The tax credit still has some life it. A single issue bill was voted on 409-5 last night to extend the deadline for buyers to close until September 20th, 2010. This deadline allows buyers to still qualify for the up to $8,000 tax credit.
It needs to be passed tonight as a final vote by the Senate and be signed by the President - all signs look good. Let's hope that those 180,000 contracts don't get stuck.
It is predicted that as many as half of those contracts could back out if the deadline is not extended.
Let's all keep positive thoughts.