Who Wants A $15,000 Tax Credit To Buy A New Home?..........Sike
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Well we have all been waiting with baited breath on the Economic Stimulus package. We have heard about the House version, the Senate version and now the new and improved approved version. We were all excited that the Economic Stimulus Package would include a $15,000 for people who purchased a home within the next year. Well it ain't so no mo.
A $15,000 tax credit for anybody buying a home over the next year was dropped; instead, first-time home buyers could claim an $8,000 credit for homes bought by the end of August. You can read the full AP Story HERE
Sorry guys. I guess we will have to stand in another line to collect our portion of the stimulus money :)
Have A Great Day
Make This YOUR Best Year Ever
Leander McClain, Burlington Township Realtor & Real Estate Consultant, EXIT Buyers Plus Realty, 15 E. Broad Street, Burlington, NJ 08016 609-505-6578(cell)
I am not a big fan of bailouts, but I am sorry that one was left out. It seems to me that it might provide more "hands-on" benefit for the general public than most of the pork.
Steve,
I have to agree. I think we need provisions to deal with people who have already purchased and are facing foreclosure and people who want to buy, but are afraid to get off the fence.
I am praying that the stimulus package will work.
We will certainly see.
have a great day
Leander
Hi Leander... I should have read my favorite peoples posts before I posted today! I too just posted on the drop of the $15K. Isn't it amazing how it was real estate that was hailed as having kept some of the market afloat a few years ago BUT that our politicians dropped a tax credit that would have had HUGE impact on the housing industry!?! Just blows my mind. You may be right - I'll join you in prayer...
Of course it was taken out...it may have helped builders, new homeowners, and Realtors/Loan Officers!! Far more important bto keep that $30 million for Speaker Pelosi's "Mouse" project in her San Francisco district....THAT will help out the rest of us!!!
I am not sure how this bill will help, but I am optimistic. Anyways this is my opinion, in the mean time, I just came across a very helpful website on the current economic downturn and employment. http://www.recessioninfocenter.com
Hey Leander... we've been sold down the river, again! The rich get richer, and... :-/
p.s. I think half the AR bloggers have posted something about this topic the last couple of days - but we have to wait to see what the House does with it... me thinks the end product will suck like an octopus.
I am sure the reason they removed the home buyer credit was to fund some nice petting zoo or dog walking park.
I just hope that whatever they do it helps all of us, and especially the ones that are losing their homes.
I like the shoes. I was really hoping they would approve this credit for all homebuyers instead of first time homebuyers.
I wish I didn't have a FHA loan cause if it was possible I'd sell my house and buy another to get that credit!