Expert Advice from Amy & Kyle Bergquist at Keller Williams Legacy Partners
The Senate has overwhelmingly passed an extension to the hotly debated homebuyer tax credit. The updated version of the program has larger scope and is more generous than its predecessors. Note that the extension is not official until it is also passed by the House and signed by President Obama. The new program offers people that have lived in their home for 5 years or more (move-up buyers) a $6,500 credit. It also increases the
As part of its major housing legislation, H.R. 3221, Congress created a tax credit to provide an incentive for first-time homebuyers. The $7,500 credit will be available for the purchase of a principal residence on or after April 9, 2008 and before July 1, 2009. This first blog post will address common questions. A second post will follow with my thoughts on the tax credit… The Basics Who qualifies for the new tax credit? Only