The home buyer tax credit has been extended and improved. Now there are two types of tax credits available.

1. $8,000 refundable First Time Buyer Tax Credit (Haven't owned for at least three years)
2. $6,500 refundable Buyer Tax Credit (Owned as principle residence for at least five out of the last eight years)

This is a limited time offer and the clock is ticking. Contact me for the details.

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Tax Credit is Extended

Good news - the $8,000 tax credit for first time homebuyers has been extended to June 30, 2010. This action will encourage a robust housing market in the first quarter of 2010 and affect home prices.

The legislation also includes a $6,500 tax credit for people who currently own a home. Qualifications are owning and occupying a home for at least five of the past eight years. Buyers must have a signed contract in hand by April 30 and close by June 30. And, the income limit has been increased too. The ceiling for single buyer income is now $125,000 and for married couples $225,000. Increasing the income limit will stimulate more purchases of pricier properties.

The first tax credit helped more than 400,000 homebuyers.