Turning down the opportunity to get a First Time Home Buyer's Tax Credit from Uncle Sam is hard to pass up. Obviously. But what is the thought of prospective home buyer's buying a home only because of the $8000? Is that doing the right thing FOR THE RIGHT REASON?
As a Realtor, I may be slightly biased, but I can think of so many reasons to buy in this market regardless of what tax credits are currently available. I wouldn't think that the First Time Home Buyer Tax Credit would lure that many home buyer's back into the market, but I'm starting to see so many new buyer prospects into the market I'm beginning to question the motives.
New buyer's should make themselves aware of all the benefits and still make sure that buying is right for them at this time. Taking advantage of previously available tax advantages and investment opportunity has to be considered as well as finding out how long the new home buyer plans to live in and / or own the home is crucial. The home market seemed to be inappropriately influenced by incentives (low interest rate loans) at the height of the market in 2004-2006, so this external influence alone is questionable.
http://4salestlouis.com/federal%20home%20buyer%20tax%20credit.html Find more information about the tax credit above.
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