Thanks Eric for this update...news many have been waiting for...it is still best to close before Nov 30th, because THAT TAX CREDIT OF $8,000 IS FOR SURE :)

Via Eric Reid (Renaissance Realty Group ):

YES or I should say a soon to be a YES

Here is what USA Today had to say about today's announcements:

"Senators agreed to extend the existing tax credit for first-time homebuyers while offering a reduced credit of up to $6,500 to repeat buyers who have owned their current homes for at least five years, said Regan Lachapelle, a spokeswoman for Senate Majority Leader Harry Reid, D-Nev.

The tax credits would be available to homebuyers who sign sales agreements by the end of April. They would have until the end of June to close on their new homes, according to a summary of the legislation being circulated among lawmakers.

Details to follow...

HOME BUYER TAX CREDIT -- WATCH -- UPDATE - LOOKS LIKE THE EXTENSION IS

 

2 Comments on HOME BUYER TAX CREDIT -- WATCH -- UPDATE - LOOKS LIKE THE EXTENSION IS

OCT
28
2009
995,977 Points 4 Featured Posts

And the bleeding continues although as a Realtor it doesn't hurt as much because I will make money. But for the country it is all bad and just another way to level out the money.
9:34pm • #1
204,720 Points 4 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

I am glad to see it is a lesser amount.  also glad it would be for more than first time buyers, it might help move the middle ranges of the markets....those "move up" sellers now become buyers...

So many of the properties being sold to the first time buyers are foreclosures and short sales, and those sellers are not buying up...they are going into rentals...

 
9:46pm • #2

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