There has been much contention over the impending expiration of the $8,000 first time home buyer tax credit. The tax credit is a stimulus incentive that was set to expire on December 1st 2009.
The tax credit allowed first time home buyers purchasing their primary residence to receive a tax credit of up to $8,000. With the expiration of the program many feared that home sales would declined and a market recovery would be further delayed.
Initial reports are that the Senate has not only approved an extension of the first time home buyer tax credit, but an expansion that would allow current home owners to also be eligible for a tax credit on a new home florida purchase as well! Read more...(434 words and 1 image, estimated 1:44 mins reading time)
One of the biggest factors driving Florida Mortgage home owners into the first time home buying market has been the Government’s $8000 tax credit incentive.
This program has been a huge advantage to first time home buyers (technically classified as anyone not having owned a home in the last three years) that had previously been on the fence wondering when the market was going to hit bottom. Read more...(588 words and 1 image, estimated 2:21 mins reading time)
There has been much contention over the impending expiration of the $8,000 first time home buyer tax credit. The tax credit is a stimulus incentive that was set to expire on December 1st 2009.
