2009 Housing Stimulus Package Complete
Author: Jerry // Category: Buyer Info, Denver Real Estate, Home Buyer FinancingThe American Recovery and Reinvestment Act of 2009 is expected to be signed by President Obama, in Denver, on Tuesday 2/17. According to the National Assn. of Realtors (NAR), the home buyer tax provisions could stimulate up to 300,000 additional sales by December 1, 2009 when the provisions expire. While the new tax credit falls short compared to other sponsored proposals, it is a maor improvement over the current first time buyer tax credit of $7,500 which required repayment. The new credit effective 1/1/09 allows a credit of up to $8,000 and is not required to be repaid as long as the borrower owns the home for at least 3 years. The Bill also reinstates the 2008 higher loan limits for FHA, Fannie Mae, and Freddie Mac loans.
First time home buyers make up a whopping 41% of all home purchasers.
check out Denver Real Estate here.
Tags: Denver Real Estate, homebuying
April 11th, 2009 at 12:51 am
Finally someone who can write a good blog ! I loved your post and will be telling others about it. Subscribing to your RSS feed now. Thanks
April 19th, 2009 at 6:51 pm
It will be interesting to see how many sales this actually generates.
August 11th, 2009 at 12:46 pm
This stimulus package is bound to provide inventive for the home buyer (especially first-time buyers).
September 2nd, 2009 at 2:39 pm
Hi there, I found your blog on Google while seeking for first aid for a heart attack and your post looks very interesting for me.