Home buyers in Maple Valley and across the Country got one step closer to getting the first home buyer's tax credit extended past the November 30 deadline.
The Senate has approved the Homebuyer Tax Credit and we now await a vote in the House of Representatives.
Industry experts feel it's likely the bill will pass and then will be signed into law by President Obama.
I haven't read the bill, but according to a release by the Washington Association of Realtors, the $8000 credit would be extended to April 2010 (sooner than the June date which had been floating around) and will also include a $6500 credit for buyers who have lived in their homes for at least 5 years.Whether they will need to purchase that home as a primary residence or be able to use the credit for investment properties remains to be seen.
Stay tuned!
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