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Extension of the Homebuyers Tax Credit! ~the Trickle Down
As many of you have heard, the new Worker, Homeownership and Business Assistance Act of 2009 has extended the original deadline for the home purchase tax credit from Dec 1st to April, as well as extending a tax credit to "move up buyers'.  This means that potential home buyers other than those that have not owned a home in the last 3 years will also get a tax credit for purchasing a new home from now into June 2010. 
Of all the bills that have passed to attempt to stimulate commerce and the economy, I like this one the best because of the trickle down effect of business to others within our industry and downline from the transaction.
With every home purchase, most home buyers employ a Realtor.  The Realtor will get a commission based on the purchase price of the home.  Commerce has then taken place.  The home buyer will then in most cases get pre-qualified for a mortgage loan at their bank for the financial transaction of the purchase. Commerce takes place.    The bank in turn will utilize an appraiser to find the value of their property.  Commerce takes place, and so on as the bank will also ... more

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