How About a $15,000 Tax Credit for HomeBuyers?

home-buyers-need-help

The Senate voted unanimously tonight to include the Isakson Amendment, a tax credit of 10% of the sales price (up to $15,000), for home purchasers buying a primary residence  into the Stimulus Package. This would not need to be paid back and would be available for one year if it passes.

It still needs to make it into the final draft, due to be signed by the end of next week and hopefully this is one provision that will make the final cut.

Fence Sitting

The housing markets across the country could really use a boost and this could help. Many people are waiting to buy even though they are sitting in the middle of one of the best times to purchase they have ever seen and maybe this could help some of those who are on the fence make the decision to buy now, which will help the entire economy.

We can all use some good news right now and a lot of industries are looking for the government to help them, but fundamentally it makes sense to help kick start the housing sector. When more people begin buying homes the economy will benefit. There are so many jobs and companies that are affected by housing. Builders, contractors, road layers, Realtors, loan officers, title people, home inspectors, home warranty companies, attorneys, plumbers, electricians, carpet layers, home furnishing stores, and on and on and on…

Contact your local Senator or House Representative and tell them to keep this in the bill. This is the sort of stimulus we need to get the economy moving again…

**Update- Looks like the compromise is an $8000 tax credit for first time home buyers, who buy in 2009, that doesn’t need to be repaid.

—————————————————————————————————-

Tired of a template website that doesn’t bring you business? If you are looking for a custom real estate website with lead management (CRM) system and more, contact BlueRoof360 (http://blueroof360.com) at 888-850-4867 Ext#1 or sales@blueroof360.com.

Advertisements

4 thoughts on “How About a $15,000 Tax Credit for HomeBuyers?

  1. I’ve been engaged in taxes for lengthier then I care to acknowledge, both on the individual side (all my working lifetime!!) and from a legal stand since satisfying the bar and following up on tax law. I’ve supplied a lot of advice and rectified a lot of wrongs, and I must say that what you’ve put up makes perfect sense. Please carry on the good work – the more individuals know the better they’ll be equipped to comprehend with the tax man, and that’s what it’s all about.

  2. In retrospect, the $15,000 tax did nothing to boost sales in my area. (Gilbert Arizona) The few that did take advantage of it prrbally would have bought. So if any areas did see an increase it was more than likely artificial

  3. Corrected post: In retrospect, the $15,000 tax did nothing to boost sales in my area. (Gilbert Arizona) The few that did take advantage of it prrbally would have bought. So if any areas did see an increase it was more than likely artificial

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s