Paul's Blog: November 2009

A place to learn about Lexington Kentucky and to discover "the New World of Real Estate in Central Kentucky. Paul is passionate building strong, life long relationships. His goal is to make his clients so pleased with his help they will want to introduce him to others they care about. Paul works By Referral Only. This is a safe place to question, discuss and share life authentically.

New Tax Credit, Does it Really limit the $6500 to move up buyers?

What really does the new tax credit do?  Does it give $6500 only to "move up" buyers.  I hope not because in my neighborhood and so many others in Lexington many of the retired residents are more eager to "move down" than move up.  If congress really only gives money to "move up" buyers as suggested in this CNBC article then the congress in my opinion made a blunder in the wording of the bill.  

Our retired home owners deserve the same economic stimulus as other sellers and buyers.  There are so many people in my neighborhood who are in a difficult spot. To continue maintaining a home on their limited income is difficult.  If they could sell and move down to a condo they could invest the equity difference and live in a condo that has little to no maintenance. Moving up is not a choice for many of my retired neighbors.  

Hopefully we will receive clarification quickly and if the wording does imply the buyers have to move up there will be rational people who change the bill.

  

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Comment balloon 2 commentsPaul Campbell Realtor Lexington • November 05 2009 07:31PM
New Tax Credit, Does it Really limit the $6500 to move up buyers?
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