• $8,000 tax credit for first-time homebuyers extended for buyers who sign a contract by April 30, 2010 (and who close by the end of June).
• $6,500 tax credit offered to homebuyers who have lived in their current residence at least five years and who want to “trade up” (buy a new primary residence).
• Couples earning as much as $225,000 a year and individuals earning up to $125,000 would qualify (up from $75,000 for individuals and $150,000 for couples).
• Tax credit not applicable for those buying homes worth more than $800,000.
• Those who sell their new home or stop using it as their main residence within three years would have to repay the credit.

Still have questions on the tax credit?

If you still have questions, contact us today to see how you can take advantage of the Economic Stimulus bill in your real estate experience. For your convenience, please fill out the form below and a member of our sales staff will contact you directly.

Information is deemed reliable, but not guaranteed. For complete information, please visit the following link on the 2009 Economic Stimulus Package: http://www.irs.gov/newsroom/article/0,,id=204672,00.html