The extension of the first time homebuyer tax credit moved one step closer to becoming law yesterday when it passed the Senate. The bill is predicted to have enough support to pass the House of Representatives and then it will be sent to President and assuming Mr. Obama signs it the extension of the first time homebuyer tax credit will become law.
Over the last couple of weeks I have seen many erroneous headlines regarding the extension of the first time home buyer tax credit including this one which showed up in my email box this morning “FIRST TIME HOMEBUYER EXTENSION IS FINAL!!”. For the bloggers and writers of these articles its time to go back to school by viewing this video on how a bill actually becomes a law. The first time homebuyer tax credit extension is NOT final. It moved one step closer to becoming final but it is not there yet.
If the first time homebuyer extension does become final and there is a good chance it will, first time homebuyers will have until April 30th, 2010 to get into contract on a home and receive a tax credit up to $8,000. The fine print is the house has to close by June 30th, 2010. The income qualifications have been increased to $125,000 for individuals and $250,000 for couples.
Another part of the bill which hopefully will spur some activity in the Spring Texas real estate market is the inclusion of a tax credit for move up buyers. If a buyer has owned his current home for the last 5 years, he will be eligible for a $6,500 tax credit.
It is very probable that the first time homebuyer tax credit will be extended and expanded but its not there yet. Stay tuned!!
Jill was phenomenal during every step of selling my father's home. This process was extremely difficult for me, as... read moreJill was phenomenal during every step of selling my father's home. This process was extremely difficult for me, as my father passed away last year. Jill listened to EVERY story I had, and there were a lot of them! She allowed me to share the memories of the house, which helped me prepare to let it go.
She is very knowledgeable in what to and what not to do in regards to getting the home ready to sell, what to tackle during the negotiation process and she made the closing extremely convenient. She was thoughtful enough to place the "sold" sign on the property a week in advance, to allow me time to process it all.
Paying constant attention to what is happening around your listing is one of JIll's many strengths. Her goal is to get you the most money for your property, and she has different strategies to that end result.
I not only gained a new realtor, but in JIll, I also gained a friend! I will be forever grateful for her through this tough process and I know my Dad would have loved her! "Thanks," will never be enough! read less