Tim Houk

19617 W Piney Point Ave

“Custom built by Chuck Dupree with luxury pool and spa by Ewing Pools. This 20 year old home is effectively “better-than-new” because of high quality of construction and meticulous updates and maintenance. If you are looking only at “new” homes, you owe it to yourself to see this home! Mature, professional landscaping amongst towering, lovely trees creates your own private park and oasis. Nailed, antique heart pine floors in living room and dining room. Fine Mexican tile in kitchen, breakfast and keeping rooms. Italian marble floors in luxurious master bath. Gleaming cypress cabinetry in kitchen, keeping and living rooms. TWO fireplaces! Wood mullioned windows wrapped in wood mouldings are further evidence of quality craftsmanship. Custom draperies and antique chandiliers remain. The custom Ewing pool has tiled edges, brick surrounds, parapets and walkways to create a serene, classic personal resort for homeowner and guests alike. Built-in hottub of gunite and brick has seating for one or several and provides a refreshing waterfall into the pool. Multi-levels of patio give different perspectives and additional privacy. The park like rear yard has room for recreation or just more of Mother Nature’s gifts. Beautiful granite countertops and island top in the gourmet kitchen is a recent update. You may be hard-pressed to fill all the cabinets in the kitchen and pantry, but you can try! Split floorplan for in-laws or guests. Master bedroom views pool. Super high ceilings and great natural light throughout the day. Circular front drive gives guests ample parking and you can still access the rear laoding, double+ garage”

19617 W Piney Point Ave

What a remarkable complex in the heart of the city.  Tons of greenspace, walking trails, clubhouse, workout facility, pool, access to almost everything in minutes.  Take a look at these pictures of an upcoming unit and of the model unit.

HUD: Tax Credit Can Be Used on Closing Costs
FHA-approved lenders received the go-ahead to develop bridge-loan products that enable first-time buyers to use the benefits of the federal tax credit upfront, according to eagerly awaited guidance from the U.S. Department of Housing and Urban Development on so-called home buyer tax credit loans that was released today.

Under the guidance, FHA-approved lenders can develop bridge loans that home buyers can use to help cover their closing costs, buy down their interest rate, or put down more than the minimum 3.5 percent.

The loans can’t be used to cover the minimum 3.5 percent, senior HUD officials told reporters on a conference call Friday morning.

Thus, buyers applying for FHA-backed financing with an FHA-approved lender that offers a bridge-loan program can get a bridge loan to bring down the upfront costs of buying a home significantly but would still have to come up with the minimum 3.5 percent downpayment.

There remain many sources of assistance for buyers needing help with the 3.5 percent downpayment, including many state and local government instrumentalities and nonprofit lenders.

In addition, some state housing finance agencies have developed their own tax credit bridge loan programs, so buyers in states whose HFAs offer such programs can monetize the tax credit upfront to cover all or part of their downpayment. These programs are separate from what HUD announced today.

The first-time homebuyer tax credit was enacted last year–and improved upon earlier this year–to help encourage households to enter the housing market while interest rates are low and affordability is high. The credit is worth up to $8,000 and is available to households that haven’t owned a home in at least three years. The credit does not have to be repaid, and is fully reimbursable, so households can get their credit returned to them in the form of a payment.

Learn more about the credit, including how to apply for it this year even if you’ve already filed your taxes, at REALTOR.org.

From the Baton Rouge Business Report:

Baton Rouge home prices were up 2.4% in March, compared to the year before, another sign of market stability in the wake of a national housing downturn. The modest increase was a little worse than the February numbers from First American CoreLogic’s Home Price Index. In February, Baton Rouge home prices were 4.14% higher than what they were in February 2008. Nationally, home prices were down 11.5% in March when compared to the year before. In Louisiana, home prices were up 1.76% in March, the third-highest appreciation rate in the nation. Only West Virginia (7.45%) and South Dakota (1.95%) were higher. First American bases the HPI on public records sources such as property sales, tax assessments and mortgage filings. First American notes that 44 states had price declines in March, compared with 30 the year before, and the number of states posting double-digit price drops went from seven in March 2008 to 14 in March 2009. First American notes that U.S. home prices, which peaked in July 2006, have fallen more than 22% and are at their lowest point in five years

Deal of the week!

866 s burgess, baton rouge, la 70816 225-301-7467

There’s more than you expect in this 4 bedroom 3 bath home with over 2300 sqft of living. Be surprised by the size of the master suite that includes a glass walled walk-in shower, double vanity, walk-in closet and a full attached sitting room. Attached to the sitting room in a computer nook that is wired for everything. (As are most all of the rooms) Enjoy both a dining room & a breakfast area. Enjoy both a living room and a den. There is enough room to make this home very livable. The floor plan is split with the Master to the rear and the other 3 bedrooms to the other side of the house. Bedrooms 2 & 3 share the hall bath and bedroom 4 has its own bath with tile shower. Don’t miss the huge screened in back porch & fenced backyard. Note the metal doors with insulated windows, the tile & wood laminate floors, & the size of the utility room. This home needs some TLC but is a great value if you need lots of space on a nice street just off of Goodwood.