Will the $15,000 Tax Credit For Home Buyers Happen?
Here’s a snippet from the Yahoo Article:
Officials put the cost of the bill at $827 billion, including Obama’s signature tax cut of up to $1,000 for working couples. Also included is a tax credit of up to $15,000 for homebuyers and smaller breaks for people buying new cars. Much of the new spending would be for victims of the recession, in the form of unemployment compensation, health care and food stamps.
You can read the details HERE.
What Would A $15,000 Tax Credit For Home Buyers Do For Our Local Real Estate Market?
Flea sized mortgage rates in the 4% – 5% range + motivated sellers + pend up demand + sweeping selection = What Do You Think? Opportunity? Yawn? Fear? Delight? Stimulus? Action?
Here’s what I THINK.
Want To Help?
A couple of things we can do. We can encourage our Senators .
| Member Name | DC Phone | DC FAX | Electronic Correspondence |
| Senator Kay Bailey Hutchison (R- TX) | 202-224-5922 | 202-224-0776 | http://hutchison.senate.gov/contact.cfm |
| Senator John Cornyn (R- TX) | 202-224-2934 | 202-228-2856 | http://cornyn.senate.gov/public/index.cfm? FuseAction=Contact.ContactForm |
| Representative Kevin Brady (R – 08) | 202-225-4901 | 202-225-5524 | rep.brady@mail.house.gov |
In Texas, Realtors and Civilians can have the following letter automatically sent with a few simple mouse clicks - Click Here To Send Your Letter – Realtors and Civilians
Below is the sample letter:
Subject: Reviving the real estate market must be the focus of the Stimulus plan to be sent to the President
Dear [decision maker],
The current economic crisis is the result of problems in the nation’s housing markets. Efforts to boost the overall economy will be wholly ineffective if the Economic Stimulus bill that goes to the President does not include provisions focused on stabilizing real estate markets.
Both the House and Senate versions include provisions that are consistent with a housing plan that Realtors have advocated for several months. A few more changes are needed. Provisions offered by the National Association of Realtors that must be included are:
*The $15,000 home buyer tax credit that was proposed by Senators Isakson, Lieberman and Dodd.
*Permanent FHA, Fannie Mae and Freddie Mac loan limits that match the levels enacted in 2008.
*Increased resources for foreclosure mitigation efforts to stem the flood of foreclosures.
Housing has always lifted our economy out of past economic downturns. Let’s get housing moving now so that the economy can recover. Please support the inclusion of these critical provisions in any economic stimulus bill sent to the President.
Thank you for your hard work.
Sincerely,
Kenneth Brand
Rock On Friends. There’s light at the end of the tunnel, it’s not a train, it’s time to think and act forward.
