First Time Buyer Incentive Getting Home Buyers to Act in Lexington KY

If you've been looking at real estate in Lexington KY lately, you may have noticed a phenomenon that past couple of weeks -- houses are selling! I have an adorable little house listed in Gainesway that I sold last week. The contract actually fell through but I just sold it again this week (and it looks like these buyers are going to qualify!). What was interesting, though, is that over the past couple of weeks, I've noticed a lot of activity with houses priced in the $100k - $175k range and it seems to be growing.

The agents who were calling to see my Gainesway listing kept asking, "Is this house still available?" because each one of them had been running across houses their clients wanted to see that were under contract before they could get a chance to show them. Just the fact that I was able to re-sell the same house within a 1 week time period is a great signal that the market for houses in this price range is picking up steam. The new buyers, both medical students, were prompted in part by the 1st Time Buyer Tax Credit and most of the others who have been looking have been other 1st time buyers who qualify for the credit.

I've also received quite a few inquiries from my website the past couple of weeks about houses priced in the $150k range and have several showings set up for the coming week. And this is great news for everyone who's looking to sell their homes in Lexington KY because of the "trickle-up" effect -- if folks who own starter homes are able to get theirs sold, they usually move into "move-up" homes (priced in the $175k - $250k range), and the folks who own those homes then usually move up into homes priced in the $250k - $400k range, so the ripple effect of these first time buyers is far reaching.

If you have a home for sale in Lexington KY, or one that you've been thinking of selling but were afraid to put it on the market, take heart -- all this activity is a good indicator that the spring 2009 buying season has begun and it looks like it's going to be a good one!

If you've been thinking of buying a home in Lexington KY, now's a great time to be looking! There's a wide selection of houses out there in every price range and some real bargains to be had! To search the Lexington KY MLS or find homes for sale anywhere in Central KY, visit my website, www.LexingtonRealEstateSource.com.

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