Homebuyer's Tax Credit Has NOT Yet Passed -- Not Quite!

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Real Estate Agent with RE/MAX Select R.E. WA State: 75200

As I write this at 4:45 PDT, our local news station is reporting that the Homebuyer's Tax Credit has passed and will be extended to April 2010.

While that's GREAT news, it's not quite right yet, from what I can see.

Looks like the Senate has agreed to pass a resolution that would extend the $8,000 tax credit to First Time Homebuyers, a $6,500 tax credit for repeat homebuyers, both with qualifying issues.

However, a vote hasn't actually taken place that passes the resolution as a stand-alone bill. At the moment, it's hung up on the premise that it'll be tagged onto legislation to extend unemployment benefits, although it appears that it'll pass the Senate even as a stand-alone bill.

We'll see.

I'm holding off the celebration until it's signed around!

 

 

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Your Dedicated Realtor(r), ActiveRain Blogger, Seller, Buyer, and Short Sale agent working the Auburn, Kent, Renton, Maple Valley, Federal Way, Covington, Puyallup, Sumner, Bonney Lake, Lake Tapps, and north/northeast Tacoma areas. Visit my Web site too!

 

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Ambassador
403,531
Terrie Leighton
Ferrari-Lund ~ Reno's Premier Real Estate Company - Reno, NV
Reno Real Estate Agent ~ Selling Homes in Reno

They are sooooo close to getting the extension! But I am with you, no celebrating until it finally happens!

Oct 28, 2009 06:54 PM #1
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Paul McFadden
Paratex - Seattle, WA
Pest Control, Seattle, WA.

Gay: Thanks for the update. I heard the Senate has its own version so we'll see what emerges. One thing is for sure; there will be something that benefits the homebuyer which is good news. I still feel like our whole economy is on shaky ground. Thanks for the post. Have a great day!

Oct 29, 2009 08:50 AM #2
Rainmaker
206,924
Gabrielle Nemes
RE/MAX Select R.E. - Auburn, WA
206.300.8421, S King & Pierce County RE Advocate

Terri & Paul: They're SOOOOOOo close now. Both the Senate and the House say they're gonna pass this ... so come'on folks, let's get it DONE!

Oct 30, 2009 12:01 AM #3
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Rainmaker
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Gabrielle Nemes

206.300.8421, S King & Pierce County RE Advocate
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