Homebuyer Tax Credit

It's Official.

The First Time Homebuyer Tax Credit has been extended through April 30, 2010, and that's great news for you whether you are buying or selling. On the heels of an improving market, there really is no better time to take advantage of an incentive like this.

The new Tax Credit is similar to its predecessor only the government has expanded the program and sweetened the pot. Initially, only First Time Buyers were eligible for the $8,000 credit, contingent on the purchase of their first home. That opportunity is still available, but now there is a new incentive: $6,500 for existing homeowners who purchase a new home provided they have lived in their current residence for at least five years. Income limits also have been increased, so more borrowers are eligible. Homebuyers must close by June 30, 2010.

Need help establishing your qualifications? As your REALTOR®, I can help you determine how to successfully take advantage of these incentives. Whether you're looking to buy your first home, sell or move up, I'm here to offer you candid advice on market conditions, and of course the updated Homebuyer Tax Credit.