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Introducing Louisiana First Home
LOUISIANA REALTORS • March 12, 2018
Invest in the Future. Invest in Louisiana.
As a REALTOR®, you know that many aspiring first-time homebuyers in Louisiana find it hard to save for a down payment, especially young families that are heavily burdened by student debt. Inline with our mission as the Voice of Real Estate, Louisiana REALTORS® is working with REALTOR® & Representative Paula Davis (District 69) to pass House Bill No. 383
- First Time Home Buyer Rebate
as part of the 2018 Legislative Session.
This bill would allow first-time home buyers up to $7,500 in closing costs and down payment in the form of a rebate filed for after the completion of the purchase.
But this program helps more than just first-time homebuyers. These rebate dollars will be spent by these homeowners on improvements and products for their new home. This, in turn, would give additional business to people employed in the home improvement industry and stores where home products are purchased. Other states like Mississippi and Iowa have had success in getting similar programs passed.
While we recognize our state is in a budget crisis and there is an uphill battle in getting this legislation passed, we want to be proactive for consumers. Should our state's budget be a barrier to passing this new program, our goal is to introduce this concept and educate legislators and the public about the important role REALTORS® and home ownership plays in our communities.
As previewed last week, NAR is pleased to share the latest consumer guide focused on preparing for homeownership. This guide covers what prospective buyers should consider as they kick off the home purchase process, including the importance of credit scores, mortgage pre-approval, down payments, budgeting, and educational resources. As a reminder, all guides in this series are available for download—in both English and Spanish—on facts.realtor . Please allow a few days for the Spanish version of the latest resource to be translated and uploaded. For ease of reference, below is a list of the most recent guides: NEW: Preparing for Homeownership Escrow and Earnest Money Pricing Your Home Preparing to Sell Your Home Fire Damage and Policy Coverage Thank you for your continued engagement with the “Consumer Guide” series and for sharing the resources with potential clients to ensure they have the information they need to be successful in their homebuying or selling journey. Remember that these guides are for informational purposes only and are not meant to enact or change any existing NAR policy. Be on the lookout for next week’s guide on Wednesday, which will cover property taxes.
As previewed last week, NAR is pleased to share the latest consumer guide focused on escrow. This guide covers what homebuyers should know about earnest money deposits, including the general terms and use cases in real estate transactions. As a reminder, all guides in this series are available for download—in both English and Spanish—on facts.realtor . Please allow a few days for the Spanish version of the latest resource to be translated and uploaded. For ease of reference, below is a list of the most recent guides: NEW: Escrow and Earnest Money Pricing Your Home Preparing to Sell Your Home Fire Damage and Policy Coverage Flood Insurance Thank you for your continued engagement with the “Consumer Guide” series and for sharing the resources with prospective clients to ensure they have the information they need to find success in their homebuying or selling journey. Remember that these guides are for informational purposes only and are not meant to enact or change any existing NAR policy. Be on the lookout for next week’s guide on Wednesday, which will cover preparing prospective buyers for homeownership.
The Louisiana REALTORS® Board of Directors will conduct several elections this Spring. Interested candidates that meet the qualification who are looking to serve at either the state association level or the national association level are encouraged to view the criteria and submit an application. An application that is not submitted on the appropriate form or not submitted pursuant to the instructions shall not be considered as submitted timely.
821 Main StreetBaton Rouge, LA 70802
821 Main Street
Baton Rouge, LA 70802