Recently, the
President signed a bill that
included a new tax credit for both first-time and repeat
homebuyers. This new legislationis very positive news, and will help stabilize
the economy and allow even more Americans to invest in
homeownership.
The new tax credit is an improvement over the existing
one which expires on Nov. 30.
Some of the enhancements it includes are:
* The $8,000 tax credit for first-time buyers has been
extended through April 30, 2010.
* Current homeowners are eligible for a $6,500 tax
credit through April 30, as long as they have lived in
the home they are selling as a
principal residence for five consecutive years out of
the last eight years.
* Time has been added to allow for closing the home
purchase. As long as buyers have a binding contract by
April 30, they will thenhave
until June 30, 2010, to close the transaction.
* Income limits for eligible buyers were increased to
$125,000 for single buyers and $225,000 for couples
The passing of this legislation is very positive news
for anyone looking to buy or sell a home. Both
first-time and move-up buyers cannow take advantage of the new tax credit in
addition to today's historically low interest rates.
To get more
information about this important home buyer program,
register to attend WEICHERT, REALTORS® - Caton
Properties Home Buyer Seminar. To register for this
program,
Click Here
