As I write this, Congress is trying to decide whether to extend the first-time home buyers tax credit. As I understand it, NAR is supporting extending the credit through April, 2010, keeping the credit at $8,000 and allowing everyone, not just first-time home buyers, to utilize the tax credit, with certain restrictions. From what I have noticed and read, the first-time home buyers tax credit has stimulated the market quite well. It only goes to follow that if they extend this credit it will help the housing industry and the market all over the country. I know that some critics of this measure have complained about fraud but isn't this evident in all aspects of business. Some people will try to "abuse" the system no matter what. I don't think we should punish or restrict the majority because of a minority of crooks. I hope this tax credit is extended. It will be interesting to see how this affects those who have been in their homes for several years and are just waiting for the market to improve before selling or buying.
For more information on the first time home buyers tax credit, check out my web page at http://lebronlittle.com
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