Admin

TAX CREDIT FOR INVESTORS?

By
Real Estate Agent with Dickson Realty, Reno,NV

Why has Congress not extended a tax credit for second home buyers or investment property?

President Obama just signed the bill to extend the credit for first-time buyers and for buyers who buy a new primary residence with some restrictions.

 Because of the state of the economy and the real estate market there are many vacant homes at incredibly low prices. If investors get back in the market and buy up some of this inventory it would have a dramatic effect. Why not give them some incentive? The market would start to come back, basic supply and demand, (guns and butter). Also people losing their homes would have more to rent.

 Let's quit giving stimulus money to the banks that just buy other banks and get the economy back on its feet. Until the real estate market makes a dramatic shift up we are all in for a long haul.

Comments(3)

Show All Comments Sort:
Stephen Garner
Hub Media Company - Tempe, AZ
Hub Media Company

Absolutely, I agree.  The market would not be on its way to revovery without the investor activity we have seen here in Phoenix. They should be rewarded!!

Nov 25, 2009 04:59 AM
Dennis Herman
Crossroads Real Estate LLC - Howards Grove, WI
Dennis Herman

I would agree.  A good way to get your point across is to Blog and send the Blog to your elected officials.  A year ago I began doing this on Active Rain to get the feds to offer an incentive to any home buyer.  The Active Rain Community caught on and posted a number of Blogs.  I am sure a number of officials have heard from the Active Rain Members.  This is a Grass Roots Effort.

Now we have to keep up the pressure until we see a real change.

No limits on income to receive a credit.  If a buyer in the six or seven figure income receives an $8000 credit, they may spend $20,000 on improvements.

No limits on purchase price.  A million dollar home will pay $8000 in property taxes in a few months.

Investors should have limited access to the credit and also have access to the local stimulas finds targeting neighborhood restoration.  How many times have we heard we have to give money to investors because they know how to handle it.  It's about time the government sees the fact, America is built on the backs of the working class.  We can rebuild this economy one house at a time.  Local investors will stimulate the local economy. 

Nov 25, 2009 05:10 AM
Douglas Fischer
East Oahu Realty - Selling Honolulu, Hawaii Condos - Honolulu, HI

They were talking about it during the Presidential Elections as well as during the economic/Wall Street meltdown.  Now there's silence.

Nov 25, 2009 09:07 AM