17
Sep
09

I Told Ya.

My newsletter dated August 19th predicted this.  My crystal ball said that not only will the First Time  Home Buyer Credit be extended, it would also be available to all buyers, not just the newbies.  And if Congress pushes through their new Bill then I’ll be a genius again.  Here’s a clip from my newsletter:

I’ve been getting a fair share of emails lately from those asking about the $8,000 tax credit that expires November 30, 2009.  Fair questions such as “Do non-married couples still qualify for the credit?” (yes) or “Can they use it for the down payment? (in some states, you can add to your down payment but you can’t replace it) and such.

But as we approach the deadline more are wanting to know exactly how much time they have left.  After all, we’re approaching the end of August and say you start shopping in September and that gives you about 90 days to close your deal (so get moving!).

However, my crystal ball tells me something different.  My crystal ball says Congress will extend the credit.  In fact, and this is where it’s a bit more hazy, my crystal ball says Congress will enact a homebuyer tax credit for everybody, not just for first timers.

In fact, there’s legislation brewing as you read this newsletter getting both proposals off the ground.  I’m fairly certain about the credit for first timers, not so sure about the credit for everybody.

I’ve been wrong before and no I don’t have Pelosi’s or Barney Frank’s ear, but I think I’m right on this one.  A lot of other people think the same.

Actually, there are several bills in Congress right now to get the tax credit passed.  One of ’ems gonna make it out of the gate.


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