It’s Time to Contact Congress
Kathy Riggs October 4th, 2009
The clock is quickly ticking as the November 30 deadline for the first time home buyer’s tax credit approaches. If you have been following my posts or considering buying your first home you must be aware of the $8,00 tax credit available to first time home buyers if they purchase a home and CLOSE the transaction by Nov. 30.
The tax credit has stimulated many first time home buyers to make the move from thinking to doing. To qualify for the first time home buyer’s tax credit, a home buyer must not have owned a home within the past three years and there are some income requirements. Scroll down to see some of my past blogs for income detail or call your tax advisor.
The point here is the tax credit will not be available after November 30 unless Congress passes an extension. According to the National Association of Realtors, the tax credit has been working beautifully, pushing higher home sales in April, May, June and July. The National Association of Realtors estimates two million first time home buyers may have purchased homes this year with 350,000 closings coming as a direct result of the tax credit.
Homeownership is the American Dream, depicted in movies, music and television. The right to own property and do with it what one wishes – as long as it is legal – is a goal and a dream for all Americans. The housing market is one of the pillars of our national economy and when someone buys a house everyone wins…the government receives property taxes, insurance agents benefit…banks win with revenue received from the loan and the new homeowners stimulate retail sales when they buy furniture, curtains and appliances, all the things to make their piece of the American dream truly their own.
Everyone benefits when someone buys a home and that is what the tax credit needs to be extended. Write, call or email your Congressional representative and your U.S. Senator. Ask them to pass a bill to extend the first time home buyer’s tax credit into 2010.
on the lighter side…
Q. What does “up and coming neighborhood” mean? A. The established residents left and the neighborhood needs some responsible citizens to bring it up.
SHAMELESS PLUGS
I have a client interested in purchasing an existing poultry farm. I also have some clients very interested in purchasing several tracts of 60 to 80 acres of farm land.
Call me at 252-939-2432 or email me at kriggs@kathyriggs.com for more information.
- Real Estate News
- Comments(0)