The $8,000 first-time homebuyer tax credit has effectively guided the stabilization and initial recovery of the national and regional housing market. According to the National Association of REALTORS®, this program has brought over 1.2 million new buyers into the housing market- 350,000 of whom would not have purchased a home without the financial incentive. Nearly 40,000 Tennessee residents have purchased a home using the $8,000 first-time homebuyer tax credit.
This tax credit will expire on December 1, 2009. To be eligible, a buyer must find a home, secure financing, and go to closing by November 30. Accomplishing these tasks before the deadline could prove difficult, especially when you consider the increased delays being experienced in today’s market.
The Williamson County Association of REALTORS® encourages its members to contact their elected officials in Washington DC and request their support to extend and expand the $8,000 first-time homebuyer tax credit.
Source: Williamson County Association of REALTORS' Action Center
Everyone needs to contact their Congressman and Senator to extend the tax credit! In addition the tax credit should be for all home buyers.
Congress and Senator Websites
James (Jim) Pewitt
Affiliate Broker
Exit Realty King&Associates
5024 Spedale Ct
Spring Hill, TN 37174
(615) 278-9403
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