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Will the $8,000 Tax Credit be Extended?

You can’t “shop ‘til you drop” for a home… that’s because time is running out on the $8,000 tax credit.

Clock-pocketwatchUnder the current bill, you must buy and SETTLE before November 30, 2009 in order to qualify… that gives you about 2–3 more weeks max for finding that home, because it will take a few weeks after that to get your contract ratified and all the various inspections, appraisal, title work, etc.

Eligibility is limited, under extension legislation recently introduced by House Ways and Means Committee Chairman Rangel (D-NY), to first-time home buyers who have served in the military, Foreign Service or in the U.S. intelligence community outside the United States for 90 days or more during 2009.

Other legislation has been introduced in the Senate to extend the credit for six months (by our own Senator Ben Cardin, along with Harry Reid and Johnny Isakson) but all revenue measures must originate in the House.  In other words, this is all show with no possibility of going anywhere.

The $8,000 tax credit may be extended, but there’s no guarantee you will be eligible if it is.  And that’s a big “IF” – so why risk it?

You’ll find links to several communities in the Greater Crofton area in the left column of this website, and a “Search for Homes” tab at the top of the page.  It couldn’t be any easier for you to get started right now.

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Providing community and real estate information about Crofton Maryland and other nearby communities is my way of attracting new D.C.-Baltimore area home buyers while also keeping current residents informed and earning their real estate business.  Please click on Margaret Woda, Crofton REALTOR or call/text me at 301-346-2923 for help with your next home sale or purchase in Annapolis, Bowie, Crofton, Crownsville, Davidsonville, Fort Meade, Gambrills, Millersville or Odenton, Maryland.

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