We’ve been speculating the extension of the current First Time Homebuyers Tax Credit for weeks now. The Senate finally voted, and President Obama is expected to sign off tomorrow.
This is FABULOUS news!
The previous tax credit helped so many folks get into homes that might not have been able to without the assistance- now, the new tax credit includes folks who currently own homes- I know this is definitely going to be a well needed boost for both our distressed Las Vegas Real Estate Market, as well as the economy as a whole!
TAX CREDIT CHANGES HIGHLIGHTS:
- Previous tax credit was only for First Time Homebuyers (those who had not owned a home within the past 3 years)- tax credit was 10% of purchase price UP TO $8,000.
- New tax credit also includes people who currently own homes- the tax credit available to these buyers will be $6,500
- Definition of current homeowner inclusive to those whom have used the home sold or being sold as a principal residence consecutively for 5 of the previous 8 years
To view the Tax Credit changes in their entirety, CLICK HERE.
CLICK HERE to view a list of Frequently Asked Questions about the Tax Credit.
-As always, if you have any questions about selling or purchasing a home in the Las Vegas Valley, please give me a call-
Talk Soon,
Heidi Griffith
Your Las Vegas Realtor® for Life!
Realty One Group
702-540-0420
