We would advise, before you run outside screaming, “I need to buy a house! I need to buy a house! This $8000 won’t last!” Read the fine print, particularly question 9. From the California Association of Realtors Website (verbatim): A. FIRST-TIME HOMEBUYER TAX CREDIT Q 1. What, in a nutshell, is the $8,000 tax credit for first-time … Continue reading $8000 First Time Homebuyer Tax Credit: the fine print
From the Zillow Blog: Details have not yet been ironed out, but the proposed $15,000 tax credit amendment in the economic stimulus package that was sponsored by Sen. Johnny Isakson has been trimmed down to an $8000 tax credit, according to the NY Times. This is all very preliminary until the bill is actually signed, but here is … Continue reading $15,000 Homebuyer Tax Credit Trimmed To $8,000
The news of the day is the Senate approved $15,000 tax break for new homebuyers: -WASHINGTON — The Senate on Wednesday voted to expand the economic stimulus package with a tax credit for homebuyers of up to $15,000, a provision championed by Republicans as addressing a root cause of the recession. -Senator Johnny Isakson, Republican … Continue reading $15,000 Tax Break For Homebuyers, Good Or Bad Idea?