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The Shopper

Friday, November 13, 2009 11:00 AM

Photo by Linda Brown/The Ottawa Herald


Courtney Williams, a teacher at Ottawa High School, purchased a home in Franklin County earlier this year. According to a report provided by Reece & Nichols Realtors, 536 properties have been sold in Franklin County in the last 12 months, and nearly half of the buyers, like Williams, are thought to be first-time home buyers.

First-time homeowner: The time to buy is now

By LINDA BROWN, Herald Staff

The American Dream came true for Courtney Williams in June when she bought a home of her own.

Williams wasn’t alone.

According to a report provided by Reece & Nichols Realtors, 536 properties have been sold in Franklin County in the last 12 months, and nearly half of the buyers, like Williams, are thought to be first-time home buyers.

“We don’t have any information of the percentage of stimulus buyers,” Rick Leach, a real estate broker and owner of Reece & Nichols Town & Country Realty, 1418 S. Main St., said. “But my observation is 50 percent. The market is picking up, and this is a great time to buy.”

Williams said the time was right for her.

“I was tired of paying rent, and felt like I was throwing money away,” she said. “I’d been looking for houses, and the first-time home buyer tax credit made a big difference in my decision to buy now.”

Williams, a teacher at Ottawa High School, is frustrated with the economy but believes if a person can afford to buy a house, this is a good time to do so.

“Things aren’t going well with education right now,” Williams said. “I think the amount of money being cut from education isn’t a good thing, and it makes me wonder if we’re on the right track, but I couldn’t let that uncertainty stop me from buying a house.”

Williams said she had no trouble financing her real estate purchase.

“I got pre-approval and was able to find a house and start the process right away,” she said. “I got a good deal, and it fit my needs at a price I could afford. Overall, it was a good experience.”

Leach said he is on the optimistic side of 2010.

“We’re expecting the extension of the stimulus is going to mean more buyers,” he said. “The problem is, there aren’t enough homes on the market to meet the buyers’ demands. There are 199 homes listed today, compared to 229 this time last year. It makes it hard to find exactly what they want.”

New legislation, the Worker, Homeownership and Business Assistance Act of 2009, signed into law Nov. 6, extends and expands the first-time homebuyer credit allowances.

Qualified first-time homebuyers can get up to an $8,000 tax credit on a home purchased on or after Jan. 1, 2009, to on or before April 30, 2010.

Qualified move-up/repeat home buyers can get up to a $6,500 tax credit on a home purchased after Nov. 6, 2009, or on or before April 30, 2010.

Williams hasn’t received her tax credit back yet but plans to use the money for some home remodeling.

“I’m going to do some new flooring and make some changes to the bathrooms,” she said. “I have so much more room now. I actually have a home office and guests don’t have to sleep on the couch anymore.”

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