Simi Valley - 1st time Home Buyers Tax Credit Uncertainties

The tax credit for 1st time home buyers is ending on November 30th.  If you do not have a home in escrow by tomorrow, unless your offer is all cash, it will be difficult to get a financed purchased closed by November 30th.  The Thanksgiving Holiday will shorten the time for lenders to fund loans considerably.

There is much discussion in the media about an extension, but that is still far off in the distance as the Senate and Congress discuss options to include regular home owners in the program with the 1st time buyers.  The proposals really do not mean much until a bill is drafted out for discussion and vote.

The media coverage points to a favorable conclusion, but it is far too early to claim victory for future Home Buyers.

Thanks for reading Simi Valley's Premiere Real Estate Blog! Author - Ted Mackel Simi Valley Real Estate Agent - Keller Williams Realty Ted Mackel is a top producer at Keller Williams Realty Simi Valley, specializing in Simi Valley Real Estate (805) 432-7705