March 18th, 2010 by Michael Oliver

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The first time home buyer $8,000 ends in 6 weeks as buyers must be under contract by April 30th, 2010. So what has been the impact of this tax credit? My personal believe as an agent is a majority of the first time buyers that were bought during the tax credit would have bought anyway YET it did spike the housing market last year in terms of getting those buyers the confidence to actually make a purchase. As many may forget when the tax credit was rolled out the economy as well as the housing market was in really dire straights buyers were on the sideline and not coming off of it. The tax credit helped build back some confidence and probably pushed an additional 10%-20% more sales in last year that would have otherwise fallen into the first two quarters of 2010. Here is a video from cnbc.com talking about the statistics and impact the $8,000 first time buyer tax credit has had on the national housing market.

first time homebuying tax credit

November 2nd, 2009 by Michael Oliver

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Share on Facebook The first time homebuyer tax credit extension is getting close to being completed. Here is the latest on what should be a part of the final package for homebuyers;

— The tax credit would be $8,000 for first-time home buyers and $6,500 for move-up buyers (from December 1, 2009 to April 30, 2010).

— Move-up buyers will be eligible, so long as the home they are leaving has been used as their principal residence for 5 years or more.

first time homebuying tax credit, homebuying credit, tax credit for homebuyers