Buyer Tax Credit
25 January 2010
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The biggest news in the real estate market today is probably the extension and expansion of the tax credit for home buyers. The government has extended the up to $8,000 for first time home buyers. The term first time homebuyers is really not an accurate description because one qualication is that you must not have owned a home in the past three years. The new deadline is April 30th, 2010 (I have placed a countdown timer in the sidebar), however it has been revised that you must be in contract by that date and close within 60 days. This is a good boost for new buyers.
The expansion portion of the extension is that homeowners whom have lived in their homes for 5 of the last 8 years may qualify for an up to $6,500 tax credit. As with new home buyers, you must be under contract by April 30th and close within 60 days of then.
To view or download a flyer explaining more about the credit, just click here.
Should you have question or want to know how this can help you, please don’t hesitate to contact me by clicking the contact link at the bottom to email, or give me a call at
(206)818-4774
Have a wonderful day!