Big Bump in July Housing Sales The federal government’s $8,000 tax credit for first-time home buyers appears to be doing its job: according to NAR, sales of single-family homes increased 7.2% in July from a month earlier. So, what will happen come Nov. 30, when the credit is set to expire? I’m hearing — and...Read More
Today’s Wall Street Journal has a nice Q & A discussing eligibility requirements for the $8,000 tax credit. Hint: it’s more complicated than you think. Here’s the link: “Cracking a Valuable Home Buyer Credit“Read More
Housing’s “Big Two” Numbers Two numbers loom especially large in the national housing market right now: $8,000, and 4%. The first number is the tax credit available to eligible home buyers. Coincidentally or not, that’s approximately what annual payments come to on an average-priced U.S. home (now about $175,00). To balky Buyers who’ve been waiting...Read More
