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Tax Credit Extension


In an early release today from RISMedia (see www.AustinMarketInfo.com)  is the news that Congress has approved a new version of the tax incentive for home purchases:

  • An extension of the 10% (up to $8,000) tax credit for homebuyers who have not owned a home in the past 36 months.
  • A new $6,500 incentive for buyers who already own homes that they have occupied as primary residences for at least 5 years out of the past 8 years.

Both incentives are available only to buyers of primary residences, not second homes or investment properties.  Income limits were also increased beyond those in the current program, which ends November 30, 2009.

 These incentives begin December 1, 2009 and will run through April 30, 2010, with a grace period for contract that are in place before April 30 and which close by June 30, 2010.

Feel free to call me or another real estate professional that you trust if you have any questions about this new program.

 

About Bill Morris, Realtor

Many years of business experience (high tech, client service, business organization and start-up, including 18 years in real estate) tell me that service is the key to success and I look forward to serving you. I represent both buyers and sellers throughout the Austin metropolitan area, which means first-hand market knowledge is brought to bear on serving your needs. Learn more about my background and experience, my commitment to my clients, my profession, and to the real estate industry at CentralTexasHomeSearch.com.

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