What does the $6500 tax credit mean to you?

[Jon Klaus]

http://news.yahoo.com/s/ap/20091105/ap_on_bi_ge/us_homebuyers_tax_credit

Will you use it personally?

Are you a broker/agent--how will it affect your business?

Wholesalers--what will it do for you?

Will it stimulate a substantial amount of transactions in your area?

One requirement is that you must have owned your primary residence for at least 5 years. This is probably a pretty strong group, financially. $6500 may not be enough to entice them, but if they are on the fence it might cause them to buy. Or if they were going to buy in the next couple of years, they might move up the purchase date. Or they might see this as an opportunity to unload their home now.

What do you think?