Home Buyer Tax Credit Extended
Minnesota home buyers that were taking advantage of the tax credit, but had a delayed closing due to short sales, foreclosures or other factors beyond their control can rest easy. The tax credit has now been extended through Sept 30 of this year. This should give buyers plenty of time to navigate through the short sale process or other delays they are experiencing. We experienced a lot of stress with last minute closing even though most of us felt the goverment had no choice but to extend. There were in excess of 200,000 home sales that would have fallen apart if the credit did not get extended. With the housing market slowing down considerably since the April 30th deadline it would have been a huge blow to the market if they did not extend. A link to the article on CNBC is below.