Austin Texas Homes and More

So…yes…it appears the looming deadline for our tax credit will be extended!  HURRAY.  I have to admit I was a bit of a skeptic initially.  I knew first hand how the banks were struggling and weren’t even able to process the offers they had because of the short sale crisis and foreclosures.  But, it appears all but certain after the Obama administration will push Congress to go ahead with a new and improved version of the bill.  The new bill will effectively extend the tax credit for new buyers all the way through April.  But even better is that you just have to purchase by April and have an additional 60 days to close.  The new bill also will allow current homeowners and more affluent buyers to claim a $6500 credit as long as you have lived in your current property for at least 5 years.  This is great news for all who were under the time crunch, as well as those who have not been able to find their perfect home.  A shortage of inventory has been an issue for many of my clients as folks have just been hesitant to sell in a declining market.  I say, if you need to move, or want to move, there has never been a greater time.  If you must sell your home for less…you will likely make it up when you buy for less.  Buyers and sellers alike will win with this new extended and expanded program.  And I say “way to go” to the politicians who are spending our tax dollars on something that can make a difference.  Now if we can just get health care on track!

 

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