A surge of homebuyers looking to take advantage of the soon-to-expire $8,000 federal tax credit boosted home sales in the third quarter in and around Lexington.

The Lexington-Bluegrass Association of Realtors reported that sales of single-family homes rose 11.5 percent in Lexington in September compared to the same month last year. In the 14-county area, including Fayette, covered by LBAR members, sales of single-family homes rose 6.7 percent.

Of the 310 single-family homes sold in Lexington in September, 122, or 39.4 percent, were to first-time homebuyers, said LBAR president Gale Fulton. When you add in condos and town homes, the number of first-time homebuyers increased to 137, she said.

And there

RISMEDIA, October 3, 2009—Pending home sales have increased for seven straight months, the longest in the series of the index which began in 2001, according to the National Association of Realtors®. 

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in August 2009, rose 6.4% to 103.8 from a reading of 97.6 in July, and is 12.4% above August 2008 when it was 92.4. The index is at the highest level since March 2007 when it was 104.5. 

Lawrence Yun, NAR chief economist, said not all contracts are turning into closed sales within an expected timeframe. “The rise in pending home sales shows buyers are returning to the market and signing contracts, but deals are not necessarily closing because of long delays related to short

With time running out for the 1st time homebuyer tax credit, there are still great properties out there that are affordable and easy to move into before that November 30th deadline.

One such place is located in the Radcliffe neighborhood on the north side of Lexington.  Radcliffe is an established neighborhood with long-time residents and a perfect place for new homeowners to start establishing their own roots.  The house at 444 Lin Wal Drive is offered at $125,000 and is a charming Bedford Stone ranch with three bedrooms and one full and one half bath. 

The living area is bright with a large picture window and beautiful hardwood floors. The kitchen is a large room with ceramic tile floors and a stone, woodburning fireplace in the dining area.  A door