If you think the home buyer tax credit is over and done with, think again...

Although the home buyer tax credit expired on April 30th, buyers with signed contracts have until June 30th to complete their purchases. With that deadline just around the corner an estimated 180,000 consumers are in jeopardy of missing the deadline and, as a result, missing out on their tax credit.

What's getting in the way of 180,000 new home owners qualifying?

This one's a no-brainer, bureaucracy! Due to consumers rushing to meet the April 30th deadline, causing new home sales to rise 15% in April, a huge backlog in the paperwork process was created making the June 30th deadline near impossible for almost two hundred thousand buyers. So, who's coming to save the day? You guessed it again, the bureaucrats! The Senate voted on Wednesday to allow consumers an additional three months to get their deals completed, giving them an extension from June 30th to September 30th.

Although a vote still needs to take place in the House of Representatives, it seems likely that the legislation will pass. So what does the National Association of Realtors have to say about it? Vicki Cox Golder, president of NAR, said, "These are not buyers who just entered into the market. These are buyers who previously met all the qualifications for the tax credit, but find themselves at the mercy of a work-flow jam with the lenders or other delays and might not be able to complete the purchase of their homes."

Want to know how your Senator's voted? Check out the roll call here.

Does your Realtor truly know what's going on in the ever changing real estate market? Professional knowledge and experience is what you need. Call Sean T. Shallis immediately at 1-800-295-5995 x.911 or contact us on our website to work with the "Market Makers" and get the deal you deserve!