Realtor.org's article released today, says the home buyer tax credit is close to final approval and signing. The Senate has passed the new version, and the House and President are expected to approve it as well. Here are the high points:
- Extended to May 1, 2010
- $8000 for first time buyers
- $6500 to repeat buyers with limitations on time of residence
- Home price capped at $800,000
- Income limits now $125k individuals and $225k joint filers
- Reduced credits for $145k individuals and $245k income joint filers
- Contracts in place by April 30 will get 60 days to close
May the next flurry of activity begin!
Yes like all other I am also waiting for this approval. Lets see in April how markets reacts to it?
The new extended and extended Homebuyer Tax Credit is in effect as of November 7. Visit my site http://zannavaida.realtyusa.com for the informational chart provided by the National Association of Realtors.
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