The question I get asked a lot is, "What's the latest news on extending the $8,000 Tax Credit for First Time Homebuyers". As of today, Congress has NOT extended the program past the current end date of December 1, 2009 however it is in consideration. Check out this link on a current news story: http://www.bloomberg.com/apps/news?pid=20601103&sid=aziH1b.eNBT4.
I have also enclosed this FAQ link that may answer other questions you or a friend may have regarding the $8,000 Tax Credit. Specifically, see question #19 on the following FAQ link. This addresses the question of obtaining the credit prior to filing 2009 tax returns.
http://www.federalhousingtaxcredit.com/2009/faq.php
I hope this is of value to you . As always, please feel free to contact me with any questions.
Showing posts with label first time homebuyers. Show all posts
Showing posts with label first time homebuyers. Show all posts
Friday, October 9, 2009
Thursday, April 24, 2008
Bargain hunters boost home sales in some markets
With prices falling in many parts of the country and the number of foreclosures rising, a small yet growing number of bargain-hunting buyers are seeing an upside to the real estate market.
MAKING SENSE OF THE STORY FOR CONSUMERS
First-time home buyers priced out of the market during the frenzied 2001-2005 market are among those most attracted to real estate today. In November 2007, 39 percent of buyers were first-timers, up from 36 percent in 2006, according to the National Association of Realtors. The key impediment to buying? Meeting tighter bank qualifying criteria.
International buyers increasingly are looking at opportunities in the U.S. real estate market. Declines in the value of the dollar against other currencies and lower prices translate into a discount of up to 30 percent for some foreign buyers.
Investors from other states also are seeking bargains in those markets hardest hit by the real estate downturn. Some are even buying properties sight-unseen for conversion to rentals until the market heats up again – a risky proposition, according to some observers.
MAKING SENSE OF THE STORY FOR CONSUMERS
First-time home buyers priced out of the market during the frenzied 2001-2005 market are among those most attracted to real estate today. In November 2007, 39 percent of buyers were first-timers, up from 36 percent in 2006, according to the National Association of Realtors. The key impediment to buying? Meeting tighter bank qualifying criteria.
International buyers increasingly are looking at opportunities in the U.S. real estate market. Declines in the value of the dollar against other currencies and lower prices translate into a discount of up to 30 percent for some foreign buyers.
Investors from other states also are seeking bargains in those markets hardest hit by the real estate downturn. Some are even buying properties sight-unseen for conversion to rentals until the market heats up again – a risky proposition, according to some observers.
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