Investors Find Value in Glencliff Estates of Nashville, Tennessee!
Glencliff Estates is one of the most tranquil and established neighborhoods in Nashville, Tennessee. In general, these properties are 1/2-1 acre and have ranch style homes from the 1950′s. The value of the homes varies not because of the recent market correction but mainly fluctuates due to renovations being completed – the range is from the $100K – $220K, in general. This area is considered a high value for the square footage and is nestled in a trendy location and atmosphere. This neighborhood is a true gem for first time buyers, investors, or retired couples.
Glencliff Estates is a pleasant surprise hidden away on the edge of the 37217 zip code. REPORT: http://www.bargers-solutions.com/Glencliff_Estates.htm
TAX CREDIT CAN BE USED FOR DOWN PAYMENT!
Further Incentive for First Time Home Buyers
Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, on Tuesday said that the Federal Housing Administration is going to permit its lenders to allow home buyers to use the $8,000 tax credit as a down payment.
Previously, most buyers wouldn’t receive the funds until after they filed their tax return, and that deterred some people from using the credit. The NATIONAL ASSOCIATION OF REALTORS® has been calling for the change.
“We all want to enable FHA consumers to access the home buyer tax credit funds when they close on their home loans so that the cash can be used as a down payment,” Donovan says. His remarks came in an address to several thousand REALTORS® gathered Tuesday morning at “The Real Estate Summit: Advancing the U.S. Economy,” at the 2009 REALTORS® Midyear Legislative Meetings & Trade Expo in Washington, D.C..
He says FHA’s approved lenders will be permitted to “monetize” the tax credit through short-term bridge loans. This will allow eligible home buyers to access the funds immediately at the closing table.
Press Release: National Association of Realtors, May 12, 2009
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