Real Estate News Overview:
The current tax credit is scheduled to expire in the fall however, now lawmakers and business are calling for an extension and an expansion from $8k to $15k.

In addition to this increase, the lawmaker request is also attempting to provide this incentive to anyone who buys a house, not just first time home buyers.

Buyers do not have to repay the tax credit if they occupy the home for three years or more.

Real Estate Investor Coach Response:
With the current government budget deficit a major concern to critics and myself included, I may be one to agree that this tax incentive expansion and extension would be a good “jump start” to the housing problem. Frankly, this is a pretty good incentive for anyone even considering purchasing a personal home. Clearly the original $8k incentive didn’t provide the “jump start” the government was hoping for so perhaps $15k will. Only time will tell.

Go back and review a previous blog on how some real estate investors are making money from this tax credit opportunity.

To your Real Estate Investing Success,
Brian Evans

Real Estate News Overview:

A new bill was introduced Thursday by Howard Coble (R-NC) which would allow almost anyone who purchases a principal residence to take advantage of the $8,000 tax credit through the end of 2010.

The proposed bill would also lift the income limitation which currently states that singles earning more than $75k and couples earning more than $150k are disqualified. This would be good news for higher income earners.

The proposed bill also extends the repayment waiver to account for the extended credit availability. Current law states the tax credit does not have to be repaid unless the homeowner sells the property or no longer uses it as a primary residence within 36 months of purchase.

Real Estate Investor Coach Response:

Ok, so what does all this really mean for the creative real estate investor?

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