Congress Passes Tax Credit Extension/Expansion

I am VERY excited to report that Congress has answered our call to extend and expand the homebuyer tax credit!

Both the House and the Senate have passed an unemployment insurance bill, which includes an amendment that expands and extends the tax credit.  That bill will be sent to President Obama for his signature in the next day or so.

I have recorded a special edition of my President’s Podcast, with details on the new tax credit and when it takes effect.  Please take just a couple of minutes to listen.

https://www.realtor.org/about_nar/presidents_report/_podcast_archive/mcmillan_taxcreditextended_20091105

We also have posted a comparison chart on Realtor.org.  This can be a helpful resource as you work with buyers to take advantage of the credit in the months ahead.

https://www.realtor.org/fedistrk.nsf/files/government_affairs_tax_credit_ext_chart_110409.pdf/$FILE/government_affairs_tax_credit_ext_chart_110409.pdf