Currently there is a $7500 tax credit that is offered to first-time homebuyers who purchase a home by June 30, 2009. However, there is an updated bill that may go into effect very soon. The most recent bill that is set to be voted on today will amend previous bills. It looks like the final bill will allow for a tax credit up to $8000 (instead of the initial $15,000 that was proposed) for first time homebuyers that will have to be repaid only if the homebuyer sells their house within 36 months of the purchase date.
If this provision passes, it could have a tremendous impact on our industry. Coupled together with provisions to ease the flow of credit and reduce foreclosures, we could see an immediate and dramatic turn-around in real estate.
For more details, please call or email us...
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment