So there has been talk for the last couple months that the homebuyer tax credit would be extended. If you know nothing about it basically the government was giving first time homebuyers an extra $8,000 on their tax return if they bought a house and closed escrow by the end of November, 2009.
Obviously there are still many people out there that would like to buy homes but have no chance of closing by the end of this month. After months of rumors, the tax credit has been extended and it is even better than before.
The tax credit is extended until April 30, 2009 and if that date comes but you haven't quite closed escrow you may be able to get a 60 day extension as long as you have a binding contract in place. The new extension still gives first time homebuyers an $8,000 credit but now if you already own a home you can qualify for a credit up $6,500 as long as you have lived in your current home for at least 5 years.
With that being said; What are you waiting for call me so we can find you a new home!
Visit me at www.amandalynnsmith.com
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