While it’s too early to celebrate the news that the first time home buyer credit that so many people have taken advantage of to get into a new home, the talk of extending the incentive is starting to build.
It appears as if Senators have agreed on the idea of extending the credit, but they haven’t quite nailed down all the logistics of the extension. And while the extension would prolong the $8,000 tax credit enjoyed by first-time home buyers that purchase a new home, it looks as though it might go beyond that to include those that aren’t first-time home buyers.
The new provision of the extension would provide up to $6,500 in assistance to those that have lived in their current residence for at least 5 years.
Again, as of right now most of this is still talk, but as we all know, anytime we can get both political parties in Washington to agree on something, it’s got to be a good sign!
If you’re still in the market to purchase a new home or you’d like to sell your current home, the market is still very warm and there are plenty of homes available for purchase and willing buyers looking to buy.
Contact me and let’s discuss your real estate options!