The Commercial Appeal - Toni Lepeska
November 15, 2009

DeSoto County and its five cities are once again poised to record far fewer single-family building permits for the year, but a recent up-tick in month-to-month numbers are making officials feel optimistic.

"It's maintaining. It's holding," said Jim McDougal, county planning director. Month-to-month, numbers of issued permits the last half of the year are about double the numbers in the earliest months of the year.

In January and February, 20 permits were issued in each month by the county and city governments. By May, the number was 43, and the figures remained higher in the summer and early fall. For the year, however, the county and the cities are on track to see an estimated 34 to 35 percent decrease in single-family building permits issued in 2009. In 2008, 603 single-family building permits were issued. Through October, as winter and the off-season for building approached, 393 had been issued.

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Memphis Daily News – Eric Smith
April 28, 2009

Like many people, Tyree Nesbit III became addicted to the 24-hour news networks during last year’s presidential campaign.

That habit of keeping up on current events carried over into the new year as Nesbit followed the new administration’s efforts to jumpstart the economy with programs like the American Recovery and Reinvestment Act of 2009, aka the stimulus bill. As Nesbit overdosed on news shows, he became familiar with plans to salvage the housing market through the stimulus bill’s tax credit for first-time homebuyers.  Nesbit, who had recently moved back to Memphis after graduating from college, and was looking to buy a home. Nesbit already was familiar with the existing tax credit, which was, in effect, a $7,500 loan that required repayment. And while that would have been enough of an incentive to move forward with a purchase, the new bill – an $8,000 credit that did not have to be repaid – made the deal too good to pass up.

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4.13.09 – Fox 13

MEMPHIS, Tenn. - For sale signs on Mid-South homes seem to be a common thing, but this could be a goldmine for first time home buyers if they take advantage of a government offer.

It is giving an $8000 stimulus incentive to first time buyers and it doesn't have to be paid back. "I've told everybody I can, I Xeroxed it, I put it on Facebook, emailed it to anybody I know of that wants to buy a new home," says Spring Lamb who bought her first home in Southaven last year and when she went to file her taxes this year, it meant $7,500 extra in her wallet. "I put that through the system, it came out within what like five minutes to show up and when I E-filed it took three weeks to go to my bank account, I used that to pay off a car and two credit cards ," says Lamb. She received last years interest free tax credit which she'll pay back through installments over the years, but this year, its $8,000 and doesn't have to be paid back. Homebuilders Association of North Mississippi president Donnie Chambliss says it's the best time in history for first time homebuyers.

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