Give incentives to all homebuyers

Re: 'New tax credit gives fence-sitters hope' (Feb. 18)

Dear Editor:

I think that it is very doubtful that this very minimal effort to boost our housing market will have enough effect to make a difference. It does nothing to entice anyone other than first-time buyers, who are a small percentage of buyers in the marketplace. And I just learned from your article that they must also remain in the house for three years! Is our government stupid?

This will be a negative condition as it will mean that all those homes will not resell for at least three years. What does this do to stimulate the real estate/housing market?

I think there should be some substantial incentives for everyone who is a potential buyer! Repeal the capital gains tax, at least for a period of time. We desperately need the investors to get back in the game! If the housing market takes years to turn around, I don't see how any other aspects of business can expect to prosper.

It is a big domino effect when a home sells: You employ the Realtor (or two), appraiser, closing attorney, surveyor, home inspector, termite company, in many cases a home warranty company, and contractors who are hired to do repairs noted on the home inspection. (Considering) countless thousands are unemployed, (and) the amount of revenue lost in retail purchases, travel, etc., it is amazing to me that U.S. Sen. Johnny Isakson's $15,000 tax-credit proposal did not pass! That would have been something that would really encourage all buyers to make a purchase.

It occurred to me that these foreclosed homes that are sitting with no heat or air conditioning will inevitably develop problems with mold. What will we do then? Hire companies with taxpayers' money to remove the mold (this is VERY costly). Or hire someone to tear them down?

The way our president and Congress are handling this is very disappointing ... and really a joke!

Mary Sinclair
Self-employed (unemployed) Realtor
RE/MAX Greater Atlanta
Gainesville, Ga.

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