Home Buyer Tax Credit Extended and Expanded!
http://www.WomensJournals.com/articles/443/1/Home-Buyer-Tax-Credit-Extended-and-Expanded/Page1.html
Deborah Colanino
By Deborah Colanino
Published on 12/5/2009
Home Buyer Tax Credit Extended and Expanded!
As part of its plan to stimulate the US housing market and address the economic challenges facing our nation, Congress has passed new legislation that extends the first time homebuyer tax credit of up to $8,000 to first time buyers until April 30th 2010.
Congress also expanded the credit to grant a $6,500 tax credit to current homeowners purchasing new or existing homes from November 6, 2009 through April 30th, 2010.
Of course these are just the headlines. There are many details that go along with these programs and it is important that you consult a tax advisor for a better picture of how this will work for you. But suffice it to say that this is good news. Those of you who have been sitting on the fence about buying your first home or selling your current home and buying another should really explore the housing market now.
Consider this:
• Housing prices are at their most affordable levels in decades.
• Buying your first home now almost guarantees an increase in value over the next 5 years.
• Take advantage of the low money down and no money down programs that still exist for first time buyers!
• Selling your home now may net you less than it would have 3 years ago, but you will also PURCHASE YOUR NEW HOME FOR LESS!
• Interest rates are at an historic low…. waiting for your home value to go up will most likely mean interest rates will go up as well!
• Tax incentives have never been better, and they both expire on April 30, 2010!!
I have over 20 years of experience in the Real Estate and Mortgage industry and access to all of the important information that is involved in obtaining a mortgage and qualifying for these great tax credit opportunities!
Congress also expanded the credit to grant a $6,500 tax credit to current homeowners purchasing new or existing homes from November 6, 2009 through April 30th, 2010.
Of course these are just the headlines. There are many details that go along with these programs and it is important that you consult a tax advisor for a better picture of how this will work for you. But suffice it to say that this is good news. Those of you who have been sitting on the fence about buying your first home or selling your current home and buying another should really explore the housing market now.
Consider this:
• Housing prices are at their most affordable levels in decades.
• Buying your first home now almost guarantees an increase in value over the next 5 years.
• Take advantage of the low money down and no money down programs that still exist for first time buyers!
• Selling your home now may net you less than it would have 3 years ago, but you will also PURCHASE YOUR NEW HOME FOR LESS!
• Interest rates are at an historic low…. waiting for your home value to go up will most likely mean interest rates will go up as well!
• Tax incentives have never been better, and they both expire on April 30, 2010!!
I have over 20 years of experience in the Real Estate and Mortgage industry and access to all of the important information that is involved in obtaining a mortgage and qualifying for these great tax credit opportunities!