Roundup: Don’t Expect Another Extension to the Homebuyer Tax Credit

by UrbanTurf Staff


Here are some stories we came across this week that we think will be of interest:

  • The photo above is of the drool-worthy condo used as the protagonist’s home in the upcoming sequel to Oliver Stone’s 1987 classic Wall Street. The New York Times profiles the unit, as well as the lengths to which the financier owner went to hide his identity. Apparently being an ostentatious Wall Street high-flyer isn’t politically correct these days.

And now back to real estate topics affecting mere mortals.

  • While most people have assumed that the homebuyer tax credit will finally expire at the end of this month, there may be a few hopeful folks still gunning for another extension. Sorry to disappoint, but that’s just not likely to happen, says MarketWatch. The two big lobbies that pushed for the first extension at the end of last year — the National Association of Realtors and the National Association of Home Builders — have not made the same push this time around.
  • The H Street Corridor may be getting a Giant supermarket at Third and H streets NE, which will certainly make new homebuyers there happy. Trader Joe’s, Yes! Organic and Harris Teeter were also in contention.
  • In streetcar news, The Washington Business Journal reports that DC has applied for a $25 million grant from the Feds to help fund extension of the line east down Benning Road, across the Anacostia River, and on to the Benning Road Metro. (Currently, the eastern terminus will be at Benning and Oklahoma Avenue at the edge of Rosedale.) The city should find out in June whether its application was accepted. Separately, Greater Greater Washington has posted a great explanation of exactly how both ends of the streetcar will be laid out.
  • As the economy tentatively recovers, all eyes are on the nation’s housing market. Will it continue to improve even as the tax credit ends and mortgage rates move higher, or will it falter? The experts disagree. Robert Shiller, housing guru and father of the widely-cited Case-Shiller index, told The Motley Fool that housing is on shaky ground: “I don’t trust the [upward] trend that we have. I’m worried that it might get reversed.” On the other side, investor John Paulson, who made a fortune betting on the implosion of the mortgage market, is bullish. He thinks that home values have overcorrected and could climb back another 8 to 10 percent next year. What do you think?

Finally, here are UrbanTurf’s three most popular posts of the last week in case you missed them:

  1. Antawn Jamison’s Palatial Bethesda Mansion Hits the Market
  2. The Must Use Tool for DC Home Buyers
  3. DC’s Top 50 Properties (and What They Say About the City’s Buyers)

See other articles related to: weekly roundup

This article originally published at http://dc.urbanturf.com/articles/blog/roundup_dont_expect_another_extension_to_the_homebuyer_tax_credit/2001


  1. Gekko said at 4:00 pm on Thursday April 22, 2010:

    Greed is (not) good?

  1. DG Cromwell said at 2:53 pm on Friday April 23, 2010:

    This is a post about the Lacey ad since I can’t post any comments afterward. Anyone looking at the Lacey should be cautious about the construction materials. The outside walls appear concrete, which naturally gives a hardcore appearance. It’s actually thin ply woods that has been painted with concrete colors. I only noticed it when a corner piece was warping outwards. The condo was designed cleverly to fool you into thinking it should be expensive.

Join the discussion

UrbanTurf now requires registration in order to post comments. Register here, or login below if you are already registered.

Click here if you forgot your password.

DC Real Estate Guides

Short guides to navigating the DC-area real estate market

We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Visit guides.urbanturf.com or start browsing below!

Northern Virginia

Profiles of 14 neighborhoods across Northern Virginia

Looking to Give People A Reason to Stay Past 6pm
Happily Straddling the Line Between City and Suburb
Columbia Pike
Arlington’s Neglected Stepchild is Getting a Makeover
Crystal City
Turning Lemons into Lemonade
Lyon Village
Developing An Air of Exclusivity?
Hitting Its Growth Spurt
An Urban Village Hitting Its Stride
Del Ray
Virginia’s Small Town Near the Big City
Eisenhower Avenue
The Vibrancy Might Take a Few Years
The Quiet Neighborhood By the Beltway
Old Town
Mayberry By The Potomac
132 Commerical-Free Acres
Downtown Falls Church
Staying the Same in the Midst of Change
Tysons Corner
Radical Change Could Be On The Way

See more Northern Virginia »


Profiles of 14 neighborhoods in suburban Maryland

Small-Town Living in the State Capital
Bedroom Community Gets Buzzing Cache
Cabin John
In With The New While Maintaining the Old
Chevy Chase
Affluence, Green Lawns and Pricey Homes
Downtown Silver Spring
Experiencing a Resurgence After a Bumpy History
A Suburb on Steroids
Rockville Town Square
Despite the Dynamism, Still Somewhat Generic
Takoma Park
More Than a Little Bit Quirky
A Foodie Magnet on the Verge of Change
Capitol Heights
Kudzu, Front Porches and Crime
Glass Half Full or Half Empty?
Mount Rainier
Artists, Affordable Homes and A Silo Full of Corn
National Harbor
A Development Rises Next to the Potomac
Riverdale Park
A Town Looking For Its Identity

See more Maryland »

Northwest DC

30+ neighborhood profiles for the city's biggest quadrant

16th Street Heights
DC's Sleeper Neighborhood
Where (Almost) Everyone Knows Your Name
AU Park
One of DC’s Last Frontiers Before the Suburbs
DC’s Northern Neighborhood on the Cusp
DC’s 535 House Neighborhood
Cathedral Heights
Do You Know Where That Is?
Chevy Chase DC
Not to Be Confused With the Other Chevy Chase
Cleveland Park
Coming Back After A Rough Year
Columbia Heights
DC’s Most Diverse Neighborhood, But For How Long?
An Island of Serenity East of the Park
Dupont Circle
The Best of DC (For a Price)
Foggy Bottom & West End
Where the Institutional Meets the International
Forest Hills
Ambassadors and Adventurous Architecture
Fort Totten
Five Years Could Make a Big Difference
Foxhall Village
350 Homes Just West of Georgetown
Friendship Heights
A Shopping Mecca With a Few Places to Live
History, Hoyas and H&M
Glover Park
One of DC’s Preppier and More Family-Friendly Neighborhoods
A Posh View From Embassy Row
LeDroit Park
A Quiet Enclave in the Middle of the City
Logan Circle
Trendy Now, But Not By Accident
Mount Pleasant
Sought-After Homes Surround Main Street in Transition
Mount Vernon Triangle
From Seedy to Sought-After
The Long, Skinny Neighborhood at the City’s Northwest Edge
Park View
It’s Not Petworth
Penn Quarter/Chinatown
DC’s Go-Go-Go Neighborhood
Getting a Vibrancy of Its Own
The Duke’s Former Stomping Ground
Shepherd Park
DC’s Garden of Diversity
Spring Valley
A Suburb With a DC Zip Code
Not To Be Confused With Takoma Park
Not Quite Like Its Neighbors
U Street Corridor
The Difference a Decade Makes
Woodley Park
Deceptively Residential
Adams Morgan
No Longer DC’s Hippest Neighborhood, But Still Loved by Residents

See more Northwest DC »

Southwest DC

The little quadrant that could

Southwest Waterfront
A Neighborhood Where A Change Is Gonna Come

See more Southwest DC »

Northeast DC

Profiles of 10 neighborhoods in NE

New Development Could Shake Up Pastoral Peace
A Little Bit of Country Just Inside the District’s Borders
Not to Be Confused With Bloomingdale
H Street
A Place To Party, and To Settle Down
The Northeast Neighborhood That Few Know About
Michigan Park
A Newsletter-On-Your-Doorstep Community
Evolving from a Brand to a Neighborhood
Ripe for Investment Right About Now
The Difference 5 Years Makes
Big Houses, A Dusty Commercial Strip and Potential

See more Northeast DC »

Southeast DC

6 neighborhoods from Capitol Hill to East of the River

Capitol Riverfront
Still Growing
Hill East
Capitol Hill’s Lesser Known Neighbor
Congress Heights
Gradually Rising
Notable for Its Neighborliness
Historic Anacostia
Future Promise Breeds Cautious Optimism
Eastern Market
A More European Way of Living

See more Southeast DC »

Upcoming Seminars ▾