House buying incentives bill could boost local market

By Beth Danziger - bio | email

Posted by Terry Alexander - email

CHESTERFIELD, VA (WWBT) - Those in the housing industry are trying to get lawmakers to pass a housing stimulus package. Especially those in the Richmond area.

No other locality is feeling the housing slump more than Chesterfield. It currently has the most homes on the market.

Realitor Connie Myers says many home buyers are timid and scared to buy.

"Problem is the buyers are just reluctant to take that step off the fence and make that commitment to move forward to buy a house," said Myers.

That's why Monday morning local homebuilders took the issue to the offices of US Senators Jim Webb and Mark Warner.

It's an effort to get a housing stimulus package included in the 2009 American Recovery and Reinvestment Act.

"This is a human factor and if we do this we will make jobs real jobs that will be long lasting and stabilize the housing industry and stop forclosures," said Homebuilder Davis Owen.

The potential package would give every home buyer a tax credit between 10 thousand and 22-thousand dollars.

The buyer would get it at the time of closing and it wouldn't have to be repaid.

An enticing offer Myers believes would get those all important first time home buyers to finally buy.

And Myers and these home builders say with so many jobs connected to the housing industry if it gets going again so will the Richmond ecomony.

The US Senate is looking at the Recovery and Reinvestment Bill. President Barak Obama wants it on his desk by Friday, February 13th.

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