West Houston and Richmond News

HUD Secretary Donvan Unveils New Details on Home Buyer Tax Credit

In a recent speech before the National Association of Home Builders (NAHB) Board of Directors, HUD Secretary Shaun Donovan today unveiled new rules that will help spur the housing market by allowing consumers to use the $8,000 first-time home buyer tax credit to help cover the costs of closing on an FHA-insured home.

“We believe this is a real win for everyone,” said Donovan. “Today, the Obama Administration is taking another important step toward accelerating the recovery of the nation’s housing market. Families will now be able to apply their anticipated tax credit toward their home purchase right away.”

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Lakemont's prime location at the entrance of the West Park Tollway, outstanding builders and new school within the community, have all helped it earned the ranking among the top most active residential communities last year. Lakemont was ranked No. 12 in the most active residential communities based on housing starts. Lakemont's new home sales have remained strong.

A new recreation center opened late last year in Lakemont, which is close to the Energy Corridor and is easily accessible to the Texas Medical Center, downtown and the Galleria via the tollway.

The 900-acre master-planned community is home to lakes, parks, walking trails, neighborhood pools and more than 1,300 homes. New homes are priced from the $130,000s to the $300,000s.

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