As the deadline for earning first-time home-buyer tax credits edges closer, Realtors are hoping that Congress will extend the program at least into the next year.
“I know on the national level, Coldwell Banker has been a leader, as well as the National Association of Realtors, to lobby congressional leaders, not only to extend the program to expand it,” said Chuck Clark, owner of the local Coldwell Banker agency. “And to other buyers, not just limiting it to first-time home buyers.”
Senators and representatives, however, may have been too focused on health care and other matters to turn their thoughts to additional tax credits for home buyers.
“There have been discussions of extending the first time home buyer tax credit,” Sen. Pat Roberts’ press secretary Molly Haase said.
Haase said since the Senate Finance Committee, of which Roberts is a member, has been inundated with health-care reform, nothing definitive has been done yet.
Haase said the home buyer credit may be considered in the next few weeks.
Financed by federal stimulus money, the program allows up to $8,000 in tax credits for first-time home buyers and people who have not purchased a home for at least three years.
The program is scheduled to expire on Nov. 30.
Clark said although the program had not been used locally as much as many had hoped, it had been a deciding factor for some transactions.
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