Comments on: Update6: Obama Signs New Homebuyer Tax Credit

By: house buying tax credit

house buying tax credit — Fri, 15 Jan 2010 23:22:02 +0000

house buying tax credit…

Update6: Obama Signs New Homebuyer Tax Credit | HSH Financial … is an excellent post about the house buying tax credit….

By: Tim Manni

Tim Manni — Wed, 16 Dec 2009 17:34:44 +0000

Hey Steve,

Thanks for your comment!

-Tim

By: Steve

Steve — Wed, 16 Dec 2009 16:38:26 +0000

Unfortunately most people don’t see how the bill discriminates against people who purchased homes in the spring or summer of 2009 and owned their prior homes for the 5 out of 8 year period. These people obviously contributed just as much to the housing market as the people who will purchase homes after 11/06/2009. So in other words, do it when Obama says or it don’t count. I am so glad I helped the contactors who needed work back in early 2009 and helped to keep them afloat. Thanks Obama for your understanding and appreciation.

By: Tim Manni

Tim Manni — Mon, 09 Nov 2009 17:15:12 +0000

Hello homebuyer,

If you have “owned and occupied a residence for at least five years out of the past eight can claim a $6,500 tax credit if [you] close on a purchase by the end of June.”
http://blog.hsh.com/?p=6422

By this reckoning, you may have missed out since you only owned a residence for four years instead of the required five.

Check out the IRG.gov to make sure.

Thanks for commenting,
Tim

By: homebuyer

homebuyer — Sat, 07 Nov 2009 06:29:01 +0000

Am I qualified. I purchased home in 2004 and sold it in 2008. by end of 2009, I will be buying home again. I would like to know if I am qualified as 2nd time home buyer for 6.5K credit. Pls help me.

By: dolans (Ken and Daria Dolan)

dolans (Ken and Daria Dolan) — Fri, 06 Nov 2009 18:19:04 +0000

RT @HSHassociates: RT @dolans Senate approves homebuyer tax credit 98-0 “The Very Latest on the Homebuyer Tax Credit” http://bit.ly/NYJde

By: Tax Breaks Expanding For Homebuyers!! « Join.The.Fray

Tax Breaks Expanding For Homebuyers!! « Join.The.Fray — Fri, 06 Nov 2009 06:46:40 +0000

[...] [...]

By: Tim Manni

Tim Manni — Thu, 22 Oct 2009 17:56:52 +0000

Hey Chris,

No I didn’t see that — I’ll check it out. I wonder how much influence the fraud will have on a possible extension.

What do you think?

-Tim

By: Chris

Chris — Thu, 22 Oct 2009 17:32:41 +0000

Tim,

Did you see this Time article on IRS scrutiny of the home buyer tax credit? http://tinyurl.com/yjx5qra

Chris

By: Tim Manni

Tim Manni — Tue, 20 Oct 2009 19:29:39 +0000

Lucia,

Hmmm, that’s an interesting perspective…hadn’t thought of it that way. The only issue I have with that is, I think it’s still too early, even though the supposed decision is only weeks away, for the WH to make a claim one way or the other. By Donovan’s reckoning, they still don’t know this tax credit’s price tag, and many analysts disagree with how effective it has even been. I think the WH is scared to endorse another “bailout type” of incentive — that’s why their housing assistance for the HFAs was so carefully structured with taxpayer protections.

“…in hopes something else will give them an easy out…”: any idea what that may be?

Honestly, I’d be surprised if they don’t extend the credit. If they in fact do not, I wonder if it will be b/c the WH feels the market is ok on its own, or they’re unwilling to spend more.

Can’t wait to find out!

Good to hear from you,
Tim