Extending the HOMEBUYER TAX CREDIT and EXISTING HOMEOWNERS

By
Real Estate Agent with Principal Property Brokers

Tonight on the local news, I heard a tidbit about the extension passing.  So I looked on the internet and could hardly find a thing....awful quiet about such BIG NEWS.

I found an article at Business Week, so I'll include the link below.  Its NOT as great as the plan I heard 4 days ago, but still includes Extending 8,000 to first time home buyers to april 30 and includes existing homeowners to 6,500, with 125k income limits for singles and 225k for two income households.

Here's the LINK.  I hope there is some pent up energy in the normal moving and adjusting people do for various reasons, and that this incentive will stimulate and encourage homeowners to make these changes in the near term horizon.

IF we have the recovery underway that I have been hearing in the news, then low interest rates and low prices will soon be in the Rear View Mirror.

Ask yourself?  When we begin to recover, and prices move up again (historically they will).  Do you want the appreciation in the house that no longer suits your lifestyle/needs....or do you want the appreciation in the home that you will be in, for the next 10-15 years.

Just reflections....

The link to my BLOG and the Articles related to the extension are here: 

http://www.felidahomes.com/blogs/gloria_gomez_matthews/default.aspx

http://www.FelidaHomes.com

Gloria Matthews
360-600-3042

Comments (4)

Ron Brown NMLS #270845
NMLS ID: 40831 - Federal Way, WA

I went to the official sites of the US Senate, and House.  There are currently over 30 different bills sitting in Committee (House Ways & Means, and Senate Finance), none of which have any support to come up for a full floor vote.  The most popular version had a hearing on the 22nd of October, but they are accepting written comments up until November 5th which does not bode well for an extension before the deadline.

Oct 28, 2009 04:40 PM
Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

This is not yet law.  It goes to the house where it will probaly become a Christmas Tree.

 

Oct 28, 2009 11:20 PM
Gloria Matthews
Principal Property Brokers - Vancouver, WA
MAKING CLARK COUNTY HOME

Thank you for your contributions.  I've been following and writing on my personal blog, different scenarios, a letter from our local senator Patty Murray, the version she supports, and previous article from senator Dodd.  I like that.."a Christmas Tree".  ho ho ho..

NO..its not LAW, but watching the process ....see you November 5th!

Oct 29, 2009 02:03 AM
Gloria Matthews
Principal Property Brokers - Vancouver, WA
MAKING CLARK COUNTY HOME

Thank you for your contributions.  I've been following and writing on my personal blog, different scenarios, a letter from our local senator Patty Murray, the version she supports, and previous article from senator Dodd.  I like that.."a Christmas Tree".  ho ho ho..

NO..its not LAW, but watching the process ....see you November 5th!

Oct 29, 2009 02:03 AM