Signs on Home Avenue in Franklin advertise homes for sale and the U.S. government’s first-time homebuyer tax credit in October 2008.
Daily Journal Archives
News from around Johnson County as reported on Oct. 24 in the pages of the Daily Journal and the Franklin Evening Star from the last 112 years.
On this day in 2009, the main story on the front page of the Daily Journal was about how a soon-to-expire federal tax credit was helping first-time homebuyers.
Newly married couple Rebecca and Ryan Ritter had become the proud owners of an 1,850-square-foot brick ranch just north of the Johnson-Marion County line.
But an in-ground swimming pool wasn’t the only thing that sweetened the deal for the home; so did an $8,000 tax credit for first-time homebuyers.
“It was definitely an incentive that we didn’t want to lose out on,” Ryan Ritter said.
The Ritters were among many potential homebuyers flocking to local real estate offices, hoping to take advantage of the tax credit before the Nov. 30, 2009, deadline, agents said.
Federal lawmakers were working to extend the deadline for the credit, but agents were urging potential homebuyers to close as soon as possible for the best chance of getting approved.
Because the title must already be transferred for a home to be eligible for the credit, people shouldn’t wait to see if there’s an extension, said David Pierce, an agent with Jarvis Realty group.
“I think the message has gone through, that time is running out to get the $8,000 tax credit,” he said. “The amount of seriousness [from buyers] to make this happen has increased.”
Some people asking about the credit were going to buy a home anyway, but others changed their plans and decided to buy sooner because of it. Potential homebuyers have moved up their timetable to buy a home, scrutinized their finances and started looking for aggressively, Pierce said.
Low interest rates and deals on bank-owned properties were also enticing people to buy sooner rather than later.
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Other memorable Johnson County stories from this day
2018
The Franklin City Court was preparing to move to a new space on U.S. 31.
2002
State officials held a public hearing on a contentious issue regarding the site of a new Franklin high school building.
1994
The rezoning of land for a new Franklin Walmart was reaching the finish line.
