Perriello Talks Homebuyer Tax Credits in Crozet - NBC29 WVIR Charlottesville, VA News, Sports and Weather

Perriello Talks Homebuyer Tax Credits

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Congressman Tom Perriello (D) was in Crozet Monday talking to first-time homebuyers about a federal stimulus program designed to save them thousands of dollars.

The $8,000 tax credit helped Crozet homeowner Brent Yowell buy his first place. He said, "It's definitely a good feeling, especially after hitting the big 3-0 to kind of dive in and get that first home. You grow up as a kid picturing when you turn 21 you're going to graduate college, you buy a house, and now that American dream is starting to unfold."

It's a dream that's come true for hundreds of Albemarle homeowners thanks to the stimulus program. It's also helping to keep the economy moving.

"This is a way to really get money moving in the economy again, but again doing it in the areas that have the most need, like the housing market", says Congressman Perriello.

Central Virginia real estate agent Michael Guthrie says the credit is also helping to keep home sales in synch with 2008 numbers.

"If you don't have folks that are now in a position to buy because they have that money, I think the market would be in much worse shape than it is," said Guthrie. 

Yowell says the road to owning his own home was not without its challenges but after two months in his new place, and not paying rent, he says he wouldn't have it any other way.

"I for the longest time said 'oh, I can't do it, I can't do it' and hey, I'm doing it now," said Yowell.

The tax credit for first-time homebuyers is set to expire in November.

Reported by Keith McGilvery
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