Brookside Village, White House, TN With a New Phase Beginning Soon-Tax Credit News
SAR Members,
I know you have heard, but just in case, The TAX Credit Passes.
Today, Congress passed a bill and sent it on to President Obama for his signature to extend and expand a homebuyers tax credit. The National Association of Realtors is updating Realtor.org and currently has a podcast and side-by-side comparison of the changes that are expected to be signed into law.
Here is a summary of the credit once it is signed by the President that may help answer questions from your members:
-Expiration date for credit is April 30, 2010
-First-time buyers still eligible for same credit ($8,000 for married couples, $4,000 for those filing separately)
-Current homeowners, who have consecutively maintained the home they want to sell as their primary residence for five of the last eight years, are also eligible. However, the maximum amount for those homeowners is lower ($6,500 for married couples, $3,200 for separate filers)
-The tax credit may not used to purchase a home for more than $800,000
-The income limits for both tax credits have been raised to $125,000 for single buyers and $225,000 for married couples
Thank you all for helping make this happen!
Chris Sexton
Director of Government Affairs
Tennessee Association of REALTORS®
Hendersonville, White House, Nashville TN Properties For Sale The A Team of EXIT Real Estate Solutions is the solution to your Auction, Commercial, and Residential Real Estate Needs. We have a combined 36+ years of experience and we are ready to put it to use for you; Call (615) 826-0001 or (615) 445-5935.
103 Hazel Path Court Ste.#2
Hendersonville, TN 37075
615.826.0001
Each Office Independently Owned and Operated
www.TheATeamHomes.com