Louisville Properties Blog
Louisville Properties Blog


New Construction Offer Incentives When Tax Credit Ends

Homebuilders, reeling from an extended period of few new projects and even fewer buyers, are preparing to lure buyers to newly constructed homes with incentives that might have seemed very unlikely just a few years ago. Builders are bracing for the end of the government's homebuyer tax credit program by offering free options and upgrades, offering to help pay for closing costs and other incentives to entice wary homebuyers. Industry analysts remain skeptical that the incentives will be as generous as they were during the height of the housing meltdown, but these giveaways are almost always available if prospective buyers do their homework and ask about them. "Incentives don't disappear, even in the best of times," says Steve Melman, director of economic services for the National Association of Home Builders. "Even in the good times, builders will throw things in." According to the National Association of Home Builders, three homebuilders in four were cutting prices and creating other incentives in December of 2008 to facilitate the sales of unsold inventory. During that period, two-thirds tried to tempt hesitant buyers with free fireplaces, gourmet kitchens, finished basements and other incentives. Some builders (28 percent) offered to subsidize their buyers' mortgage rates, 59 percent offered to help pay closing costs and 41 percent offered to pay for the points that mortgage lenders charged buyers. Thinking about buying a newly constructed home in the Louisville area? Look no further than Louisville Properties. No one else in the area has a better selection of new Louisville homes and existing residential and commercial real estate. Whether you're buying or selling, the pro at Louisville Properties can help make it happen. Call him today at 502.744.9504. Resource link: http://www.latimes.com/business/custom/yourmoney/la-fi-lew18-2010apr18,0,6376692.story...
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