This may help Buyers get back out Looking

By
Real Estate Agent with First Weber Hedeman Group

Here is a repost that was sent to me from one of my local bankers. Take a look

 

 

This could help get the buyers back out looking and buying.

Last night, the Senate added a significant homebuyer tax credit to the housing stimulus plan.  Here are the key elements of the credit:

 *  The tax credit is for the amount of $15,000 or 10% of the purchase price (whichever is less), with the option to utilize all in one year or spread out over two years.  The credit does not have to be paid back.

 *  The tax credit is available to all purchases of any home from date of enactment for one full year - no longer just a first time homebuyer credit.

 *  Able to claim the credit against the 2008 tax return

 *  Buyers must occupy the home for two years as their principle residence

 *  Includes a two year recapture provision (if they leave the home in two years they lost the credit)

 *  Purchases of homes by investors are ineligible

 *  Sunsets the previous $7,500 Housing Tax credit on the date of enactment

 *  The credit is not refundable.  (The $7500 credit was refundable, but had to be paid back).

 The bill is still working its way through Congress - The House of Representatives must still negotiate with the Senate, and the House bill does not contain the credit.  So there may be additional changes.  But this is an important step forward.

Call us for pre qualifications of your buyers before they write the offer!

           

 

Bill Bethke

Real Estate Loan Dept.

Office 608-328-4015, Fax 608-328-4083

wbethke@thewcb.com

www.thewcb.com

 

WCB 2007 GTH copy-99 6kb

Posted by

 

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Location:
Wisconsin Green County Monroe
Groups:
Realtors®
The Art Of Marketing You
The Lounge at Active Rain
Posts to Localism
Tags:
realtor
realestate
green county wisconsin
monroe wisconsin
scott larson
greencountyhomeguidecom
bill bethke
wisconsin community bank

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
56,733
Erelopro Out of Business
erelopro - Encinitas, CA
Relocation Professionals are out of business

That is enticing, espcially to someone who is looking to venture out into the real estate market this year in Southern California.

Feb 06, 2009 04:48 AM #1
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
192,940

Scott Larson

SRES
Ask me a question
*
*
*
*
Spam prevention

Additional Information