Home Buyers Rushing To Get Tax Credit
Monday, 15 March 2010 04:12
Real estate markets all over the country are reporting substantial increases in home sales as compared to last year. Columbia SC real estate markets are beginning to see the numbers of sales pick up also. The first time home buyers are now taking advantage of the 2010 tax credit for buying real estate more so than the move up buyers. First time home buyers will receive a $8,000 tax credit where as the move up buyers will receive a $6,500 tax credit.
Ben Blanks, with Three Rivers Mortgage, says that buyers know the interest rates will not stay at the all time lows we have been seeing to the last several months. Therefore, home buyers in SC are making their move now to lock in the low interest rate as well as take advantage of the $8,000 tax credit.
Home sellers are seeing sales prices creeping back up at this time. In February 2009, the average sales price for a residential home in the Columbia SC and Midlands area was about $146,500 as compared to February 2010 the average sales price is about $154,500.
Experts believe the worst of the real estate down turn is certainly over. Although we have a long ways to go in terms of recovery, those in the real estate industry certainly has much to look forward to throughtout the spring and summer months. The public is also believing things are getting better as we see the numbers of students getting their real estate license, property management license and appraisal license at the Real Estate School for Success are picking back up as well.
FEATURED HOME
Beautiful Home in award winning Lex/Rich 5 School District
Over 2500SF home with 5 bedrooms, 2.5 bathrooms, formal living and dining room, family room with high ceiling and fireplace with gas logs, double garage, and much more!!
Property Details
