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First Time Home Buyer Tax Credit Extended? Maybe....

While still not law; it sounds that most of congress agree to some form of extending the first-time home buyer tax credit. There is even talk about extending a reduced credit to folks whom have owned a home before.

While details are sketchy - and unclear - it sounds like the general agreement and concept are there - it's just waiting for congress to do their normal crappy negotiating on what to tack on and take off the bill.

Since most loans are taking over 30 days to close - it is difficult for buyer whom are not yet in a contract to purchase a home - to expect to close in time for the November 30th deadline. This is expected by many to hurt home sales nationally.

To read the AP News Article - CLICK HERE

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Posted by James Downing - REALTOR®,GRI, ABR - DC Real Estate on 10/28/2009 09:26 PM

Comments (4)

tax credit, firsttime home buyers

Originally posted at: DC Real Estate News: First Time Home Buyer Tax Credit Extended? Maybe....

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4 Comments on First Time Home Buyer Tax Credit Extended? Maybe....

OCT

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.