Homebuyer Tax Credit Comparison

For your reading pleasure and the perfect handout to your first time home buyers.

Here is the result of your responding to the REALTOR Call to Action campaign, tireless advocacy by The Illinois and Chicago Association of REALTORS, and the dawning realization housing is a key component of the recovery effort.

Stay tuned for some proposals for getting this to the closing table and how you can join in the conversation!

Click here for a side-by-side comparison of the homebuyer tax credit that is currently in place vs. the new stimulus package.

Up-to-date information regarding the American Recovery and Reinvestment Act of 2009.

Comments

[30 years in the Business]

Much adieu about NOTHING. The $8K tax credit for first time buyers is off the mark in terms of stimulating the real estate brokerage business. Our lobbiests must return to the lawmakers and get the tax credit for EVERY home buyer. The first time buyer will be purchasing at a low end price point. May be they will buy a can of paint and a new shopwer curtain after they move in. Their funds will be dried up after the purchase and will not be stimulating the economy by "feathering the nest".
Upper end buyers would not only have a substantial amount for a down payment, but will make changes in the home decor,possibly some rehabbing and new furnishings. That will stimulate the home industry on all levels.
This $8,000. credit for first time buyer has not had ANY affect on our market in downtown Chicago.
We pay alot of dues for our lobbyists and we are all very disappointed
with their results. You need to get the word out to the press and to the lawmakers that this is not working.
Everyone, including that first time Buyer is worried about loosing their job.
There is no motivation to Buy now.