I told you so – tax credit is back on the table

Written by William Brokhof on September 24th, 2009

I hope the news is true as I have personally witnessed a handful of folks buying homes that never would have otherwise. If this bill passes and the credit is doubled, the effects will be much appreciated. This will go a long way to not only vanquishing the foreclosures that have diluted the market, but stimulate growth through increased values driven by demand.

Or I could be totally wrong and it’s, like, not healthy at all. I don’t know…I’m so confused. In any case it’s being talked about and you should know.

clipped from www.boston.com

US may extend real estate tax credit

$8,000 savings has drawn many to market

The White House is considering extending an $8,000 tax credit for first-time home buyers, which has helped to boost sales by more than 1 million this year.

Senator John Isakson, a Georgia Republican, said yesterday he is “talking to everybody and anybody’’ in an effort to drum up support for a bill that would extend the program through the end of 2010, almost double the credit to $15,000, and remove restrictions that prohibit individuals who already own homes or earn $75,000 ($150,000 for couples) from receiving the tax break. The bill, first introduced in June, failed in a 47-to-50 Senate vote last month.