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Tax Credit Extension

In an early release today from RISMedia (see  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

More than thirty years of business experience (high tech, client service, business organization and start-up, including many 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: -- Seller Representation is a comprehensive process that begins with thorough market analysis and consultation, continues with properly staging the home to achieve the highest price possible in a reasonable time on market, a complete program of marketing and promotion, ongoing updates and communication, closing coordination, and follow-up throughout (and after) the sale. -- Buyer Representation is also full service: shopping, previewing, price and market consultation, contracting, negotiating, coordination of inspections, appraisals, repairs, and closing details, and follow-up beyond the closing of your purchase to ensure your lasting satisfaction. Because the real estate industry is becoming more sophisticated and challenging every day, you need a professional that understands the industry and is positioned to stay ahead of the game. I go the extra mile to help you achieve your goals. That's why I constantly research the market and property values so your home is priced effectively from day one. I also make sure the public knows your home is for sale by using innovative advertising and marketing techniques to attract potential buyers.


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