President Obama has just signed an extension of the $8,000 tax credit given to first time homebuyers. First time homebuyers are defined as those that have not owned a home in the last 3 years, and it works if you buy a home for sale anywhere - from Seattle, Washington all the way to Orlando Florida!
The bill also provides a $6,500 tax credit for "move up" homebuyers. Move up homebuyers are those that own a home but want to sell it and buy another. These homeowners must have lived in the home at least 5 of the last 8 years.
This bill also raises the income limit to $125,000 for single tax filers and $250,000 for joint tax filers. The home purchased must be $800,000 or less.
The new deadline is April 30th, 2010!
This is great news for many of you who were looking to buy a home but couldn't do so before the deadline.
There's more information, if you're interested. Just give me a call or shoot me and email if you have any questions!
- Jay
Jay Silver | Northwest Realtor & People Connector | DiscoverNorthSeattle.com
