To Extend or Not to Extend? The $8000 Home Buyers Tax Credti

Working with home buyers right now in the last moments of the $8000 tax credit is guaranteed to be hectic. Especially with the debate of what will happen next. Right now there is to much rumor flying around to really know anything. I would assume it is safe to say that there will be no decision until mid to late november as not to discourage anyone who is ready to go now not to move. Being that if you are not in contract by the first of November you will have a problem getting closed in time. This brings us to the next question should we extend the credit? With so many bailouts and things of that nature is it really beneficial to extend the credit. In my opinion no.... As a Realtor I obviously will benefit from the extension, however the "toxic assets" that we hear so much about are not homes that a typical First Time Buyer can qualify for. Normally because of condition. It would be nice to see some sort of tax incentive put in place for private investors that wouldn't mind buying up these properties and turning them in the rental properties themselves. I imagine this is just a pipe dream but its just my two cents. Either way you can pay attention to my website, blog or facebook to get the latest news as soon as i know.... thanks and have a great weekend

RJ

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