Does anyone believe the Home Buyer tax credits will be extended again?

Asked by Gary Geer, Antioch, IL Thu Apr 22, 2010

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6
Tori Browning, Agent, Libertyville, IL
Fri Apr 23, 2010
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According to a recent article in the Wall Street Journal industry groups are not activily seeking an extension. Even NAR is saying its time for the industry to stand on its own two feet. With no one fighting for it, its very doubtful it will be extended.
0 votes
Mike Stodola, Agent, Libertyville, IL
Fri Apr 23, 2010
No. I don't and I haven't heard anyone who does.

Mike
0 votes
Don Tepper, Agent, Burke, VA
Thu Apr 22, 2010
Yes, Virginia, there is a Santa Claus.

No, Gary, there's no extension.
0 votes
Suz A, Agent, Longmont, CO
Thu Apr 22, 2010
I might believe in the Loch Ness monster, if...

• the economy slumps

• resales lose ground in May and June

• foreclosures surge

Otherwise, the National Association of Realtors has said it won't seek another tax credit. The economy seems to be picking up. And though a lot of foreclosures are expected this year, the administration has a new program it has unveiled and, at least in California, there does seem to be slowing for now.

As for resales in May and June. Will the momentum from February and March carry over into the summer buying season? I'll hazard a guess that sales might not improve much year over year, if at all. It is likely we'll see a momentary pause as we did in December and January. Pundits have been all over the map. I like the predictions that housing and real estate will be picking up significantly by year's end.

That's my two cents.
0 votes
Matt Taylor, , North Carolina
Thu Apr 22, 2010
If we only had the crystal ball. I think the idea was to drop the credit right around prime buying season to see if the housing market can limp through on its own. I do have faith if it slumps pretty hard again they will bring "something" back.
0 votes
Dan Chase, Home Buyer, Texas City, TX
Thu Apr 22, 2010
Yes, but they also usually believe in UFO's, the loch ness monster, and Elvis was seen at a local market 3 weeks ago looking like he did in 1973.
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