Western Wisconsin Real Estate News
- Wisconsin Home Sales Up in Third Quarter as Median Prices Moderate
- Will the $8,000 First (New) Home Buyer Tax Credit in the 2009 Stimulus Package be Extended into 2010 and Increased to $15,000?
- "Foreclosure Mediation, Relief for the 'Little Guy'"
- Curb Appeal Matters Now More Than Ever, Say Realtors®
- Improvement Coming to Buyer Tax Credit?
- 30-Year Fixed Rate Falls to at Least a 37-Year Low
- "Area Economy Could Start to Rebound in Spring, Experts Say" Shawano Leader (01/11/09) Thornton, Dennis
An extension of the $8,000 U.S. homebuyer tax credit is gaining support in the Senate as bill sponsor John Isakson said he is rallying lawmakers to continue a program that helped boost home sales by more than 1 million. “I’m working the floor now to make everyone aware that the $8,000 credit sunsets” Isakson, a Georgia Republican. His legislation would extend the program through the end of 2010, almost double the credit to $15,000 and remove restrictions that prohibit individuals who already own homes or earn $75,000 - $150,000 for couples - from getting the tax break. The bill, first introduced in June 2009, failed in a 47-50 Senate vote in August.
Even President Obama is reviewing an extenstion of the bill with White House spokesman Robert Gibbs telling reporters today that President's economic team is looking at the tax credit and “evaluating the impact” on new home sales. “Through that evaluation we’ll come to something to give the president a recommendation,” Gibbs said.