Recommendations for the Stimulus Plan

I like the idea of a 10% tax credit up to $15K for the purchase of property, but I believe it should be extended to all buyers, including investors interested in long-term holds and second home buyers. I also think it should 15% to $22,500 for cash buyers. That will create more of an incentive for all and encourage buyers that won't strain the lending system. I don't really think there should be a cap on the dollar amount. There are more $150K properties in foreclosure than under $150K, at least in my area. It is almost impossible to find a single family house here for less than $150K.

I like the idea of 4% interest rates, but again I believe discounts should be available to all buyers as there are many potential buyers that are not first-timers and we need them too.

I think the period for these incentives should be shortened to 4 months. That will cost less money and create more immediate activity. When department stores have sales they have them for ONE weekend or ONE week, not extended periods, to get buyers to act NOW. Housing takes longer to find, pick, finance and close, but a 12 month period is too long. It can always be extended if needed, but human nature is to wait until the last minute, so a shorter period will get people to act NOW.

In addition, I think there should be a tax credit in 2010 for all who ride out the storm in good standing. The people taking second jobs, cutting out their cable, selling their cars, etc, to pay their mortgages as agreed should be rewarded too. If you do the right thing and hang on to you property, you should get rewarded as that is good for the housing situation too. If we shorten the incentive periods, money should be available for those who do the right thing to receive a credit in the future too.

I think there should be a tax credit available to any business start-up within the last 6 months or next 6 months, as those businesses will create more jobs further helping the overall situation. Those business owners are part of the solution and are showing faith and should be rewarded for such. More businesses will be encouraged to open with tax credits aimed at such and the businesses opened within the past 6 months will be aided in their growth. Big companies have bailed out, why not help the small ones get going? These will produce jobs that will help people keep their homes or buy new homes.

Lastly, I would like to see a government guarantee program set up for condominium loans. The government insures FHA, VA, SBA and could just as easily back condominium loans. That would make them much easier to sell by re-opening closed financing channels.

Those are my 2 cents. If you agree with ANY of them or have any of your own, please email your representatives ASAP and encourage them to do something NOW. We need a package aimed at housing, not pork. Email your representative before it's too late. A true targeted focus on housing will change the whole economy. Don't wait for your neighbor to do it. Take action yourself! If we band together and insist on change, we are more likely to get a package that works.

PLEASE TAKE THE TIME TO SPEAK OUT! Cut and paste any part you agree with or send your own suggestions to your officials!

You can find your senators here: http://www.senate.gov/ and your representatives here: http://www.house.gov/

PLEASE TAKE THE TIME TO SPEAK UP! THANK YOU!!

Jenniffer Lee
RE/MAX Complete Solutions
21301 Powerline Rd #106, Boca Raton, FL 33433
Office: (561) 322-3330 · Fax: (561) 322-3331
Website: http://www.best-real-estate-choice.com · Email: jlee@remax.net
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