Home Buying in 18102>Question Details

Natalie, Home Buyer in Allentown, PA

First time home buyer $8000. stimulus

Asked by Natalie, Allentown, PA Mon Oct 5, 2009

Does anybody here actually think that the government is going to extend the first time homebuyer stimulus like the NAR is requesting?let me know what your thought are either way and why you think so?Thanks

Help the community by answering this question:


Hello Natalie!

Well, your guess i s as good as mine. But, since you are asking my opinion - I would have to say if they where going to extend the credit it would most likely not come until after the deadline...because the point to the credit is to Simulate the economy and if they tell everyone that it is getting extended then...everyone will wait. Not a really great way to Stimulate..would you agree?

So, Yeah I think that there has been proof that this Home Buyer incentive has helped us stimulate the economy but we need more and I think they should open the regulation to some seller's who have not sold in over 5 years or something...There are so many 65 Plus consumers that are living in these big homes that need to sell but to purchase a home in today's market at today's prices...even in the Lehigh Valley...it is crazy for these consumers to afford anything smaller.

Hope this helps you and good luck in your future home purchase...
1 vote Thank Flag Link Mon Oct 5, 2009
GREAT however if government announced NOW extend many famlies will put off their search. till 2010. Government want homes to sale thru 11.30

It is a win win situation for many people. However most home buyers don't know you receive annual tax benefits owning a home !

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0 votes Thank Flag Link Thu Oct 8, 2009

Most experts will tell you they feel there needs to be a continuation of some version of home ownership support. There remains great concern for the large number of "short sales" transaction that are currently out there and what to do with them.

In our opinion, the 2009 tax incentive program was an initial response to regain some control over a "crisis" situation. Most would agree that the crisis has not passed........it has only been slowed. The measures that will be taken are still unclear but the general feeling is that some additional government measures need to be taken to keep people in their homes.
0 votes Thank Flag Link Tue Oct 6, 2009
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