8000 tax credit category archives

In what has been urged as a must-have by real estate professionals and builders, the $8000 tax credit for first-time home buyers (previously due to expire Nov. 30), has been extended through April 30, 2010, according to the Associated Press. Not only has it been extended, but it has also been expanded to include more [...]

On a 403-12 vote today, the House of Representatives approved a measure to extend the $8,000 first-time homebuyer tax credit, along with a $6,500 tax credit for repeat homebuyers who have lived in their current homes for at least five years. The Senate has already approved the bill, and the President is expected to [...]

Some interesting news about a possible extension of the $8,000 first-time home buyer tax credit came out today, according to CNBC’s Diana Olick. A senate vote could come as early as this week, but the credit may take on a slightly different different form. The plan under consideration is sponsored by Senate Majority Leader Harry Reid and [...]

In case you missed it, Zillow’s COO Spencer Rascoff appeared on Good Morning America this weekend to discuss the latest housing numbers.

According to the National Association of Realtors, existing home sales increased 9.4 percent in September. Spencer discusses how the first-time home buyer tax credit, extremely low mortgage rates, and a plethora of bargains (foreclosure [...]

The General Accountability Office has reportedly frozen more than 110,000 first-time home buyer tax credit refunds pending civil or criminal examinations due to allegations of fraud. The main concerns are whether or not a home purchase actually took place and if the home buyer claiming the credit is technically a first-time home buyer as defined [...]

A Zillow user with the profile name box4040 asks the question on Zillow Advice:
At 62 years old, should I buy a home or keep on renting?
Here’s more from box4040:
I qualify as a first time home buyer having sold my home 5 yrs ago. I have great credit and have a pre-approval letter from a lender.  [...]

Update (10/8/09, 2:30 PM): The U.S. House of Representatives voted unanimously to extend a first-time homebuyers’ tax credit for overseas military members through Nov. 30, 2010. The bill is now headed to the Senate for a vote. We will keep you posted.
*****
Original post:
As the first-time homebuyer tax credit is set to expire on Nov. 30, [...]

Reggie15 asks on Zillow Advice:
“Is our daughter considered a ‘first time home buyer’ for the purpose of the 8,000 tax credit?”

The worried parent continues:
“We purchased a condo six years ago and added our daughter’s name to the deed.  We paid cash for the condo - we paid the homeowners and the taxes, and she [...]

Today we announced the results of a recent survey, which Zillow conducted with Harris Interactive, asking prospective first time homebuyers how an extension of the $8,000 tax credit would influence their decision to buy a home next year.  If the credit were extended, of those who intend to buy a home, 18 percent called the credit the “primary [...]

It’s been a boon for first-time homebuyers, but the $8,000 first-time homebuyer tax credit is set to expire in less than three months. The tax credit is part of a larger economic stimulus package designed to get the economy’s wheels turning again and the months of excess housing inventory off of the market.
With time running [...]