Realtor.org, an on-line website, reports that Congress is debating extending and expanding the $8,000 first-time homebuyer tax credit which currently expires Nov. 30. By the end of November, according to Realtor.org, more than 118 million home buyers will have used the credit, many who would not have bought a home without it.
The Chief Economist for MoodysEconomy.com, Mark Aandi, is in favor of extending the tax credit. As he stated so well, "Nothing works in the economy if housing is falling....the tax credit is vital to stem housing price declines. Extending the tax credit and expanding it to additional home buyers could be accomplished through using unspent stimulus money to offer more home buying opportunities to additional customers.
Realtor.org took this information from CNNMoney.com. by Les Christie (10/14/2009).
Permmit me to assist you if you wish to take advantage of this tax credit. Time is running out. Be sure to get prequalified with a lender so you can find a home and close your deal before the tax credit runs out. If it is extended, I will be glad to have you as a customer and search for an ideal match for you.
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