Wednesday, October 28, 2009

Senate plans to extend an $8,000 tax credit for first-time homebuyers

Senate plans to extend an $8,000 tax credit for first-time homebuyers and allow benefits for some people who already own residences.

The proposal would also let existing homeowners qualify for a $6,500 credit if they have lived in their residence for five years.

The homebuyers’ credit would be available to individuals earning up to $125,000, or $250,000 for couples, up from $75,000 for individuals and $150,000 for couples under the current law.

The plan would extend the $8,000 tax credit for first-time homebuyers, due to expire Nov. 30, to home purchases under contract by April 30, 2010, with borrowers allowed another 60 days to close the sale.

It is not a done deal yet because it is tied to bill to extend unemployment benefits along with several other "pork" amendments. Fortunately, there seems to be little resistance to the home buyers credit. We will have to see exactly comes out of the bill.


Dennis Smith, ABR, SRES, e-PRO, CDPE, Realtor® DRE# 00476662
Certified Distressed Property Expert
Taylor Place Real Estate
Buy or Sell a Home with Me, Use my Moving Truck - F R E E for life.
760-436-0087, or cell at 760-212-8225

My Market Trends Report with graphs and charts for North Coastal San Diego will give you the Sales Statistics for the month and compare it with last year, by city!

You can view all available San Diego area homes for sale at
You can search by address, by MLS number or by general criteria.

Providing quality Real Estate services in the North Coastal San Diego area including Del Mar, Solana Beach, Rancho Santa Fe, Cardiff by the Sea, Encinitas, Leucadia, Olivenhain, Carlsbad, La Costa, Aviara, Oceanside, Vista, San Marcos, San Elijo Hills, Escondido & San Diego County.

No comments:

Post a Comment