Credit for First-Time Buyers
May 4th, 2009 admin Real Estate Loans 0
Some real estate agents say an $8,000 (approximately) tax credit for first-time home buyers will be provided as part of a special federal incentive plan. It will help stir movement in the property market. The decision came out after first-quarter property sales in St. Louis city and across the county were decline nearly 13% to 2,839 homes, compared with over 3,272 units sold during the first three months of last year.
President and chief operating officer, Jim Dohr for Coldwell Banker Gundaker said “The sweet spot is anything between $100,000 and $200,000,” he added, “There’s no question that the federal government’s tax credit is having an impact, and there are certainly more first-time buyers that are motivated.”
The St. Louis chapter of the National Association of Realtors statistics says the regular worth was $150,356, compared with a standard worth of $175,712 over the first quarter of 2008.
