Excerpt from:  Buying and Owning a Second Home
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June 17, 2009

Can a $15,000 Tax Credit Be on the Way?

New tax credit would help all home buyers -- including for second homes
Back in February, as part of the economic stimulus bill, first time home buyers were offered a tax credit of $8,000. However, this didn't help ski resort real estate much, since first time buyers can't usually afford such homes. Things may change, though, if lawmakers can be convinced that a $15,000 tax credit, open to anyone, for any home, will help the housing market recover.

The new tax credit could be used by those buying second homes, including ski resort real estate. The idea is to help stimulate buying in higher priced markets as well as the lower priced markets, where some action has already been seen.

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