IT IS NOW OFFICIAL!

The first time home buyer tax credit has not only been extended, but it has been expanded, which affects not only first time home buyers, but also those homeowners selling and buying a new home (as long as they have lived in the home for at least 5 years).

The president just signed the new bill extending the first time home buyer tax credit. There must be a contract by April 30, 2010, and the home must close by June 30, 2010. The $8,000 still stands.

For homebuyers that have been in their current homes (must be a primary residence) for at least 5 years, will get a $6,500 tax credit. The deadline dates above apply as well.

The income limits have increased to $125,000 for the single buyer, and $225,000 for couples.

The bill does exclude investor owned properties.

The buyer must stay in the home for at least three years or they will have to repay the credit.

So this is great news for many people!

If you have further questions, ask your lender, or your realtor, or feel free to call or email me.

If you or anyone you know is in the market to buy or sell their home, feel free to contact me;

Valerie Sullivan
Broker/Owner, GRI, e-Pro
Sullivan Enterprises, LLC
850-803-8446
Valerie@ValerieSullivan.net
www.SullivanHomes4U.com