Washington Post Story

244829 Resource 178435 178982 178982 1257470742430 1257470742430 Controlled Congress Clears Tax Credit

Home buyer tax credit will expand to homeowners who have owned before

The House of Representatives passed legislation today to extend and expand the current first-time homebuyer tax credit, <a href="/public/item/244780">joining the Senate’s nearly unanimous approval of the measure yesterday</a>. When the President signs the bill, the first-time-home-buyer tax credit will extend to purchase contracts signed through April 30, 2010 and the law will expand to cover previous owners purchasing homes if they have lived in their current home for 5 of the last 8 years. I say “when” the President signs the bill rather than “if” because the Congress attached this legislation to an extension of the unemployment benefits legislation that is necessary to continue payments to thousands of unemployed persons, making the law nearly veto-proof. Here is a chart from the National Association of Realtors® that compares the current law with the new legislation that will become effective upon the President’s signature: <img alt="Chart" vspace="10" align="baseline" src="http://annheitland.smugmug.com/Other/Taxes/taxcredit/704507577_KVBcY-L.jpg" /> <hr /> To buy or sell any Flagstaff home, contact me: <a title="Flagstaff RE/MAX agents" href="http://bestflagstaffhomes.com/" target="_blank">Ann Heitland at RE/MAX Peak Properties</a>. <a title="Search Flagtaff MLS" href="http://idxpro.cisdata.net/AR49005/Search/quick/" target="_blank">To search the Flagstaff MLS, click here!</a> <a title="Flagstaff Home Listings" href="http://www.bestflagstaffhomes.com/bin/web/real_estate/AR49005/HOME_SEARCH/Flagstaff/1247106841.html" target="_blank">Click here to see my featured Flagstaff home listings.</a> 9 application/xml false Flagstaff homes home buyer tax credit Washington Post Story Congress passes bill extending unemployment insurance, home buyer tax credit http://voices.washingtonpost.com/capitol-briefing/2009/11/congress_passes_bill_extending.html?hpid=topnews Mozilla/4.0 (compatible; MSIE 8.0; Windows NT 6.0; Trident/4.0; GTB6; SLCC1; .NET CLR 2.0.50727; .NET CLR 3.5.30729; OfficeLiveConnector.1.3; OfficeLivePatch.0.0; .NET CLR 3.0.30729) 127.0.0.1 127.0.0.1 aheitland 75.160.24.218 false true false false true 178975 false false true false false false true 244903 Resource 178975 173239 178982 1257648414146 1257648519854 Controlled RE: Congress Clears Tax Credit

It's now the law!

This bill was signed by President Obama on Friday and is now the law. Get under contract by April 30 to get the tax credit as you purchase your new home! 10 application/xml false Mozilla/4.0 (compatible; MSIE 8.0; Windows NT 6.0; Trident/4.0; GTB6; SLCC1; .NET CLR 2.0.50727; .NET CLR 3.5.30729; OfficeLiveConnector.1.3; OfficeLivePatch.0.0; .NET CLR 3.0.30729) 127.0.0.1 127.0.0.1 24.121.32.9 false true false false true 178435 blog blogsite/BestFlagstaffHomes/web