Housing Market Gets Tax Credit Payback

Reader Comments
Back to blog

http://mahermuhawieh.gather.com

mahermuhawieh of CA 6:33AM June 22, 2010

To the last 2 commentators above (I would bet its the same person), how ironic it is that you have labeled your comment "use your brain" but your comment seems thoughtless.
What are you talking about? $30-$50 dollars subtracted from $8000.00 is still quite a bit of money. Maybe you didn't punctuate correctly and really mean 30k-50k, but I don't know of any buyer paying above market price in TX to get the 8k tax credit.
Seems like you either overpaid for your house and are mad or you got taken advantage of :(

Ali of TX 2:20PM March 15, 2010

Only the SEllers are getting the @8.000 tax credit, why ? People are paying $30 to $50.000 more than the asking price, it's cross bidding whomever has the highest bid get the deal , but it"s showing right there that the tax credit was taken away from you so you ended up not benefitting from that $8.000 tax crdit if you are willing to pay $50.000 more over the asking price.

Robin of AR 3:39AM February 28, 2010

I don't know why buyers think they can use that $8,000 tax crdit at all, here is why buyers paying $30 to $50.000 over the asking price even though the appraiser told them the value of the homes below the market value. Here is the truth the seller is the only one benefitting the $8.000 tax crdit because it's a crossing bid whoever the highest bid wins, but they are paying more than what the house is worth , and i think that is redicolous they giving that tax credit to the sellers by adding more that the appraiser's qouted for. USE YOUR BRAIN 11111

Melvin of CO 3:29AM February 28, 2010

I sure hope Leanne of CA doesn't lose her source of income or become ill with something her insurance doesn't cover. Then SHE TOO will become one of those who has MORE HOUSE THAN SHE CAN AFFORD!

jj of WI 9:17AM January 27, 2010

10% of $250,000 is $25,000 not $2,500...

Josh of WA 4:14PM January 24, 2010

Leanne of CA: Your tax credit will be 10% of the home's purchase price, up to $8,000. That means you can buy a house for as little as $80,000 not $800,000 to get the maximum credit. Your $250,000 home purchase will qualify you for the $8,000 credit.

Mr.House of NC 3:13PM January 21, 2010

You have to buy an $800,000 house to get $8,000 in tax credit! Actual credit is 10% of the homes' purchase price. I'm buying a $250,000 house and will be receiving $2,500 if escrow closes by the end of June. It's not such a great deal as getting $8,000 back but it's better than nothing.
Alot of people are homeowners right now that shouldn't have been allowed to be and they have more house than they can afford. If you can't scrape together enough for a down payment what makes you think you can keep up with bi-yearly property tax payment and the inevitable repair costs that come with home ownership.
You need to have a seperate savings account in case something goes wrong or you'll fall behind and start defaulting on payments --- thus the vicious cycle continues!
Home ownership is a privledge not a right.

Leanne of CA 9:37AM January 21, 2010

We must always be vigilant in whatever purchase we do.
Tracy, Velocity Fulfillment

Tracy2010 of CA 6:47PM January 14, 2010

my question is if i have a good credit ...just good not excelent. and i want to but a house in florida broward or miami-dade value of 130k max. im thinking to apply for the first time buyer tax credit, im not sure is the use gove. will expand to $15,000 but what i want to know is, if i dont have money to give a down payment the $8000 or the $15,000 can be the down payment for the house????? or i need to buy the house and them i will receive the money, because my fiend buy a house in CA 170k no down payment and after 2 months they received the $8000.... that was last year,.....but my question is if the usa is helping us to buy a home with money how people who doesnt have 10,000 or 20,000 for the downpayment how we can buy a house, thats why i ask, if we want to buy a house can we use the money of the buyer tax credit for the downpayment?????

carolina of FL 9:03PM January 10, 2010