Extending the Tax Credit into 2010Monday, February 1st, 2010
An extension to the popular First Time Home Buyer Tax Credit has been put in place – to take advantage of this tax credit buyer must be under contract by end of April 2010 and close the sale on or before end of June 2010. this extension has given a positive boost to home sales.
The First Time Home Buyer Tax Credit of up to $8,000 is for home buyers who sign sales agreements by the end of April, and close by the end of June. Additionally, this tax credit has been expanded to reach repeat buyers who have owned their current homes for at least five years – these current home owners can take advantage of a reduced credit of up to $6,500. For more information on the First Time Home Buyer Tax Credit click here.
I have noticed an increase in listings coming through reported “pending” – especially, in the price range of $200,000 to $300,000. Interest rates remain at an all time low and as the available inventory of homes for sale diminishes, the prices of homes will rise. The old rule of “supply and demand” is still key.
For current update reports of closed sales in your area, please contact me. I specialize in saving my clients time – SAVE TIME ONLINE!