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$8,000 Tax Credit for Homebuyers passes, not $15,000 that everyone hoped for..READ THE BILL. LasVegas

Well folks, it is a done deal now...But, not the $15,000 that was originally submitted...See previous blogs Senate passes $15,000 credit for homebuyers..but wait...its not a done deal yet...

Senator Johnny Isakson, a Georgia Republican who sponsored the amendment has said..said. "I'm extremely disappointed the members of Congress negotiating the final package decided to eliminate my $15,000 tax credit for all Americans who purchase a home. I will continue to pursue my proposal as stand-alone legislation..Read more here

Even though the credit is 10% of the homes value, capped at $8,000,(whichever is less), that is still better than getting 0!  A big plus is that the credit is refundable.

There are restrictions and changes, some of which are...

To qualify, you have to buy a house between Jan. 1 and Dec. 1 and use it as your primary residence.

You must be a first time home buyer (OR.. you haven't owned a house in at least three years)

The credit won't have to be repaid, unless the property owner sells within three years

Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit

 

Recovery.gov  Read the Bill  You have to go down to about pg 203, HR1 - 192 Div B Tax Provisions Title 1 Sec. 1006

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Dawn Barrier
Liberty Realty
2920 S. Durango
Las Vegas, Nv 89117

(702) 812-4550

www.DawnBarrier.com

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Dawn Barrier    EXP REALTY Las Vegas   (702) 812-4550 

 

 

 

 

 

 

  

 

   

 

 

 

 

 

 

 

Any Stats are on Resale Single Family homes only per the GLVAR MLS as of this writing or as noted,covers the Las Vegas Valley, North Las Vegas, Henderson area or as noted.

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Comment balloon 2 commentsDawn Barrier • February 19 2009 10:58AM
$8, 000 Tax Credit for Homebuyers passes, not $15, 000 that everyone…
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Well folks, it is a done deal now… But, not the $15, 000 that was originally submitted… See previous blogs Senate passes $15, 000 credit for homebuyers.. but wait… its not a done deal yet… Senator Johnny Isakson a Georgia Republican who… more
Senate passes $15, 000 credit for homebuyers.. but wait… its not a…
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This is an update from yesterday's post $15, 000 Home Buyers Tax Credit -It may get Buyers off the Fence. Well, todays vote of 61/37 officially passes thru the Senate the stimulas plan, but now has to pass thru both Houses before the President… more
$15, 000 Home Buyers Tax Credit -It may get Buyers off the Fence.
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The Senate voted last Wednesday night to give a tax break of up to $15, 000 to homebuyers in hopes of revitalizing the housing industry, but it isn't official yet… Senator Johnny Isakson a Georgia Republican who sponsored the amendment,… more
Drastic New Home Price Reductions! ‏ Big Houses in Las Vegas…
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Builder is discounting homes … $568, 000 Price Reduction: Plan 3784 drops from $920, 000 to just $352, 000 ($93 per SqFt) $480, 000 Price Reduction: Plan 3768 drops from $875, 000 to just $395, 000 ($105 per SqFt) $480, 000… more