Saturday, December 26, 2009

Tax Credit Extended AND Expanded

Due to the overwhelming success of the First Time Home Buyer $8000 Tax Credit in stimulating the housing market, the Federal Government has extended it into the spring 2010. First Timers must be under contract on a home by the end of April and must close by the end of July to get the $8000.
Even more exciting, the credit has been expanded to other buyers who are selling a home (must have owned it for 5 out of the past 8 years) and repurchasing another home. They will be in line for a $6500 credit. This will help to offset equity losses that current homeowners have suffered over the past couple years.
If you fit either of these buyer scenarios, contact me NOW to start the process of selling your current home and/or looking for a home. Don't wait too long because we expect the Spring Market to start early this year (January) as many will be trying to make the deadlines to qualify for the Tax Credits.