Realtors discuss the affects of the homebuyer tax credit.

When the first-time homebuyers tax credit of up to $8,000 was extended last November, Congress also added the repeat-buyer tax credit of $6,500 to be used for homeowners to sell their current home and purchase another one. With the high unemployment rate, the higher credit scores wanted by lenders since earlier this year, the upside down state of home sales, and the horrible winter weather in much of the country, homeowners are just not moving.

The incredibly low interest rates, along with the repeat-buyer tax credit, were supposed to bolster the sale and purchase of homes for repeat homebuyers. More buyers would stablize the slow housing market.  This sounds great in theory. However, while the first-time homeowner tax credit is helping buyers, the repeat-buyer tax credit is just not having the desired affect anticipated by Congress.

Local, rather than national, economies will benefit from both …