Friday, November 27, 2009

Tax Credit - Update

The tax credit has already proven to be an effective means of boosting economic activity. IWe hope that the government’s action to enhance it will have the intended additional stimulative effect that will help get housing and the economy back on solid ground.

The new law extends the $8,000 first-time home buyer credit through April 30, 2010, giving buyers who have signed a sales contract by that deadline until June 30 to close their deal. A new credit of up to $6,500 was created for repeat home buyers who buy a principal residence if they have been residing in the home they currently own (or previously owned) for five consecutive years out of the eight years preceding the purchase of the new home.

It’s not just a first-time buyer tax credit anymore. Move-up buyers, move-down buyers, and others who have previously owned a home can now qualify as well. In fact, close to 70 percent of all potential home buyers should now qualify for some form of the credit.

If you are starting your search to buy now or in the future, why not search like a realtor. Sign up for listing book, a free service I provide with no strings attached. Here is the link:

If you would like information on Buying, Selling, For Sale By Owners, 1st Time Buying, click on the appropriate link on my website .

Want to check out some Foreclosures or FSBO’s? Visit my website:

What did the house down the street sell for? Want to know call me or visit my website at

If you would like to know what your homes current value is check out Market Snapshot on my website or just call me at 636-294-6061.

.For any of your Real Estate Questions or Needs call Me at 636-294-6061 or Remember “Cribbin Realty” Where Performance Outsells Promises.

Mike Cribbin

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