Market Tax Credit
January 30th, 2009
Question: Would you enter the housing market as a first time home buyer with the new bill that has been passed?
The housing bill is offering a $7500 tax credit for all new first time home buyers if they buy before july of ’09. Do you think I should jump on this, or wait until home prices drop more?
Answer: I am thinking about it, but I need more info. I have tried looking up at cnnmoney, msn money, yahoo finance for additional info, all with no luck. I make over 80,000 a year with my two jobs. Usually, there is an income limit. If there isnt a limit, or I qualify for the full amount, I am definitely thinking about it. I have a lease expiring in Sept. I am thinking of renewing for only 6 months and starting to save up as much cash as possible and try and make a move in March or April.
If it is every first time homebuyer gets the full credit no matter the cost of the house or their yearly income, count me in. There are nice 2 bedroom houses going for 100,000 in my neighborhood.
If I saved 7500 in taxes, that is 7.25% of the value of my house. I could take the rebate (tax credit) and apply it all to the house. Say I put 15,000 down, I will be at 85,000 mortgage. Than, an additional 7500 9 months later (when I get the rebate) I will be down to 77500 and have 23,000 in equity (not including the payments I will make over the first year).
Market gets liquidity boost with cut in delivery period
The State Securities Commission plans to boost stocks liquidity by loosening restrictions on the sale of equities this month, said its chairman Vu Bang.
66Talking ED – New Market Tax Credit v2.mov
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