NAR Won't Seek Tax Credit Extension!
NAR won’t seek extension of expiring homebuyer tax credit
WASHINGTON – April 5, 2010 – Saying it believes the extended and expanded federal homebuyer tax credit “is going to do the trick,” a spokesman of the National Association of Realtors® confirms that the trade group will not lobby legislators for another renewal of the program.
“It’s developing right now that it’s going to have the same kind of surge that the last one had in November,” notes NAR spokesperson Lucien Salvant. “When it got down to the deadline on the tax credit, there was an upsurge in pending home sales.”
The incentive of up to $8,000 for first-time buyers was extended from its original expiration date of November 2009 to April 2010 and widened to include a tax break of up to $6,500 for repeat buyers.
While NAR apparently is satisfied with the impact of the tax credit, Salvant said the organization would be “happy to look at” a bill to further extend the program should a lawmaker draft one.
Source: The Hill (03/31/10) Heflin, Jay
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