Saturday, December 12, 2009

6500 Tax Credit

A new gift from the goverment was recently unveiled, an extension of the 8000 first home buyer tax credit and the addition of a 6500 home buyer tax credit for those who are upgrading to a better home from the one they've lived in for the past five years. The 6500 tax credit is a further effort to stimulate the sick housing market in the United States and offer incentives to those to already own a home. This should provide some much needed stimulus to the move up home market where homes above $250,000 are still not selling well unlike the starter home market. Congress is hoping the 6500 home buyer tax credit can move some of that unsold inventory of bank owned homes that may help prop up the real estate market that could certainly use some help.