Comments on: Homebuyer Tax Credit http://www.bubbleinfo.com/2009/10/28/homebuyer-tax-credit/ An insider's guide to North San Diego County Real Estate Fri, 12 Mar 2010 07:17:55 -0700 hourly 1 By: Carpet Cleaning San Diego http://www.bubbleinfo.com/2009/10/28/homebuyer-tax-credit/comment-page-1/#comment-28586 Carpet Cleaning San Diego Wed, 10 Feb 2010 06:14:19 +0000 http://www.bubbleinfo.com/?p=4804#comment-28586 With the 2010 new home buyer tax credits extended, and move up credit, we should still see a good market. Even if the banks part out with more REO's. Good Year ahead With the 2010 new home buyer tax credits extended, and move up credit, we should still see a good market. Even if the banks part out with more REO’s. Good Year ahead

]]> By: James http://www.bubbleinfo.com/2009/10/28/homebuyer-tax-credit/comment-page-1/#comment-24467 James Thu, 05 Nov 2009 00:00:03 +0000 http://www.bubbleinfo.com/?p=4804#comment-24467 We also bought a new home in june of 09 taking advantage or lower prices in a better area of town. We had lived in our previous home for 4 years. Do we qualify for some lower amount of rebate or are we SOL? We also bought a new home in june of 09 taking advantage or lower prices in a better area of town. We had lived in our previous home for 4 years. Do we qualify for some lower amount of rebate or are we SOL?

]]> By: Frank http://www.bubbleinfo.com/2009/10/28/homebuyer-tax-credit/comment-page-1/#comment-24288 Frank Sat, 31 Oct 2009 17:15:27 +0000 http://www.bubbleinfo.com/?p=4804#comment-24288 What if you are a move-up buyer who owned home for the required 5 yrs, but closed in Sept. 2009? Do you think the extention can be applied to homes closing before 12-01-2009? What up with that?? What if you are a move-up buyer who owned home for the required 5 yrs, but closed in Sept. 2009? Do you think the extention can be applied to homes closing before 12-01-2009? What up with that??

]]> By: shadash http://www.bubbleinfo.com/2009/10/28/homebuyer-tax-credit/comment-page-1/#comment-24229 shadash Fri, 30 Oct 2009 11:21:12 +0000 http://www.bubbleinfo.com/?p=4804#comment-24229 It meant give home sellers money when they sell It meant give home sellers money when they sell

]]> By: shadash http://www.bubbleinfo.com/2009/10/28/homebuyer-tax-credit/comment-page-1/#comment-24228 shadash Fri, 30 Oct 2009 11:19:31 +0000 http://www.bubbleinfo.com/?p=4804#comment-24228 Why does the Government hate renters so much? Isn't government supposed to represent their constituants? Is it fair to take tax dollars from everyone and give it back to a limited few? The funny part about this new stimulus is that it's just a way to give home buyers money when they sell their home. It's not a way to help new home buyers. Why does the Government hate renters so much? Isn’t government supposed to represent their constituants? Is it fair to take tax dollars from everyone and give it back to a limited few?

The funny part about this new stimulus is that it’s just a way to give home buyers money when they sell their home. It’s not a way to help new home buyers.

]]> By: Jim the Realtor http://www.bubbleinfo.com/2009/10/28/homebuyer-tax-credit/comment-page-1/#comment-24183 Jim the Realtor Thu, 29 Oct 2009 04:43:36 +0000 http://www.bubbleinfo.com/?p=4804#comment-24183 The latest revision, thanks to CR: <b>The article states the plan might still change.</b> The details: Income eligibility for home buyers increases to $125,000 for individuals and $225,000 for couples. The tax credit for first-time home buyers (anyone who has not owned in the last 3 years) will be the lesser of $8,000 or 10% of the purchase price. For move-up buyers - "who have lived in their current home for at least five years" - the credit would be limited to $6,500. The credit runs from Dec. 1, 2009 to April 30, 2010, with an additional 60 day period to close escrow. (So end of April to sign contract, end of June to close escrow) The latest revision, thanks to CR:

The article states the plan might still change.

The details:

Income eligibility for home buyers increases to $125,000 for individuals and $225,000 for couples.

The tax credit for first-time home buyers (anyone who has not owned in the last 3 years) will be the lesser of $8,000 or 10% of the purchase price.

For move-up buyers – “who have lived in their current home for at least five years” – the credit would be limited to $6,500.

The credit runs from Dec. 1, 2009 to April 30, 2010, with an additional 60 day period to close escrow. (So end of April to sign contract, end of June to close escrow)

]]> By: Ronald McMansion http://www.bubbleinfo.com/2009/10/28/homebuyer-tax-credit/comment-page-1/#comment-24182 Ronald McMansion Thu, 29 Oct 2009 02:43:52 +0000 http://www.bubbleinfo.com/?p=4804#comment-24182 I really don't think this credit is targeted at coastal California. The nation is a lot larger than that, and this could be a lot of money in some of the more depressed markets. I think there could be areas that could heat up because of this, while others try to heat up but ultimately fizzle out. I really don’t think this credit is targeted at coastal California. The nation is a lot larger than that, and this could be a lot of money in some of the more depressed markets.

I think there could be areas that could heat up because of this, while others try to heat up but ultimately fizzle out.

]]> By: Jay http://www.bubbleinfo.com/2009/10/28/homebuyer-tax-credit/comment-page-1/#comment-24178 Jay Thu, 29 Oct 2009 01:23:54 +0000 http://www.bubbleinfo.com/?p=4804#comment-24178 Jim, What are your thoughts on the low end re-sale market with all the latest news? Do you think it will remain hot for the next few months? Jay Jim,

What are your thoughts on the low end re-sale market with all the latest news? Do you think it will remain hot for the next few months?

Jay

]]> By: sdbri http://www.bubbleinfo.com/2009/10/28/homebuyer-tax-credit/comment-page-1/#comment-24155 sdbri Wed, 28 Oct 2009 23:35:44 +0000 http://www.bubbleinfo.com/?p=4804#comment-24155 $8K was too small to really influence my decision to buy, but it does matter. It's an extra 3 months of rent for safety margin on top of what you already have. So I'm more than happy to take free money for something I decided to do anyways. Put in perspective, it's about 1 1/2 points or 3/4 of a percent interest. Nobody should be buying a house simply because interest rates are "cheaper" by 3/4 of a percent interest, but it's also an extreme to say it doesn't matter. Lots of factors matter, $8K just happens to be small fry. $8K was too small to really influence my decision to buy, but it does matter. It’s an extra 3 months of rent for safety margin on top of what you already have. So I’m more than happy to take free money for something I decided to do anyways.

Put in perspective, it’s about 1 1/2 points or 3/4 of a percent interest. Nobody should be buying a house simply because interest rates are “cheaper” by 3/4 of a percent interest, but it’s also an extreme to say it doesn’t matter. Lots of factors matter, $8K just happens to be small fry.

]]> By: Geotpf http://www.bubbleinfo.com/2009/10/28/homebuyer-tax-credit/comment-page-1/#comment-24153 Geotpf Wed, 28 Oct 2009 22:38:52 +0000 http://www.bubbleinfo.com/?p=4804#comment-24153 Well, assuming you aren't paying cash, eight grand today is worth a lot more than eight grand over thirty years, which amounts to something like $44 a month at current interest rates. Lots of people, if given a choice between a check for eight grand or a check for $44 a month for thirty years, would choose the eight grand. Well, assuming you aren’t paying cash, eight grand today is worth a lot more than eight grand over thirty years, which amounts to something like $44 a month at current interest rates. Lots of people, if given a choice between a check for eight grand or a check for $44 a month for thirty years, would choose the eight grand.

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