Homebuyer tax credit expires Friday - NBC Right Now/KNDO/KNDU Tri-Cities, Yakima, WA |

Homebuyer tax credit expires Friday

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KENNEWICK, Wash--  If you haven't signed the paperwork yet - you're out of luck.  The first-time homebuyer tax credit ends at midnight Friday. 

We wanted to find out just how successful the program *really* was.  It gives first time homebuyers up to $8,000 and repeat buyers $6,500.  But with an already strong local housing market, did it make any difference? 

A Windemere real estate broker says it likely got people talking, but low interest rates also attracted homebuyers.

"We're at an average of about 5% right now, the lowest many of us have seen in history.  At least it's the lowest in the last 40 years," explains Dave Retter with Windemere.  "And that's what's spurred a lot of people to buy, you're (essentially) buying a lot more home."

Retter says we're on pace to have another above average year, almost as good as 2007--which was their most successful year to date.

 

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