Will The $8000 Tax Credit Be Extended?

Will the$8000 tax credit for first time home buyers be extended?

Yes.

8000 tax credit extended

What the heck – with the start of the football season, I am in a betting mood and this seems like as good of a bet as any.

Now, keep in mind — it is just a prediction, because believe it or not… no one from Washington actually calls me and asks for my opinion about these kinds of things – no matter how many letters I write that start with “Dear President Obama”.

4 Reasons The $8000 Tax Credit Will Be Extended

IF the real estate market of the US has turned the corner (if), it just barely did – and it needs a little while to pick up some more steam.

  1. There are still more foreclosures coming – which will increase inventory.
  2. There are programs such as the Neighborhood Stabilization Program that has enough money to run into next year.
  3. The decision whether or not to extend it will be made by Congress and we all know that they are going to cater to what the masses want.
  4. There is currently at least one bill that not only extends the credit, but allows more people to actually claim it:

“H.R. 2801 (111th Congress) 2009-2010 Home Ownership Moves the Economy (HOME) Act of 2009, is a bill sponsored by Howard Coble, a U.S. Representative from North Carolina’s 6th District. Representative Coble’s bill’s goal is to extend the tax credit into 2010 as well as allow all home buyers take advantage of the tax credit.”

Don’t think that the $8000 tax credit will be extended? Leave a comment and I will bet you a Diet Pepsi it gets extended!