“Keep the Momentum Going”

NAR President Charles McMillan said Congress needs to keep the momentum going. “Even with a good recovery taking place, the market is not yet back to normal. With a gradual absorption of inventory, we are on the cusp of a general stabilization in home prices,” he said. “To ensure that housing has a broad stimulus […]

by Nia Knowles
September 1, 2009
Real Estate 411

Industry Lobbies to Extend Buyer Tax Credit

Key organizations in the housing industry are urging Congress to increase the $8,000 home buyer credit to $15,000 and make it available to all home buyers instead of just those buying a first home. “What is being billed as a recovery is not showing up in the cash register yet,” says Richard A. Smith, CEO […]

by Nia Knowles
June 10, 2009
Mortgage 411

Home Buyer Tax Credit: How It Works

First-time homebuyers in 2008 can take an income-tax credit on their purchase, thanks to passage in Congress earlier this year of the first-time home buyer tax credit. The definition of first-time homebuyer is generous. To get the credit, the homebuyer cannot have owned a home in the previous three years. The home must be a […]

by Nia Knowles
December 29, 2008
Tax credit