What
really does the new tax credit do? Does it give $6500 only to
"move up" buyers. I hope not because in my neighborhood and
so many others in Lexington many of the retired residents are more
eager to "move down" than move up. If congress really only
gives money to "move up" buyers as suggested in this CNBC
article then the congress in my opinion made a blunder in the wording
of the bill.
Our retired home owners deserve the same economic stimulus as other
sellers and buyers. There are so many people in my
neighborhood who are in a difficult spot. To continue maintaining a
home on their limited income is difficult. If they could sell
and move down to a condo they could invest the equity difference and
live in a condo that has little to no maintenance. Moving up is not a
choice for many of my retired neighbors.
Hopefully we will receive clarification quickly and if the wording does
imply the buyers have to move up there will be rational people who
change the bill.
Sine & Monaghan Realtors, Real Living - Grosse Pointe Farms, MI
Providing the very best of service to Sellers and
Is that really how the new legislation reads? If so, I agree with you that it's a problem for the "downsizers". We need clarification.
Nov 06, 2009 05:32 AM
Walden Mortgage Group - Lexington, KY
CMB
Paul in everything I have seen including the interpretations from the NAHB, the MBA, and various other sources nowhere does it say you must be a move-up buyer.
I feel certain from all I've read that a buyer can purchase any owner occupied property as long as it does not exceed $800,000, even if it is a move down.
Nov 07, 2009 03:43 AM
Rainmaker
181,295
181,295
Paul Campbell Realtor Lexington
Kentucky Homes for Sale
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Helping seller and buyers understand the value of the land they buy or sell is my passion. My work as a real estate agent is fulfilling because I am passionate about negotiating value. Sellers, let me help you maximize the value of your land even if it is just a small front yard. Buyers I will help you find a place even in the middle of Lexington that can help your family build a wonderful home. Give me a chance to look at your home, your land, your garden and I will give you some great ideas on how you can enhance the presentation of your home with a very small budget.
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