Tax Benefits Make Now a Great Time to Buy a Home

http://www.selectbrokersrealty.com Press Release

Ray Vaughn , president and broker of Select Brokers Realty, calls the $7,500 real estate tax credit to first-time home buyers in the new housing stimulus legislation an example of “trickle-up” economics. “As first-time home buyers enter the real estate market, armed with an extra $7,500, they increase the demand for homes in Braselton, Hoschton and Jackson County Ga. and in the process help stabilize the market value of homes,” he says. “As they purchase their first home, they free those who are selling their first homes to move up in the real estate market to more expensive homes. Those who had $200,000 homes now buy houses in the $300,000 range. That allows more home owners to sell and move up in the market as well as allowing empty nesters and recent retirees an opportunity to downsize. Mortgage brokers, Realtors® and home builders in Braselton, Hoschton and Jackson County Ga. receive critical new clients and the benefits don’t stop there. Sales of furniture, electronics, household items, landscaping supplies and home improvement items also increase. An escalation in sales also boosts manufacturing and shipping. The process profits the broader community because all these transactions infuse tax revenue into the system, benefiting the community in a variety of ways.” Ray applauds Congress for providing this tax incentive for home buyers. “Now it is up to the American consumer to realize this is a great time to buy a home,” he says. “With interest rates between 6% and 7%, tax rebates and credits from the federal government and a buyer’s market, it’s a great time to make the American Dream a reality.”