Colonial houseThe senate is expected to vote today or tomorrow on a bill that extends the $8,000 tax credit for first-time homebuyers.

 

The credit is due to expire on November 30, and would be extended until April 30 and expanded to include more affluent homebuyers. People who have owned a home for at least five years would also be eligible for a $6,500 credit if they move!

 

This is great news for the real estate market when the bill passes.  The good part is it will include ALL homebuyers.

 
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6 Comments on Tax Credit Expanded and Include Current Home Buyers??

NOV
05
832,166 Points 213 Featured Posts Localism Sponsor Outside Blog Hit Router

Not all.  If the consumer owned their present home for less than five years, they wouldn't be elegible.  A nonsensical barrier, IMO.

 
6:35am • #1

I think all this does is create excess inventory.   Silly government -- business is for free markets.
6:37am • #2

I'll be glad when we have a definite version. I've heard so many rumors. Thanks for the update.
8:52am • #3
NOV
07
197,227 Points 3 Featured Posts Localism Sponsor Outside Blog

Lenn:

You are right.  Watch for my post with the details.

Brigita
10:58am • #4
197,227 Points 3 Featured Posts Localism Sponsor Outside Blog

Epcon Communities:

We will all be paying for it in the long run to pay off the deficit. 

Brigita
10:59am • #5
197,227 Points 3 Featured Posts Localism Sponsor Outside Blog

Amy:

Stay tuned to my blog for details on the tax credit.

Brigita
11:00am • #6

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Brigita McKelvie - Lehigh Valley, PA, Residential, Rural & Horse Properties

Nazareth, PA

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