Thursday, February 19, 2009
Wednesday, February 18, 2009
Housing - The Economic Stimulus Package
Greetings from Hayward, WI home of the American Birkebeiner!
The race is on and town is already buzzing with folks, so be sure to join in the fun and festivities. For the schedule go to: http://www.birkie.com/
Well, President Obama and Congress did it; he signed the $787 billion economic stimulus package into law on Feb. 17; it contains elements that will bolster housing and the economy, that according to National Association of Home Builders Chairman, Joe Robson.
Let's hope this will help to put housing and the economy on the right track; the reports on new house starts has sure been gloomy.
Chief among the housing package is an $8,000 first-time home buyer tax credit for qualified home purchases in 2009. The tax credit does not have to be repaid and is fully refundable. This will remain in effect until Dec. 1, 2009; this should help motivate consumers to utilize it during the critical summer and fall home-buying months.
You can find more information on the first-time home buyer tax credit at http://www.federalhousingtaxcredit.com/.
According to the NAHB, the legislation will also help home borrowers by restoring the higher 2008 FHA, Fannie Mae and Freddie Mac loan limits through the end of this year. The limit will return to $729,750 from the current $625,500 in the highest cost markets. It will also rise in many other areas because the 2008 maximums were based on a more generous formula and, for most areas, higher median prices.
Time will tell whether these initiatives help move things in the right direction.
We have much to be grateful for despite all the difficulties; take care and keep the faith.
Life is a Gift...Live It!
Gary Nathan
Amanda Mavis
Woodland Dev & Realty
15617 Railroad St
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
http://www.garynathan.com/
The race is on and town is already buzzing with folks, so be sure to join in the fun and festivities. For the schedule go to: http://www.birkie.com/
Well, President Obama and Congress did it; he signed the $787 billion economic stimulus package into law on Feb. 17; it contains elements that will bolster housing and the economy, that according to National Association of Home Builders Chairman, Joe Robson.
Let's hope this will help to put housing and the economy on the right track; the reports on new house starts has sure been gloomy.
Chief among the housing package is an $8,000 first-time home buyer tax credit for qualified home purchases in 2009. The tax credit does not have to be repaid and is fully refundable. This will remain in effect until Dec. 1, 2009; this should help motivate consumers to utilize it during the critical summer and fall home-buying months.
You can find more information on the first-time home buyer tax credit at http://www.federalhousingtaxcredit.com/.
According to the NAHB, the legislation will also help home borrowers by restoring the higher 2008 FHA, Fannie Mae and Freddie Mac loan limits through the end of this year. The limit will return to $729,750 from the current $625,500 in the highest cost markets. It will also rise in many other areas because the 2008 maximums were based on a more generous formula and, for most areas, higher median prices.
Time will tell whether these initiatives help move things in the right direction.
We have much to be grateful for despite all the difficulties; take care and keep the faith.
Life is a Gift...Live It!
Gary Nathan
Amanda Mavis
Woodland Dev & Realty
15617 Railroad St
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
http://www.garynathan.com/
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