[quote author="Anonymous" date=1244681168][quote author="Mazy" date=1244524867][quote author="Adam Ginsberg" date=1244520284]My only frustration with the recent $8k tax credit is the simple fact the .gov is <strong>only</strong> looking at first time home buyers. My TX home sale in Feb, and eventual home purchase in CA (date TBD) will generate more revenue than a first time home buyer.
<strong>ANY</strong> home buyer should be eligible for the tax credit.</blockquote>
Ha! I wish <strong>ANY NEW</strong> home buyer would have been eligible to begin with! Any buyer (new or old) looking for anything with a price tag of $700k or more (which currently buys you a very small and modest SFR in Irvine by any standards) is out of luck, since the household income should normally be above $170k to justify that purchase price and you get <strong>$0</strong> of this tax credit at that income level. This thing was never supposed to help out people in overpriced markets like Irvine anyway, just as many other programs like loan modifications, etc do not apply here.</blockquote>
Senate Renews Push to Expand Homebuyer Tax Credit to $15,000
<A href="http://www.bloomberg.com/apps/news?pid=20601087&sid=alfbV3LXPE_E">http://www.bloomberg.com/apps/news?pid=20601087&sid=alfbV3LXPE_E</A>
Senator Johnny Isakson, a Georgia Republican, plans to introduce a bill today that increases the tax credit to $15,000 and removes income and other restrictions on who can qualify for the credit, according to his spokesman, Sheridan Watson.</blockquote>
Geez-not only are the extending it, they are expanding it greatly. Too bad it's not retroactive. Looks like it has a good chance to pass the Senate-wonder if the House will follow.