Comments on: $8000 First-Time Home Buyer Tax Credit Extended!

By: Home Business Ideas

Home Business Ideas — Tue, 15 Jun 2010 06:38:36 +0000

$8,000 that is really a huge amount. I guess if this is still implemented there would be only few people who can enter and start their own business.

By: vickiakitchen

vickiakitchen — Sun, 11 Apr 2010 17:51:30 +0000

the goverment wants people to believe that the county is on recovery,but they don't tell you that it depends on what part of the county you live! their are so many people that want to buy on a first time home buyers for the tax credit,but, some of those people are just finding jobs,and need to get their fiances in order before they can buy a home,so the goverment needs to extend the tax credit to help rebuild the country and make us stronger!!!!

By: Ron Chromey

Ron Chromey — Fri, 30 Oct 2009 21:46:46 +0000

I hope this gets final approval soon. I have advised my buyers not to rush into decisions because the deadline is approaching. I have advised that they should buy because they found a house that they must have without any pressure of a deadline.

The tax credit has worked beyond initial expectaions. I know of a few real estate attorneys who are now planning to cancel any Thanksgiving plans and they will be working straight through because their deals all state “must close befor Nov 30th.” This new tax credit will jump start the whole segment of the economy that is affected by home purchases: Realtors, Home Inspection Services, Mortgage Brokers and Lenders, Attorneys, Title Companies, Appraisers, Moving Services, and Home Improvement Services, Manufactureres of Housewares, and Home Improvement Contractors. It's the rebound “Trickle Up” effect. Whether we approve or not, our economy is based upon housing and automotive. This credit will not only create a hot first time buyer market, but a move -up market. A continuation of this program can only point the economy toward improvement and continuation of the Amercian Dream. Let's hope that Congress takes this serious enough to act upon before they take another recess.

By: Ron Chromey

Ron Chromey — Fri, 30 Oct 2009 17:46:46 +0000

By: Ron Chromey

Ron Chromey — Fri, 30 Oct 2009 15:46:46 +0000

By: Cathy Matthews

Cathy Matthews — Thu, 29 Oct 2009 18:15:36 +0000

Yes I am very excited. Hopefully it all goes thru, many people stand to be helped thru this.

By: kenm1110

kenm1110 — Thu, 29 Oct 2009 17:34:26 +0000

I think that it will havean overall positive effect although it might not show unfortunately until spring. seasonal weather conditions and the holiday season have their effects on the market and with the knowledge that the program runs until spring I am not sure if it will light the fire under buyers in the more weather effected markets. I would have loved forit to be extended to year end first and then again in February.

By: Paul Silver

Paul Silver — Thu, 29 Oct 2009 13:13:54 +0000

Sounds like a good thing to me… in our experience, the existing credit was use by some 60% of our buyers… that is a huge percentage of first time buyers. We have not seen so many move up sales lately, so this might help people to move up… increasing sales even more than the previous credit… we shall see.

By: Chris Record

Chris Record — Thu, 29 Oct 2009 03:08:22 +0000

Just to clarify, the original title of this post was probably a little misleading, as only Senators have come to the compromise on this extension so far. There are several news sources that are touting it as a done deal, but the reality is that it still has to go through the House and the President.

Here are a couple of prominent sources for some additional information:

http://www.usatoday.com/money/economy/housing/2...

http://www.boston.com/business/articles/2009/10...

http://www.sfgate.com/cgi-bin/blogs/pender/deta...

http://online.wsj.com/article/SB125678511901015...

http://www.washingtonpost.com/wp-dyn/content/ar...

http://www.cnn.com/2009/POLITICS/10/28/senate.h...

By: Chris Record

Chris Record — Thu, 29 Oct 2009 02:50:53 +0000

Great points Christina! Thanks for stopping by and adding so much value to this post. I agree that banks are definitely overwhelmed with the influx of foreclosures that have hit their books, which is why I would love to see some sophisticated real estate investors step up and negotiate with the banks to get some great deals and take these properties off the books. 2010 will be a year of great transfer of wealth…