Chandler Real Estate - Senate agrees to extent Home Buyer Tax Credit!
The Senate passing an extension greatly increases the possibility that there will be an extension to the $8,000 First Time Home Buyer Tax Credit set to expire on Dec 1.
Even though there is agreement among the Senators, a bill to extent the credit has not been approved yet. Also, once the extension bill is passed in the Senate, it still needs to be approved by the House and signed by the President to be come effective.
There is a difference in this tax credit extension - First-time home buyers are eligible for up to $8,000 on the tax credit, which is the same as the current credit. The Senate version of the bill creates a new credit of up to $6,500 for homeowners who have lived in their homes for five years.
That provision would start on Dec. 1.
http://www.msnbc.msn.com/id/33522046/ns/business-real_estate
Posted by: Dora & Vincent Kwok - Chandler AZ Real Estate Agents with
Home Smart Real Estate. We specialize in Chandler Real Estate and other
Southeast Valley homes (Ocotillo,Gilbert, Mesa, Tempe, Scottsdale, Queen Creek).
We can be reached at: Dora@KwokProperties.com or (480) 252-3396.
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