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Archive for the ‘Housing Market / Economy’ Category
Tuesday, March 2nd, 2010
The State News recently published helpful information about Kent County real estate trends for the period between November and January over the past decade. It was compiled by realtor Cynthia Witt and squares with what we at Lessard Builders have experienced.
After a three-year decline, her data indicates a recent uptick of 32 percent from 392 last year to 516 homes this year sold during that period. Even more encouraging for buyers is that the average price of homes sold in previous years during the same period dropped by $50,000 from $254,974 to $204,344. Add that to the current low interest rates and tax benefits for first-time homebuyers and existing homeowners, and it becomes a true buyer’s market.
From the perspective of a third-generation builder, three things are evident:
- Home prices have stabilized;
- While interest rates are still quite low, they are not expected to remain so in the long term;
- The current deadline to apply for the tax breaks requires buyers to contract by April 30, with settlement before July 1.
This confluence of events suggests that anyone considering buying a home should pull the trigger now before consts of labor and materials rise.
Lessard Builders Inc., is a third-generation, family-run business based in Camden, DE.
Brian P. Lessard
President
Lessard Builders Inc.
Sunday, February 21st, 2010
 The Worker, Homeownership, and Business Assistance Act of 2009 has extended the tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence. It also authorized a tax credit of up to $6,500 for qualified repeat home buyers.
The following are frequently asked questions and important information that prospective home buyers should be aware of when considering a home purchase under this tax credit program.
Thursday, February 11th, 2010
The following is a letter to the Editor of Delaware State News as it was printed on January 26, 2010.
Editor,
As the president of Lessard Builders I welcomed the good news associated with the unveiling of the Kent County 2010 Profile at the Kent Co. administration building on Jan. 26. The remarks of city, county, and state leaders reflected the economic progress of leadership focused on results.
State Economic Development Director Alan Levin cited a paradigm shift by state agencies, including DelDOT and DNREC, to foster a business environment where agency reviews will be both timely and responsive. He also focused on the state’s thrust to attract new business while working hard to keep existing businesses.
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Tags: Alan Levin, Brian Lessard, Brooks Banta, Carole Kisner, Delaware, Delaware State News, DelDOT, DNREC, Dover, Garrison Track Sun Park, Kent County, Kent County 2010 Profile, Kent County Realtors Association, Kent Econonmic Partnership, Lessard Builders, Mayor Carlton Carey Posted in: Housing Market / Economy, Lessard Builders News | No Comments »
Tuesday, February 2nd, 2010
 Kent County Association of Realtors President Carole Kisner shared some upbeat news about the local real es tate market Tuesday morning. Carole Kisner’s quote already appeared in Wednesday’s Delaware State News.
But it’s worth repeating as we let her elaborate here on the promise of a healthy real estate market in our area.
“You’ve heard all the gloom and doom,” said Mrs. Kisner. “But, baby, we’re coming back!”
Speaking as the new president of the Kent County Association of Realtors, Mrs. Kisner wanted to send an upbeat message at a Tuesday break fast gathering for the unveiling of the 2010 Kent County Profile magazine.
Consider, she said, that Kent County homes sold in December were on the market for an average of 126 days. In November, the average was 105 days.
Pending sales have continued to increase over the past eight months and the highest since 2006, she said. Meanwhile, inventory is down about 1 percent from six months ago.
“That means things are selling,” said Mrs. Kisner.
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Tags: Carole Kisner, Central Delaware Chamber of Commerce, Central Delaware Habitat for Humanity, Cynthia Witt, Delaware, Delaware Hospice, Dickinson Creek, Frederica, Hartly Volunteer Fire Co. Ladies Auxiliary, Home of the Brave, Kent County, Kent County Association of Realtors, Make-A-Wish Foundation, MS Bike to the Bay, National Association of Realtors, New Castle County, real estate, Salvation Army, SPCA, Sussex County Posted in: Delaware News + Events, Housing Market / Economy | No Comments »
Tuesday, November 17th, 2009
 Recently the President signed new legislation, the Worker, Homeownership, and Business Assistance Act of 2009. This new law extends the home buyer tax credit and expands it to some current homeowners. This law is not only an important step to keep the momentum going towards ensuring a real estate recovery, but also offers another great reason for buyers to purchase and sellers to list a home before Spring 2010!
We believe the substantial rise in home sales over the past few months will continue, and proves the tax credit is working and is being used by buyers who were waiting for the right opportunity to purchase a home. Extending and expanding the home buyer tax credit now enables even more families to take advantage of current low interest rates, large housing inventories, and affordable prices to invest in their future through homeownership.
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Monday, November 9th, 2009
 The Senate yesterday passed legislation to extend the $8,000 home buyer tax credit to May 1, 2010, for first-time buyers and add a $6,500 tax credit for repeat buyers if they’ve lived in their home for five of the past eight years. Home prices are capped at $800,000.
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