Saturday, November 7, 2009

Homebuyer tax credit extended & expanded

This big announcement has garnered so much press in the past couple of days that I didn't see the need to post it myself, but then I realized that I shouldn't assume you may have heard it elsewhere.

This past week, Congress passed, and the President signed a bill authorizing an extension of the $8K tax credit for first time homebuyers. Better yet, they increased the income restrictions so that more people qualify and they added a $6500 credit for some existing home owners who want to buy a new home.

The current credit was due to expire at the end of this month (Nov. 30, 2009). That deadline has been extended until April 30, 2010. This is obviously good news for a lot of people.
Click here to download a PDF file published by the National Association of Realtors, which outlines the stipulations and differences between the expiring credit and the newly expanded credit.
Still have questions? Give me a call for a no-obligation consultation regarding the potential for you to take advantage of this windfall. 206-708-9800.

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