Biden's Home Buyer Tax Credit- Why this is NOT as good as it seems...

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Biden has announced he's going to propose a $15,000 Home Buyer Tax Credit to New Home buyers in 2021... Here is why Realtors and Lenders DON'T think this is a great idea that even YOU will change your mind!

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  1. Brian Decker
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Автор

So, if they are capping area median INCOME, then why are they capping home prices at 110% of average area prices?

Especially If the credit is capped at $15, 000 based on 10% of a $150, 000 home. SO, whether you buy a $150, 000 home, a $300, 000 home, or a $600, 000 home, you still ONLY qualify for a max of $15, 000 tax credit.

SO, if the only houses you find in the area are priced at 111% of the area average prices, then YOU DON'T QUALIFY!

The cap on purchase price, AFTER an earnings cap has been set, is ridiculous! - considering the fact that the $15, 000 tax credit WILL NOT increase with any home purchases ABOVE $150, 000!

jameso.
Автор

Good video. I hope people see this before buying a house

ronpeltz