The word is the Senate could vote on the extension of the $8,000 tax credit as early as today. There is lots of debate going on with some people feeling it should not be extended while others feel it should be extended and possibly expanded to offer tax credits to anyone buying a home or property and not just first time buyers.
How Does This Affect Us As Realtors?
The fear is that if the tax credit goes away so will the desire of many buyers to get out into the market and actually buy something. As with many of the policies and programs we have seen over the last few years, this has never been done before so nobody really know what the positive or negative effects will be if the tax credit is extended or suspended. Stay tuned for more information.
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