NORTH Idaho Real Estate Pro


No Relief! Extension fails the Senate - Homebuyer Tax Credit Extension

 The Associated Press just announced:  Homebuyers tax credit extension fails

Home buyers already under contract for a home by April 30, 2010 will still have to close escrow no later than June 30, 2010 in order to receive the $8000 first time Homebuyer tax credit or the $6500 tax credit for repeat HomeBuyers.

Bill, H.R. 4123, if passed, would have given these Homebuyers an additional 3-months to close (September 30, 2010).

The vote was 57-41, three short of the 60 needed to beat a Republican filibuster.

According to the Associated Press article: Last week, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development announced home sales fell 53 percent in May for the 13 western states of the U.S. Nationally, home sales dropped 33 percent over the same time period.

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Contact:   Pam Jank, Realtor, ABR, GRI, CRS, RSPS, PPS
Previews Property Specialist
Web:  Coeur d'Alene Idaho Homes for Sale
Phone:  208-661-2282 Fax:  208-772-6282 Toll Free:800-829-2555 EXT.1275
1924 Northwest Blvd, Coeur d'Alene, ID  838314

ABR Designation - Accredited buyer's representativeGRI Designation - Graduate Realtor InsituteCRS Designation - Certified Residential SpecialistRSPS Designation - Resort & Second Home Property SpecialistPreviews Property Specialist Designation

Your North Idaho Real Estate Pro - Pam Jank


Pam Jank, CRS, GRI, ABR, CNE, RRS, Realtor(c)Pam Jank, CRS, GRI, ABR, CNE, RRS, Realtor(c)
Your North Idaho Real Estate Pro - Your Free Local MLS Property Search Link
208-661-2282 or Toll Free 800-829-2555 ext. 1275
Coldwell Banker Schneidmiller Realty
1924 Northwest Blvd, Coeur d'Alene ID 83814


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 Lake Coeur d'Alene

Comment balloon 4 commentsPam Jank • June 28 2010 05:01PM


This is disappointing.  I know we need to give our government a break from the expense of the tax credit but geez...we need it for our industry! 

Posted by Nicole Anderson, YOUR Community and Lake Expert (Lake Homes Realty ) over 8 years ago

This is going to have some backlash with buyers who might have been getting buyers remorse.  Though there are no guarentees in life the contracts are already written and the money already "budgeted" in Congress.  Just extend the closings and help the market move forward.

Posted by Pat Fenn (Marketing Specialist for CJ Realty Group/Cindy Jones Broker ) over 8 years ago

Pam, I received this news from one of my lenders last week and did a "short blog" on it....very disappointing because I had one that went south...not only because of this HOWEVER think they could have been persuaded to "hang in there" with the extension..that just put the icing on the cake!  I feel like Nicole..torn between both sides.

Posted by Alicia Gibson, Associate Broker, McLeRoy Realty Associates, Inc. (McLeRoy Realty Associates, Inc.) over 8 years ago

Way to be on top of it Pam.  Thanks!  -K

Posted by Kent Anderson, from Schweitzer to the Lake (Coldwell Banker Realty-Schweitzer Mountain, Sandpoint, Idaho) over 8 years ago