New Condos Start Construction Downtown!

The shovels have hit the dirt at University Lofts as these exclusive condos begin to take shape in Cleveland's "College Town." Appropriately timed with the neighboring Cleveland State University Basketball team making it back to the NCAA Tournament, the University Lofts have begun to take shape and are ready to rise.

Just before St. Patrick's Day rolled through downtown Cleveland, footers were dug at the site of 2030 Euclid Avenue. Before construction began, brothers David and Jay Kaufman (developers) spent tireless hours promoting the project and earning the three pre-sales that were necessary to get the building built. Five condos are still available including Penthouse level units. ESTIMATED OCCUPANCY FOR FIRST QUARTER 2010!

Call Scott Phillips Jr. today at 216.373.6959 or email scottphillips@howardhanna.com.

Real Estate Market Turns Around in February!

Based on an article from the National Association of Home Builders (NAHB), nationwide housing trends turned around in February 2009, posting a 22.2% gain on housing starts. On a regional level, the Midwest posted an outstanding 58.5% gain!

Building permits, which tend to be an indicator of future building activity, rose 3% overall and 11% in single-family permits. “Builders did pull a larger volume of single-family permits in February, suggesting a glimmer of hope for the prime home buying season, which is near at hand,” said NAHB Chairman Joe Robson.

Information for this article was derived from www.NAHB.org.

For more information on the new homes in Cleveland, call Scott Phillips at 216.373.6959 or email ScottPhillips@howardhanna.com.

$8000 Tax Credit Available to First Time Home-Buyers!

That’s right! First time home-buyers are eligible to receive the Federal Government’s $8000 tax credit! In order to receive this wonderful incentive you need to officially own your home by December 1, 2009. Don’t forget, it can take some time for us to find your dream home, so contact Scott Phillips Jr. at (216) 373-6959 or ScottPhillips@howardhanna.com today!

Who is eligible?

Eligible people must not have had ownership interest in a home in the past three years. They must take ownership in their new home by December 1, 2009. Finally, the adjusted gross income must be less than $95,000 for an individual or $170,000 for those filing jointly.

How does it work?

You receive a tax credit when you file your 2009 tax returns of 10% of the sales price of your home (maximum tax credit of $8,000). Tax credit does not have to be repaid as long as you own the home for at least 3 years. Earn your tax savings during your first year of home ownership!