A Realtor advocating the end of the Home Buyer Tax Credit? In some ways, yes. Don’t get me wrong, the Credit has helped our industry without a doubt but we all know it is not something that is going to go on forever and it can’t be extended every time it gets set to expire.… Continue reading Now Would Be a Good Time to Let the Buyer Tax Credit Die
The Homebuyer Tax Credit died quietly and lonely on Friday April 30th at the stroke of midnight. There were no attempts at resuscitation and even previous supporters agreed that the Credit had served its purpose and that it is time to move on and let the real estate market stand on its own.
According to the email just sent out by NAR President Charles McMillian, the approved Obama Stimulus package fixes what the government was calling a credit but was really a loan. It also says that the credit, now a true credit, raises to $8000. Smart Money does a good job of Explaining What it Means to… Continue reading Obama Stimulus Package Fixes $7500 Tax “Credit”
It’s not news that the home buyer tax credit is set to expire on April 30th. In order to take advantage of the $8000 First Time Buyer credit or the $6500 credit, you must have an accepted offer by that date and the transaction must close on or before June 30th. The exception is for… Continue reading Military Personnel and The Home Buyer Tax Credit
On November 7th, 2009 the First Time Home Buyer Credit was extended and expanded to provide a $6500 credit to existing homeowners that qualify under a set of rules. The Credit was set to expire November 30th. It had been an active topic of congressional conversation for months prior. April 7th is just nine days… Continue reading Five Weeks Left for Home Buyer Tax Credit
June 30th, 2010 is 93 days away (8,035,200 seconds for fans of Rent). Lack of indicators, to the contrary, make us believe that you have until then to close any contract that allows you to take advantage of the federal home buyer tax credits. A short sale is unlikely to qualify in that time frame… Continue reading Short Sales and the Home Buyer Tax Credit
There is no sign that the $8000 First Time Home Buyer Tax Credit or the $6500 Tax Credit are going to be extended. If you want to take advantage of either you must have an accepted offer by Friday, April 30th. The transaction must close by June 30th.
The Home Buyer Tax Credit expires tomorrow: $8000- amount that qualified first time home buyers are eligible for $6500- amount that qualified repeat home buyers are eligible for $7500- amount that first time buyers were eligible for in the first version (which must be repaid) 85- votes by Senate in November 2009 to extend the… Continue reading Home Buyer Tax Credit By The Numbers
Is the Home Buyer Tax Credit Extended? No. The Senate approved a proposal yesterday to extend the CLOSING period of the tax credit from the current June 30th to September 30th. If you weren’t eligible for the credit today you won’t be when and if the Senate and House vote to pass the actual legislation… Continue reading Is the Home Buyer Tax Credit Extended?