The Senate has approved a proposal that would extend the June 30th deadline by which buyers who took advantage of the $8K federal tax credit have to complete their home-buying transaction. The measure would extend the closing deadline to September 30th.
The real estate lobby is likely happy with this development. According to the National Association of Realtors, a good chunk of home buyers who took advantage of the credit bought homes that were either short sales or in foreclosure. As UT readers know, these transactions often take longer to close than the normal home-buying process. As such, many buyers are in danger of not meeting the June 30th deadline.
The measure is part of a larger tax-related bill that will likely be voted on later this week in the Senate, then would go to the House.
See other articles related to: federal tax credit
This article originally published at https://dc.urbanturf.com/articles/blog/senate_approves_extension_of_june_30th_tax_credit_deadline/2176.
Most Popular... This Week • Last 30 Days • Ever
Eights month after a new proposal to redevelop part of the Takoma Metro station was p... read »
The preferred mortgage product among most home buyers is the fixed-rate mortgage. How... read »
The development for four parcels at The Yards from Brookfield Properties and the Menk... read »
One of the more prominent features of the project will be a public plaza that will ru... read »
Foxhall is a DC neighborhood bordered by Reservoir Road, Foxhall Road, Glover Park, a... read »
To help home buyers and sellers both novice and seasoned, UrbanTurf is running a seri... read »
As home buyers get the itch to look for a home and start to venture out to open house... read »
The development will replace the 44,700 square-foot retail structure that was previou... read »
Plans for the New York-based eatery appear to be moving forward.... read »
The concept includes 14 lanes for bowling, a 1,200 person concert venue, a craft bar ... read »
With this weekend's DC houseboat tour a day away, UrbanTurf thought it only fitting t... read »
President Obama travels to Denver this morning to sign the stimulus bill that has bee... read »
In this week's installment of Ask An Agent, a reader wonders if there is a rule for h... read »
As The Wharf prepares to begin construction, DC's houseboat community heads to its ne... read »
In this week's installment of Ask An Agent, a reader asks a fairly common question th... read »
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!
Intro guides for first-time home buyers
Awesome and unusual real estate from across the DC Metro