{"id":10082,"date":"2009-10-14T18:23:39","date_gmt":"2009-10-15T01:23:39","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=10082"},"modified":"2009-10-14T18:23:39","modified_gmt":"2009-10-15T01:23:39","slug":"estimate-to-extend-the-home-buyer-tax-credit-167-billion-what-a-bargain","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/10082\/estimate-to-extend-the-home-buyer-tax-credit-167-billion-what-a-bargain\/","title":{"rendered":"Estimate to extend the Home Buyer Tax credit? 16.7 Billion What a Bargain!"},"content":{"rendered":"

I was passed along an article today from the WSJ discussing the cost to extend the $8,000 tax credit and to open it to all people purchasing a home would cost $16.7 Billion according to congressional analysts.<\/p>\n

The article goes on to state that this is less than expected and could help generate momentum to continue the credit and extend it until June 30th<\/sup> 2010.<\/strong> Wow! That’s only $78,773,585 dollar a day (give or take a million) for the 212 days the extension would be in place. \u00a0Additionally this would extend the offer to anyone who wants to buy a home even if it is not their first home. Income limits would be raised to $150,000 for an individual and $300,000 for couples. The senators who are behind this are hoping to attach this to a bill for extending unemployment benefits.<\/p>\n

I’m confused here. How on earth can we have a bill in place to extend both unemployment benefits AND a tax credit for anyone to buy a home?<\/p>\n

I will admit that I was excited when Washington State was trying to work out a plan to loan the $8,000 tax credit to be used as a down payment. I rushed out and registered a domain name and had visions of more business than I could possibly handle. What happened though really has changed the way I look at the tax credit. First Washington State was not able to find a way to lend the money for use as a down payment.\u00a0 Second the people that found my site on the tax credit advance were not qualified to buy with or without a tax credit. AND they were upset that it was only $8,000<\/strong> and had to be repaid.<\/strong> Not a single person I spoke with was in a position to buy a house. Every person was looking for a hand out not a hand up.<\/p>\n

Since this awakening I have been slowly building more and more momentum to suggest to my fellow Realtors that the $8,000 tax credit should be allowed to end at midnight November 30th<\/sup> 2009. Any extension is so expensive that Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

I was passed along an article today from the WSJ discussing the cost to extend the $8,000 tax credit and to open it to all people purchasing a home would cost $16.7 Billion according to congressional analysts. The article goes on to state that this is less than expected and could help generate momentum to […]<\/p>\n","protected":false},"author":59,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[251,5],"tags":[],"class_list":{"0":"post-10082","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-big-mother","7":"category-real-estate","9":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":10182,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/10182\/please-do-not-extend-the-8000-tax-credit\/","url_meta":{"origin":10082,"position":0},"title":"Please do NOT extend the $8,000 tax credit","author":"Robert Worthington","date":"October 28, 2009","format":false,"excerpt":"If you are on the far left, there is no need to read any further, for what I am going to say, is from a capitalist \"conservative\" mindset (which only means to left wingers that...I must be a hate monger for not wanting to extend the first time home buyer\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/general\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5554,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/5554\/nar-promotes-housing-stimulus-plan\/","url_meta":{"origin":10082,"position":1},"title":"NAR Promotes Housing Stimulus Plan","author":"Dave Phillips","date":"November 12, 2008","format":false,"excerpt":"Here is a fresh bone for Bloodhounds to chew on.\u00a0 This 4-point stimulus plan was approved by the NAR Board of Directors this past Monday and is being pushed heavily in Washington DC.\u00a0 The National Association of Realtors\u00ae will offer a four-point legislative plan to reinvigorate the housing market, calling\u2026","rel":"","context":"In "Big Mother"","block_context":{"text":"Big Mother","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/big-mother\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":10225,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/10225\/congress-extends-and-expands-the-home-buyers-tax-credit\/","url_meta":{"origin":10082,"position":2},"title":"Congress extends and expands the home-buyer’s tax credit","author":"Greg Swann","date":"November 5, 2009","format":false,"excerpt":"The Washington Post:Under the housing program, people seeking to own a home for the first time in three years would receive an $8,000 tax credit if they sign a contract by April 30 and close on it by June 30. Current homeowners who are buying a new primary residence would\u2026","rel":"","context":"In "Big Mother"","block_context":{"text":"Big Mother","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/big-mother\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":10168,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/10168\/the-bad-news-tens-of-thousands-of-people-including-irs-agents-and-including-at-least-one-four-year-old-fraudulently-claimed-the-8000-first-time-home-buyers-tax-credit-the-good-news-when-these\/","url_meta":{"origin":10082,"position":3},"title":"The bad news: Tens of thousands of people, including IRS agents and including at least one four-year-old, fraudulently claimed the $8,000 first-time home-buyer’s tax credit. The good news? When these morons take over your health care, you’ll probably die before you suffer too terribly much…","author":"Greg Swann","date":"October 25, 2009","format":false,"excerpt":"From Politics Daily, the you-just-can't-make-this-shit-up section:Four-year-olds are adorable, trustworthy, and, having never owned a home before, fully eligible for the first-time homebuyer tax credit that Congress passed in 2008. As a result of that loophole and numerous faulty reporting mechanisms, a House panel learned Thursday of tens of thousands of\u2026","rel":"","context":"In "Big Mother"","block_context":{"text":"Big Mother","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/big-mother\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4520,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4520\/how-wall-streets-meltdown-helps-main-streets-housing\/","url_meta":{"origin":10082,"position":4},"title":"How Wall Street’s Meltdown Helps Main Street’s Housing","author":"Sean Purcell","date":"September 19, 2008","format":false,"excerpt":"Just for fun, let's imagine a possible silver lining to the complete melt down on Wall Street.\u00a0 In this scenario, the next big shoe to drop will be access to consumer debt.\u00a0 No one is going to extend car loans, credit card debt, retail debt and so on.\u00a0 But this\u2026","rel":"","context":"In "Casual Friday"","block_context":{"text":"Casual Friday","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/casual-friday\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5990,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/5990\/the-tangled-web-of-tarp\/","url_meta":{"origin":10082,"position":5},"title":"The Tangled Web of TARP","author":"Brian Brady","date":"December 9, 2008","format":false,"excerpt":"It's deja vu, all over again. Republic Window and Door announced it would be closing its doors next month.\u00a0\u00a0 Republic lost over $5 million YTD and $12 million in 2006 and 2007.\u00a0 Bank of America suspended its line of credit.\u00a0 Faced with the prospect of going it without any money,\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/10082","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=10082"}],"version-history":[{"count":2,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/10082\/revisions"}],"predecessor-version":[{"id":10084,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/10082\/revisions\/10084"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=10082"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=10082"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=10082"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}