Tax Credit for New Home Buyers
(From Nation's Building News)
Prospective first-time home buyers who have been sitting on the fence now have a significant financial incentive to explore the opportunities available in today’s housing market.
H.R. 3221, the Housing and Economic Recovery Act of 2008 — which was passed by the Congress on July 26 and signed by President Bush on July 30 — allows first-time home buyers to take a $7,500 tax credit from the purchase of a single-family home, townhome or condominium apartment.
You can read the rest of the article on Nation's Building News website.
Other Resources
- NAHB has published a Web site for consumers — www.federalhousingtaxcredit.com. The site includes details and questions and answers on how home buyers can use the credit.
- On www.nahb.org/mythbuster, NAHB has posted talking points, print ads, a consumer handout on the “top reasons you shouldn’t wait to buy a new home” and a banner ad for Web sites — all geared to alerting home buyers to the availability of the credit.
