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Hank Coin, Other/Just Looking in 18464

Do you think the real estate market will be affected by the Stimulus Bill in a positive way?

Asked by Hank Coin, 18464 Mon Feb 9, 2009

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I agree with Larry, the $15,000 credit seems to have been eliminated, when congress reconciles the two bills. It is disappointing to buyers, seller, Realtors and lenders as a tax credit would stimulate the housing market and lead to a real estate recovery. It is still a great time to buy a home. The interest rates have bumped up a little but, are still at historic lows. There are many choices available, with negotiable sellers. the prices seem to have rolled back to 2004 levels (before the bubble). Now is opportunity time for buyers.
1 vote Thank Flag Link Wed Feb 11, 2009
Absolutely! The Stimulus Bill has some provisions for a tax credit for any purchase of a home in 2009. The $15,000 tax credit in the senate bill, is a really nice incentive to purchase, because a tax credit comes off-the-top against earned income, whereas a write off such as mortgage interest is deducted further down on the Federal tax return. With interest rates hovering at near 30 year lows, their are many choices in housing and prices are back to 2004 levels. If there was ever a time to purchase a home, now would be the time.
On Whidbey Island, my market place, it appears we have hit bottom. The number of pending sales are way up (45%) and the listing price to sales price ratio is at 100%. (Meaning that buyers are paying the list price on correctly priced homes.)
1 vote Thank Flag Link Mon Feb 9, 2009
Hank,
If what they just reported is true maybe not that much. I heard they took out the $15,000 tax credit. I was really looking forward to sending that message out.
0 votes Thank Flag Link Wed Feb 11, 2009
Hi Hank,

There've been some good discussions on this topic on Trulia Voices already. I encourage you to check out http://www.trulia.com/voices/Answer/What_does_everyone_think… for some more opinions and insights.

Best Wishes,

Emily Gibson
Community Moderator
0 votes Thank Flag Link Wed Feb 11, 2009
Hank,

If it doesn't I know a whole country of people that will be very disappointed. As Linda so thououghly pointed out, the stage is set.........now it's a matter of waiting to see what the results will be.
0 votes Thank Flag Link Mon Feb 9, 2009
Absolutely!!! Can't wait to see what is decided next.
Already, there has never been more opportunity for buyers
and sellers alike!
Ron and Debbie Albert
http://www.ronanddebbie.net
0 votes Thank Flag Link Mon Feb 9, 2009
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