Just in case you were not aware, I wanted to let you know that the $8,000 first-time home buyer tax credit has been extended.
The great news is that now there is a TAX CREDIT UP TO $6,500 FOR REPEAT BUYERS!!! Taxpayers who have lived in one residence for five consecutive years of the past eight can now qualify for a tax credit up to a maximum $6,500 of a new principal residence.
The new home does not have to cost more than the old one. There are income limits that apply. Buyers must be under contract by May 1, 2010 and close by July 1, 2010.
So if you know anyone looking to buy a new home please pass along the word! Here’s an article in the Wall Street Journal with more information.
Lara Wells Osborn is a Redding native. After traveling and working around the world, she has returned to Redding with her husband and three children. She is a real estate agent with Coldwell Banker Westside. She can be reached at 530-276-3026 or firstname.lastname@example.org.