I wanted to pass along the following information to you:

“The Senate failed to get enough votes to bring up the so-called 'Tax Extenders' bill which also contained the extension of the deadline for closing deals on the home buyer tax credit.  The chance of getting an extension before the June 30 deadline has become much more slim. We will check with legislative contacts to see if any other efforts are afoot, but once again, our advice is to try to close as many tax credit eligible deals by COB June 30 as you can.  This bill also contained the flood insurance extension.  However, the House of Representatives has passed a stand-alone bill on flood insurance and NAR is making a full court press to get the Senate to also pass that legislation ASAP.”

 

As for myself, I think the tax credit was a great incentive except for the buyer pool in my coverage area since most of my buyers' income exceeded the requirement. That said, I did have some move up buyers take advantage of the tax credit and the buyers who purchased their property did benefit  from the incentive.  

The market here in Winchester, Lexington, Belmont seems to continue to be strong towns for investments and places for people to call home!

If you, friends, relatives, or colleagues are considering buying or selling a home, condo, or land, please consider contacting Sven for assistance in your search. Sven coverage area includes: Winchester, Belmont, Medford, Woburn, Lexington, Arlington, Melrose, Stoneham, and Reading.  We also offer a complimentary referral service, called "Anywhere Agents," to assist folks who are looking to buy or sell outside our coverage area, including international locations. We will interview prospective agents in the area(s) you or a family member are considering to assure you get the most knowledgeable Real Estate Professional to assist in your home buying/selling needs.