Expanded Homebuyer Tax Credit: Small Window, Big Opportunity
Posted by Steve Schmidt on January 14, 2010
Island home prices are at the lowest level in years and interest rates are still hovering around the 5 percent range This is an excellent time to include the expanded U. S. Homebuyer Tax Credit into the mix and purchase a new (or second) home before April 30.
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RISMEDIA, January 8, 2010—
The countdown is under way. As of January 1, you have four months to take advantage of the expanded U. S. Homebuyer Tax Credit by the April 30 deadline.
Available Tax Credit
Fueled by the original November 30, 2009 deadline, sales of existing homes had increased steadily since April, with the exception of a slight dip in August. NAR surveys show that about 30% of all closed transactions during that period involved first-time buyers.
In November, Congress extended the tax credit and amended it to include some repeat buyers in hopes of securing a more sustained real estate upswing. However, the narrow window suggests none of us should count on another extension.
RISMEDIA, January 8, 2010—The countdown is under way. As of January 1, you have four months to promote the expanded U.S. Homebuyer Tax Credit and get your qualified buyers under contract by the April 30 deadline.
Fueled by the original November 30, 2009 deadline, sales of existing homes had increased steadily since April, with the exception of a slight dip in August. NAR surveys show that about 30% of all closed transactions during that period involved first-time buyers.
In November, Congress extended the tax credit and amended it to include some repeat buyers in hopes of securing a more sustained real estate upswing. However, the narrow window suggests none of us should count on another extension.
Read more: http://rismedia.com/2010-01-07/expanded-home-buyer-tax-credit-small-window-big-opportunity/#
RISMEDIA, January 8, 2010—The countdown is under way. As of January 1, you have four months to promote the expanded U.S. Homebuyer Tax Credit and get your qualified buyers under contract by the April 30 deadline.
Fueled by the original November 30, 2009 deadline, sales of existing homes had increased steadily since April, with the exception of a slight dip in August. NAR surveys show that about 30% of all closed transactions during that period involved first-time buyers.
In November, Congress extended the tax credit and amended it to include some repeat buyers in hopes of securing a more sustained real estate upswing. However, the narrow window suggests none of us should count on another extension.
Read more: http://rismedia.com/2010-01-07/expanded-home-buyer-tax-credit-small-window-big-opportunity/#ixzz0cb1zsC49
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