Lawrence Losing Tax Dollars to Wyandotte
With interest rates at near record lows as home prices have fallen a few percentage points in the Lawrence, Kansas area instead of our traditional 3% to 8% annual increase in values, the first half of the year 2009 may prove to be a rare and unique buying opportunity for all types of real estate investments with first time home buyers having an even bigger reason to buy in early 2009.There is an incredible opportunity for first time home buyers anywhere in the United States including Lawrence, Kansas in the first half of 2009. The link at http://hedgesrealestate.com/buyertaxcredit.html tells some of the details about how home buyers can qualify for that $7,500 credit. With interest rates below 5%, this is a unique opportunity for someone to make their first real estate investment as their first home.So, with a tax credit of $7,500 available, interest rates at record lows below 5%, and recent declines in home prices, this may be one of the few times in history that this type of perfect storm has been created to give home buyers, especially first time home buyers the incentive to buy a home now. Unfortunately, most will miss this opportunity and sit and look back years from now and wish that they would have purchased a home during this time.As for me, I'm off to the bank tomorrow to lock in a low interest rate. I hope lots of you do the same.
Wonder why our sales tax collections are down in Douglas County and Lawrence? Check out the large number of Douglas County car tags at Nebraska Furniture Mart and the Legends Shopping Center. While Lawrence has spent years, if not decades, fighting to save downtown and pushing away larger shopping developments, Wyandotte, which was a scary place to go when I was a kid, became the best tourist attraction and shopping area in Kansas. Would The Legends Shopping Center have been approved by the Lawrence city commission? Probably not because it's stores have too many "big boxes" and it had "too big of a footprint". The T-Rex restaurant would have been prevented due to it's height and signs. Goodbye tax dollars. Perhaps we can all get jobs in Wyandotte if we don't start allowing some "destination" type attractions in Lawrence and Douglas County.