Comments on: Home buyer tax credit update

By: Cindy

Cindy — Mon, 01 Mar 2010 20:06:06 +0000

Question ~

In the past 8 years I have bought 2 homes. Residing in the homes approx. 4 years a piece. In November, 2009 I sold my home and purchased another.
Because I fall 1 year short of residing 5 years in the same residence, I don’t qualify for the repeat home buyer stimulas package???
This is totally unfare and just plain wrong.

By: Dennis Norman

Dennis Norman — Fri, 06 Nov 2009 16:05:47 +0000

Hey Garreth, thanks for the comment..
I tend to agree with you…tax credits and other incentives create an “artificial market” and that is why many people are opposed to them…personally I have been an advocate for them as the housing market has been in such a bad slump it needs something if only a shot in the arm that lasts a while…the hope is that while the market is being artifically stimulated by credits, the underlying fundamentals (unemployment rate, economy in general, credit availability, etc) gets better so that there are real things in place to sustain the market that was created artificially….Time will tell..
Unfortunately we are off to a bad start since unemployment just hit 10.2% this morning..

By: Garreth Wilcock

Garreth Wilcock — Fri, 06 Nov 2009 15:44:13 +0000

In Austin, the market wasn’t suffering too much. The original tax credit put the market into overdrive with a strong sellers’ market in some parts. When the new credit expires, what will happen? Markets tend to swing between extremes.

By: Independentvoter

Independentvoter — Sun, 01 Nov 2009 13:41:57 +0000

Have purchase agreement signed between all parties and myself.
Mortgage company says they can’t close an FHA loan prior to
Nov. 31st deadline. If this extension doesn’t get passed by
Nov. 15th I plan to pull the plug on this sale and wait for
more collapse of housing prices to offer new contract.

By: Brian

Brian — Thu, 29 Oct 2009 18:55:54 +0000

Pat and Mike, I guess you are not taking advantage of this so you may be a little sour but if you don’t have some sort of incentive to buy up all these homes that are on the market from foreclosure then it would just create more problems. In the end I guess there really is no one solid right answer but still, something helps.

By: David

David — Thu, 29 Oct 2009 18:38:30 +0000

Why can they not understand, the owners of existing homes need help as well. Where is the help over here and not just to the first timers.

By: Mike

Mike — Thu, 29 Oct 2009 17:59:30 +0000

Stop wasting tax payers money and let housing come down to its natural price. Do not pass the 8k housing credit. Just throwing good money after bad.

By: Pat T

Pat T — Thu, 29 Oct 2009 17:38:22 +0000

This credit a credit for sellers and real estate agents. It does nothing for the buyers. Make the housing affordable by not extending the credit!

By: Brynn

Brynn — Thu, 29 Oct 2009 17:35:37 +0000

My husband saw one of those false reports on the news last night. We’ve got a house in mind to buy, have agreed to all the terms with the seller, however if the extension isn’t made, we’re out. Hope that “Fat-Lady Sings” sometime soon.. I just want to know if I will get getting a new house for Christmas or not! Thanks for the updates!