Tax Credit Extended Into 2010: Another Reason to Buy Asheville Real Estate
It’s official, President Obama has signed a bill that extends the tax credit for first-time homebuyers into the first half of 2010. This program has been scheduled to expire on November 30, 2009.
In addition to extending the tax credit of up to $8,000 through June 30, 2010, the extension measure also opens up opportunities for others who are not buying a home for the first time.
The program that has existed for first-time homebuyers remains intact with the one exception that more people are now eligible based on an increase in the amount of income someone may now earn. Additionally, the program now gives those who already own a residence some additional reasons to move to a new home. This incentive comes in the form of a tax credit of up to $6,500 for qualified purchasers who have owned and occupied a primary residence for a period of five consecutive years during the last eight years.
With inventory of homes at an all time high, interest rates at an all time low, and the tax credit extension and expansion, there has never been a better time to buy an Asheville home. At Beverly-Hanks & Associates we stand ready to assist you in finding that perfect home and fulfilling the American Dream of home ownership!
For more detailed information on the Homebuyer Tax Credit, visit Buyer Services
