COASTALMOUNTAINBLOG.COM: Tax Credit Extension Sure to Bring out Buyers

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COASTALMOUNTAINBLOG.COM: Tax Credit Extension Sure to Bring out Buyers

Tax Credit Extension Sure to Bring out Buyers

Homebuyer Tax Credit now extended.
New doors have opened just for you!

This is significant news. Congress has extended and expanded Homebuyer Tax Credits! For Buyers this means you have an even greater opportunity to purchase. For Sellers it means there will be some very motivated Buyers trying to beat the deadline. There are properties in the Woodside, Skyline and La Honda areas which are ideal.

Here's a quick overview of the new and improved program:

Extends the existing $8,000 credit for first-time homebuyers through April 30, 2010
Now move-up buyers can qualify for a $6,500 tax credit as long as you have lived in your home for five consecutive years out of the past eight years
Income limits have increased to $125,000 per individual and $225,000 per married couple
For military personnel, the credit has been extended through December 1, 2010
Additionally, buyers who enter into contracts written before April 30 will have until June 30 to close escrow