$8,000 Tax Credit - Changes Coming!

By
Real Estate Broker/Owner with ERA Landmark Real Estate

Wondering what is happening with the First-time Homebuyers $8,000 Tax Credit that is set to expire November 30, 2009?  Congress is looking at some modifications of the existing program to change payback provisions for military personnel, including an extension of the 3 year limit for resale.  Could this be an indication of a tendency to consider extension of the tax credit program?  What do you think?

  Read this article written by Kenneth R. Harney for RealtyTimes.com about the $8,000 tax credit changes.

  "The first major change to the $8,000 home buyers tax credit began moving through Congress last week, giving hope to real estate and building groups pushing for extension of the entire program before it expires Nov. 30." ...

http://realtytimes.com/rtpages/20090921_washingtonreport.htm

 

Ray Atteberry

Ray Atteberry
CRS, GRI, GREEN, Broker
Phone: (406) 556-5053
Send me an email

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Rainmaker
279,699
Jeff Craig
Allen Tate Realtors/Smith Marketing Inc. - Greensboro, NC
Greensboro Realtor/Broker/CSP/CNRS

We are keeping our fingers crossed!

Oct 01, 2009 03:36 PM #1
Rainer
24,155
Carol Hanson Sheehy
Prudential Florida Realty - Naples, FL

It is a great program.  It is such a help to new home owners!  Let's hope it continues!

Oct 01, 2009 03:39 PM #2
Rainmaker
335,106
Matt Listro
National Credit Fixers - Matt Listro - Vernon, CT
Your Credit Repair Expert

Hi Ray: I hope they find a way to get the extension passed!  It will be good for everyone!

:)

Oct 01, 2009 03:49 PM #3
Rainer
30,552
Peter Rozsa
Cupertino, CA - Cupertino, CA

It's another re-distribution of wealth scheme. Take tax money from me and give it to someone else who hasn't earned it.

Socialism rules in this country and Obama is the anointed leader.

 

BTW, I am a Realtor, and it has given my 1st time homebuyers an incentive to buy. But, in SF Bay area the average home price is about $750k, an $8k incentive will barely pay for some of the closing costs.

Oct 01, 2009 09:00 PM #4
Anonymous
Anonymous
Anonymous
Well put Peter. It will put more money in our pockets but bankrupt the country. Hmmmm, which should we care more about? I can see from most peoples' reactions, the answer is, as always, the self interested one.
Oct 04, 2009 03:53 PM #5
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Rainer
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ERA Landmark Real Estate Bozeman, Montana

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