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Home Buyer Tax Credit to be Extended and Expanded!......Maybe

By Ann Hayden 636-399-7544

Real Estate Agent with Berkshire Hathaway HomeServices Select Properties-St. Louis Missouri MO Salesperson#2004006871

November 03, 2009 01:17 AM

Home Buyer Tax Credit to be Extended and Expanded!.....Maybe

It looks like we could know today if the tax credit will be extended and expanded. This seems to be a move in the right direction for the home buyers that did not find a home within the allotted time to close by November 30th, 2009.

The new bill expands the tax credit to include home buyers who have owned a home for 5 years but they are eligible for $6500.

The Senate passed a cloture motion to end debate by a vote of 85-2. The bill will extend and expand the tax credit until April 30, 2010. This bill is likely to find it's way to floor votes in both Senate and the House by the end of today.

So buyers, you better get hopping and get looking again. You do not want to miss the party this time!

Stay tuned, I will update the situation as it unfolds.

Contact Ann Hayden to get started today!

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Bob Jakowinicz

National Realty Centers Livonia--Bob Jakowinicz - Livonia, MI

Michigan Real Estate Agent-- MI Real Adventures

Ann, I think if it passes today it may be the last we see of a tax credit. So I agree buyers need to take advantage of it now cause I don't think it will be there after 2010.

Nov 03, 2009 01:20 AM

Ann Hayden 636-399-7544

Berkshire Hathaway HomeServices Select Properties-St. Louis Missouri - Des Peres, MO

SelectAnn.com

Bob,

I agree...the buyers should not assume this will happen again if it does pass.

Ann

Nov 03, 2009 01:21 AM

Home Loan Search.Online

Home Loan Search Online - Newnan, GA

I was under the impression that the Dodd-Lieberman-Isakson bill included a provision for a 60 day extension if the property is under contract by April 30, 2010.

Nov 03, 2009 02:05 AM

George Souto

George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT

Your Connecticut Mortgage Expert

Ann this would take the preasure off of what we have been experiencing over the last month. Let's see what the final Bill looks like.

Nov 03, 2009 07:33 AM

Nick T Pappas

Assoc. Broker ABR, CRS, SFR, e-Pro, @Homes Realty Group, Broker/Providence Property Mgmnt, LLC Huntsville AL - Huntsville, AL

Madison & Huntsville Alabama Real Estate Resource

Ann, for two of my clients sake, I hope it is extended as we are a little worried they won't close in time.

Nov 03, 2009 02:45 PM

Darrell,

That may be true. I have not been able to find all the variations of what is being proposed.

Thanks for stopping by,

Nov 04, 2009 12:41 AM

George,

I have several buyers who need to find a house still and there is just nothing out there. I hope the bill will stimulate some sellers to move on and move up.

Nov 04, 2009 12:45 AM

Nick,

I know this is a major concern for several people. I hope it is extended and people who want to buy get out early to take advantage.

Nov 04, 2009 12:46 AM

Ann I usually hear the opposite, that Sellers can't seem to find a Buyer.

I know that the present tax credit created a lot of activity over the last couple of months, so what you stated could very well happen.

Nov 04, 2009 09:30 AM

I hope it works out for everyone!

Nov 05, 2009 11:54 AM

Home Buyer Tax Credit to be Extended and Expanded!......Maybe

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Ann Hayden 636-399-7544

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