The move up tax credit - 11/13/09 09:49 PM
One feature of the extension of the first-time homebuyer tax credit is expanding it to so-called move up buyers.  Many seem to refer to it that way.  For those who have owned and lived in a home for five out of the last eight years, they are eligible for a tax credit of up to $6,500 when they buy a home in the next few months.  (Don't ask me to explain the logic of five years and not four years.)
But as I read it, there is nothing requiring them to sell a home.  And there is nothing requiring them to … (2 comments)

Oh by the way - the big news on the tax credit extension - 11/06/09 04:35 PM
The extension of the first-time homebuyer tax credit is almost certain.  As of this writing it has passed both houses of Congress and President Obama is expected to sign it.  The extension of the tax credit will help many who were not able to find something in time to close by Nov. 30.  And during the slow colder months there are often some good buys out there.
With the extension, first-time buyers can now take a look at new construction again.  And with more time, buyers can once again consider buying short sales.
But there is a oh-by-the-way that can be … (2 comments)