$8000 Tax Credit- Boom or Bust?

Andrew- I have had this come up with some of my newly married buyers who would have liked to take advantage of the tax credit.  One had owned in this time frame and the other had not.

John- I agree.  Many of my buyers were looking to purchase anyway, so they did get an added benefit, but very few (if any) of my buyers would not have purchased without this incentive.

Jim- I agree that it did not have the effect that congress had hoped for, although I'm not sure that increasing it to $15K to all buyers is the answer either.  Initially, I thought it sounded like a good idea, but later began to ask at what price to the American tax payer would the 'real' cost for this be.  Makes you wonder...

Mike- Part of me would like it to have been for all buyers, (myself included as we purchased this year as well), but again, at what cost to taxpayers in the big picture?  I sometimes wonder if the gov't is simply printing money these days without anything behind the paper they are handing out.

Dedra- I doubt that it will be extended either and yes, many people who contacted me were not able to take advantage of the incentive due to their credit worthiness.

Sam- While anonymity leaves all of us who openly participate on this forum a little .... well, let's just say, cautious in dealing with those who are less public with their identity on here, you make some valid points.  BUT, I HAVE looked at market statistics in my area, and fewer first time buyers than anticipated have taken advantage of this opportunity. Those of us who ARE "Real Estate Salespeople" DO watch the statistics and keep abreast of the market in our local areas as well as network to follow national trends in sales. 

To call Jim "self serving" may just be a guess on your part as the decline in real estate values can be blamed on much of our nation's citizen's financial woes, and it is said that the economy will only begin to recover when real estate makes a recovery.  It stands to reason that whatever help the government can give to jumpstart real estate sales and recovery, ALL citizens will benefit.  Will the $8000 or a $15,000 tax credit solve our problems?  It is in my opinion that it won't, but I hope to be wrong...

What I read in what Dedra wrote made no mention nor implied that she felt all buyers who contacted her were deserving of taking advantage of the tax credit regardless of their bad credit nor did she express a desire that they should qualify.  Dedra and I both have had numerous people calling to ask about the possibility of taking advantage of the $8000, many of whom are total strangers.