State encourages home ownership - WALB.com, Albany News, Weather, Sports

State encourages home ownership

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By Jennifer Emert - bio | email

ALBANY, GA (WALB) - Governor Sonny Perdue signed a bill that gives you a tax credit up to $1,800 if you buy a home in the next six months.

That's in addition to a federal credit up to $8,000 offered through the stimulus act for first time homebuyers.

Realtors say the credits along with record low interest rates make now a great time to buy.

"There's a window of opportunity here that buyers need to take advantage of, because in 25 years of being in this business, I've never seen incentives like this," said Gary Eller President of the Albany Board of Realtors.

At least in Dougherty and Lee Counties, the incentives appear to be working. Realtors say the number of closings steadily climbed from 49 in January to 75 last month.

That's still down from the boom of 2005 where on average there were 90 closings a month.

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