So now parties have until Sept. 30 to close, which means the short sale window is about five months. It's still a small window, but it opens up the possibility of a tax credit to many who never even expected to get one.
For instance, we have many short sale clients who had very little intention of falling within the tax-credit window, who now are the beneficiaries of up to $8,000 in tax benefits. On the other side, there were clients who barely met the June 30 deadline after much angst and hours upon hours of negotiation and effort.
Like the French poet Jean de La Fontaine said, "Patience and time do more than strength or passion." Those are words to live by in today's real estate marketplace.