It seems there may be some time for the tax credit as an extension till June of 2010. According to Money.com (http://tinyurl.com/yk452z6), the tax credit was used by 1.8 million homebuyers and 355,000 who would not have purchased a home without it. That’s around 20% where the tax credit has stimulated home purchases. 20% is a fantastic number that shows that a tax credit is a great incentive.

The current November 30, 2009 deadline is indeed stressing some potential home buyers out and the proposed deadline of June 2010 alleviates some of that stress. However, our blog article of “Home Buying: When Hesitating Costs You $8000″ says that it is at least a 3 month process to accomplish the details of a regular home buying process. So, if the tax credit deadline does get extended till June, you should start looking by March at the latest, which is still plenty of time right now. Have a decision by February 2010. If you have not started the home buying process, don’t expect to make the November deadline.

This extension may also help you to buy a more valuable home and a bigger bang for your buck as housing prices in some markets increase. So, watching the housing market is very important.