For those of you who were bummed that the $8,000 Federal Tax Credit expired, read the article below.  There's great news!!!!  The Federal Tax credit has been extended...

 

WASHINGTON (Reuters) - The Congress on Wednesday approved a bill
extending the closing deadline for homebuyers trying to take advantage
of a popular tax credit.
 
Homebuyers with contracts signed by April 30 who failed to go to closing
by the June 30 deadline will now have until September 30 to complete
their purchases. The House of Representatives on Tuesday approved the
bill and it now goes to President Barack Obama for his signature.
 
The $8,000 tax credit for first time homebuyers and $6,500 credit for
others purchasing a new primary residence was a highly popular temporary
measure by the Obama administration to jump start home sales during the
economic recession.
 
Real estate agents said thousands of homebuyers would miss the June 30
deadline because banks and settlement offices were struggling to deal
with the volume of people rushing to close on their deals.
 
"In addition to helping thousands of families experience the American
dream, this successful and popular program provides a much needed boost
to Nevada's housing market and economy," Senate Majority Leader Harry
Reid said in a statement.
 
Reid, a Democrat, faces a tough re-election fight in Nevada, where the
U.S. foreclosure crisis is most pronounced.
 
The Senate acted separately on the tax credit extension after another
bill that included both the homebuyers measure and an extension of
jobless benefits for the long-term unemployed was blocked by
Republicans.
 
The jobless aid bill fell one vote short of the 60 needed to overcome
procedural hurdles in the 100-member Senate. Republicans objected to the
$34 billion cost of the bill.
 
The Democratic-backed bill would have extended the federal jobless aid
program through November. Senate Republican Leader Mitch McConnell
offered a two month extension that was paid for by using unspent money
from last year's economic stimulus program and Democrats objected.
 
Reid said he would try again to pass the jobless aid bill after the
Senate returns from the July 4 holiday recess.
 
(Reporting by Donna Smith; editing by Anthony Boadle)