Atlantic Station Real Estate

The Ben Hirsh Real Estate Group are confident faith will be restored in mortgage borrowing, and the current Atlantic Station real estate market will again become stable!

On Wednesday, Aug. 27th, members of the Atlanta Home Builders Association and the Atlanta Board of Realtors gathered at the Capital steps to support the new housing bill passed this past July. It will provide the Atlanta people with new tax credits available to first-time homebuyers -- perhaps the most applicable aspect of the new bill to college students nationwide.

"It is an insurance policy that's good for this economy and good for this country," said U.S. Senator Johnny Isakson. "With the $7,500 tax credit contained in the bill and lower house prices in the market, you will never see a better opportunity to buy a home than the opportunity before us right now."

The $7,500 tax credit is really an interest-free loan to be repaid over the next 15 years, though payment on the loan doesn't begin until 2 years after the credit is claimed. The credit is also only available until July of 2009--which those in the housing market are hoping will create a sense of urgency amongst buyers, thus providing some relief for the Atlantic Station Real Estate and the declining housing market.

Dr. Roger Tutterow, an economics professor at Mercer University and supporter of the new housing bill states the Atlantic Station real estate market used to be fourth in the nation in terms of the size of new home development. Atlanta and Georgia have had a strong housing market, and with the recent real estate market situation a large part of the economy including Atlantic Station real estate has become stagnant.

Its no secret National housing sales have dropped dramatically since 2006. Supporters of the new bill who are appropriately named the Housing and Economic Recovery Act of 2008, hope the bill will stimulate the market and bring back stable real estate prices and mortgage rates. Great news for buyers and The Atlantic Station Real Estate Market.

People react to reductions in tax rates said Tutterow, and believes there is every reason to hope that the tax credit in this package will be a positive boost for buyers and Atlantic Station Real Estate.

Although the first-time home buyer tax credit was the primary focus at last month's rally, the Housing and Economic Recovery Act included many other benefits like down payment assistance and foreclosure relief, re-financing options for current homeowners, and tax breaks for veterans and those in certain income brackets. Hopefully restoring faith in mortgage borrowing!

Lack of access to credit is one of the problems we need to overcome recovery, and hopefully an increase in foreclosures. Restructuring entities like Freddie Mac and Fannie Mae would allow more access to mortgages and a chance to move on forward.

The Ben Hirsh Real Estate Group an expert in Atlantic Station Real Estate have kept their prime position in the current market regardless of the above issues, They welcome the bill as an encouraging boost for all. Their knowledge and ability to maintain a loyal clientelle have proved their high standards of service as an Atlantic Real Estate Agent hard to beat! Whether you are an investor, home buyer, or seller the services of this Atlantic Station Real Estate Agent are important to you and your requirements are foremost to them.