Comments on: Homebuyers Tax Credit 2.0 – Congress Says Go!

By: Andrew A. Sailer

Andrew A. Sailer — Wed, 17 Feb 2010 17:23:29 +0000

Great comment about credit

By: Cincinnati Realtor

Cincinnati Realtor — Thu, 03 Dec 2009 03:51:53 +0000

The one thing that caught my eye was the move-up tax credit for the home buyers already in a home. I work with a number of repeat buyers and that small incentive has a lot of them thinking about making a move now. The challenge is that the credit is not good for investment property – which is really what we need to get out of the market right now – the foreclosures and short sales to get the property prices stabilized.

By: Staten Island Real Estate Agent

Staten Island Real Estate Agent — Mon, 16 Nov 2009 21:39:24 +0000

The first time home buyers credit its a great thing for our countries real estate market. We need a spark as a real estate market and this has helped alittle. I am glad they extended it.

By: Apartment Rentals Hayward

Apartment Rentals Hayward — Sun, 15 Nov 2009 08:16:22 +0000

I can’t decide if I like this idea or not. While it helps first time buyers, I think that it could possibly perpetuate the current problem that we have, this will be known only years down the line. I hope this works out for the best, though.

By: Kevin Koitz

Kevin Koitz — Sat, 14 Nov 2009 10:59:29 +0000

@ Harold – Thank you and sorry for the late response. I remember when Obama first announced his plan (February?), and my Dad, who worked on The Hill for 30 years as an economist said, “not enough” (in more words!).

@Richard – It’s picked up in DC at many price-points too. Hope it continue to pick up for you too…

@Robert – A week later, and already seeing the increase in activity, it’s easy for me to agree with Eric — which I did and do.

I’d would even argue the credit should be commensurate with conforming loan limits. So if $8,000 is base, those in with a $729,750 conforming limit could qualify for a $20K tax credit. It wouldn’t be for the people who would need it to qualify. It would be for the people who are exceedingly well qualified who need to feel a little more incentivized to take “the risk” in this market…IMHO, and perhaps just for certain markets, it’d psychology over necessity.

Thoughts?

By: John

John — Fri, 13 Nov 2009 22:06:46 +0000

I am super super psyched for this credit!! I am in the process of purchasing a home, and thought I was going to miss the cutoff, so this is good news for me!

By: Richard Stabile Bergen County Real Estate

Richard Stabile Bergen County Real Estate — Fri, 13 Nov 2009 03:47:19 +0000

Yes we needed it to continue and any other program that may help the real estate market. Things have pick up a bit in Bergen County New Jersey. I hope it continues and the incentives do help. Now they added the non forst time buyer $6500 also.

By: Harold Scott

Harold Scott — Mon, 09 Nov 2009 17:39:39 +0000

Amazing to see 98-0 support! But it is real estate that will help lead the way out of recession. Liberalizing the credit by making it available to not just first time homebuyers will be really helpful!! I enjoy your blog.

By: Eric Bramlett

Eric Bramlett — Sat, 07 Nov 2009 18:28:02 +0000

Robert, I appreciate your opinion, but highly disagree.

Calling this socialism is completely sensational. We’ve never had a truly free market, and unregulated free markets have become catastrophes time and again. Would you have preferred that the government allow the Great Depression to “work itself out?”

The tax credit passed the senate 98-0 – huge bipartisan support. The majority of economists agree that it’s a smart play. I don’t think an additional extension will be necessary, or will be backed in June. However, if it looks like the housing market still needs support until the job market can support it, I will back it at that time.

By: Robert Worthington

Robert Worthington — Sat, 07 Nov 2009 04:30:47 +0000

Either way this tax credit extension is a bad deal for Americans all together and a huge misfortune for generates to come. Socialism is not the answer.