BrokerageIndustry News

The end of the tax credit

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These last few months after the extension and expansion of the federal homebuyer tax credit program have been interesting. Last fall I was in a panic because I had two closings that did not seem like they would make the deadline for the first-time homebuyer tax credit, but we got lucky and the deadline was extended. My buyers were relieved we had worked hard to beat the deadline. This year it seems like the homebuyer credit just kind of sat out there and people did not get too interested in it until February or so. There was some activity in November that was left over from October but not a lot. It could be because of the weather in these parts or maybe it was part of the general malaise about the economy. This month has been very busy. I have literally had people call with a sense of urgency about buying a home. Unfortunately, none of my sellers have been eligible for the tax credit. My sellers have either not owned their homes long enough or have not lived in them lon...