I found the following on Realtor.org.  I would be surprised if they increase the maximum, but would love to see it apply to all buyers.  Wow would that be great for move up buyers:

First-Time Buyer Tax Credit Extension Possible
Bills to extend the maximum $8,000 tax credit for first-time home buyers, which expires Nov. 30, are pending in both the U.S. House and the Senate.

Sen. Christopher J. Dodd, a Connecticut Democrat and chairman of the Senate Banking, Housing, and Urban Affairs Committee, is co-sponsor of a bill with Georgia Republican Sen. Johnny Isakson that would raise the credit amount to a maximum of $15,000.

Senate Majority Leader Harry M. Reid of Nevada favors an extension of the current credit. He was quoted by the Las Vegas Sun saying, "It's something we can get done."

Odds are that the credit will be extended and broadened to cover all buyers next year, but the chances of the amount increasing aren't as good, observers say.

Source: Washington Post Writers Group, Kenneth R. Harney (08/22/2009)

Steve Lauver
DEEB Realty

Omaha Real Estate

Search Omaha MLS

 

3 Comments on First-Time Buyer Tax Credit Extension Possible

AUG
28
214,045 Points

 An extension of the $8000 tax credit would be wonderful.  If a tax credit, $8,000 or $15,000 , could be passed for all buyers the economy should boom. That would be great news.

 

Betty

2:32pm • #1
182,381 Points 1 Featured Post

We'll have to wait and see what happens won't we.

Patricia Aulson/portsmouth nh

2:59pm • #2
SEP
19

Of course realtors (who are nothing than middle men) are in favor if increasing home prices to get a bigger commision.  I am a first time home buyer and I hope they don't extend the tax credit.  If you need this tax credit to buy a home then you have no place owning your own place.  Let the free market work.   

William
6:48pm • #3

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Omaha, NE Real Estate -- Steve Lauver -- 402-689-7550

Papillion, NE

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DEEB Realty

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