The House Passes Tax Credit Extension

This would give more time to all of the buyers in contract to by short sales.

Reuters reports House backs homebuyer tax credit extension

The U.S. House of Representatives on Tuesday approved giving extra time to thousands of homebuyers trying to get a popular federal tax credit by the end of the month.

The House backed by a vote of 409-5 a measure to extend the closing deadline to Sept. 30 for buyers who already met the April 30 deadline to have a signed contract. The current deadline requires those buyers to close the transaction by June 30 to receive the $8,000 tax credit for first-time homebuyers.

The Senate must still approve the measure before President Barack Obama can sign it into law.

Senate Majority Leader Harry Reid sought earlier this month to attach a companion proposal to a separate effort to extend insurance benefits to unemployed workers but the overall measure was rejected by the Senate.

Reid is expected to find another way for the Senate to consider the popular measure, though it remains unclear precisely how he would do that.

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I am a longtime real estate agent who has pretty much seen it all during the housing boom as bust. With experience in selling high-end property and low-end foreclosures, raw land, short sales, development work, apartment buildings, and working with investors, I bring a well-rounded perspective to my work.I also have started to do some paid real estate consulting. If you have questions or just need some good real estate advice, book an appointment at http://whattodorealestate.com/In addition to selling real estate, my insights have been featured in The New York Times, The Big Picture, and regularly on Patrick.net. I have also done consulting work with ForeclosureRadar.Starting my career, in 2003, I have sold homes throughout Alameda and Contra Costa counties, specializing in Danville, Alamo, Blackhawk, San Ramon, Dublin, Pleasanton, Walnut Creek, Lafayette, and Orinda. I live in Danville with my three kids.


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