Happy Halloween!!! leaving soon…Home Buyer Tax Credit..

Trick?: more foreclosures...OR a Treat?: More Tax Credit

Did you hear that a special senate panel has approved a compromise to extend and expand the tax credit?

Now the bill just needs to pass through the full house and senate.  Minor detail! J

Reach out to your congressmen and senators to stress the importance of this extension to our market.

Ask your partners to voice their opinions on this through the NAR and with their political contacts as well.

Here are a few details of the proposed plan:

Tax credit of $8500 would be extended to anyone in contract by 4/30/09 and they would need to close by 6/30/2009

Second time buyers would receive a $6500 credit

Income limits are raised to $125,000 for a single person and $225,000 for a two income household.

Check out this link for more information

http://www.boston.com/business/taxes/articles/2009/10/28/senators_agree_to_extend_homebuyer_tax_credit/