The $8,000 First Time Home Buyer tax credit has been extended. In addition to the extension, an additional tax credit for Repeat Home buyers has been added up to $6,500. The deadline for these two programs is to have a home under contract by April 30, 2010, and close it by June 30, 2010. The First Time buyer’s has to have not owned a home which was a primary residence for the last 3 years. The Repeat Home Buyers have to have lived in there home (primary residence) for at least 5 consecutive years of the last 8 years.
Also part of this bill, is an extension of the tax credit for military personnel that have served at least 90 days outside of the United States. The deadline for this part is June 30, 2011. This bill also contained a provision to extend unemployment by 14 weeks in all states and additional 6 weeks on top of that in states where unemployment exceeds 8.5%.
For details on the tax credits, go to: http://www.federalhousingtaxcredit.com/
If you need help with the purchase of a Salt Lake City home, condo or duplex, please contact me. I’ve been a Salt Lake City realtor for over 10 years and this year so far, 80% of my clients have been Buyers of homes and condos in the Salt Lake City metro area.
Kevin
Kevin Coyle
Realtor, Associate Broker, MBA
Stonebrook Real Estate
Mobile: 801-243-0699
Office: 801-466-8977
