Recently, President Bush signed the housing stimulus bill turning it into the Housing and Economic Recovery Act of 2008. While there are many aspects of this piece of legislation that will help the real estate market and economy, the shining jewel for the real estate industry is a $7,500 tax credit for first-time homebuyers. Meaning, anyone who has not owned a home in the past three years that purchases a home before July 2009 will receive a $7,500 tax credit. This one aspect of the Housing and Economic Recovery Act will give the real estate market the boost it needs to rebuild. This incentive is going to build consumer confidence and bring more buyers into the market to absorb the current amount of inventory. Once the inventory supply decreases, the real estate market will be back to a steady and successful housing market, and you won’t be able to find the great deals on new homes that are currently available.

This is quite possibly the biggest incentive to hit the real estate market in decades, and many home shoppers that have been on the fence about purchasing a new home are no longer going to have any reservations. So, if you are an empty-nester looking to downsize to a new home of a more manageable size, but have been reluctant to put your home on the market because of the slow economy, now is the perfect time to sell. There are going to be a lot more buyers than there were in previous years due to this amazing tax credit, so selling your current home is not going to be as difficult of a task. Then, you’ll be free to purchase a new, luxury Atlanta condo at 1010 Midtown and begin living the easy, low-maintenance lifestyle you so desire right in the heart of Midtown.

Or, if you are a young professional that has been hesitant about buying a new home, this tax credit is the perfect incentive to help you build consumer confidence. As a young executive in Atlanta, it is extremely important to find a home that offers convenience to work but also to Atlanta’s nightlife, and 1010 Midtown is centrally located to provide homeowners with this live, work, play lifestyle that young professionals need. In addition, now is a great time to purchase a new luxury Atlanta condo at 1010 Midtown because the condos are priced at such an amazing value. This won’t be the case for much longer because as soon as more retailers are announced, the value of these homes are going to increase, as will the price. In short, there has not been a better time to buy your new condo at 1010 Midtown because the price won’t get any lower than it is now, meaning you are sure to see a positive return on your investment. And, for you first-time homebuyers that will receive the $7,500 - imagine how much that sum of money can help out when you have a new mortgage.

Tags: 1010 Midtown, empty nesters, first-time homebuyers, luxury Atlanta condos, new condos in Midtown