Extension Of The Home Buyer Tax Credit For Some
ByTodd Levinson
Real Estate RSS Feed
A bill that extends the $8000 home buyer tax credit into 2010 for people serving in the military, diplomatic positions and intelligence operations may pave the way for the bill’s extension to the general sector. The Home Buyer Tax Credit is seen by many in the White House as an important stimulus to the economy, helping to create and maintain jobs in the coming year.
The Home Buyer Tax Credit was created to encourage first-time home buyers to purchase their first home and is calculated as 10% of the home’s purchase price up to $8000. By taking advantage of this tax credit, new home owners now have a financial advantage that can make home ownership that much easier. It’s like having one’s closing costs and taxes for the year paid for with a bit left over.
According to a study made by the National Association of Realtors®, 350,000 people who bought a home during the time when the Home Buyer Tax Credit was applicable to their purchase would not have taken their first step to home ownership if it weren’t for the Credit. As of mid-October, the window for civilian residents of the U.S. has been effectively closed, as it is nearly impossible to initiate a home purchase and have closing completed in the timeframe of two weeks.
The extension of the Home Buyer Tax Credit to the military and other government employees makes many hope that it will be generally extended into 2010 so that people who were unable to take advantage of it this year will still have an opportunity. While there has been no official word from the White House on whether this is going to be the case, hopes are high that the positive attitude towards it will be enough for it to be signed into law.
Many believe that the tax credit is an important part of combating the recent foreclosures that have turned some areas of the nation into wastelands of empty houses. The more people who invest their money into real estate, the more people there are to take an interest in their neighborhood and create thriving communities.
With government personnel being granted a reprieve that may enable them to buy homes once returned from active duty overseas, the Home Buyer Tax Credit is still alive and well. Hopefully, once the success of its extension for people serving their country is realized, it will make sense for the government to enable its use by non-government citizens into the New Year.
Philadelphia Real Estate Guide: Find Washington Square homes and condos for sale. Easy-to-use search and neighborhood info from Todd Levinson, Philly Buyer's Agent.
Related Articles, Information, Products And Links
Related Articles on Real Estate
- We Buy House.
- Miami Bank Foreclosures Leading to Widespread Evictions
- Florida Fort Lauderdale New Home Communities - New Homes Ft Lauderdale Florida Real Estate
- Condo or Co-op?
- Mistakes First Home Buyers make when they buy a house
- Buying the House that you’re Renting
- Information About homes in Freehold Twp NJ
- If it is not BuyATimeshare, Buyer Beware
- Acid Staining Concrete
- How to Care for Concrete Countertops
- Buying a Home for Your Home Office
- Commercial property companies hit by fears of negative equity
- How it Came to be Known as Rocky Point
- Mexico Beachfront Real Estate Investment
- Got Plane? Take it to Rocky Point
- An Introduction to Riviera Maya
- Aquatic Wildlife in Puerto Penasco, Mexico
- Beach Estate for sale in Greece
- Greece Property
- Home loan time in India
- Calculating The Real Costs Of Home Ownership
- Benefits Of Apartments For Rent Dallas
- Real Estate Investments – The J. Hartman Company 10 Commandments
- Do You Want To Be The Borrower Or The Banker?
- Trends In Playa Del Carmen Real Estate
- Flat Fee Realtor - Listforsaleinmls
- Flat Fee Mls - List In Mls
- Advantages To Condo Living In Puerto Vallarta, Mexico
- Mortgage Ireland - Types Of Mortgage Loans
- Best Apartments In Dallas
Latest Articles on Real Estate
-
Best Apartments In Dallas
Dallas is the third largest city of Texas and is known as a metropolitan city. Dallas is very famous for its modern and exclusive apartments. And if you live outside Dallas then Dallas apartments for rent is the best option for the students who want to pursue their education in Dallas. Dallas offer apartment in its various areas such as Addison, Carrollton, Frisco, Irving and in many other parts.... -
Mortgage Ireland - Types Of Mortgage Loans
According to the Bank of Ireland, there are many different homeowner mortgage packages available. These include: a First Time Buyer’s Package, a Trade Up Mortgage, a Switcher Package, a Breakthrough Mortgage, an Equity Release, an Investment Property Package, and a Lifeloan.... -
Advantages To Condo Living In Puerto Vallarta, Mexico
Mexico real estate sector has evolved in last few years tremendously. The property sector has strived to cater to needs of discerning international investors who expect and demand word class facilities and innovations. One such trend has been condo living in Mexico. Condo concept is very popular all over the world and every year people are increasingly adopting this option.... -
Flat Fee Mls - List In Mls
Flat Fee MLS this means that you pay one small amount front and your property is List on MLS until it sells or until you end to verify it off the listings. If you sell your property on your own, you acquire the advantages of the List in MLS network by doing a Flat Fee MLS listing. Agents and buyers grill this database to find exactly the category of property that they are looking for.... -
Flat Fee Realtor - Listforsaleinmls
With Flat Fee Realtor you take advantage of the opportunity to get the most for your money, whereas with typical real estate listing agents, you must go by their rules and regulations and turning up with paying high sales commission on closing the sales.... -
Trends In Playa Del Carmen Real Estate
Playa del Carmen real estate has for many years been a favorite with International expats and tourists. A recent study showed that about 40% of the Riviera Maya real estate sold is being lapped up by foreigners. Of these, American and Canadian citizens constitute..... -
Do You Want To Be The Borrower Or The Banker?
The J. Hartman Company is a good resource for investing tips and financial information. According to Jason Hartman, founder of Platinum Properties Investor Network, the borrower has the most advantage during times of inflation. Here is an example of purchasing power and the decreasing value of the dollar over time:... -
Real Estate Investments – The J. Hartman Company 10 Commandments
Real Estate Investments should be part of everyone’s investment portfolio. Sure, like any investments, there is risk involved; however, the risk is greatly minimized by those who are properly prepared to make wise real estate investmentsJason’s Ten Commandments of Successful Investing™... -
Benefits Of Apartments For Rent Dallas
If there are any apartments in Dallas which offer comfortable and classy living, then they are Dallas apartments.Apartments for rent Dallas is the best option for people who can not afford to invest in real estate. Renting allows them to enjoy the amenities and culture without investing huge amount for staying in Dallas apartments.... -
Calculating The Real Costs Of Home Ownership
Homeowners insurance really depends on the value of your home and belongings, but you might be paying anywhere from $50 to hundreds of dollars a month to ensure that damage, vandalism, burglary, etc. can be repaired and items replaced. So that is something that you might need to calculate paying....
