Comments on: White House Press Secretary Robert Gibbs on Extending the First Time Home Buyers Tax Credit

By: cdloanmod

cdloanmod — Fri, 09 Oct 2009 11:55:03 +0000

Thanks for providing information about Tax Credit for first time home buyers. I think that information is useful for home buyers and making loan modification program.

By: UPDATE: $8,000 Homebuyer Tax Credit Extension – October, 2009 |

UPDATE: $8,000 Homebuyer Tax Credit Extension – October, 2009 | — Thu, 08 Oct 2009 18:32:40 +0000

[...] first article is by Jay Thompson, The Phoenix Real Estate Guy. Jay Thompson is a prolific real estate blogger and an avid consumer education [...]

By: sellyourhouse

sellyourhouse — Thu, 08 Oct 2009 10:01:54 +0000

This is good news for first time home buyers.Also these will boost the real estate business.

By: Peter08

Peter08 — Thu, 08 Oct 2009 04:49:25 +0000

Great points to be considered here. You're indeed a genius when it comes to this industry. Good luck and more power to you. By the way, I know a real estate coach who could also help many in the real estate industry make money despite the current crisis.

By: Augusta Real Estate

Augusta Real Estate — Thu, 08 Oct 2009 01:32:10 +0000

Thanks for the update. I don't believe the White House or Congress has arrived at a decision regarding this issue.

I completely agree with advising clients to strongly consider why they are purchasing a home. If the sole reason is the $8,000 tax credit, they should not proceed.

By: Name

Name — Wed, 07 Oct 2009 23:07:23 +0000

Lets hope it doesn't get extended. This is a horrible return for taxpayers.

http://www.calculatedriskblog.com/2009/10/housi...

By: C Richey

C Richey — Wed, 07 Oct 2009 18:28:34 +0000

I think a big part of the hedging is funding. The majority of people commenting on our blog about the credit are asking about amended returns and when people have actually received their credit. They'll be another big wave of people claiming the credit next tax season. That has to factor in to their thinking about extensions.

By: JoeLoomer

JoeLoomer — Wed, 07 Oct 2009 11:29:52 +0000

Excellent Jay - spent a few hours researching the bills last week, and by my count there are now at least nine Senate and House Resolutions languishing in committee.

Buying a home should never be done because of a short-term gain. Down-payment assistance programs, Alt-A and Option ARM products all contributed to the housing slump we're in now.

Buy a home and understand you're in it for the long haul (minimum five years). Get a product that you can handle long-term with no major adjustments to rates or payments. If you cannot afford it on one salary - you're probably looking in the wrong price range.

Navy Chief, Navy Pride

By: lasvegasrealestatepaul

lasvegasrealestatepaul — Wed, 07 Oct 2009 11:15:34 +0000

Nice post and position on the tax credit extension speculation and advice. You have to wonder if the last minute surge is going to end up hurting more then it helps in the long run. (Lower home values when it ends.) Just look at the cash for clunkers program and the car sales numbers for the months after the program ended.

But instead of a car that we all know depreciates in value.. we are dealing with homes.

By: Portland Real Estate

Portland Real Estate — Tue, 06 Oct 2009 22:46:40 +0000

I think that it will be extended, but I doubt they will say anything until the last minute. They would not want to accidentally stop the nice surge that is going on right now. If they let people know that it was going to be extended then they wont worry about jumping into a home now.

-Tyler