Senate Approves $15,000 Tax Credit to ANYONE buying a house in 2009

By
Real Estate Agent with Real Living Realty Services, Inc

As everyone has probably heard, Congress is working on ways to stimulate the housing market.  We're hearing great news already!  Just yesterday, the Senate passed a $15,000 tax credit (10% of purchase price or $15,000, whichever is less) for ANYONE buying a house in the next year.  If it goes all the way through, anyone can qualify (not just first time home buyers as in the 2008 package), the credit would NOT have to repaid (unlike the 2008 package which must be repaid in 15 yrs), and it can be claimed on your 2008 tax return.  This is something you want to watch.  The stimulus package has not been fully approved so things can change.  I'll be keeping an eye on it!
 
Check out the link to the press release congress issued last night.
 
http://isakson.senate.gov/press/2009/020409housing.htm 

If you're in the market to buy a home, now's the time.  Feel free to contact me to help you find that perfect home and to help you through the entire process.  Also feel free to search for a home on my web site and request a showing.  I can also help sell your current home, so give me a call today.

Kimberly Daeger, Realtor Service Excellence for Buyers and Sellers Real Living Realty Services, Inc. Cell:  937.545.6294 kimberly.daeger@realliving.com www.realliving.com/kimberly.daeger

Comments (3)

Anonymous
Don

This will be GREAT if it goes all the way through.  If you have all ready filed your 2008 taxes I wonder if you will be able to file a amended return?

Feb 08, 2009 12:03 PM
#1
Anonymous
Don

This will be GREAT if it goes all the way through.  If you have all ready filed your 2008 taxes I wonder if you will be able to file a amended return?

Feb 08, 2009 12:03 PM
#2
Kimberly Daeger
Real Living Realty Services, Inc - Dayton, OH
Raeltor

I agree this will be great; I will be buying a house myself this year, and I'd be thrilled.  From my experience with working with buyers, the 2008 bill wasn't much of a motivator because you had to pay it back.  Folks weren't interested in going into debt further.  Regarding your question about filing an amended tax return, I'm not a tax consultant, but I don't see who not, especially since this would be in law (the tax credit).  I was reading more on the stimulus package today, and although there are some disagreements between the different parties on different aspects of the bill, this $15,000 credit doesn't seem to be getting any resistance so far...so let's all keep our fingers crossed.  Thanks for the comment.

Kimberly Daeger, Realtor Service Excellence for Buyers and Sellers Real Living Realty Services, Inc. Cell:  937.545.6294 kimberly.daeger@realliving.com www.realliving.com/kimberly.daeger

 

Feb 08, 2009 01:24 PM