8k tax credit

[allagash]

any word on whether the Nov 30th deadline will be extended or whether another program will replace this?

-Mike

[christopher w]

I thought you could see the future??

Why don't you tell u tell us?

[allagash]

I thought you could see the future??

Intraday....

Yes!

-Mike

[christopher w]

Seriously though there is a good article regarding the 8K tax credit in the New York Times today.

Here is a link to it.

http://www.msnbc.msn.com/id/32872167/ns/business-the_new_york_times

Hope this helps answer your question.

[allagash]

good article.

thanks,

-Mike

[sellnbama]

This is what the repubs proposed when this Tax credit was developed and as usual was shot down.I'm not for the increase but I am for extending it and making it open to ALL buyers not just first timers.They're pissing away billions elsewhere,seems like a no-brainer to me.So much trickles off of housing until it's back on track,nothing's fixed.   

[christopher w]

I don't know about all buyers, but adding in bump for new construction might be a good way to get construction started again and also add some new jobs.

[sellnbama]

Any additions would help(except whorehouses like acorn).lol  Just needs to be available to more than just 1st timers.

[phlemboy]

I think it will depend on how the overall economy is doing at the time. I read an artle about it somewhere. If I find it I'll post it. I never understood why they limited it to just first time homebuyers. They eliminated potential homebuyers at a time when the housing market needed it the most. Also, when you buy a home, regardles if you're a forst time homebuyer, you ALWAYS have to go out and buy thing to furnish,improve,maintain, etc.. That helps the economy. Unemployment will improve, and the cycle will begin start up again.

[christopher w]

Phlem,

You make a great point. I always advise my customers to not empty their accounts to purchase a home because there are always costs after closing. The example I use is for window coverings. If the house does not have shutters or blinds then the customer will have to immediately buy curtains, drapes, etc... unless they want to have people looking in their windows. Not to mention the wife will always want something. A room painted, a new rug, something.

[jrockfl]

great article