Home Buyer Tax Credit

By
Real Estate Broker/Owner with The Broker Network
Here is a quick glance at the differences between the old first time home buyer tax credit and the new home buyer tax credit since the latest stimulus package was signed.

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DeschutesCountyHomes.com

Comments (6)

Anonymous
St. Pete Forelcosures

Brad thanks for sharing, one of the biggest problems I have with this program is it really does not help anyone in trouble now, if unemployment is rising and one in six people are in foreclosure or late on there payments how is this going to help stimulate the economy. Most people I have found don't even look for the best place to buy there homes like our site www.stpeteforeclsoures.net

I really hope this helps and not trying to be negative but I don't see allot of benefits here.

Feb 17, 2009 12:08 PM
#1
Ken Kelly
Benchmark Mortgage - Chesterfield, VA

Thanks for your post, very nice easy to read format.

Feb 18, 2009 04:04 AM
John Ropp
The Broker Network - Bend, OR
Principal Broker ABR, CRS, GRI, SFR

I agree with you on the foreclosure part of the market.  This tax credit is not helping the people who are in trouble now with their current mortgage.  However, I believe this tax credit will benefit many people who decide to buy a home in 2009.  $8000 is a lot of money however you decide to count it!  I think we will see this benefit in the future, not now.

Feb 18, 2009 04:11 AM
Brande Bradford
Keller Williams - McDonough, GA
Realtor

John

Thank you for your posting, great information.  Have a great day

Feb 19, 2009 03:39 AM
Anonymous
tulsahomespro.com

John,

Thanks for providing this information in this easy to understand format.  For the lower end market in Tulsa, this is huge.  Lots of buyers, sellers will be able to sell their homes and prices in the lower range, in Tulsa a starter home (my opinion) is 100K-140K.  Sellers may become less willing to concede buyer closing costs and lastly, it will hurt the rental market as any renter that can possibly qualify for a home will try to buy.  We shall see how this plays out.

 

Feb 19, 2009 09:52 AM
#5
Joe Rogers, CRP, GMS Chapel Hill Real Estate
The Rogers Team @ RE/MAX Winning Edge - Chapel Hill, NC

Has anyone heard of new options for financing the $8,000 prior to receiving a tax refund?  Except for people who do not need this to buy a house, the others likely will not have the down payment. 

Feb 20, 2009 01:09 AM