Bristow, VA - Homes for Sale in Bristow, Virginia - Homebuyer Tax Credit

For buyers who have been looking at homes for sale in Bristow, VA here is the status of the Homebuyer Tax Credit:

Homebuyer Tax Credit has not only been extended, but it has also been expanded to include current homeowners. The following are features of the new bill

Deadline for current credit is November 30, 2009

New Deadline for Homebuyer Tax Credit is April 30, 2010, as long as the home is under contract by that date. Must close within 60 days

Eligibility and amount of new credit:

$8,000 for first-time homebuyers (those who have not owned a home in the last three years).

Up to $6,500 credit for homeowners who have lived in the home they are selling, or have sold, as a principal residence for five consecutive years in the past eight.

Buyers with income exceeding $125,000 for single and $225,000 for married couples are not eligible.

Homes valued at more than $800,000 are also ineligible.

Linda Coffey, Realtor®
Long & Foster Realtors

7526 Limestone Drive
Gainesville, VA 20155

Licensed in the Commonwealth of Virginia

(703) 973-2676

LCoffey@LNF.com

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