard decision for me because there are so many beaches that I love. Randy named several of the beaches that we have enjoyed visiting and actually living near. They are all filled with fond memories of vacations gone by and just a plain ole backyard playground for our girls as they grew up. One very special beach however is Little Palm Island located just off Little Torch Key in the Florida keys. My husband, Randy surprised me with this very special trip in 2000. We spent several days being pampered and spoiled on this "Fantasy Island" type location. If you ever get the chance to go, don't miss it!!!

The Perfect Island Paradise

You wake up to a blissful quiet, broken only by a heron's call and the gentle lap of waves. You snuggle closer. A cloud of soft linen envelops you in a comfortable cocoon. You dream of your trip here last night on The Truman, the 35 foot launch named after one of the island's most famous guests, and glide again through sultry waters to arrive at this remote island full of Jamaican palms and exotic blossoms. And you wonder if you can ever leave. Welcome to Little Palm Island Resort & Spa, the internationally acclaimed private island paradise, listed among the top resorts in the world by Condé Nast Traveler and Travel+Leisure magazine.