Is the stimulus package working?

Real Estate Agent with Touchstone Realty

Is the stimulus package working? Whether you're on the left or the right, this is the question that is in front of us.  My answer would be yes, I feel we've had more phone calls, more e-mails in the last few months then we would have through the past winter months. I feel like the $8000 tax credit for first-time homebuyers has definitely made a difference.  The spring market is here, you already have people coming out of the woodwork looking for great price home deals. They are looking for foreclosures trying to get a great deal, or a short sale, which you can get a great deal on if you're in it for the long haul.  But more importantly I think the $6500 "move up buyer tax credit" has made a difference. I also have people that bought during the before the bubble that now have an option of selling and making some money on their house and getting a great deal in another house.  So the question I get from other agents is the home stimulus work tax credit working out.  I believe it has I feel it has made a difference.  I do feel that it won't be extended.  What do you think?

Comments (3)

Gary L. Waters Broker Associate, Bucci Realty
Bucci Realty, Inc. - Melbourne, FL
Eighteen Years Experience in Brevard County

It is working if you are closing the deals as a direct result of the program. My results = no.

Jan 27, 2010 12:13 AM
Erik Hiss
Keller Williams Capital Partners Realty - Worthington, OH
You can trust me for all your real estate needs!

My feeling is that the $8000 tax credit is working more so than the $6500 credit. I have had many closings where the buyers were first timers and told me they probably would have foregone buying if it wasn't for the credit. I can't say the same for the $6500 credit. But it boils down to what business you've done since the credit caame along.

Jan 27, 2010 12:17 AM
Rick Hendershot
BlogEasy for Real Estate Agents - International, IT

The levers that make the economy "work", as well as the factors that motivate people one way or another are obviously very complex. Clearly things are getting better. This might have happened anyway, but we have no way of knowing.

Jan 27, 2010 12:21 AM