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Possible Expansion Of Homebuyer Tax Credit?

October 28, 2009 By 1 Comment

Easily put, it’s in the works.

It appears that legislators have come to terms to expand the housing home buyer tax credit until the end of April and make it available to ‘move-up’ buyers or repeat buyers.

The income limits would also expanded to $125k for single buyers and $250k for married couple.

Nothing set in stone yet, I’m not even sure if it is a bill yet and it hasn’t even been voted on yet so be careful of what you hear. The legislators have come to terms only.VERY IMPORTANT TO UNDERSTAND THAT IT IS NOT A DONE DEAL! It’s just being discussed at this point.

As of now, the tax credit still expires on November 30th at 11:59 but lets hope no one pushes their closing that late ;-)

But if it does…

Looks like Realtors everywhere will rejoice and NAR will win their lobbying efforts or Twin Cities home buyers have a little more time to use the housing tax credit.

More deets to follow

Filed Under: Buying
About Jason Sandquist

Jason Sandquist is a commercial real estate associate serving Minneapolis & St. Paul commercial real estate market, as well as surrounding areas . You can also read Inside the Property Lines, a commercial real estate weblog delivering creative thoughts. He works with landlords and owners with leasing assignments and disposition of properties, as well as start-ups and businesses helping them find space and create strategic real estate decisions. He also helps investors with disposition and acquisition of commercial investment properties.

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Comments

  1. Eric Hempler says:
    October 29, 2009 at 6:52 am

    I’m not rejoicing and I am a Realtor. We’re just creating false market conditions.

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