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Existing Homes Sales Continue Rebounding in the Orlando New Home Market
September 28th, 2009 1:51 PM
More than 1.4 million first time home buyers have already claimed their $8,000 homebuyer tax credit, according to the Internal Revenue Service. That’s grand news. The tax credit has boosted sales of recently built, single-family homes edge up for the past five months. But with the credit set to expire December 1, forecast for being able to purchase a newly built home and have that transaction completed in time are dimming. That’s why I’ve encouraged all Florida Home Builders Association members to call on Congress to extend the credit in order for upbeat thrust in home sales to continue and so that a continued housing and economic recovery can take hold. Home builders throughout the country are calling on Congress to not only extend the tax credit, but to offer it to all income-eligible buyers of primary residences. Not only will extending the tax credit allow more people to achieve the American dream of home ownership, it will help put more than 20,000 people to work in Florida alone. As a reminder, to be eligible for the first time home buyer tax credit, eligible home buyers must purchase the home before December 1, 2009. That means that the last day to close on a home is November 30. The credit cannot be claimed until after the purchase is completed. For buyers that meet the deadline, they will have the option of claiming the credit on their 2008 returns or waiting until next year and claiming it on their 2009 returns. For details on claiming the credit, see Form 5405, First-Time Homebuyer Credit. Meanwhile, please join me and the National Association of Home Builders to urge Congress to extend the tax credit.
Posted by Jon Swanson on September 28th, 2009 1:51 PMPost a Comment (0)
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