Good News Week for Atlanta Real Estate
This week brought a couple pieces of good news about the Atlanta real estate market. First, a report released by Metrostudy shows that Atlanta's housing market has hit bottom, with primary indicators having reversed and now trending to the positive. Although the trend is positive for sellers, we at Intown Elite believe that buyers continue to maintain the power in negotiations, since there’s still nearly 13 months of inventory on the market.
The other good news for the real estate market is the extension of the $8,000 tax credit for first-time home buyers until May 1, 2010. In addition, a credit up to $6,500 is available for other home buyers who have owned their current homes for at least 5 years. This opens tax incentives to "move-up" buyers who are purchasing a primary residence.
As always, there are limits to these credits, so please contact your real estate professional for the details. These tax credits are not likely to be further extended, so if you are considering buying a home, now is the time.
Please feel free to contact us here at Intown Elite with any questions you have about the new tax credits. Thank you and happy house-hunting!