I’m very proud to say that I’m a member of the National Association of REALTORS, but sometimes a large organization can make decisions in a vacuum.
Don't wait now, the Real Estate Tax Credit will stop on April 30. (Remigiusz Szczerbak/sxc)
I’ve had about a dozen calls in since the first of April asking: “How long has the tax credit been extended for?”
Contrary to what the recent advertisements from the National Association of REALTORS makes you believe — the tax credit has NOT been extended again and all signs are that it will not be.
The ads were created shortly after the extension of the program that was set to expire in December 2009 and unfortunately are still running today. When we are sitting less than 30 days from the expiring of this tax credit I can see how it would be confusing.
“NAR has had extensive discussions with our congressional allies and concluded that an additional extension of the tax credit is unlikely,” wrote 2010 NAR President Vicki Cox Golder. “While lawmakers recognize that the tax credit helped stabilize the market, it appears that much of the benefit has been realized.”
So if you are planning to wait out this tax credit for the next one, then you’ll be out-of-luck.
