Extension of the Tax Credit passes in the Senate.
Wonderful news for those still in the midst of trying to close their transactions in order to receive the (up to) 8000.00 Tax Credit 2010. They made the deadline of April 30th, 2010 to get the transactions accepted and now the date of June 30th, 2010 is steadily approaching to have the deals closed by then. Not likely to happen in this market. Hmmm. Why could they not anticipate from the beginning that people who were buying short sales that those deals would take longer than expected. Remember we’re dealing with lots of uncooperative banks.
It’s called forecasting. Look ahead and anticipate what may or may not happen. Extend the date with as little fanfare as possible. This is just MHO. That’s neither here nor there now. Buyers can relax, title companies and lenders can be more thorough and Realtors can stop pulling their hair out figuring how can we close by the end of the month. Breathe a sigh of relief for a moment. In this business something new and startling is just around the corner.
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