There is still a lot of confusion about the Tax Credit, the FHA program and the IHFA program here in Idaho.
However…Fox News is doing their best to understand and promote it here in Boise. Here’s the link to the story. The video link is at the top of the text piece. http://tinyurl.com/n8uonm
There are some inaccuracies in the story, but overall, I’d give them an A for effort and an A-/B+ for accuracy! The key, I think, is the buyer (supplied last minute, with about 15 minutes notice by ACAR Treasurer Brenda Kolsen, who’s yard sign didn’t make the air) who says “"If we weren't able to use the tax credit we wouldn't have been able to get a house,"…
BTW – NAR published this Tax credit Quiz http://tinyurl.com/n4uscy
See how you do. Be honest…did you really get the “houseboat” question right?
Its up to the REALTOR organization to continue to push the message out…”The tax credit advance is available, right now, in Idaho.” “Yes, some lenders are not participating, but dozens of other lenders, throughout Idaho are. For a list of approved participating lenders go to http://tinyurl.com/ljun4y
FYI – Susan Semba, IHFA, told Miguel Legarreta and me that as of last week almost 800 Idahoans statewide have “reserved” or applied for the tax credit advance!
In Dan Hamilton’s story he mentions the “grant from NAR” to pay the interest for the tax credit advance. We will be sending a press release later today (after we get the NAR quotes) on the program we are calling “Welcome Home Idaho”. Please note that we have received a total of $60,000. We believe that this will allow us to pay off the interest for approximately 200 first time buyers; but that’s not enough! We’d like to try to leverage this $60,000 into $100,000 or more. So far the IMLS has indicated that they want to participate. Also, US Bank has shown some interest. Hopefully the other local associations will be able to identify more partners for the Welcome Home Idaho program.
Contributions to the Welcome Home Idaho fund can be made through ACAR’s REALTORS Community Foundation which is a tax exempt 501c3 foundation. For more information on how to contribute, contact Judy McLaughlin jmclaughlin@adacounty-realtors.com or 2009 foundation President Kit Fitzgerald kitf@redbarnrealestate.com
The above has been posted to our Watercooler blog at http://acarwatercooler.blogspot.com/
Tuesday, June 9, 2009
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