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Tax Credit? No Tax Credit? I don't really care! I just want CLARITY!

I'm not reporting a "Done Deal," a la some to whom Lenn refers. I'm only striving to comprehend...

So... What will be the impermanent panacea of the moment in May, 2010? I mean, we are looking at a proposed, Senate-Approved, credit that ends in April. What's next?

These meddlers are fixin' to aggravate any normally functioning person. Thanks, WRAL-TV.

And, I think the politicos have tortured the nerves of a lot of people who are not real estate professionals. The tax credit cacaphony rattles around forever, it seems.

I think the last two credits have been bad policy, for what that is worth.

Regardless, the workings of our government vividly portray one of the weakest links in the USA: Short-term thinking without stability or predictability. Government by Twitter.

See you in May, 2010!

___________________________________________________________________________________________

Mike Jaquish, REALTOR®

919-880-2769 www.MikeJaquish.com

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Broker Associate, KELLER WILLIAMS® Realty, Cary, NC

Posted by Mike Jaquish Cary, NC, Real Estate on 10/29/2009 09:21 AM

Comments (9)

Tax Credit for Homebuyers in the ActiveRain Channel

tax credit

Originally posted at: Cary, NC, Real Estate Focus: Tax Credit? No Tax Credit? I don't really care! I just want CLARITY!

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9 Comments on Tax Credit? No Tax Credit? I don't really care! I just want CLARITY!

OCT

I love when I come a cross a great post. Thanks for taking the time to share!

Jeremy,

Maybe I was sharing. Maybe I was venting. Maybe I was ranting.

Maybe I just want CLARITY!

Mike: I very much disagree with your opinion. I don't think that extending this program earlier would have benefited the market. I think all it would have done is encourage more buyers to continue sitting on the fence. This is great news for all the first time buyers in my Fort Worth market area. (Nice big words, by the way... LOL)

By the way. That "weak-link government" that you mentioned was thrown-out last November. Whew !

Karen Anne,

Is anyone telling those first-timers in TX about the bill they will be footing for this little spiff?

I'm not doing the politics American Idol routine. It doesn't matter to me which color hanky the gang members wear.

Mike: A "spiff" program... I like the word "incentive" better... should be one where the cost of it is justified, and results in a greater good, and also in the stimulating of more jobs and business, and, of course, real estate activity down the road. This program, in my opinion, does that.

Thank you for the post Mike. While I'm sure first-time buyers are enthused about this new deal, it's good to hear your skeptical opinion!

Karen Anne,

It is proposed to run through April, if passed in its debatable current form. Under contract by April 30, 2010. So the panic of 10/2009 will become eclipsed by the panic of 4/2010, as agents and lenders drool over the remaining first timers who haven't been able to be taken advantage of in the last two spiffs.

"It's a Great Time To Buy!" they will crow, before even knowing if their prey has a 480 credit score and two Ben Franklins to rub together. "We can get you Zero Equity Funding via USDA, or Community Programs, or even your credit union with a variable rate loan! And closing costs paid with a good appraisal!"

Now, I think these 100% programs have applicable merit. I think they should be offered as the lenders see fit, within their underwriting guidelines. I just think the lure of $8,000 easy money is leading too many people to thrash around within their limited finances to pick up the golden spiff, as they slop though the sludge of the deal.

The cost of this benefit to the greater good is yet to be assessed. But... It is only debt. Not real money from the Treasury.

Ilyce,

Just a little skeptical... LOL Thanks!

Government by twitter is a sad but true statement. We have many ills in our society and extremes are not a good place to function, in my opinion. I'm happy for my clients that will be able to get the credit.

I just cringe at the 27 kids in my daughter's first grade class and wonder at what future ills we have created for our society so that someone can buy a new fridge with their tax credit. A new fridge in exchange for a child that can read?

We are so not on the right track as a nation.

Melina,

Get on down to the school and give the kids a good pep talk.

They are going to carry a great burden, and by golly, I'm going to want my Social Security entitlements, too!

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