Real Estate Conversations with Brenda: Whoa Nelly, Hold On To Your Horses!! Homebuyer Tax Credit Extended or Not?

Whoa Nelly, Hold On To Your Horses!! Homebuyer Tax Credit Extended or Not?

Has the Home buyer Tax Credit been Extended or Not?  I got really excited as I received from two different marketing sources that the  Home Buyer Tax Credit has been extended through 2010 at a somewhat discountedRodeo rate, depending on different situations. 

Below is the  news statement I have received.

Senate Banking Committee Chairman Chris Dodd (D-Conn.) says Senate Democrats have agreed to extend the first-time home buyer tax credit. The latest version extends the program to home sales signed — not closed — by April 30. Purchasers would have another 60 days to close the sale. The credit will also be expanded to include so-called step-up buyers who have lived in their current home for at least five years.

The credit would be cut slightly to a $7,290 cap. Income eligibility for first-time home buyers would stay the same, but it would rise for step-up buyers to $125,000 for individuals and $250,000 for couples.

Source: Bloomberg News, Dawn Kopecki and Ryan Donmoyer (10/27/2009).

So, before I decided to start announcing to the world that the Home buyer Tax Credit had been extended, I went looking to see this legislation and what sources were announcing this great new Credit that would certainly help to get more clients, or would it?  And Nada, Nothing!  I don't see anything stated anywhere about this new extension of the Tax Credit except in a few Realtors blogs.

Now, I am not saying that the First Time Home buyer's Tax Credit won't be extended, but as far as I can tell, it isn't official as yet.  Then I get ready to write my post and I see this BlOG by Lenn Harley and knew that I was probably right. 

Before we get all excited, we need to hold on to our horses and make sure that we know exactly what we are talking about and all of the details that this extension may involve and if there is even an extension. 

Thanks for Reading.


Brenda Mullen – San Antonio Texas Real Estate Professional

Brenda Mullen Your San Antonio TX Real Estate Agent
Selling a San Antonio Texas area home involves many steps and having an experienced  San Antonio  Texas Real Estate Agent by your side will make the transaction run a lot smoother. I would love to be your San Antonio Texas Area Real Estate Professional! I assist both buyers and sellers in the San Antonio Texas area with either the purchase and or sale of residential real estate.
As an Accredited Buyer’s Agent, I have received special training to guide and educate you through the entire home buying process. From start to finish, I listen to your needs and desires in what you would like and take the information you give me to find you home.
As your San Antonio Texas listing agent I am well versed on the local San Antonio Texas area Real Estate Market. You can expect personalized service that includes a detailed consultation on how to best position your home to be competitive in today’s market with an in depth comparative market analysis, and advice on staging. I use the latest and most up-to-date marketing methods to get your home in front of as many buyers as possible. Being your San Antonio Texas area Realtor® not only involves just finding the home or selling the home, but being your guide, negotiator, advisor and advocate and making sure that your needs and goals are met. Being your San Antonio Texas area Realtor® is one of my truest passions, and “Helping You Find Home” is my number one priority.
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Brenda Mullen
Broker-Associate/Realtor®, ALHS®, MRP®, ABR®, ePro®

Team Leader The Mullen Group with RE/MAX Access - Helping You Find Home
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Comment balloon 4 commentsBrenda Mullen • October 29 2009 08:02AM


We are all holding on to our horses and buyers waiting to see which way it goes.

Posted by Mary Strang almost 11 years ago

Hi Mary - That's the issue :o).  Don't want the buyers "holding on" too long and then waiting until it's too late, (which, if  they haven't found a home, it probably already is).  If they think they have all next year, they might hold off on the contract they were thinking of singing.   

Thanks for stopping by!

Posted by Brenda Mullen, Your San Antonio TX Real Estate Agent!! (RE/MAX Access) almost 11 years ago

Great point Brenda. We need to see this signed in as law before we start making any announcements and portraying them as fact.

Posted by Craig Rutman, Raleigh, Cary, Apex area Realtor (Helping people in transition) almost 11 years ago

Hi Craig - There are a lot of blogs about this topic today!  I was excited at first, but then when I started to try to find some factual based information, I couldn't find any.  I just thought we should all take a deep breath and wait it out a moment or two more.  Thanks for dropping by!

Posted by Brenda Mullen, Your San Antonio TX Real Estate Agent!! (RE/MAX Access) almost 11 years ago

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