The proposed economic relief package was approved by the Senate, as the New York Times reported here.
In the real estate industry, the biggest questions remain about whether the proposed $15,000 home buyers tax credit will stay as it was initially proposed, or change. Real estate professionals are also eager to see the exact details behind the proposal.
Details are still sketchy as new information is being released. I will keep you updated on new home buyers tax credit information I can find, as well as the feedback I receive from real estate brokers and agents around the country that I speak with. Last week I posed the question: Will the proposed $15,000 home buyers tax credit help the real estate industry? Most of the feedback I received from real estate professionals about the tax credit was positive.
This morning, a Florida broker expressed to me his favor toward the home buyers tax credit, as the median home prices in his real estate brokerage's region have dropped enough that the proposed $15,000 tax incentive should have a major impact. It may have had less of one, he said, if home prices were still at pre-2006 levels.
A broker in Illinois expressed similar ideals to me yesterday, stating that she expects the market to have a solid rebound if the home buyers tax credit is passed, but if it didn't, she joked, "we may be looking for jobs outside of the real estate industry!"
Questions, comments, opinions? Contact Sean Cutright at scutright@deltagroup.com.
0 comments:
Post a Comment