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New Jersey Real Estate

Blog by Karl von Loewe
Hillsborough, New Jersey
Real estate market information and occasionally spirited opinions about residential real estate in Somerset, Hunterdon, Mercer and Middlesex Counties by a REALTOR® with over a quarter century of experience. COMMENTS ARE WELCOME. Please use the Add Comment link at the bottom of the posting.

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Home Buyer Tax Credit Extension and Expansion
Posted at New Jersey Real Estate by Karl von Loewe
Nov. 6, 2009
Categorized in: Current Real Estate News
Tagged with: firsttime home buyers, home buyers, real estate, tax credit

The first-time homebuyer tax credit, due to expire on November 30, has been extended and expanded.  Under legislation signed today by President Obama, first-time homebuyers have until April 30, 2010 to enter into a firm contract for the purchase of a home, and must close on it by June 30, 2010.

In addition, people who already own a home and have lived in it as their primary residence for at least five of the last eight years may be qualified for up to $6500 in a tax credit.

Income limits apply, but they have been raised in the case of the first-time home buyers.  For more information click here.

The real estate market should experience a good winter and spring!

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