Well, today moments ago President Obama signed the necessary paperwork to help you get off the fence. The tax credit has been extended until April 30th. 2010. In my opinion this will be the one and only extension. Public opinion is split on this decision. The cost to taxpayers will be over 10 billion dollars to extend the credit. Many are unhappy with this cost. The flip side is that for many potential home buyers this extension gives you a bit more time to find a home that you can live in and enjoy for years to come.
If you’re a potential home seller you will benefit from this as well. More people will be motivated to purchase your home now. If you’ve owned your home for five or more years you might be eligible to receive a $6,500 tax credit for “moving up” and buying a new home. Does this motivate you?
We will continue to keep you informed to the impact of the tax credit for both buyers and sellers of homes in the greater Tacoma area. If you would like a personal evaluation of your situation please contact us directly. We can look at your situation and see if the tax credit is of value to you.
