You may have read on this very blog about the potential $15,000 tax credit that Congress has been working on.  It’s created quite a buzz for home buyers everywhere.  Well, most likely that buzz has been killed.

The latest word on the Stimulus Bill is that the $15,000 home buyer tax credit will either be eliminated or reduced to a $8,000 credit.  Also, it may only apply for first time buyers (much like the current $7,500).  Will it have to be repaid?  At this point no one knows for sure, but my guess is that the answer will ultimately be no.

The past week has provided us with much speculation on what will happen.  The bottom line is that there is no way to know until the bill is signed by President Obama, which will most likely happen within the next week.  Until the ink has dried, I’m going to try to stop thinking about it.  It’s giving me a freaking headache!

Article by W. Cody Robinson, Owner/Buyer Specialist, North Texas Home Finders

Contact Cody at 972.365.0432 or Cody@NorthTexasHomeFinders.com

Get a Buyer Specialist and rest easy! The builder pays our service charge from their advertising budget which is built into every home they sell. Since these fees do not come out of the home construction budget, you cannot negotiate one penny of a better deal alone.  We also work with preowned homes where the seller pays our fees!  Visit www.northtexashomefinders.com for more information.