First time buyer tax credit

By
Real Estate Agent with CENTURY 21-1st Class Homes

I've been asked repeatedly by potential first time buyers if I think the government will extend the $8,000 tax credit beyond the end of this November.  As the deadline nears I must remind buyers that your new home must actually close by November 30th, not just be under contract.  Not knowing what the future holds, I don't want to speculate what actions the government might or might not take.  Having said that I recently returned from a seminar featuring an economist for Freddie Mac.  Her response to the same question was that it depends how long American tax payers are going to put up with all of the recent handouts.  Her feelings were it's better to act now than to get greedy, because it may not last.

Comments (1)

Russ Ravary ~ Metro Detroit Realtor call (248) 310-6239
Real Estate One - Commerce, MI
Michigan homes for sale ~ yesmyrealtor@gmail.com

I don't know either.  I would like to tell my buyers not to rush but i hate to see them lose the 8000

Oct 11, 2009 03:33 PM