Re: Tax Credit Update
The following information from NAR may be of interest to you regarding the latest on the Tax Credit Update.
The shape of a final tax credit package has remained in flux since our first notification on Tuesday. As the media has reported this morning, however, there is an agreement on the details of an expanded and extended credit, but NO VOTE has yet occurred. We cannot predict at this time when a vote will occur, but continue to press that it be as soon as possible. The Extended and Expanded Tax Credit agreement includes the following provisions: Amount: $8,000 Who: First-time homebuyers -- same definition as current law Amount: $6500 Who: Repeat purchasers. Must have used previous home as a principal residence for 5 of the 8 previous years. Income Limits: $125,000 for single filers/$225,000 for joint filers. Same for both first-time and repeat/move-up buyers Limitation on cost purchased home: $800,000 Time Frame: December 1, 2009 to April 30, 2010 plus 60 Day extension if binding contract is in place by April 30, 2010Another main difference hear is that Anti-fraud measures have been added.
Stay tuned for more information on this topic as it becomes available to me.
Yours in moving you Forward...
Kevin Yoder
The Kevin Yoder Realty Group @
Keller Williams Realty of GR
616-942-2449
http://www.grandrapidsrealestatepros.com
Grand Rapids Real Estate
Free Home Valuation | Client Testimonials | Keller Williams GR | iNeedHits.com | Alger Heights | $8000 Tax Credit | Equity Saver H.M.S. | Avoid Foreclosure | Realtor.com | Search MLS Listings | Looking to Buy? | Our Homes | Local Listings | Our Featured Homes | Home | Site Map | Fixed Rate Mtg Calc | Balloon Mortgage Calc | Maximum Mortgage Calc | Rent vs Buy Calc | Mortgage Calculators | Request Industry Info | Your Dream Home | How to Sell Your Home | Staging Your Home | Buying Foreclosures/REO's | My Blog
Copyright © 2010 The Kevin Yoder Realty Group- Keller WilliamsPortions Copyright © 2010 a la mode, inc.Another XSite by a la mode, inc. | Admin Login| Terms of Use| Site MapAll rate, payment, and area information are estimates and approximations only.