$8000 Tax Credit Extension – Grand Rapids Real Estate Market Update

31 10 2009

The Senate is working on extending the $8000 Tax Credit to April 2010. Many buyers took advantage of this credit this year and many are rushing to make it under the current November 30th deadline. This has been a very nice benefit for first time home buyers and buyers who have not owned a home in the last 3 years. Eligible homebuyers will get the full $8000 dollars if they close before April 2010. The amount of the credit will then decrease by $2000 each quarter until it expires at the end of the year (2010).

In this bill, they are also looking into increasing the income limit. We’ll just have to wait and see the final outcome, we all know how these things seem  to change very rapidly in DC. For more information or to search for homes, visit my website at GRRealEstateInfo.com or contact me anytime.

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