On Friday, President Obama is scheduled to sign a bill that extends and expands the homebuyer tax credit. This has the potential to help not just first time homebuyers but existing homeowners which might help sell more homes locally.
The new bill not only extends the existing program but allows up to a $6,500 tax credit for existing homeowners that have lived in their home for 5 consecutive years out of the last 8. More buyers will now be eligible for the credit.
Click here for a comparison of existing bill to new bill:
NAR Issue Brief: Homebuyer Tax Credit Changes
Scott McKinney - Trusted Advisor for Real Estate Dreams
McKinney Realty
715.798.3445
scott@mckinneyrealty.net
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