August 1st, 2008 
Jennifer Mackay 
Per an article published by FAR (FLORIDA ASSOCIATION OF REALTORS®):
New law gives first-time buyers $7,500 tax credit…
Tell first-time homebuyers it’s time to commit: A provision of the recently-passed federal housing recovery bill gives first-time buyers an interest-free loan of up to $7,500 in the form of an income tax credit.
The credit equals 10 percent of a home’s cost up to $7,500, and applies to any single-family residence (including condos and co-ops) to be used as a buyer’s principal residence.
Other news
Freddie Mac reported Thursday that the nationwide average for 30-year mortgages dipped to 6.52 percent this week, down from 6.63 percent last week.
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I found your blog on MSN Search. Nice writing. I will check back to read more.
Eric Hundin
Welcome Eric and thanks for the kind words.
Hi Jennifer,
I was curious what your take is on the $7,500 tax credit. Is it truely a good deal or is it neutral and meaningless?
Also curious whether you think the federal government shoul have done more?
Thanks
James,
IMO, while a step in the right directions I believe it to be too little too late.
It is a temporary ‘loan’ and should be extended well into next year.
I believe our elected officials could have done more and provided buyers significantly more incentives.
Thanks for your comments.