SUCCESS! Tax Credit Extension and Expansion Passes the House – Awaits President’s Signature

I was informed this afternoon that the House passed the Unemployment Insurance bill which included the homebuyer tax credit extension and expansion. The bill was passed by the Senate yesterday. So, now it is simply awaiting President Obama’s signature to become law!


Some of the main features of the tax credit include the following:

• An extension of the first time homebuyer $8000 credit through April 30, 2010
• A $6500 credit through April 30, 2010 for homebuyers selling properties in which they’ve lived for the last 5 consecutive years (closing on both situations must occur by June 30, 2010)
• Income limits of $125,000 single or $225,000 married

WOW - who knew it could get better than the current tax credit?  Now more buyers are eligable. 

If you missed the chance to take advantage of the first time homebuyer credit, it is your lucky day! It's a great time to be looking at Hampton Roads Real Estate!

Call me today to set up an appointment to talk about the first steps! 

(757) 876-9621

Click HERE for more information about the proposed bill.