Builders Applaud Congress on Extending Home Buyer Tax Credit
A Statement From The Home Builders Association of Alabama
The National Association of Home Builders (NAHB) applauded Congress for passing legislation that will extend and expand the $8,000 first-time home buyer tax credit, stating that this will provide a much-needed boost to the fragile housing market and economy.
“We commend lawmakers for acting in a bipartisan manner to extend the first-time home buyer tax credit beyond its Nov. 30 deadline and expand it to a wider group of home buyers,” said NAHB Chairman Joe Robson, a home builder from Tulsa, Okla. “The tax credit has proven to be a powerful economic incentive. Today’s action by Congress will further stabilize housing and the economy by creating new jobs, stimulating home sales, reducing foreclosures, cutting excess inventories and stabilizing home prices.”
The new law will extend the $8,000 credit for first-time home buyers for sales contracts entered into by April 30, 2010 and closed by June 30. Further, it has been expanded to include a new $6,500 credit for owners of existing homes who are purchasing a new principal residence. An existing home owner can claim the $6,500 tax credit if they have been residing in their principal residence for five consecutive years out of the last eight. Additionally, the income eligibility limits to claim the full credit amount for both groups of home buyers have been raised to $125,000 for individuals and $225,000 for married couples.
NAHB estimates that the extended and expanded home buyer tax credit will create 211,000 jobs and generate 180,000 additional home sales in the coming year. It is also expected to generate $9.6 billion in wage income and $6.9 billion in federal, state and local taxes.
The legislation, which also extends unemployment insurance benefits and offers relief to cash-strapped firms by providing broader tax benefits for businesses with net operating losses (NOLs), is expected to be signed into law shortly by President Obama.
“The new NOL rules will throw a lifeline to struggling businesses, allowing them to continue making payrolls, paying business loans and otherwise keep their doors open until the economic recovery takes hold,” said Robson.
Posted on Nov 11, 2009 | 4:16 PM
Customer Satisfaction Important at Lowder
So you have chosen the area that you want to live in, maybe even the neighborhood. You want a new home, not a fix-it-upper. You know the general floor plan that fits your lifestyle. You want a new home just the way you want it.
Now, who are you going to trust to build your new home? Your home, well, is your home, but real estate is an investment too. You want to make the right choice in the builder that not only builds your home, but that will stand behind it.
A lot goes into choosing a builder for your new home. You have to consider the company’s history, financial stability, whose name is going to be behind your home? You also have to consider things like the timeline for building, availability of options and upgrades, and do they have the resources, the personnel and the expertise to make your home special?
That’s why building with Lowder New Homes is the best solution. With more than 50 years of experience and more than 200 years of expertise in our team, we have the process and the people to take care of you. We have implemented a customer service system that answers your questions and keeps you informed. It starts from the time you pick out a home site, continues during the design and selections process, and it continues during construction with on-site visits with our construction team. But our customer service doesn’t end with the completion of you new home. All throughout the warranty period and beyond we are happy to respond to your questions and your needs. We know that every time we have the opportunity to serve you, we have the opportunity to make a customer for life.
Listen to what a homeowner in Highland Ridge, our Prattville community, said last month:
“Dear Lowder New Homes. A couple of months ago I sent a letter to Lowder regarding some issues I was having with my 2-year-old house in Highland Ridge. I was not expecting Lowder to be able to do anything since our warranty had expired and to my surprise you called and set up a time to come fix these things. I know Lowder had no obligation to do that so I wanted to thank you for helping us out. Lowder is a great company and very loyal to your customers. That’s what makes a company great. Thanks for everything!” Emily H.
It’s this kind of response from our customers that makes us proud to not only be in this business but to wake up every day! We also know that the relationship with our customers will be rewarded down the road. In fact, we’ve made it such a part of our customer philosophy that more than 98 percent of our customers said that they will recommend us to family and friends.
If you are looking for a new home and your investment in real estate is important to you please call or email Lowder New Homes at 334.270.6789 today and see why now is a great time to buy in Montgomery, Pike Road, Prattville and Millbrook!
Posted on Nov 2, 2009 | 4:40 PM
