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How Realtors Stole the $8,000 1st Time Columbus Homebuyer Tax Credit
August 28th, 2009 categories: For Home Buyers, For Home Sellers, Market Updates, Mortgage/Finance, Real Estate News
I really do feel bad for 2nd, 3rd and 4th time homebuyers.
Not the money itself, just the concept. I’m amazed by how many Listing Signs, Agent MLS remarks and Brokerage Office Signs are screaming out $8,000 Tax Credit!! If I didn’t know better, I would think it was the National Association of Realtors, not the United States Congress, that came up with this idea and told all of its member lackeys to shout it from the rooftops.
Prior to the tax credit, Realtors appropriated, and then seemed to take credit for, interest rates . “Why wait, rates area great” signs were everywhere.
It’s all too true though, isn’t it? Rates are great and the Tax Credit is an incredible deal that expires soon. Look over there < on the left and you’ll see I added a countdown timer. Now you Know exactly how much time you have until the tax credit expires (You must have closed on your house By end of day on November 30, 2009)
Congress, however, is considering an extension and even as you read this bills to extend the maximum $8,000 tax credit for first-time home buyers are pending in both the U.S. House and the Senate. Sen. Christopher Dodd, chairman of the Senate Banking, Housing, and Urban Affairs Committee, is co-sponsor of a bill with Georgia Sen. Johnny Isakson that would raise the credit amount to a maximum of $15,000.
I DO think it will be extended, maybe through next year from what I’m hearing but I don’t think it will be increased.
