First-time home buyers could get a break - KPLC 7 News, Lake Charles, Louisiana

First-time home buyers could get a break

By Crystal Price - bio | email

LAKE CHARLES, LA (KPLC) - Last fall's financial crisis was sparked by a collapse of the nation's housing market.

The lake area did not see a lot of foreclosures, but the government's $8,000 tax incentive for first-time home buyers has contributed to local housing sales.

The White House is looking at extending the program to boost the number of home sales.

"I'm sure it's to keep the economy going in the right direction," says Valerie Cox, a realtor for Flavin Realty. "A lot of the home buyers we have here are first time home buyers, so that's why they are focusing on that large group."

Not only could the extension boost home sales, but it could also benefit more first time home buyers who have not yet been approved.

"If you're not a gambler, you might want to go for it now," says Cox.

The tax credit applies to the following:

  • All first-time home buyers, which also includes individuals who have not bought a home in the last three years.
  • Applies to any kind of "new" or "resale" home.
  • Home purchase must occur on or after January 1, 2009 to December 1, 2009.
  • The purchase date is in effect when the closing occurs.

Realtors say buyers need to take advantage of this tax incentive now because it takes up to three months to close on a home.

Mike Fraser, a lender for Progressive Mortgage says now is the time to come in for a mortgage on a home.

"We would like them to come in with their assets, bank statements, and 401Ks so that we can tell them what loan product best serves their need," says Fraser.

For more information on the tax incentive click to the right of the screen on "Home Tax Credit."

(Copyright 2009 KPLC-TV. All rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

 

  • More Local NewsNewsMore>>

  • New DNA technology advances helps find alleged murderer in 2009 cold case

    New DNA technology advances helps find alleged murderer in 2009 cold case

    Wednesday, July 26 2017 8:26 PM EDT2017-07-27 00:26:08 GMT
    (Source: Candy Rodriguez/KPLC)(Source: Candy Rodriguez/KPLC)

    Monica Quaal handles DNA from crime scenes across southwest Louisiana. "We just take evidence from law enforcement agencies they collect at the scene and then we take samples from it," said Quaal the DNA technical leader at the southwest Louisiana Crime Lab.  It's samples Quaal tries to find a match for and she has been working on a case for the past seven years. The 2009 Sierra Bouzigard cold case. The DNA had been placed in CODIS, a DNA database, but...

    More >>

    Monica Quaal handles DNA from crime scenes across southwest Louisiana. "We just take evidence from law enforcement agencies they collect at the scene and then we take samples from it," said Quaal the DNA technical leader at the southwest Louisiana Crime Lab.  It's samples Quaal tries to find a match for and she has been working on a case for the past seven years. The 2009 Sierra Bouzigard cold case. The DNA had been placed in CODIS, a DNA database, but...

    More >>
  • Ideas for tackling teen violence include church activities and teen dances

    Ideas for tackling teen violence include church activities and teen dances

    Wednesday, July 26 2017 8:21 PM EDT2017-07-27 00:21:40 GMT

    A lot of recent violent crime in the Lake area has involved teens. which leads to the question what can be done to stop the violence among our youth?  A concerned citizen and statewide church group are among those working to help young people avoid trouble and find the right path. People from around the state who belong to the Louisiana Home and Foreign Missions of the Baptist State Convention Inc. are in Lake Charles this week.  An event at a local church site might ...

    More >>

    A lot of recent violent crime in the Lake area has involved teens. which leads to the question what can be done to stop the violence among our youth?  A concerned citizen and statewide church group are among those working to help young people avoid trouble and find the right path. People from around the state who belong to the Louisiana Home and Foreign Missions of the Baptist State Convention Inc. are in Lake Charles this week.  An event at a local church site might ...

    More >>
  • Lake Charles participating in National Night Out

    Lake Charles participating in National Night Out

    Wednesday, July 26 2017 7:06 PM EDT2017-07-26 23:06:58 GMT
    (Source: Raycom News Network)(Source: Raycom News Network)
    Lake Charles officials will be hosting the city's annual National Night Out Against Crime. Multiple events will be held Tuesday, Aug. 1, in Lake Charles. The Lake Charles Police Department is hosting the following events for the public: The Oak Park Neighborhood Watch Group Join South Lake Charles Watch Groups at Glad Tidings church from 6 p.m. until 9 p.m. Jones Manor Community Building (located at 1409 St. Mary Drive) Food, games, arts and crafts will be provide...More >>
    Lake Charles officials will be hosting the city's annual National Night Out Against Crime. Multiple events will be held Tuesday, Aug. 1, in Lake Charles. The Lake Charles Police Department is hosting the following events for the public: The Oak Park Neighborhood Watch Group Join South Lake Charles Watch Groups at Glad Tidings church from 6 p.m. until 9 p.m. Jones Manor Community Building (located at 1409 St. Mary Drive) Food, games, arts and crafts will be provide...More >>
Powered by Frankly