$8000 First-time Tax credit can be used on closing costs

Last Friday, the U.S. Housing and Urban Development announced guidance which allows home buyers to utilize the tax credit upfront. Under the guidance, FHA approved lenders can create bridge loans based on the tax credit. These loans would enable home buyers to buy down interest rates, help cover closing costs and for increasing the down payment over the minimum 3.5 percent. Buyers would still have to have the 3.5% minimum required for the down payment.


The first-time home buyer tax credit was enacted last year--and improved upon earlier this year--to help encourage households to enter the housing market while interest rates are low and affordability is high. The credit is worth up to $8,000 and is available to households that haven't owned a home in at least three years. The credit does not have to be repaid, and is fully reimbursable, so households can get their credit returned to them in the form of a payment.

Here's a waterfront lot I have listed on Lake Conroe. The MLS#61284788.

Spring on Lake Conroe

Well, spring has indeed sprung! There are lots of folks out on Lake Conroe these days enjoying all sorts of fun activities. There are plenty of people fishing. In fact, so many that I figure they must be catching something. Perhaps I should drop my line in the water. Since it has been nearly 80 degrees the past couple of days, there have been people tubing. I think those brave souls may be a bit youger than I because I consider it a bit too chilly for that activity. Although yesterday morning I got on the jet ski and took a little spin. I was very cautious not to get splashed or turn over but hot weather will be here soon enough. Seeing all these people out on the lake makes me wonder, what's your favorite thing about the beginning of spring?



If you are thinkg about buying a house in this area, please give me a call. Interest rates are really low and there are some great incentives for first time home buyers. And if you are planning on building your waterfront home on Lake Conroe, there are still some nice waterfront lots available. I look forward to hearing from you! Happy spring!

Date of elections

The EARLY voting begins on February 16th. The actual election is on February 18th at the Walden Yacht Club at 6:30 p.m.

Thanks to Steven Carr for correcting this!

Grand Harbor Elections

I serve on the Grand Harbor/Harbor Side nominating committee for the upcoming elections. Last night the committee certified a total of five people to fill four upcoming vacancies on the board. Those persons who will be on the ballot are: Joe Coleman, Gery Dobbins, Cecil Rankin, George Tolar, and Robert Yates. Congratulations to all of the candidates and we wish them all the best of luck! I know I appreciate people being willing to take time out of their busy schedules to help make our community better.

A reminder that we have a "Meet the Candidates" reception on Monday, February 2, 2009 at the POA office from 6:00 - 8:00 p.m. Y'all come meet these guys and be an informed voter!

The election will take place on Monday, February 16, 2009 from 8:30 am until 8:00 pm at the POA office. Please contact the POA office for more information about voting eligibility and the use of proxies.