Home-Buyer Tax Credit Update: Senate Moves to Extend Closing Deadline

June 16, 2010

Update: On Friday, the Senate failed to get enough votes to end debate and pass the larger bill, called the American Jobs and Closing Tax Loopholes Act of 2010. What does this mean for the prospect of the tax-credit deadline extension? The Senate will need to twist a few arms to pass the entire package and send it to the House. There’s no guarantee, of course, that the House will include the tax credit amendment.

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Previous Blog...
Senate OKs Tax Credit Extension for Homebuyers
The Senate Approved a Plan to Extend the Period when Homebuyers Can Qualify for Tax Incentives until Sept. 30th



(AP) The Senate on Wednesday approved a plan to give homebuyers an extra three months to finish qualifying for federal tax incentives that boosted home sales this spring.

The move by Senate Majority Leader Harry Reid would give buyers until Sept. 30 to complete their purchases and qualify for tax credits of up to $8,000. Under the current terms, buyers had until April 30 to get a signed sales contract and until June 30 to complete the sale.

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YES means NO to taxes.... [Real Estate Transfer Tax]

Stop DoubleTaxation.... Protect Our Homes

Join with thousands of other Missouri residents and sign our pledge today to help mobilize friends and colleagues in support of a ballot initiative in 2010 to protect your property from a real estate transfer tax.

These states have it: Illinois, Iowa, Kansas and Arkansas... Missouri is surrounded. Let's stop it from coming to Missouri.

A real estate transfer tax :
• is a form of double taxation;
• lowers homeowner equity;
• negatively impacts the process of buying and selling a home; and
• unfairly targets property owners and lower income residents alike.

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Coldwell Banker sees growing trend in multi-generational homes

According to a June 8 Coldwell Banker Real Estate LLC survey of its professionals across Canada and the U.S., realtors in both markets reported that in the past year more home buyers are looking for properties that can accommodate more than one generation.

“The main reason is financial,” said Coldwell Banker Canada president John Geha, who Business in Vancouver caught up with late June 8.

“The second reason would be that...

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