First Time Homebuyer Tax Credit

Baltimore Home Sales Down in September 2010 by 19.4%

October 11th, 2010

Baltimore home sales were down in September by 19.4% over September 2009, with 1,706 homes sold versus 2,117 this time last year. At the same time in 2009, we had the First Time Homebuyer Tax Credit, which was originally due to expire September 30, 2009, before it was extended. The Baltimore County housing market took [...]

President Obama Signed Tax Credit Extension Into Law

July 2nd, 2010

This morning, President Obama signed the tax credit extension into law, helping about 180,000 buyers who were unable to settle by June 30, 2010 to hopefully receive their due tax credit. NAR reported that around 180,000 eligible buyers were unable to settle by the original deadline to no fault of theirs, causing them to lose [...]

Senate Passes Homebuyer Tax Credit Extension

June 30th, 2010

The Senate passed the homebuyer tax credit extension today, allowing those who were under contract by April 30, 2010 to move past the original deadline of today, June 30, 2010 to settle by September 30, 2010. NASDAQ reported this wonderful news a short time ago. The House voted in favor of the homebuyer tax credit [...]

Up to 180,000 Homebuyers May Lose Tax Credit if Not Extended

June 29th, 2010

Up to 180,000 homebuyers may lose the tax credit if the deadline is not extended past June 30, 2010 -- and not by any fault of those buyers. NAR reports that in Maryland, that number is around 2,630 homebuyers. This is due to waiting on short sales, foreclosures, or lender delays, none of which these [...]

Tax Credit Not Extended

June 25th, 2010

The tax credit extension bill did not pass in the Senate today. Those qualifying buyers who wish to receive the credit MUST close by next Wednesday, June 30, 2010.

Tax Credit Contract Deadline Passed

May 1st, 2010

The tax credit contract deadline passed last night at midnight, so buyers who may have qualified yet were unable to get a legally binding contract in place are no longer able to get the credit, even if they settle by June 30, 2010. Though I did see an increase in the Baltimore real estate market [...]

Tax Credit Ending Questions and Concerns

April 28th, 2010

Guest blogger, T Jeremy Loomis, Sales Manager for Wells Fargo Home Mortgage, talks of tax credit ending questions and concerns. Is it time to change how buyers view contract issues with the tax credit ending? Probably… We have seen a market recently that one would call a “buyers market”, where the buyer has more control [...]

Homebuyer Tax Credit Expires April 30

April 19th, 2010

The extended homebuyer tax credit deadline expires soon -- next Friday, April 30, 2010 to be exact. So what does this mean? Buyers who qualify and want to take advantage of the homebuyer tax credit need to have a fully executed and agreed contract BY next Friday, and settle by June 30. I expect this [...]

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