Long Beach Housing Market

Tax Credit for Home Buyers
December 8th, 2009 3:29 PM
If you didn't get the message already, let me confirm that the Federal Tax Credit for Home Buyers has been Extended and Expanded. The tax credit will be extended through April 30, 2010, with a 6-day extension if a binding contract is in place prior to the deadline. First-time home buyers will continue to receive a tax credit of up to $8,000, while existing homeowners will receive a credit of up to $6,500. This is some of the best news we've had in a long time for the Real Estate market.  While the economy appears to be recovering slowly, I do think some of the uptick in the real estate area has been from the first time buyer tax credit.  Now that is has been expanded to include existing homeowners I think that will continue.  I worry what will happen when it ends but my home is that the economy will be feeling a recovery by then and it won't be as shocking as it would have been at the end of December. 

Posted in:General
Posted by Heather Burke & Sarah Ireland on December 8th, 2009 3:29 PMPost a Comment

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