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That's Rebatable

That's Rebatable

It sounds too good to be true. One of the nation's largest home builders, Pulte, is hoping to ride the momentum of the newly announced $7,500 tax credit for first-time home buyers by matching it with its own $7,500 discount.

The federal tax credit, announced last week, is supposed to encourage first-time buyers to enter the market; individuals can only qualify if they earn less than $75,000 a year (couples no more than $150,000), and buyers can't have owned a home in the last three years.

The Pulte offer, however, applies to anyone buying one of their new homes. The company is one of many homebuilders who lobbied congress to put the new stimulus package into effect, and representatives say that this new offer is one way of drumming up new interest. Pulte president Richard J. Dugas told the Wall Street Journal that the goal of the offer is "to draw attention not only to our homes but to the housing market in general."

Do you qualify for the new tax credit? If you're not sure, check out this web site for more details. Does an extra $7,500 make you more likely to buy a new home? [Wall Street Journal]

Posted: 8/6/08