Will the homebuyer tax credit be extended?

The homebuyer tax credit is schedule to end on April 30, 2010. Will the tax credit be extended?

There is no way of knowing for sure at this point. I have not read anything that indicates there will be an extension. The tax credits available these past couple of years have worked to stimulate sales throughout the country by providing buyers with an extra incentive to purchase a home instead of waiting. Many of us would like to see the tax credit extended but there are no guarantees this will happen.

My advice would be that if you are planning on purchasing a home and your purchase is motivated by you qualifying and receiving a tax credit, you may want to act now. With the April deadline fast approaching for a buyer to be under contract or closed on the home they purchase in order to qualify, timing is crucial. Short sale contingencies, REO processing, appraisal or home inspection issues can delay closings.

Give me a call to discuss your personal home buying situation and to receive complete details on the available tax credits available for homebuyers.


Related Florida real estate blog posts on the tax credit