Good Post about the $8,000 Tax Credit
So - now that we have an $8,000 CASH incentive for buyers to buy a home, they should be beating down our doors - right?
They're not - and here's why and what we can do about it...
It's the same as the chicken and the egg riddle - which came first?
Homebuyers with good credit are probably hoarding their cash and wondering how they can possibly spend the money they have saved up. I GUARANTEE you that if we GAVE THEM $8,000 NOW, they'd line up to buy a house. And the thing is, they are going to get that money anyway IF they buy a house this year - BUT - they will have to wait until February 2010 to actually get the money.
That's a problem.
If we want to boost homebuying, those people need that money NOW - TODAY - IF and only IF they buy a home today.
What to do about it? Write, Write, Write. Write your senators, write your congressmen, write your state officials, write your local newspaper. The Federal Governemnt has ALREADY given them the money - Why can't they apply for and get it EARLY???
If there were a way to get it EARLY, then, at the end of the year, there would be no difference in the way they figure their taxes because they will have already received the TAX Credit.
Closing Attorney's offices could send in a copy of the HUD 1 settlement statement, along with a form that says "this SS# has already received the tax credit" - some kind of reporting form. The IRS could then wire the $8,000 to the Attorney's office for benefit of the homebuyer. Not a big deal. The only holdup would be setting up a small department at the IRS to send the money out.
Again - if you think this would make a difference in your business, WRITE, WRITE, Write!!! Send emails, raise some cane, do whatever it takes to let our legislators that these buyers need the money TODAY - not the end of the year.
COPY and PASTE this post to every FORUM or Blog you can find - let's get the word out and use the money NOW!