They said it wouldn’t happen again, but as lobbyists begin converging on the steps of Washington’s most decisive building; it’s time to wonder if the Home Buyers Tax Credit will be extended once again. Many have asked if the whole process has been effective thus far and after reviewing your results; we’d love to know what you think!
First time home buyers have gotten the chance to dive into the real estate market at a time when they would have otherwise stayed clear of the looming danger. Although the market has been improving, the thought of buying a home in today’s market would have been non-existent for new home buyers had it not been for the tax credit.
With that said, it seems only reasonable to keep this trend on a roll and offer the extension again to both first time buyers and existing buyers as well. However, many would disagree. Senator Johnny Isakson, who originally helped push the deal through Congress by making it clear that it would not be extended again, notes that doing so would be a “nonstarter.” It’s said that he currently does not have any plans to offer any legislation to ask for an extension. Isakson’s spokeswomen added that, “Part of the benefit of the tax credit is the urgency of its ‘sunsetting’.”
So, what will this mean for the real estate market? It seems that we will have to wait and see what Congress decides. In the meantime, we’d enjoy hearing your thoughts on the matter. Do you feel it would be beneficial to extend the tax credit once again? Why or why not? Have you seen an increase in sales due to the tax credit for new buyers or move-up buyers? We value your opinion as you are the ones who are deep in the trenches day in and day out. Tell us what you think!
As Real Estate Virtual Assistants, we’re here to help! We enjoy sharing new ideas and tips to make your life easier. Have a tip or idea to share? We’d love to hear your feedback!
Allie Hlad
Listing Coordinator
Comments(3)