It is a Great Time to Buy a Home in Northern Kentucky

_ 500+ Open Houses, Sept. 12 – 13

_ Opportunity to tour homes in wide price range and styles

_ $8,000 Tax Credit for persons who haven’t owned a home in 3 years

_ Up to $5,000 Kentucky Tax Credit for purchase of a newly constructed home.

MLS Open House Weekend is Sept. 12 – 13!

REALTORS® have scheduled 500+ Open Houses in Northern KY, over 2000 region wide, serviced by the local MLS organizations. This is a great opportunity for buyers to get an idea of the homes currently available to purchase and tour the open houses. Even those persons not currently in the market for a new or existing home can benefit from this event. You just may realize that the time is right to make a move.

Northern KY Real Estate

“These are encouraging signs for buyers and sellers, said Johnny Hodge, President of the Northern Kentucky Association of REALTORS®. “This market holds opportunities for both sellers and buyers, which should lead to a healthier real estate economy for all in the coming months.

1. Great Inventory — More Choices

Anyone looking for a home today will find a tremendous selection- nearly 4,000 properties are listed in the Northern KY MLS, region wide, nearly 20,000. Whether you’re looking for a starter home, a high-end custom home or something in between, you’ll find just the home you’re looking for.

2. Low Interest Rates- More Buying Power

Mortgage rates determine how much you can afford. With the current low rates, you have significantly more buying power. How low are rates today? Those who bought a home in 1963 were paying roughly the same rate as you’ll pay today. The rates won’t stay this low forever. Buying a home now can save you thousands of dollars in interest.

3. Homeownership Will Always be a Good Investment

Even if you are on the fence for now, that’s OK. There will be plenty of opportunities to by a home when you’re ready. Homeownership is a vital engine in the American economy. It creates strong communities and builds wealth for families who buy homes. Homeownership won’t go out of style. Homeowners are invested in our communities. They are the joiners, fixer-uppers, and watchdogs that make our nation strong. Nine out of 10 consumers consider homeownership to be a sound financial decision. Purchasing a home is a great way to invest your money. In the past 40 years, real estate has delivered the most consistent positive return over any investment. When you are buying a home, you are building equity and adding to your assets.

Up to $8,000 Federal Home Tax Credit Now Available

The Super Open House Weekend of Sept. 12 – 13 will benefit new and repeat buyers. It will give you the opportunity to see what’s on the market TODAY and realize TODAY’s home pricing. BONUS: The current federal Home Tax Credit program is available to persons who haven’t owned a home in the past 3 years. Don’t forget that the federal Home Buyer’s Tax Credit expires Nov. 30, 2009 for home sales closed on or prior to this date.

Up to $5,000 Kentucky Home Tax Credit Now Available

Your purchase of a newly constructed home may be eligible for a state tax credit of up to $5,000 on your Kentucky tax return. Any attached or detached home that has never been occupied qualifies. Credit expires July 25, 2010 for home sales closed on or prior to this date or until the $25 million dollar limit has been reached.