Due to new legislation signed on Nov 6th, the $8,000 first time home buyer tax credit has been extended until April 30th of this year. The new deadline will give another chance for buyers to benefit from this historic stimulus package. In addition, a tax credit of $6,500 will be available for long term homeowners who wish to upgrade to a new home. (IRS info here)
If you have not owned a primary home for three years or more then you might qualify for the first time home buyer tax credit of $8,000. This is a refundable credit and you don't have to pay it back.
2) $6,500 Tax Credit
If you have owned your home for more than 5 years you could qualify for the a 6,500 tax credit. This is good news for current homeowners who felt left out of the previous stimulus bills.
If you are a first time buyer or interested in upgrading your home, and would like to take advantage of the current market conditions I am happy to meet with you to get started. Send me an email or give me a call at 503-788-7103. To begin receiving listings by email go here.