Brothers Derek and Chad Ogle signed contracts this year for new homes in the same development, thinking they'd get the $8,000 tax credit for first-time buyers.
But Ryland Homes, which started construction on the Harford County townhouses last month, says they aren't slated to be done until December - just after the credit is due to expire.
Industry experts are warning that it's probably too late now to buy a new home and get the credit unless construction is already well along. A contract isn't enough. New-home buyers must occupy their homes by Nov. 30, the Internal Revenue Service says, and they can't do that until work is complete.
Even some of the buyers who signed on the dotted line in the spring and early summer - as the Ogles did - could end up out of luck.
"Unfortunately, a lot of the delays in construction are not within the builder's control," said Jerry Howard, chief executive of the National Association of Home Builders. "There are permitting delays, there are inspection delays, there are supplier issues, and very, very frequently ... there are issues with the customers not making decisions quickly enough."
Homebuilders across the country are lobbying senators and representatives - by telephone, mail, e-mail and in person - to restart the clock. The national trade group is asking Congress to extend the credit 12 more months and make anyone eligible as long as they're buying a primary residence.
A number of extension bills were introduced before Congress took its August recess. The homebuilders' campaign has stepped up a notch since elected officials returned to Washington this week.
"We're pushing full-bore," Howard said. "A broader credit will have a much bigger economic impact."
Mid-Atlantic homebuilders put on a teleconference Thursday to "urge policymakers to revive the housing market," in part by extending the credit. The Home Builders Association of Maryland, meanwhile, is pressing for a $15,000 tax credit for anyone with a household income of $500,000 or less - even those buying homes that won't be their primary residences. John E. Kortecamp, executive vice president of the state group, notes that the current credit started out as $15,000 in the Senate and dropped to $8,000 after differences in stimulus plans were ironed out with the House.
"We want to go back to the $15,000 number," Kortecamp said. "We've been meeting with our delegation in their offices."
