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Tax Credit Extension

There still seems to be no traction out of the House to extend the November 30, 2009 deadline,

lots of talk, nothing official. With the Thanksgiving holiday on Thursday and Friday, November

26th and 27th; and November 30th being a Monday, I would suggest that your purchase

close by November 25, 2009 to insure receiving the $8,000 tax credit. Loans should be in process

by early November to guarantee a smooth closing and allow for all settlement providers, not just

the lender or title company.

Posted by Richard Weeks, REALTOR®, Broker Associate, GRI, ePRO, eAgent on 10/21/2009 05:11 AM

Comments (8)

tax credit extension, close by november 25

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8 Comments on Tax Credit Extension

OCT

Anyone waiting is making an $8,000 "bet" that the government is going to work this out. Not sure I'd be willing to risk that much.

Good advice. With the rush to get loans done, and the holidays do not get caught trying to get it through a closing window.

They will . . no reason to announce now because they will advocate waiting. . urgency helps our market

Besides, they may even increase the amount and apply it to all buyers!

The Obama admisinstration needs a month or so longer to determeine the actual affect the tax credit had on the market. I hope we hear soon but I would bet it's going to be late in the year before we know anything for sure.

Good information. Home buyers should not assume that the program will be extended.

Just like those who are afraid to lock in their rates when they should, there will be those buyers who think the world will revolve around their decision to buy, and they're going to lose the $8k.

I still have a few people on the fence. They want to buy a house, but dont want to be rushed. The extension will be nice for them, if there is one.

OCT

Hi Richard... I think this weekend is the "magic" weekend to write a contract. Anthing after that is skating on thin ice in my opinion.

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