The surge in first-time homebuyer
demand, and the decline in overall purchases, was driven by supply-demand imbalances in today's housing market," Liu said in a statement.
Together, these developments hold the potential to unleash first-time homebuyer
CPG has identified the first-time homebuyer
market as one of the two allied real estate segments for its business expansion, with the other being leisure and tourism.
In this case, the Tax Court held that a taxpayer who acquired his first home from a family trust was not eligible for the first-time homebuyer
credit under IRC Section 36(c)(5), because he purchased the home from a related person.
A house that a married couple continued to use while trying to sell it was their principal residence during that period; therefore, they did not meet the timing requirement to qualify for an $8,000 first-time homebuyer
credit when they purchased a new house, the Tax Court held.
6111 general interest rules applicable to overpayments of tax apply to the first-time homebuyer
Can the expiring first-time homebuyer
tax credit bring this moribund market back to life?
In anticipation of the looming first-time homebuyer
tax credit expiration, home builders are hedging their bets on speculative construction in the hopes that the extended April 1 deadline will incite a frenzy of last-minute purchases.
In November 2009, President Obama signed a new bill to extend and expand the first-time homebuyer
Mortgage broker Fred Chamberlin hopes to give Eugene-Springfield an economic infusion by claiming $1 million in federal stimulus money - one first-time homebuyer
at a time.
According to the IRS Website, a first-time homebuyer
is anyone who has not owned a primary residence in the three years before the home purchase.
But skeptics counter that Los Angeles, state and federal governments already fund Section 8 rental assistance, low-income housing subsidies and first-time homebuyer