It’s not a done deal, but there’s been some movement. And this time, first-time homebuyers may not be the only ones to get the tax credit .
The senate version of the bill under discussion would also include repeat buyers who have owned their current homes for at least five years.
Instead of the $8,000 credit that first-time buyers would receive - repeat buyers would be eligible for up to $6,500.
The bill is still being negotiated. So stay tuned!
on November 4th, 2009 at 5:44 pm
Today the first time homebuyer tax credit extension was approved by both the senate and the house and should be on the president’s desk by this Friday for signatire. It now includes other people besides first timers and the income limits have been increased as well. This is great news for today but will probably fizzle out and sales will drop noticeably at the March 2010 deadline. Does cash for clunkers ring a bell?