Feb 10th	What is the Status of the Current Tax Credit Provisions for Home Buyers being Debated Between The House and Senate?
2009	Categories: Buyer's Resources & Advice

Here is good visual of the latest version of the tax credit proposal being debated on Capital Hill for home buyers.

source: Wall Street Journal

Any thoughts on what you think would be the best scenario?

For information in general on Santa Barbara Real Estate, Montecito Real Estate and/or our surrounding areas, as well as any other aspects of life in our area, please don’t hesitate to contact Kevin Schmidtchen at Sotheby’s International Realty.   

Further Reading:

1. First Time Home Buyers Get Upbeat News from Stimulus Package
2. Is My Realtor a Santa Barbara Neighborhood Specialist?
3. Santa Barbara Real Estate Market Statistics
4. Santa Barbara Real Estate – General News
5. Santa Barbara – The Oceanfront Areas
6. Santa Barbara – Community Events
7. Santa Barbara Luxury Real Estate
8. The Hope Ranch Neighborhood – Information and Statistics

Thank you for reading.  I hope you find Santa Barbara Real Estate Voice informative.  Please feel free to contact me or comment below with any thoughts. 

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Tags: 2009 tax credit home buyers, first time home buyers tax credit

This entry was posted on Tuesday, February 10th, 2009 at 1:07 am and is filed under Buyer's Resources & Advice. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.

1. Mark Brown said at February 10th, 2009 at 2:45 am

   The US federal government imposes a progressive tax on the taxable income of individuals, corporations and partnerships. There are a few state governments that also impose income taxes. Since US tax law is not that easy to understand, you will likely need to take the services of a tax specialist.

2. Chris said at February 10th, 2009 at 10:35 am

   FOR THOSE WHO BOUGHT IN JANUARY:
   THE HOUSE PASSED THE BILL FOR A $7500 TAX CREDIT THAT DOESN’T NEED TO BE REPAID AND IS AFFECTIVE FOR PURCHASES OF HOMES AFTER 01/01/09.
   THE SENATE CHANGED IT TO A $15,000 TAX CREDIT BUT IT IS ONLY AFFECTIVE FOR PEOPLE WHO PURCHASES AFTER IT’S SIGNED.
   IF THE SENATE PASSES THERE’S TODAY, THEN THERE WILL BE A MEETING BETWEEN MEMBERS OF THE SENATE AND MEMBERS OF THE HOUSE TO WORK OUT THE DIFFERENCES BETWEEN THE 2 BILLS.
   I BOUGHT IN JANUARY SO I OBVIOUSLY WANT THE $15,000 TAX CREDIT THE SENATE PROPOSED BUT WITH THE START DATE THE HOUSE PROPOSED.
   YOU NEED TO MAKE YOUR VOICE HEARD AND CONTACT YOUR SENATORS AND HOUSE REPRESENTATIVE. THIS IS AMERICA SO YOUR VOICE IS YOUR POWER. E-MAIL THEM OR CALL THEM. HERE IS A CONVENIENT NUMBER. CALL AND ENTER YOU ZIP CODE AND IT WILL GET YOU IN CONTACT WITH ALL OF YOUR CONGRESSMEN. DECISIONS ARE BEING MADE, DO IT NOW. 1-866-924-NAHB (6242)

3. Kevin said at February 11th, 2009 at 2:50 am

   Mark and Chris

   Thanks for both perspectives on this credit that is upcoming. As the Bill is still not passed 100% from what I understand, it will be interesting to see where we are in a few weeks.

   take care

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