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Senate Hit a Homer for New Buyers and Move Ups

As predicted, the Senate approved the extension of the Home Buyers Tax Credit until April 2010.

The approval is as follows:

$8,000.00 for 1st time buyers
added $6,500.00 for "Move-up" buyers
An increase in qualified incomes were doubled from $75,000.00 to $125,000.00 for a Single purchaser and from $150,000.00 to $225,000.00 for Couples.

The extension passed the Senate 98 to 0...a true bipartisan message.

The extension is expected to pass through the House with haste and be "rubber stamped" by President Obama by this weekend.

Bravo to the Dems and Elephants for getting on the same page.

Take Action on this opportunity.

Kris Darney

Posted by Kris & Kim Darney on 11/05/2009 01:28 AM

Comments (2)

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2 Comments on Senate Hit a Homer for New Buyers and Move Ups

NOV

This may actually open up a segment of the market that the first timers just could not reach. Move ups may absorb a chunk of the overhang and help pricing stability across the board.

Dave,

Brilliant thought.

It does make sense that this will affect pricing stability. Let's get this through congress and test your theory.

Best,

Kris

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