Ken's Naperville Real Estate Blog : THE NEW HOMEBUYER TAX CREDIT. THIS COULD BE BIG...

THE NEW HOMEBUYER TAX CREDIT. THIS COULD BE BIG...

Are you are thinking of buying a home in the next year?  Or are you a Realtor that needs to sell more homes?

Then the article, "New Tax Credit may be worth pouncing on," written by Kenneth Harney in today's Washington Post is a must read...

This article is the clearest explantation I have read of the new tax credit, that took effect on November 6th...

While last years tax credit for "first time home buyers" impacted relatively few, I believe the new tax credit will have a major impact.

Not only does the new law extend the first time home buyer credit until June 30, 2010...

But now, most that have owned their home 5 years or more and buy another home will be eligible for a $6500 tax credit.  This describes almost everyone I know!

Whether a buyer is moving into a bigger home or downsizing to a small condo, most who have owned their current home 5 years will be eligible...

I believe this tax credit will be the nudge many need to fall off of the proverbial fence...

2010 is the year volume will return to the real estate market...

Are you ready?

Ken

A Realtor you can trust.

p.s.  I have found Kenneth Harney on Facebook and become a fan.  I am #24...

Kenneth Harney Washington Post on Facebook

Comment balloon 6 commentsKen Tracy • November 13 2009 07:17PM

Comments

I'm not quite as optimistic as you.  I hope that you are right!

Posted by Janna Scharf, Coeur d'Alene Idaho Real Estate Expert (Keller Williams Realty Coeur d'Alene) almost 9 years ago

Ken,

I think this could stimulate things for a bit, I am concerned about the picture for us a year and a half out from now.

Posted by Heather Fitzgerald, REALTOR Greenwood Indiana Real Estate (REALTY WORLD-Harbert Company, Inc.) almost 9 years ago

Hi Janna and Heather.  I am feeling real good.

I know so many people who have put off moving.  This credit basically applies to anyone who has owned their home for 5 years...

I expect it to get some people moving!

Thanks again,

Ken

Posted by Ken Tracy, Helping clients buy and sell since 2005 (Keller Williams Realty Infinity) almost 9 years ago

Blog on. If we can get the word out to home owners and show them the #s i can be great.  Let others set on the sideline but I am all over it.

Keep up the good work.

Posted by David Timm, CRS, EcoBroker, GRI, ABR (Coldwell Banker Residential Brokerage) almost 9 years ago

Ken-I agree with David "Blog On" lets get the word out!

Posted by Joseph D. Federico, Eastern Massachusetts Real Estate (Donahue Real Estate Co.) almost 9 years ago

Hi David and Joseph.  Thanks for reading.

I am amazed how many will be eligible...

And I know many sitting on the fence.

Thanks again,

Ken

Posted by Ken Tracy, Helping clients buy and sell since 2005 (Keller Williams Realty Infinity) almost 9 years ago

This blog does not allow anonymous comments