Real Estate Blog - Senate vote 98-0 to approve tax credit extension --- big news to us, not to them?

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Senate vote 98-0 to approve tax credit extension --- big news to us, not to them?

Received the text this afternoon.

Scrambled to find news articles. The best one I found was on Bloomberg. Headline: "Senate approves extended U.S. homebuyer tax credit"

Posted on Facebook.

Networked at a Chamber mixer. Shared news with other folks who haven't heard about it (yet).

Sent them link to Bloomberg news so that they, in turn, can spread the word.

Extension not passed yet...but with a Senate vote of 98-0 for it, it's almost a certainty that the House will follow suit. Then on for Obama's signature.

Scrambling to find details about this from other news sources.

Barely mentioned in CNN.com under headline of "Senate extends unemployment benefits by up to 20 weeks...."
And in Fox News, it's "Senate votes to extend benefts to jobless, homebuyers"
MSNBC says "Jobless, homebuer aid extensions advance"

Checked National Association of Realtors...not there yet?

In the meantime....this list is enough. Time to inform my buyers. There is hope!

Posted by Pacita Dimacali - e-PRO, SRES, CDPE, MBA East Bay, North CA real estate on 11/04/2009 11:16 PM

Comments (5)

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Originally posted at: Pacita's Quick Bytes of Real Estate: Senate vote 98-0 to approve tax credit extension --- big news to us, not to them?

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5 Comments on Senate vote 98-0 to approve tax credit extension --- big news to us, not to them?

NOV

I'm not thrilled... I think that the tax credit needs to die... It is too much money for the effect. We will see it lose its effectiveness, since most of the buyers that could use it already dived into the market. They need to not extend it anymore.

NOV

Ditto Lane * this needs to disappear and it costs WAY TOO MUCH for the minimal benefit. The properties that are being bought would have been absorbed by investors and the new proposal will flood a housing market top heavy with listings with EVEN more listings which helps NO ONE

Pacita...

It's just a matter of procedure now .... hopefully it won't get stuck in a house committee!

Pacita - I have mixed feelings on this. On the one hand, I know it will bring more business for a few months, but, on the other hand, we need to end it.

Lane, Wallace and Mike --- like everything, there are two sides to every coin. Guess half of us support it, the other doesn't.

Richard --- it's looking like it's gonna pass.

This may bring more business for a few months, as Mike says, but I look at it as more homebuyers making a move to buy, now that homes are within their reach. Since lending has taken on stricter guidelines, these buyers are going to be truly qualified to buy and own their homes, unlike a few years ago during the time of Ninja loans. I truly believe we have responsible buyers who need a break.

And....I have placed my trust in the National Association of Realtors to represent our interests. And they urge us to support this. So.....

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