Comments on: $8000 Tax Credit for First Time Buyers http://www.infotube.net/blog/2009/02/8000-tax-credit-for-first-time-buyers.html The InfoTube.net Real Estate Blog gives you an insider look at selling and buying homes for sale. Tue, 09 Mar 2010 17:01:06 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Tommi Crow http://www.infotube.net/blog/2009/02/8000-tax-credit-for-first-time-buyers.html/comment-page-1#comment-814 Tommi Crow Fri, 13 Mar 2009 20:11:54 +0000 http://www.infotube.net/blog/?p=558#comment-814 Allen, I agree that the $8000 tax credit will not make buying a home more affordable now, but it is an $8000 windfall none the less. It will certainly help to encourage fence sitters to buy a home now. Why wouldn't they? House prices having fallen dramatically in most of the US, which makes buying a home versus renting one very attractive to a lot of people. Throw in historically low interest rates, which are likely to rise later in the year and you see that buyer's have a lot of reasons to get off the fence. The $8000 is just a bonus. I sure wish I would have gotten one when I bought a home. Kudo's to the Obama team for getting the $8000 tax credit passed through both houses. The announcement stirred up activity in the market, which helps seller's, and represents wonderful savings for first time buyers! Allen, I agree that the $8000 tax credit will not make buying a home more affordable now, but it is an $8000 windfall none the less. It will certainly help to encourage fence sitters to buy a home now. Why wouldn’t they?

House prices having fallen dramatically in most of the US, which makes buying a home versus renting one very attractive to a lot of people. Throw in historically low interest rates, which are likely to rise later in the year and you see that buyer’s have a lot of reasons to get off the fence. The $8000 is just a bonus. I sure wish I would have gotten one when I bought a home.

Kudo’s to the Obama team for getting the $8000 tax credit passed through both houses. The announcement stirred up activity in the market, which helps seller’s, and represents wonderful savings for first time buyers!

]]> By: Allen Davis http://www.infotube.net/blog/2009/02/8000-tax-credit-for-first-time-buyers.html/comment-page-1#comment-813 Allen Davis Fri, 13 Mar 2009 14:57:05 +0000 http://www.infotube.net/blog/?p=558#comment-813 While the $8000 is a nice incentive, it does nothing to make a home more affordable since the loan has to be approved, the sale closed and 2009 tax return filed before the buyer will receive the credit. This may push a few fence sitters over the edge, but for the most part, I don't see it as having a major effect on the housing market. How will $8000 that I get a year from now help me buy a home today? While the $8000 is a nice incentive, it does nothing to make a home more affordable since the loan has to be approved, the sale closed and 2009 tax return filed before the buyer will receive the credit.

This may push a few fence sitters over the edge, but for the most part, I don’t see it as having a major effect on the housing market.

How will $8000 that I get a year from now help me buy a home today?

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