According to an article in US News, strength is gaining for an extension of the first time home buyers tax credit.
According to the article, the Senate has agreed in terms to an extension with a deadline of April 30, 2010. If passed the deadline would mean the home buyer has to close escrow and take possession of the home prior to the April 30, 2010.
The new bill may add some perks to move-up home buyers as well as some in higher income brackets. We must emphasise the word "MAY" since the legislation is still being picked apart by law makers and surly each one has some special agenda he or she will want to affix to the bill. In the end who knows what it will look like. Hopefully there will still be some language about a first time home buyers tax credit along with the pork we were promised would never be included in a bill after the last election... oh don't let me go there God, please.
I think I am back under control but I better end this post now. We will keep you informed of any changes.
Gene Urban
The Urban Team at Realty Executives
602-234-5777
