Tax credit helps buyers, sellers -, South Georgia News, Weather, Sports

Tax credit helps buyers, sellers

By Karen Cohilas - bio | email

ALBANY, GA (WALB) - The housing tax credit has helped to put people into new homes. But it's also helped those who sell homes stay in business.   Managers at Wayne Frier Homes in Albany say they would likely be closed without the $8,000 tax credit for first time buyers.

Even with it, it's been a tough year. Typically they sell about 75 homes a year. So far this year, they've only sold about 20.

They know the number would be less without the credit.

"I just don't think we would have made it as a company," said Tommy Riddell of Wayne Frier Mobile Homes. "It is frightening and it's amazing. I've been in this industry now for two decades. I've seen a lot of changes, but never have I seen the opportunities that are out there right now for somebody wanting to purchase a home."

 That tax credit was just extended through June. There's also now a credit for homeowners who have lived in their current home for at least five years and are looking to relocate.

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