North Lake Tahoe Real Estate- First Time Home Buyers Get an Extension on the Tax Credit

Obama will be signing new legislation that will extend the $8,000 credit for first-time homebuyers for sales contracts entered into by April 30th, 2010.  The sales contract will need to be closed by June 30^th in order to be eligible for the tax credit. The first time home buyer tax credit has also been expanded to include a new $6,500 incentive for buyers looking to move from their current home if they’ve been residing there for five consecutive years out of the last eight.

If you or someone you know has been considering purchasing property for the first time I would love to discuss this legislation and your options under it.