First Time Home Buyer Tax Credit Extension – 2010 Expiration on April 30th
Posted on | March 8, 2010 | 1 Comment
The first time home buyer tax credit extension was a very hot topic in November and you can expect that to be the case in March and April. With the 2010 expiration set for April 30th you can be rest assured that Washington will think about extending the first time home buyer tax credit and possibly expanding it as well.
In November President Obama and his staff not only decided to extend the first time home buyer tax credit but there was an expansion as well. First time home buyers would continue to receive an $8000 tax credit but it was also the case where home buyers that planned to move up would receive a $6500 tax credit.
If you have live in your residence for five years or longer you could receive a tax credit for $6500 by moving up into a new home. This has done a lot to stabilize home prices over the last few months but with the expiration nearing many wonder what will happen to home prices in the near future.
No one knows if there will be another first time home buyer tax credit extension but it is something that will discussed in depth in Washington and in the news. Watch for this to become mainstream news over the next few months as April 30th, 2010 gets closer.
Author: Jeremy North
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March 9th, 2010 @ 12:34 pm
[...] There are only 52 days left to find a home, have an offer accepted, and use the 2010 home buyer tax credit. [...]