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House OKs extension of tax credit closing deadline

by Eric Bushnell

House OKs extension of tax credit closing deadline

Senate could vote Wednesday

By Inman News, Tuesday, June 29, 2010.

Inman News

In a 409-5 vote, House lawmakers have passed a standalone bill that would extend for three months Wednesday's deadline for closing on a home purchase in order to claim the federal homebuyer tax credit.

The Senate could vote on the bill, HR 5623, as soon as tomorrow, although the death of Sen. Robert Byrd, D-W.Va., has slowed the pace of work in that chamber.

Without an extension, the National Association of Realtors estimates as many as 180,000 homebuyers who were under contract by April 30 may miss the June 30 closing deadline, including 17,700 in California, 15,340 in Texas, 14,830 in Florida and 9,130 in New York.

"Keep your fingers crossed," said Lucien Salvant, an NAR spokesman, who said prospects for quick passage of the bill are mixed.

While some observers think HR 5623, "The Homebuyer Assistance and Improvement Act," could sail through without further delay, there's no guarantee it will come to a vote, Salvant said.

The Senate is already on record supporting an extension, having amended a bill on June 16 to push the deadline back to Sept. 30. But other provisions of that bill, the "American Jobs and Closing Tax Loopholes Act of 2010," have proved controversial, prompting House lawmakers to introduce a standalone bill.

Great Compliment

by Eric Bushnell

Sorry I have been away from my computer over the last couple of weeks and have not had the time to send a virtual update to everyone. 

I did receive a compliment via another Realtor about our company and thought I would tell you about it.  In this case we had a listing next door to the other licensees, and yes they work for a different brokerage.  The sellers were of course friends and spoke to each other on a regular basis.  Our seller was telling his neighbor about the reports we were sending to him on a daily basis, which he then complained to his Realtor about.

The Realtor came to us wanting to know what we're sending and why are we making them look bad (yes we are friends with our competition).  We explained to them that we were just keeping them up to date on the local market.

Here's the real story and why is it important to you.  See here at Prudential Jack White Vista Real Estate we have a great tool called Online Sellers Advantage (OSA).  OSA keeps seller informed of all market activity near their home.  The receive daily updates on price changes and any new competitors that may have come on the market.  They can see when other homes are pended (sold ). This is a vital tool and or sellers really like this information. 

The reports also show how many people have looked for a home in their price range and then it shows them if the prospective buyers actually looked at their home.  This tool shows you when more buyers have entered the market, or if someone really likes your home and has saved it as a favorite.

Our seller was very happy with this information and was very happy with our service as we help prospective buyers find his home.  This eventually lead to a sale and a very happy seller became homeless, which in this case was a great thing.

If you have questions about Online Seller's Advantage please give me a call and I will show you why it is a tool that will work for you.

Displaying blog entries 1-2 of 2

Contact Information

Lee Realty, LLC
Lee Realty, LLC.
5050 Dunbar Drive #F
Wasilla AK 99654
Office: 907-376-0119
Fax: (907) 376-4039

 

 

 

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