Update on Tax credit extension
It is not “officially” too late – If you don’t have a home under contract as of today, the chances of taking advantage of the Federal Tax Credit is pretty much NIL. BUT – THERE IS HOPE! As the below podcast indicates, National Associate of Realtors is lobbying very hard to get the credit extended. In fact, they have already extended it to veterans.
What I am telling my clients right now is that this credit has existed in one form or another for 4 years. The economy still is in need of incentives to get people out there to buy, so the likelihood that the credit dies all together is very slim. There is a very good chance it will be extended and maybe opened up a bit, but it is the government, so you can never count on that. Let’s keep following the story and see what happens.
http://www.realtor.org/about_nar/presidents_report/_podcast_archive/mcmillan_credithealthreform_20091020
