My feeling is that the tax credit will end on November 30th as planned. After the new year starts Congress will push either the same deal or something similar through into law for 2010. Still, I'd plan on their being no credit in place from Dec. 1st 2009 until March/April 2010.

Lending is always changing if you have an interest in wanting purchase a home I would not worry about $8K extended. You receive annual tax benefits owning a home

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Lynn911

At this point, it's anyones guess...but one this is for certain, and that is there are going to be many buyers caught in the "short sale" purchase process that will lose out on this advantage because of the bank's inability to deal with processing pending transactions.

Our feeling is that, at the very minimum, some concession is going to need to be made for these individuals that in some ways are becoming victems.

At first my thought was "yes," after all it’s a good step towards clearing the coming 'shadow inventory' or second wave of foreclosures to come all over the country (less so in Nashville areas), but with the uptick in the economy recently - or at very least the perception that we are past the worst of it - this may be it.

Keep an eye on http://www.irs.gov/index.html

kevin pellatiro (615)714-7918 kpellatiro@realtracs.com http://signswemustobserve.blogspot.com/