Will another round of tax credits for homebuyers in phoenix arizona help?

I think it would help the state , each city , and everyone in the entire home building, home buying , an home selling industry . 1st , it will create some new buzz , and create some job growth.Phoenix has been a war torn area for 3-4 years now , and every positive approach will help.

After a worse than expected falloff in home sales during the month of July, buzz about a possible revival of the federal homebuyer tax credit has begun to surface.

The National Association of Realtors (NAR) reported last week that sales of previously owned homes plummeted 27 percent in July, hitting their lowest mark in 15 years. New home sales also took a dive, dropping nearly 13 percent from June to July.

Both reports were clear indications of the frailty of the housing market post-stimulus. Although, the steep declines were actually considered a by-product of the tax credits themselves, which expired on April 30 – payback for the incentives that pulled sales forward into the spring months.

HUD Secretary Shaun Donovan said on CNN’s “State of the Union” program this weekend, “The July numbers were worse than we expected, worse than the general market expected, and we are concerned. That’s why we are taking additional steps to move forward.”

Donovan said it was too early to say for sure, after only one month’s numbers, whether the administration would revive its popular homebuyer tax credits to give the housing markets another much-needed boost, but he didn’t wholly rule it out as an option.

“All I can tell you is that we are watching very carefully,” Donovan told CNN. “We’re going to be focused like a laser on where the housing market is moving going forward, and we are going to go everywhere we can to make sure this market stabilizes and recovers.”

Two U.S. Senate candidates from Florida, one of the hardest hit states by the housing downturn, spoke out in favor of bringing back the federal tax credits for homebuyers on the CNN program.

Florida Gov. Charlie Crist, who is running as an independent for a Florida Senate seat, said a reinstatement of the homebuyer tax break “would be a great lift” and “would stimulate the economy…[and] increase home sales in Florida.”

“People are hurting, and they’re looking for answers. And that would be a good one. I would absolutely encourage the president to support [another homebuyer tax credit],” Crist told CNN.

When asked if he was also onboard with renewing the homebuyer tax credit incentive, U.S. Rep. Kendrick Meek, a Democrat running against Crist for the Senate seat, replied “Absolutely.”

Can you imagine how quick the homebuying engines will rev up, with another round of credits? Phoenix will not fall into the seller carry homes in phoenizx arizona capital of the world .

Posted by robert highsmith on 08/31/2010 09:18 AM Comments (0) phoenix seller carry, scottsdale arizona owner financing, creative financing Edit Delete

0 Comments on WILL another tax credit for phoenix arizona homebuyers help the state ?

Notify me of new comments:

Leave a response…
Comment:

robert highsmith

Phoenix, AZ

More about me…

west usa realty

Address: 7047 e greenway parkway #180 , scottsdale , az, 85254

Office Phone: (480) 250-8020

Email Me

Tags activerain (1) active raincamp (1) applications (1) appraisers and mortgage loan originators take down phoenix arizona housing market (1) arizona (18) arizona flunks out on home sales (2) arizona seller financing (1) az (1) buy homes in phoenix (1) call centers (1) condo (1) creative financing (3) dana point (1) downsize (1) falling prices (1) fha fannie mae (1) foreclosure (11) foreclosure homes for sale phoenix (1) foreclosures (4) foreclosure scottsdale (1) foreclosures in phoenix (1) foreclosure under water scottsdalehomes for sale (1) forsclosure (1) glendale (5) golf course homes in scottsdale (1) hard to believe (1) homebuyers (1) home buyers (1) homes for sale in glendale (1) homes for sale inscottsdale (1) homes for sale phoenix (2) homes for sale phoenix (1) illegal aliens (1) job losses (1) loan modification (3) loan modification loan originators (1) loan modifications (3) loan servicers (1) loss mitigation (1) mediation (1) mesa (4) mesa arizona (1) modification (1) new home sale (1) non loan modification (1) opps realtor walks in on couple making love while showing homes (1) owner carry (1) owner carry homes in phoenix (1) owner carry homes in phoenix (1) owner carry homes in phoenix arizona (1) owner carry phoenix arizona (1) owner carry phoenix arizona (1) owner financing (1) owner financing scottsdale (1) owner will carry (1) phoenix (7) phoenix homes for sale (2) phoenix homes for sale (1) phoenix seller carry (2) racial profiling (1) reductions in mortgages (1) resale home (1) san clemente (1) scottsdale (10) scottsdale arizona (2) scottsdale arizona owner financing (1) scottsdale arizona owner financing (1) scottsdale homes for sale (2) scottsdale phoenix glendale mesa arizona first time buyer tax credit homebuying (1) scottsdale seller financing (1) seller carry (1) seller carryback (1) seller carry back default (1) seller carry homes in phoenix arizona (2) seller carry owner carryback no qualifying homes in phoenix (1) seller carry owner carryback no qualifying homes in phoenix (2) seller carry owner carryback no qualifying homes in phoenix scottsdale glendale mesa arizona (1) seller finacing in phoenix (2) seller financing (4) seller financing homes in phoenix (1) seller financing homes in scottsdale arizona (1) seller financing in phoenix (3) seller financing phoenix (1) seller financing phoenix arizona (6) seller financing phoenix arizona raincamp (1) shadow inventory debt (1) short sale (1) short sale downpayment (1) short sale health care (1) short sale jokers again (1) short sales (1) short sales owner carry seller financing (1) short sales scottsdale home sales (1) sorry i am only the 911 realtor messenger (1) underwater (1) will the owner carry creative financing seller carry backs come back into the karkets (1) will the owner carry creative financing seller carry backs come back into the markets (1) wordpress (1) workout package (1) workout plan (1)
Links [add/remove]
——————————————————————————–

•blogger.com
••hellotxt.com
•twitter.com
•linkedin.com
•wordpress
•facebook
•creativeazfinancing

Archives
——————————————————————————–

•August 2010 (14)
•July 2010 (1)