does the new proposed tax credit for purchasing a house apply only to first time home buyers?

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My understanding is that the economic stimulus package now includes a provision that will entitle home purchasers to a $ 15,000 tax credit. Do you know if this is just for first time home buyers or for anyone?

4 Comments
  1. Reply
    Gem
    July 17, 2011 at 6:42 pm

    The bill hasn’t passed yet.

    My understanding is “first time” housebuyers, or those that have not been buying a house for the past 3 years.

    There is a $ 7500 credit (loan, has to be paid back over 15 years) right now that is good for purchases through June.

  2. Reply
    GRANT. Y
    July 17, 2011 at 7:30 pm

    i would like to know more im a first time home buyer in mn. if i accept the counter offer on monday ill close 3/3/09

  3. Reply
    godged
    July 17, 2011 at 7:44 pm

    It has not passed yet. Stand by.

  4. Reply
    Gabe G
    July 17, 2011 at 8:20 pm

    Grant
    Do not accept the counter offer.
    Stay put.
    Both sides of the isle happen to agree of about this issue so it will pass. They are fight for the pride of authorship.
    Also keep in mind they may keep arguing about the Housing component of the Stimulus and what should be appropriately included in that. In effect, they are debating on what should go along with this $ 15000 tax credint not whether or not the tax credit should be voted into law.
    The realtors that are chiming in appear to expect the news to somehow find them rather than searching to find the most up to date information that best serves their customers.

    Also, even after the bill passes in some form, the economy will still keep going downhill thru the end of ’09. So your opportunity to purchase this Real Estate will not pass.

    Just do yourself a favor: only compensate thos facilitators that contribute. A realtor who has just been appraised of this bill last night is not one of those individuals. Also realize that all the governing Realtors are civil laws that ensure that the ONE who signs the Seller of a property gets his/her money without interference from other individuals in the Realty profession. End of story.
    Relying on their statistical studies, if they can be called that, only support the Thesis that the Seller’s Agent Gets the money and then fairly distributes portions of that money to the colleagues.
    Go towards discount firms or simply walk up to sellers and ask them when they would expect their contract with their Realtor to Expire because you may have an offer for them.
    A lot of people are realizing that the Realty profession is a fraud that adds No value and impedes Sales because of the artificially inflated Sales price so that their commissions are covered.
    Don’t Get Fooled!

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