06-21-2010 04:57 PM - edited 06-21-2010 05:01 PM
Just wandering has it been confirmed if there will be an extension of the 8k Tax credit. I am still reading confliction reports. I hope so! i am one of those people that it would help, I was under contract by April 30 (April 27) but it is a short sale and I am still waiting on bank approval of my offer. *sigh*
06-24-2010 07:42 AM
06-24-2010 09:36 AM
The tax credit extension is buried in a larger bill that has other items the senate is trying to filibuster, I believe there isn't even a vote scheduled.
06-25-2010 10:40 AM
Failed to pass by 3 votes.
06-26-2010 09:31 AM
*Sigh* It would have really helped the little guy (well gal) like me! Big bank bail outs, but none for those who make 28K a year trying to buy a house! *sad smile* oh well, I hope I can still close on this short sale! Wish me LUCK!
07-07-2010 05:38 PM
Good Luck with the short sale! While the credit sounded great, I find that all it did was allow the sellers to jack the prices up 8K or more and not be as flexible as they should be in this current housing market. I decided to wait out the credit and noticed that after 4/30 prices started to drop slightly, but I'm noticing after 6/30 they have dropped even more and sellers are offering incentives in the form of closing costs assistance along with reduced prices. I also notice that houses are back on the market probably from people rushing to sign contracts to get the FTB credit and the deals fell through. Im no expert, but I did my own "market analysis" and I am glad that I waited
07-07-2010 06:45 PM
07-09-2010 08:44 AM
I was on the IRS website today checking to see if they received my package to get the homebuyer tax credit. It clearly states that the deadline has been extended to September 30, 2010, as long as you were under contract by April 30, 2010.
Yip-peeeee for those of you rushing to close by June 30th but had complications with your settlement. This gives you more time to get things in order.
Good Luck to ya.