The Senate voted Wednesday to extend the current $8000 Homebuyer Tax Credit from November 30, 2009 to April 30, 2010. Not only will this apply to the current 1st Time Homebuyers who have not owned a home in the last 3 years(as is the current Homebuyer Tax Credit) but existing homebuyers who have lived in their current residence for the last 5 years will qualify for a $6500 tax credit as well!
The House will be voting on this extension Thursday, November 5, 2009, once it passes the House and is signed by the President, this extension will take effect! Any homebuyer (who falls under the guideline requirements) who has a purchase and sale agreement signed by April 30, 2010.
This is great news not only for homebuyers, but for homesellers as well! As this extension is hoped to further spur the housing market to recover from the housing market crash. Home prices are expected to steadily climb as they have done in the past 3 months; good news for homeowners!
Act fast, many experts believe that this will be the last extension we see for a homebuyer tax credit!
Kristin Laurandeau
Market Pro Real Estate
http://www.tvhomes4you.us
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