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.
Louisiana REALTORS® CEO Norman Morris issued the following statement after SpaceX announced plans to invest $100 billion in a new launch facility in Vermilion Parish. The project is expected to create 3,000 direct jobs and more than 8,100 indirect jobs across Acadiana. “SpaceX’s investment is an extraordinary economic win for Louisiana. We congratulate Governor Jeff Landry, Louisiana Economic Development Secretary Susan Bourgeois, Vermilion Parish leaders, and everyone who helped bring this historic project home. The housing and infrastructure improvements needed to support more than 11,000 new job opportunities should generate a huge economic boost to the Acadiana and Gulf Coast region. According to the National Association of REALTORS®, each typical Louisiana home sale generates approximately $88,600 in economic activity. Even if only half of the new SpaceX related jobs lead to a home purchase, the impact would generate nearly half a billion dollars across our state's economy. That improves our tax base and school systems, and ripples through our economy touching builders, bankers, hardware stores, appliance dealers, contractors and so many more. “Housing is not downstream of economic development; it is an essential infrastructure. Louisiana REALTORS® and our partners stand ready to help turn these new jobs into homes, stronger communities and lasting roots in Louisiana. Economic development creates jobs, but housing turns those jobs into homes. Let’s make Louisiana home again, together.” Economic-impact estimates are illustrative calculations by Louisiana REALTORS® using employment projections from Louisiana Economic Development and the National Association of REALTORS®’ estimated economic impact per typical Louisiana home sale. They are not forecasts or recurring annual-impact figures. Enjoy the video below from the Louisiana Department of Economic Development .
Explore technology investments that help Louisiana real estate agents stay organized, strengthen client relationships, and market more effectively.
Selling a home in Louisiana? See how an experienced real estate agent helps keep your transaction on track from offer acceptance to closing.
