Colorado Real Estate

See what Senator Mark Udall had to say regarding the $8000 home buyer credit.

The tax credit is set to expire on December 1, 2009. The summer months saw existing home sales rise, a very promising trend for the future of the housing market, and many analysts believe the credit has contributed to this growth. Helping homeowners is a necessary goal in our effort to aid both struggling families and the economy as a whole. Homeownership has long been the centerpiece of the vision that is the “American Dream.”
There have been discussions in Congress about extending the $8,000 tax credit or even expanding it. The discussions have been bipartisan but have not yielded any concrete legislative results. To that end, Senator Johnny Isakson has introduced the Home Buyer Tax Credit Act of 2009 (S.1230), which would replace the current tax credit for first-time homebuyers with a one-time credit for 10% of the purchase price, up to $15,000. This bill has been referred to the Senate Committee on Finance for review. While I am not a member of this committee, I will continue to monitor this legislation and the status of the homebuyer tax credit. It is important that we not backtrack on recent progress to stabilize the market.
I will continue to listen closely to what you and other Coloradans have to say about matters before Congress, the concerns of our communities, and the issues facing Colorado and the nation. My job is not about merely supporting or opposing legislation; it is also about bridging the divide that has paralyzed our nation’s politics. For more information about my positions and to learn how my office can assist you, please visit my website at www.markudall.senate.gov.