First-time home buyers have been eligable for tax credits of up to $8,000 since January 2009, as part of the economic stimulus package enacted earlier this year. And as you may know, the current program is scheduled to expire at the end of November 2009.

We're pleased to report the House voted 403-12 Thursday to extend and expand the tax credit to include many buyers who already own homes.

The Senate approved the measure Wednesday, and the White House said the current President would sign it Friday.

Buyers who have owned their current homes at least five years would be eligible for tax credits of up to $6,500. First-time home buyers - or anyone who hasn't owned a home in the last three years - would still get up to $8,000. To qualify, buyers in both groups have to sign a purchase agreement by April 30, 2010, and close by June 30.

The credit is available for the purchase of principal homes costing $800,000 or less, meaning vacation homes are ineligible. The credit would be phased out for individuals with annual incomes above $125,000 and for joint filers with incomes above $225,000.

For members of the military serving outside the United States for at least 90-days, the credit would be extended additional 12-months, until June 30, 2011.

Though the sense of urgency may have dimenshed, for the time being, just know that we remain ready, willing and able to help you find your way home.

Click through the New Home Search banner bellow to access the Pinehurst MLS Power Search to discover all available listings matching your particular wants and needs.

Thank you for your interest and the privilege of serving you!

With our highest regard,                                                           

Wayne and Lynda Gomillion
Trusted Names in Real Estate

"The friendship and referrals of those we serve is the foundation of our success." 

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