$8,000 Rebate For First Time Homebuyers Continues For One More Year

October 7, 2009
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If you can still remember, there were news saying that the $8,000 rebate for the first time homebuyers will discontinue this coming November but they are once again changing that claim and decided to extend it for one more year.

The $8,000 rebate for first time homebuyers is undoubtedly a successful program and has actually boosted housing sales by a million this year. This rebate is also the reason why housing sales are experiencing an upward trend but if the government decided to discontinue this program, it will surely go the other way. Aside from the positive impact that this $8,000 rebate gives to the housing sales, the other reasons could…

New York Counties With High Property Taxes

June 14, 2009
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Not everyone can have the privilege of living in New York’s well-manicured lawn homes so these streets are always a source of envy. Garden City in New York is just 20 miles east of Manhattan and is populated by as many as 21,672 persons. However, those who live behind these picture-perfect homes are being levied high property taxes.

Residents of Nasau County, which is the fourth highest when it comes to property tax rate, pay 8% of their annual income or an average of $8,153. This is however cheap compared to Little Falls which has the highest property rate in the country. Residents of Passaic County in Little Falls spend 8.8…

$8,000 Home Tax Credit Up For Monetization

May 21, 2009
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The $8,000 tax credit for first time home buyers is partly responsible for the increasing affordability of homes and the corresponding rise in home sales. The real estate scene is expected to get better after Secretary Shaun Donovan of the HUD confirmed that the $8,000 tax credit can now be monetized by first time home buyers through recognized lenders and government agencies.

This was a response to the clamor from consumers for the monetization of the $8,000 federal tax credit instead of being credited to the buyers later on in terms of a check from the IRS. This will allow home buyers to get an additional $8,000 which they can use…

Homeowners To Enjoy $15,000 Tax Break

February 5, 2009
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Homebuyers now have more reason to rejoice despite the worsening economic crisis thanks to the approval of a $15,000 tax break for home buyers.  The Senate approved the bill with the hope of revitalizing the sagging housing industry.  This is considered a Republican victory and was passed without dissent. Some of the bill’s spending provisions however met opposition so the Republicans have no choice but to accept the spending reductions.

The homebuyers tax break bill was advanced by Senator Johnny Isakson with the intention of encouraging the revival of the housing industry which has further resulted to massive unemployment and other economic problems. Last year’s credit crisis has led to the…

Non-Payment Of High Rate Property Taxes Means Trouble

January 15, 2009
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The full-blown crisis in the housing market is starting to be felt and among its indicators is the rise in the number of homeowners who have failed to pay their property taxes. Housing Authority executive director Ken Cole said people who opt not to pay taxes is a sign that they are in trouble. And when you get an increasing trend on non payment of property taxes then that means more trouble.

In California’s Santa Cruz County alone, one out of every ten households is behind in the payment of property taxes. Property taxes are an additional burden to homeowners who are already deep into mortgage problems.

The Housing Authority and other…