As you may know, I have been advertising and promoting the $7500 First Time Home buyer Tax Credit (which is really an interest free loan for 15yrs) expires on July 1, 2009. And there has been very little interest by the general public & buyers.
THIS IS A NEWS FLASH: The new stimulus package may increase that credit to $15K for ANY purchase of a primary home, and IT DOESN’T NEED TO BE RE-PAID!!! This hasn’t been passed yet. But as soon as it is signed into law, I’ll let you know. This is the news from RIS Media today:
“The enhanced $15,000 tax credit offers a powerful incentive for home buyers to get off the sidelines and represents the best opportunity for economic recovery,” said NAHB Chairman Joe Robson, a home builder from Tulsa, Okla. “Congress must make sure that the full $15,000 tax credit remains in the final stimulus plan.”
The bipartisan amendment to the stimulus package, offered by Sens. Johnny Isakson (R-Ga.) and Joe Lieberman (D-Conn.) and approved by unanimous voice vote, would create a $15,000 home buyer tax credit available to all purchasers of a principle residence for one year after its date of enactment. The tax credit would not have to be repaid and buyers could claim it against their 2008 and/or 2009 tax returns.
This could be HUGE for our industry. Stay Tuned.
Thank you for the opportunity to serve you,
Evergreen Ohana Group
5331 SW Macadam Ave, Suite 287
Portland, OR 97239
Toll Free: (800) 387-7355
Office: (503) 892-2800 Ext.11
Fax: (503) 892-2803
OR ML-21, WA510-LO-33391, WA WA:520-CL-50385
PS. Your business and loyalty are truly valued. I strive to provide all my clients with the very best professional service possible. If a friend or family member would appreciate this level of service, please don’t keep me a secret!