$15,000 homebuyer tax credit -anyone have the details?

[coastal]

$15,000 homebuyer tax credit

I saw this at http://www.inman.com/news/2009/02/10...ing-incentives

So is this for real? Has it really gone through?
Do people have to do anything special to qualify?

If this is the real deal it may be all I need to get a few potential buyers off the fence.

[satxproperty]

Until President Obama signs it into law, it isn't anything yet.

It is part of the Stimulus Bill, that both houses haven't agreed on yet.

It is still subject to change.

[metaylor9]

It is looking like it going to pass, but who knows. I just had 2 buyers delay closings in hopes of this passing. I know there are better resources out there but the NAHB has together this snapshot: federalhousingtaxcredit com/

[Micheal Pannell Realtor]

The have wiped it out of the new bill, it will not be part of the bill

Working to accommodate the new, lower overall limit of the bill, negotiators effectively wiped out a Senate-passed provision for a new $15,000 tax credit to defray the cost of buying a home, these officials said. The agreement would allow taxpayers to deduct the sales tax paid on new car purchases, but not the interest on loans for the same vehicles.

http://www.msnbc.msn.com/id/29136678

[satxproperty]

Should have known $15,000 tax credit wouldn't have made it, that is a position the Republican's agreed with.

[jamesww]

The 15,000 wasn't that great for the little guy anyways. It was capped at whatever the tax payer paid in. So, making the 7,500 not have to be paid back is a much larger bonus than the 15K was as most that have that kind of tax liability don't need the stimulus and they already have a home they would have to sell first. I am all for it the 15K legislation being eliminated as long as the bill survives making the $7,500 not needing to be paid back.

[Micheal Pannell Realtor]

A $15,000 tax credit for anybody buying a home over the next year was dropped; instead, first-time homebuyers could claim an $8,000 credit for homes bought by the end of August. Car buyers could deduct the sales tax they paid on a new car but not the interest on their car loans.

[MikeNY]

Ah well too good to be true.

[jbferris]

The $15,000 tax credit didn't ever really stand a chance imo but I'm glad to see this settled on an $8,000 tax credit with no repayment. Look forward to this stimulus passing already so we can get back to work!

[satxproperty]

Let's wait to crack open the champagne until it gets signed into law by the President.