Lately there have been a lot of rumors floating around about what will come of the tax credit for first time home buyers. Will it be extended? Will it be expanded to include all those that buy a home and not just first time home buyers? The truth is that at this point none of us know for sure.
But what is the possible backlash of all the rumors that the $8,000 first time home buyer tax credit will be extended or expanded? Isn't it possible that some buyers who would have bought a home will now sit back down on the fence to wait and see what will happen? For now all we know is that the credit is here now and it will expire December 1st.
But with members of Congress now introducing bills to extend and expand the credit, there are many people who wonder if they hold out longer will they get a better deal.
In the beginning the issue with buyers sitting on the fence was mainly centered around price. Prices were declining and buyers were waiting for the "bottom" of the market in an effort to get the best deal possible. Now could we be setting ourselves up for another reason to sit back on that fence and see what else the Government will throw their way?
At some point this will all have to come to an end and there will be no more tax credits. As for now no new tax credits have been passed and the current first time home buyer credit will come to a close the first December of this year.
Columbia, SC Real Estate
JL Boney, III - Columbia, SC Realtor - Coldwell Banker Residential Real Estate
I specialize in Columbia, SC real estate and the surrounding areas, including Blythewood, SC, Kershaw County, Fairfield County, and Lexington, SC. If you are in the market to buy or sell a home in Columbia, SC or any of the surrounding areas, I would love the opportunity to speak with to see how I can help. Thanks for reading and feel free to contact me if I can be of service to you.
Office- 803-788-1450 Cell- 803-730-9601 Email- James_Boney@Yahoo.com