Senate OKs $15,000 tax break for homebuyers

[Brutus35]

I closed on my house on Dec 30th 2008.

 

[HOLLYWOOD]

Last 10 years of Lobbying CASH to government:

Real Estate $723,411,993

Hmm, coincidence? Nope.. direct correlation to the FOR SALE puppets inside the DC Beltway

Ranked 8th on the money list... but their are systemic tier 2 cash from Insurance/Business sector lobbying which are ranked #2 and #5.

http://www.opensecrets.org/industries/indus.php?ind=F <=== REAL ESTATE/INSURANCE
http://www.opensecrets.org/industries/indus.php?ind=C <=== CONSTRUCTION


http://www.opensecrets.org/industries/indus.php?ind=C02 <=== Home Builder / Residential

 

[Malakai]

What does this mean exactly? My moms is moving, within the next few months. She is dead set on buying so.

If we bid 80k on a home, and the buyer accepts, do we get -15k off the list price back in a tax return, or would there otherwise be additional costs over the 80k offered that we now will not need to pay?

Tax code confuzzles me heh

 

[Jordan]

edit

 

[Jordan]

Its basically a 10% discount on a home up to $150000. So no $15,000 home freebies :-/

 

[ILUVRP]

What a deal! Every house under $15,000 is now free!

I'm doing some shopping

There are houses in Michigan selling for $3,000

You could buy 5 of them.

Its Michigan , the taxes on the 5 will cost you $50,000 a year.

 

[Jordan]

And this deal will be going back to 1 year to the date this stimulus gets passed. So if it gets passed March 1 2009 all purchases after March 1 2008 will qualify!