The $8000 tax credit extension has passed the U.S. House & Senate almost unanimously and is headed to the President's desk for a signature.
Now the tax credit will be good for contracts signed no later than April 30, 2010 and closing no later than June 30, 2010. Additionally existing homeowners who have lived in a principal residence for 5 consecutive years out of the last 8 years - these will get a maximum $6500 tax credit.
There are some additional caps on income and some supposedly new anti-fraud measures (ha ha) in place as well.
You can read the full details of this extension at NAR's website.
This is great news for the real estate industry. Not sure how great it is for the national debt though. But I'd rather see the money going to the middle class than to Wall Street zillionaires.
---------------------------------------------------------------------------------------------------------------------
Rob Arnold - Your full service and investor friendly Realtor ® in Orlando and Central Florida.
407-389-7318 / 1-877-389-7318 www.SDRhouses.com www.WeBuyHousesFlorida.com
We sell foreclosure, short sale, and bank owned REO house home throughout Central Florida, metro Orlando, and the Space Coast. We sell and list Central Florida real estate and Orlando real estate. Free list of foreclosure and short sale houses available. Our firm also provides flat fee MLS listings, For Sale By Owner, and menu-based services in most parts of Florida including Orlando, Altamonte Springs, Longwood, Apopka, Kissimmee, Clermont, Casselberry, Sanford, Lake Mary, and Deltona.
;)
;)
Oh anti fraud measures? It is a shame we have to have that but some still think they need to steal from the taxpayers of America.