October 26, 2009 to October 30, 2009

Senate Makes Tentative Agreement to Extend and Expand Tax Credit

Within the past 72 hours, some misinformation regarding the extension and expansion of the first-time home buyer tax credit has been disseminated through various media outlets. As of today, no formal bill regarding an amended tax credit program has been passed. On Wednesday, October 28, 2009, Senate leaders reached a tentative agreement to extend and expand the federal first-time home buyers' tax credit originally set to expire November 30. While the method for passage remains uncertain, the deal would extend the $8,000 credit for first-time buyers until April 30, by which point they must have sales agreements in hand. These buyers would have until June 30, however, to go to settlement. The agreement would also provide a $6,500 credit for current homeowners who purchase a new residence in this time frame. To qualify, the homeowners must have lived in their primary residence for five continuous years. Qualifying income limits would also be raised to $125,000 for single taxpayers and $250,000 for joint taxpayers, from the current $75,000 and $150,000.

The Senate has not yet agreed whether the extension will be put up for a vote as its own bill or in conjunction with other legislation. Once it passes the Senate, the measure must be voted on by the House and signed into law by President Obama.





Send me a text message using the tool below.

Get this Widget

Welcome to Keller Williams Realty, the Nicholas Mature team

A home is not a home because of its room dimensions or the color of the walls. It is about how you feel when you walk through the front door. And the way you can instantly envision your life unfolding there.

This is about more than real estate. It is about your life and your dreams.

Different by design

Keller Williams Realty takes a different approach to real estate, one that is built on personal touches, win-win deals and positive results.

Nicholas Mature utilizes the latest technologies, market research and business strategies to exceed your expectations. More importantly, we listen and that means we find solutions that are tailored to you.

How we can help

Thanks for starting your real estate search with us. This website is full of information for you whether you are looking to buy or sell.

After you have had the chance to review this information, contact me so we can tell you more about how we can help.

We appreciate the opportunity to earn your business.