Posts Tagged ‘Barack Obama’
How Many People Have Used the Homebuyer Credit in D.C.?
1,329.
In D.C., roughly one out of every 445 people filed for the credit. In the entire state of Maryland, 23,679 have filed for the credit, roughly one out of every 237 residents. In Virginia, 40,527 have filed for the credit, roughly one out of every 191 locals. (I calculated these numbers comparing the original figures with population estimates from the Census Bureau’s 2008 survey.)
The tax credit information comes from Jim Dupree, a spokesperson with the Internal Revenue Service. (I’ve blogged about the homebuyer credit frequently in the last few weeks as the newest version of the popular credit was making its way through Congress.)
So 1,329—not terribly impressive?
I wouldn’t say that.
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President Renews First-Time Homebuyer Credit
Today, President Barack Obama signed a $24 billion stimulus bill that included renewing the first-time homebuyer tax credit (as the A.P. reports).
The National Association of Realtors has posted a Q&A about the credit, which is altered significantly in this bill, on its website. Their responses should answer all the basic questions:
Who Qualifies for the Extended Credit?
- First-time home buyers who purchase homes between November 6, 2009 and April 30, 2010.
- Current home owners purchasing a home between November 6, 2009 and April 30, 2010, who have used the home being sold or vacated as a principal residence for five consecutive years within the last eight.
To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase. If you or your client purchased a home between January 1, 2009 and the date the bill is signed by President Obama, please see: 2009 First-Time Home Buyer Tax Credit.
Amtrak Ridership Down in 2009, But Remains High
The Associated Press is reporting that Amtrak carried roughly 27 million people in the last 12 months— down about a million from the same time period the previous year, but still up more than five percent from two years ago.
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More Chatter on the Extension of the Homebuyer Tax Credit
In less than two months, the $8,000 tax credit available to first-time homebuyers is set to expire. Economists and housing experts have widely applauded this program as one of the driving forces sending purchasers hustling back into the market. President Barack Obama’s administration is considering renewing it. Several senators have supported a measure to extend the credit for six months, and now Bloomberg is reporting that much of Congress seems to be on board.
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Thanks to Unemployment, Foreclosures Rise 17 Percent
The Washington Post is reporting that the total number of homes in foreclosure jumped 17 percent from the first quarter to the second quarter of 2009.
Since March, nearly 400,000 people have participated in President Barack Obama’s Making Home Affordable program, which pays lenders to lower borrowers’ monthly payments, according to the story.
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Wait, There’s a $15,000 Homebuyer Tax Credit Being Proposed?
The Washington Post writes again today about the upcoming deadline ending the $8,000 homebuyer tax credit program. President Barack Obama is mulling over extending the credit and several senators, including Maryland’s Ben Cardin, have introduced a six-month extension of the tax credit.
But, wait! There’s a completely different, more generous bill already out there, according to the Post story:
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White House Considers Extending $8,000 HomebuyerTax Credit
This past weekend, the Washington Post did an excellent job envisioning a nightmare scenario: Searching, finding, going under contract and closing on a house by November 30.
Why the rush? The $8,000 first-time homebuyer tax credit is scheduled to expire by then. Read More “White House Considers Extending $8,000 HomebuyerTax Credit” »
Obama Visits Deanwood Habitat for Humanity Project
As Mike DeBonis first reported over at City Desk, President Barack Obama and first lady Michelle visited a Habitat for Humanity project in Deanwood today.
Dressed in gray slacks and a button-down shirt, the president toured two homes currently under construction in the 53-unit development, which is mostly completed and occupied, according to Heather Phibbs, Communications & Community Relations Manager for D.C.’s Habitat for Humanity.
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New Park May Not Become “President Barack Hussein Obama Park”
As I reported yesterday, Ward 1 Councilmember Jim Graham authored legislation to rename the new park at 14th and Girard Streets “Barack Hussein Obama Park.” This was an especially gracious move since Graham was second in line for the renaming privilege.
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New Columbia Heights Park May Become “President Barack Hussein Obama Park”
Remember that renovated and recently re-opened park at 14th and Girard Streets? Well Ward 1 Councilmember Jim Graham has introduced legislation to rename it “President Barack Hussein Obama Park.”
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