From left: President of Century 21 NY Metro Marc Lewis, Brown Harris Stevens broker Justine Bray, tax attorney Robert Ladislaw
The end is near — that is, tomorrow — for first-time homebuyers seeking a federal tax credit introduced by Pres. Barack Obama last winter to deal with the housing downturn. Though the tax credit officially expires at midnight Nov. 30, many brokers have imposed an unofficial deadline of Sept. 1 for their buyers who want to take advantage of it. The reason is that it can take up to three months to finalize a sale, between contract signing and closing, and brokers want to play it safe. But instead of rushing to buy homes before the Sept. 1 deadline passes, as is the case in other parts of the country, many New Yorkers have spent the last few days simply shrugging their shoulders. More
