According to NAR, if all home buyers become eligible for a tax credit without a repayment feature, it could result in an additional 555,000 home sales – enough to meaningfully draw down excess housing inventory, according to the National Association of Realtors^.

An evaluation of options for a home buyer tax credit by NAR shows wide ranging implications and benefits. A full credit to all buyers means an additional 2.22 million households would meet the income requirements for purchasing a home, but only one in four of those households would actually make a purchase.

This would be a great shot in the arm for home buyers and sellers in the greater Lansing real estate market.

Want to educate yourself on the finer points of buying or selling a home? NAR and your local REALTOR® can help.

On a side note, the bank bailouts that have dominated the news for months now seem to be getting lost into the back pages of the media, while they spend the monies to pay down their own debt, buy up the competition and doing very little for the consumer, who was suppose to benefit from this. I have avoided this negative subject for months now, so I could focus on the basics of helping clients and customer continue their challenge in today's market. Better days are coming.