1st-Time Home Buyer Tax Credit nears Extension
November 3rd, 2009 by Rich Jacobson
According to an article on Forbes.com, the popular $8000 Tax Credit afforded to First Time Home Buyers is very close to being extended through April of 2010.
Here is an excerpt of that article:
“An $8,000 federal tax credit for first-time homebuyers that is set to expire at the end of the month inched another step closer to getting extended until April. The Senate voted 85-2 yesterday to move the bill to a final vote, and senior members of Congress said that they expected the bill to pass next week.”
With everything else that’s been going on in Washington of late, i.e. massive debt to bailout Wall Street, dismal ‘Cash for Clunkers’ program, government take-over of Health Care, indecision on Afghanistan, etc., it’s encouraging to see progress on legislation that is truly effective for a change, and makes a difference for taxpayers and the economy.
This would be great news for many first-time home buyers here in Kitsap County WA and people who have been considering purchasing their 1st home. I have some great folks who have been extremely patient in awaiting word on their short sale contract for a home out in Lakeland Village, outside of Belfair WA. This extension would be wonderful news for them!
For more information on the $8000 Federal Housing Tax Credit for 1st-Time Home Buyers, go HERE!
If you’ve ever wondered what all is involved in buying a home, check out my fun and informative series entitled “Adventures in 1st-Time HomeBuying.”
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Rich Jacobson is a licensed real estate professional providing knowledgeable empowerment and relentless representation for his clients of residential properties and vacant land throughout all of Kitsap County WA and portions of Pierce, Mason, and Jefferson Counties. You can also find him at KitsapLife.com, ActiveRain, and Crabbing in the Hood, or e-mail: kitsapagent@gmail.com
Kevin: No, that would not disqualify him. He should be able to take the 1st Time Buyer credit on his 2009 return.
My son owned VACANT Land… No structures what-so-ever on it, then sold it last year. He bought his FIRST house in Jan. 09. Does owning Vacant Land disqualify an individual fron the 1st Time Home-Buyer Credit? He lived with his Mother and I until he bought his house in Jan. 09.
Thanks you….. Kevin Thrun
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