Kansans capitalizing on tax credit to buy first house / LJWorld.com

Archive for Sunday, November 22, 2009

Associated Press

November 22, 2009

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Wichita — A national study prepared for Congress shows about 2.2 percent of Kansas households will use the $8,000 first-time homebuyer tax credit to buy their first house.

The National Association of Realtors’s rate estimate, based on the state’s 1.03 million households, is comparable to surrounding states. The Kansas figure is higher than Missouri at 2 percent and Nebraska at 2.1, but lower than Oklahoma’s 2.7 percent and Colorado’s 2.5 percent.

The group said the credit prompted about 1,500 additional buyers into the Kansas market through September. NAR estimated there were 22,900 first-time buyers taking advantage of the credit.

“We’re very appreciative that we’ve had that tax credit to work with,” said Roger Weast, president of Wichita’s J.P. Weigand & Sons. “It certainly would have dimmed our year without it.”

Those numbers were figured before the credit was extended by Congress through April 30. Congress also expanded it now to include a $6,500 credit to current homeowners buying a house between Nov. 7 and April 30.

NAR estimated 52,800 home sales this year in Kansas. That is down about 5,600 from 2008.

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