Home Creations News

New home sizes shrinking

Robin Meade of Morning Express with CNN reported this morning that the median new home size is getting smaller . It’s now 2,065 square feet. Our average home sold this year is roughly 1,550 square feet, 3 bed, 2 bath, 2 car garage brick structure for around $147,000. Guess the McMansions of yesterday are no longer in style.    Edit: To clarify the new smaller home size – the new median size of 2,065 square feet is for new construction. Sorry for the confusion.

Will home buyer tax credit be extended?

The National Association of Home Builders is urging members to contact Congress for a one-year extension of the $8,000 home buyer tax credit.  In addition, the NAHB also wants Congress to offer the $8,000 to any home buyer purchasing a primary residence. The way the program works now, only first-time buyers or those who have not owned a home in three years are eligible. This article from NBN News says that extending the program would mean 350,000 new jobs and an additional 383,000 home sales.  

What will you do with your $8,000 tax credit?

If you are one of the recipients of the $8,000 home buyer tax credit, tell us what you’ll do with the money. Will you be financially savvy and invest / save it? Will you spend it on furniture or a vacation? Also, did the $8,000 seal the deal on your decision to buy a home this year, or would you have bought without a financial incentive? Let us hear from you.  

Those who hesitate miss the rebate

First-time home buyers, I’m talking to you. Now is definitely a great time to be in the market for a new home. Not only can you qualify for up to an $8,000 tax credit on your next tax return, you are eligible for a 3.5% down payment assistance bond offered by the Oklahoma Housing and Finance Agency (OHFA). Couple that with already low mortgage interest rates and you can see why now is the time purchase that dream home you have always wanted. However, time is starting to run out. In order to receive the tax credit, you must close on …

Newlyweds & new homes

I’ll be attending my fourth wedding this weekend (congrats to Home Creations awesome graphic designer and her future hubby). Two of the four couples tying the knot this summer already own homes; the other two are renting. A smart, practical thought: while it’s nice to register for cookware and linens, brides and grooms should also start a new home savings account. Ask friends and family members to contribute toward down payment, closing costs and pre-paids. The $25 or $50 spent on blenders and blankets could be better utilized toward a new home. New life, new wife, new home. Life doesn’t get …