Home Buying in 19154>Question Details

2007, Home Buyer in Philadelphia, PA

Do you think they will extend the $8,000 tax credit for 1st time homebuyers again?

Asked by 2007, Philadelphia, PA Sat May 1, 2010

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I have to agree with the rest of these guys, I don't think its coming back. That being said, it opens the door for serious buyers to get a good deal. The pool of buyers will decrease, so with less demand, sellers should be more willing to accept offers. We'll see how it effects market here in Northeast Philly.
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0 votes Thank Flag Link Mon May 3, 2010
I think that they will extend it at the end of Juneand make it retro active for those who signed agreements after April 30th.. I have no proof or evidence to make me think this although I have heard some rumblings. My thought process is that the housing marlet has a huge effect on the rest of the economy and the cost of this credit is minute compared to other government spending initiatives. Since we have no budget right now, why not?
i agree that there are good deals out there. The problem is that there are so many distressed properties is that the supply far outweighs the demand. Until that is in balance there is still little to support the property market.

Regards,
Alan Openshaw
215 674 9059
0 votes Thank Flag Link Sun May 2, 2010
There may be other initiatives that support our recovering economy but it is highly doubtful a tax credit offering would appear again.

The feds now need to see what the real estate market can do on its own....In our opinion, there are many excellent opportunities in every market sector. Serious buyers will likely view short sales and foreclosures as viable avenues to target savings.

Best wishes,

Bill
0 votes Thank Flag Link Sun May 2, 2010
No way. Won't happen. It's done.

If you want to buy a home, then go out and find a home. Negotiate wisely and you'll save a ton of money. A good Realtor can help.

But that tax credit isn't coming back.
0 votes Thank Flag Link Sat May 1, 2010
Don Tepper, Real Estate Pro in Burke, VA
MVP'08
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