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Dennis Norman UPDATE 11/06/09 5:14 p.m. – Thanks to Denis T who was commenting on this post, click here to go to the IRS site with information on the new tax credits. UPDATE 11/06/09 1:00 p.m. – I just heard that a short while ago President Obama signed the bill into law. IT’S OFFICIAL! So if you [...] Dennis Norman I have been talking a lot lately about the first-time home buyer tax credit of $8,000 that has stimulated some home buying but is set to expire on November 30th. I have also shared the efforts by organizations such as the National Association of REALTORS, The Mortgage Bankers Associaiton, The National Association of Home Builders [...] Dennis Norman Results have just been released of a study conducted by Rosen Consulting Group as to the effectiveness of the 2009 first-time-homebuyer tax credit and the potential need for an extension of the credits. The Rosen Consulting Group was retained by Fix Housing First, a coalition that was originally working to convince Congress for [...] Nearly one in five (18 percent) prospective first-time homebuyers said extending the $8,000 tax credit would be the primary influence on their decision to buy a home before the end of 2010, according to a Zillow survey. That would equate to 334,000 buyers from Dec. 1, 2009 to Nov. 30, 2010 – a likely [...] By: Dennis Norman It appears that later today the US House of Representatives and the US Senate will both give approval to an Economic Stimulus Package that, in my opinion, has the housing market coming up short. It is also expected that President Obama will sign the bill into law no later than Monday. The [...] By: Dennis Norman According to the National Association of REALTORS(R) if a tax credit is made available to all home buyers and that credit need not be repaid then this could result in an additional 555,000 home sales. This echos my post of two days ago titled “Fix Housing First” with regard to the importance [...] By: Dennis Norman Fix Housing First is a coalition that has been pushing Congress for a housing stimulus package that they feel would have a more significant, and longer-term, positive affect on the real estate market and economy than the current stimulus plan being considered by Congress. The coalition has identified falling home values as [...] |
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