President Obama Signs Tax Credit Extension & Expansion Bill
On Friday President Obama signed into law new legislation that will provide an extension of the current $8,000 Tax Credit until next April 30th and expanded the Tax Credit to include current homeowners who have owned their home for 5 years in the last eight years. This credit will be for $6,500.
I believe it will make a measurable difference to the housing market in a time when sales are typically down for the holidays/winter to include a substantial credit for those who are not “first-time” homebuyers. I see this as a big jump-start to the tax season as well.