Will they or won't they extend the $8k tax credit?

Real Estate Agent with Coldwell Banker

I'm sure agents are wondering (I know I am) if the government is going to extend the $8k tax credit. The whispers are saying they have to but whoever thought we would end up where we are? And it is said that all things are relative. Most first time home buyers have a limit to their purchase price. As inventory is selling off and sellers are "not giving away" their houses we are being left with mostly knock downs, foreclosures or the dreaded short sale. Bless the buyers who can remain unemotional. It's hard enough to stay encouraging during the negotiations of a straight sale. Tack on a few weeks (if lucky) and you have tears and stomach aches galore!

NAR lobbing to have everyone purchasing a primary residence receiving a tax credit will help current home owners start the journey of climbing up the housing ladder again. (That's if people can keep a blind eye to the unemployment rate :(  )

Comments (1)

George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Lee there are numerous Bill that have been submitted to extend the Tax Credit, my guess is that one of them will be adopted.  Only time will tell.

Oct 20, 2009 12:56 PM