Stimulation for the Housing Market – Today’s THV Channel 11 News (CBS), Little Rock, Arkansas
Posted By: Ebone’ Mone’t
February 18, 2009
On The Web At: www.todaysthv.com
President Obama signed the stimulus bill in to law Tuesday, and Arkansas home owners are already taking advantage. The American Recover and Reinvestment Act includes a first time home buyer tax credit of up to 8,000 dollars.
Meagan Frazier is opening the door to a new phase in her life.
The recent college graduate has big plans to put her interior design degree to good use.
“It’s kind of scary, but it really exciting,” says Frazier.
Fraizer and her fianc?e Todd McGuire’s new 1960’s fixer upper is her canvas. “I can’t wait till all the changes are done and the vision is finally real, I’m really excited,” says Frazier. The couple has just applied for the first time home owner tax credit of up to $8,000 dollars or 10 percent of the cost. It’s for to people who’ve bought a house on or after January 1, 2009.
Homeowners who haven’t claimed a mortgage interest deduction on their income taxes /in the last three years qualify. Benton Crye-Leike realtor Karen Crowson says this credit is right on time.
“Right now is the perfect time especially for first time homeowners, with this tax credit,” says Crowson. “We went through a little slump last year and we’re starting to come out of that and I feel like the stimulus package will definitely help,” says Crowson.
“Without the money we wouldn’t be able to do any of the major things we wanted to do,” explains Frazier.
“This is really the first time I really feel that the government that I’m affected by something the government has done in a positive way,” explains McGuire.
To keep the credit homeowners have to keep the house for at least three years. That’s exactly what this couple says plan to do. They hope their new home will be the perfect place to live out the next chapters in their lives.