North Park and San Diego Buyer’s Face Tax Credit Deadline
Amongst all of the misinformation out there, surrounding the first time buyer tax credit, I wanted to clarify the situation for all our of clients and confused San Diego home buyer’s.
If you are one of the many who have been confused by this whole ordeal, don’t feel bad…..yesterday I wrote a blog about how the tax credit was being extended….and I am a real estate professional!
So here is the real deal! For sure this time.
The American Jobs and Tax Credit Loopholes Act, the bill that was slated to extend the tax credit for those home buyer’s that beat the April 30th deadline and were now waiting on the paperwork to be finalized, is now dead.
Supporters in the Senate, that had passed an amendment to the this bill finally gave up on the stalemate, with some reports noting a surprising lack of support from Democratic constituents.
According to an article on the National Association of Realtors website today, there seems to be some hope that this bill may have one last chance at life, or it may come to pass in another form. There has been some indication that a completely new bill may be drafted, and make the credit retroactive, but we are not holding our breath.
I know of some homes in the North Park area, where the agent has kept an open escrow after the buyer has walked, to preserve the tax credit status, but it now looks like it may have been a futile effort.
If you have any questions about North Park homes for sale, San Diego real estate, or general questions regarding this tax credit, contact Dave Werth at 858-926-9181 or dave@werthwebster.com.com.
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