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If you've been thinking about purchasing a home, now is the time to talk to the professionals in the industry. President Obama has signed the extension & expansion of the Homebuyer's Tax Credit. This action represents a tremendous step forward to stablizing the housing market. Contract to Purchase must be signed by April 30, 2010 and Close by June 30,2010 What this means to you, the tax credit is based on 10% of the purchase price with a maximum $8000 credit for a first time homebuyer. If you lived in your present home for at least 5 years but want to relocate your tax credit is a maximum of $6,500. There are income limits so give me a call to discuss further. You should know the Bill passed unanimously in the Senate & in the House the vote was 403 to 12. The credit does not require repayment as long as you stay in your new home for 3 years. |
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