David Bruce

April 19th, 2010

Will The Homebuyer Tax Credits Be Extended?

Many in the Richmond area are are wondering whether the First Time Home Buyer Tax Credit (set to expire May 1, 2010) will be extended later into 2010 or even all the way into 2011.  All indications point to no. However, Congress and the President could always change their minds, but as of now, there are no plans to extend the First Time Home Buyer Tax Credit to 2011. It seems like the focus of the government has shifted to healthcare and other issues and away from the housing market.

There is a big debate as to what effect the expiration of these tax credits will have on the area real estate market.  Timing is probably pretty good as we are entering a historically busy time of year for area real estate.  Spring and early Summer usually produces a surge of home sales around Richmond.  Interest rates are also at low levels which continues to help the market.

Interested in more insight into the Richmond area real estate market?  Contact Skye Bruce Properties.  Our Agents are market experts and can help you make the right decisions whether you are buying or selling a Richmond area home.  Email Skye Bruce Properties or call 804-467-7041.

This entry was posted on Monday, April 19th, 2010 at 9:06 pm and is filed under Real Estate News and Statistics. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Leave a Reply