Zillow Advice: Buying Process - Did the 1st Time Home Buyer Credit Help of Hurt? http://www.zillow.com/advice-thread/Did-the-1st-Time-Home-Buyer-Credit-Help-of-Hurt/362691/ Zillow Advice | Zillow Real Estate It was great for the time ... http://www.zillow.com/advice-thread/Did-the-1st-Time-Home-Buyer-Credit-Help-of-Hurt/362691/ It was great for the time it lasted.&nbsp; It caused a momentary decline in transactions, and I think we have moved beyond it.&nbsp;&nbsp;&nbsp;&nbsp; Wed, 30 Mar 2011 00:01:00 GMT http://www.zillow.com/advice-thread/Did-the-1st-Time-Home-Buyer-Credit-Help-of-Hurt/362691/ 2011-03-30T00:01:00Z jdsdaddy:I'm pretty far from ... http://www.zillow.com/advice-thread/Did-the-1st-Time-Home-Buyer-Credit-Help-of-Hurt/362691/ jdsdaddy:<br/><br/>I'm pretty far from corruptable, at least not from standard influences. I'm willing to accept that alternate realities to my own exist if someone makes a compelling point. <br/><br/>There are trade-offs made in politics all the time - and it isn't always bad since it is how nearly anything moves forward. However, it seems like most politicians these days roll like they are beholden to short-term shareholder interests like corporations...instead of considering the unfortunate blowback that often follows decisions where long term consequences were not properly mulled. BUT...I also spent about 8 years as a city official, in a small town, where people turn&nbsp;criticizing the work of volunteers into their hobby. It&nbsp;was an excellent lesson in unintended consequences. <br/><br/>People in glass houses shouldn't throw stones at all, but those throwing stones should have better aim :) Mon, 23 Aug 2010 00:44:00 GMT http://www.zillow.com/advice-thread/Did-the-1st-Time-Home-Buyer-Credit-Help-of-Hurt/362691/ 2010-08-23T00:44:00Z Well it helped but only in ... http://www.zillow.com/advice-thread/Did-the-1st-Time-Home-Buyer-Credit-Help-of-Hurt/362691/ Well it helped but only in the short term IMO Mon, 23 Aug 2010 00:42:00 GMT http://www.zillow.com/advice-thread/Did-the-1st-Time-Home-Buyer-Credit-Help-of-Hurt/362691/ 2010-08-23T00:42:00Z Tiffany, for a real estate ... http://www.zillow.com/advice-thread/Did-the-1st-Time-Home-Buyer-Credit-Help-of-Hurt/362691/ Tiffany, for a real estate agent that's also studied law, you're not so bad.&nbsp; Glad to see those influences haven't corrupted you...yet. Mon, 23 Aug 2010 00:32:00 GMT http://www.zillow.com/advice-thread/Did-the-1st-Time-Home-Buyer-Credit-Help-of-Hurt/362691/ 2010-08-23T00:32:00Z Although Obama is not exclusively ... http://www.zillow.com/advice-thread/Did-the-1st-Time-Home-Buyer-Credit-Help-of-Hurt/362691/ Although Obama is not exclusively to blame for the housing debacle, I think it's a far cry to call him free from responsibility. His efforts haven't been particularly well thought out or effective...<br/><br/><a href="http://www.washingtonpost.com/wp-dyn/content/article/2010/08/20/AR2010082005643.html" rel="nofollow">http://www.washingtonpost.com/wp-dyn/content/article/2010/08/20/AR2010082005643.html</a>&nbsp;<br/><br/>He has also done a bang-up job of advocating for diminishment of contract law (a la taxing bonuses of executives as a punishment for the government not performing due diligence on existing contracts before doling out bailouts). <br/><br/>Furthermore, the whole, shared responsibility concept of making everyone collectively accountable for poor choices (like with bail outs, healthcare legislation, etc) discourages people from taking responsibility for individual actions and increases the likelihood that the system will further degrade. Mon, 23 Aug 2010 00:20:00 GMT http://www.zillow.com/advice-thread/Did-the-1st-Time-Home-Buyer-Credit-Help-of-Hurt/362691/ 2010-08-23T00:20:00Z Those who bought only to ... http://www.zillow.com/advice-thread/Did-the-1st-Time-Home-Buyer-Credit-Help-of-Hurt/362691/ Those who bought only to get the free money soon found that they could have bought the same house cheaper if they had just waited.<br/><br/>Imagine what they will find out when they look back in another year or 2. Sun, 22 Aug 2010 21:36:00 GMT http://www.zillow.com/advice-thread/Did-the-1st-Time-Home-Buyer-Credit-Help-of-Hurt/362691/ 2010-08-22T21:36:00Z It moved sales to earlier ... http://www.zillow.com/advice-thread/Did-the-1st-Time-Home-Buyer-Credit-Help-of-Hurt/362691/ It moved sales to earlier in the year.&nbsp; What I think is needed is some incentive for move-up buyers.&nbsp; That would have a double effect on listings and sales. Sun, 22 Aug 2010 20:28:00 GMT http://www.zillow.com/advice-thread/Did-the-1st-Time-Home-Buyer-Credit-Help-of-Hurt/362691/ 2010-08-22T20:28:00Z I am not an economist and ... http://www.zillow.com/advice-thread/Did-the-1st-Time-Home-Buyer-Credit-Help-of-Hurt/362691/ I am not an economist and do not have the answers.&nbsp; I do believe the tax credit gave the little guy a break for a change.&nbsp; All of the bail outs went to the banks and the big corporations...whether they should have or not is another question.&nbsp; The tax credit was one way to touch the middle class and let them know they were not toally forgotten in this big mess.&nbsp; <br/><br/>You know we all have clients and I believe my job is not only to make a deal but to educate the people I represent.&nbsp; In this day it is up to us who we represent and how they&nbsp; go into buyng a home..especially if it the first time.&nbsp; It all comes back on us as realtors.&nbsp; More than the tax credit buyers who are learning what it like to be a home owner we have to take into account all those BIG MORTGAGE BUYERS who are walking away from their mortgages because they know they will never get what they owe on the house. So they go and buy another house that they can afford and afterwards walk from the big one.&nbsp; The banks have showed us how to do that, too.<br/><br/>There is soooo much blame to go around.&nbsp; We can be part of the problem or the solution.&nbsp; One thing we shouldn't do is blame OBAMA.&nbsp; He can't fix it and he didn't cause&nbsp; it.&nbsp; The process needs to take it's course. <br/> Sun, 22 Aug 2010 20:16:00 GMT http://www.zillow.com/advice-thread/Did-the-1st-Time-Home-Buyer-Credit-Help-of-Hurt/362691/ 2010-08-22T20:16:00Z I can say it certainly encouraged ... http://www.zillow.com/advice-thread/Did-the-1st-Time-Home-Buyer-Credit-Help-of-Hurt/362691/ I can say it certainly encouraged many to buy.<br/>&nbsp;As far as hurt, i do not think so considering that liars loans are off the table. Sun, 22 Aug 2010 04:21:00 GMT http://www.zillow.com/advice-thread/Did-the-1st-Time-Home-Buyer-Credit-Help-of-Hurt/362691/ 2010-08-22T04:21:00Z That depends on who you are ... http://www.zillow.com/advice-thread/Did-the-1st-Time-Home-Buyer-Credit-Help-of-Hurt/362691/ That depends on who you are referring to.&nbsp; It helped agents as it artifically sparked the market and got people off the fence.&nbsp; Time will tell if it hurt buyers, but all indications are prices are going to go down further.&nbsp; Tehre is not doubt that the credit helped sell properties as when the credit expired home sales in the San Fernando Valley dropped more than 20%.<br/><br/>Simon Mills<br/>Mills Realty Sat, 21 Aug 2010 22:18:00 GMT http://www.zillow.com/advice-thread/Did-the-1st-Time-Home-Buyer-Credit-Help-of-Hurt/362691/ 2010-08-21T22:18:00Z