A new bill was just passed!

Not only has the first time buyer $8,000 tax credit extended, but to keep the market moving along with homeowners today, the government is now giving a tax credit to folks who have owned and lived in their current home for 5 of the past 8 years and would like to move and buy something different.  You don't need to be buying something more expensive as rumors indicated.  It needs to be a purchase that has a confirmed and accepted offer by April 30 2010 and closing anytime between Nov 7th, 2009 and June 30,2010.  If you are in process with a transaction now that started before the 7th of November, that works too.  The tax credit for present homeowners is up to $6500.  Remember that to qualify for either tax credit, you must have an accepted offer by April 30,2010.

 

for more info go to:

www.realtor.org/government_affairs/gapublic/american_recovery_reinvestment_act_home#taxcredit