President Barrack Obama has extended the first time homebuyer tax credit. The deadline to take advantage of the tax credit is now April 30
th; The President has also expanded the benefits to include any homebuyer wanting to purchase a new house. The only requirement is they have to have lived in their current house for at lease five years, make less than 125 thousand dollars a year, and be purchasing a home less than 800 thousand dollars.
“This created a lot of push for people to go ahead and make a decision, and get off the fence and choose that next home,” says Scott Underwood with Realty South.
Besides this tax credit helping get more people in houses it also helps boost the economy.
“I see there are workers back to work; even in this particular community we are having discussion with our developers because we have a shortage of home sites. We have had discussions with him about bringing on more home sites that we are going to need into this next year to continue this path,” says Underwood.
“Everybody has to buy a refrigerator all sorts of things carpeting get some plumbing done maybe some electrical work well that’s just a trickle down effect for everybody in the economy it’s a good feature,” says financial analyst Bob Straka with Grandview Financial Group.
