Expanded First-Time Home Buyers’ Incentive

February 9, 2009 at 7:57 am 2 comments

There has been much talk recently about modifying the current $7,500 first-time home buyer tax credit by making it available to any home buyer and increasing it to $15,000. This change to the home buyer incentive is in the works – it is not a LAW.

In my opinion, if and when the doubling of the incentive is approved by Congress, this is going to stimulate home buying – especially for those who are on the fence or are attempting to time their purchase to when the real estate market “hits bottom.”

Along with low interest rates kept at below 5 percent levels and very low prices, an increased tax credit will give home buyers a strong reason to dive into the real estate market despite the difficult overall economy.

To learn more about how the current $7,500 home buyer tax credit works, go to:
http://www.federalhousingtaxcredit.com/faq.php.
To learn more about the expanded home buyer tax credit go to http://www.housingstimuluspackage.com/

Entry filed under: Arizona Real Estate, Chandler Real Estate, Phoenix Real Estate, Real Estate Deals. Tags: , , , .

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2 Comments Add your own

  • 1. Arizona Realtor  |  February 9, 2009 at 2:08 pm

    If home prices weren’t enough incentive to finally make the transition into a home, the extended home buyers’ incentive should be. This makes the move even more affordable than it already is!

    Reply
  • 2. Chris  |  February 10, 2009 at 12:01 pm

    FOR THOSE WHO BOUGHT IN JANUARY:
    THE HOUSE PASSED THE BILL FOR A $7500 TAX CREDIT THAT DOESN’T NEED TO BE REPAID AND IS AFFECTIVE FOR PURCHASES OF HOMES AFTER 01/01/09.
    THE SENATE CHANGED IT TO A $15,000 TAX CREDIT BUT IT IS ONLY AFFECTIVE FOR PEOPLE WHO PURCHASES AFTER IT’S SIGNED.
    IF THE SENATE PASSES THERE’S TODAY, THEN THERE WILL BE A MEETING BETWEEN MEMBERS OF THE SENATE AND MEMBERS OF THE HOUSE TO WORK OUT THE DIFFERENCES BETWEEN THE 2 BILLS.
    I BOUGHT IN JANUARY SO I OBVIOUSLY WANT THE $15,000 TAX CREDIT THE SENATE PROPOSED BUT WITH THE START DATE THE HOUSE PROPOSED.
    YOU NEED TO MAKE YOUR VOICE HEARD AND CONTACT YOUR SENATORS AND HOUSE REPRESENTATIVE. THIS IS AMERICA SO YOUR VOICE IS YOUR POWER. E-MAIL THEM OR CALL THEM. HERE IS A CONVENIENT NUMBER. CALL AND ENTER YOU ZIP CODE AND IT WILL GET YOU IN CONTACT WITH ALL OF YOUR CONGRESSMEN. DECISIONS ARE BEING MADE, DO IT NOW. 1-866-924-NAHB (6242)

    Reply

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