Extended Tax Credit… Did you know?

To qualify for the extended tax credit deadline, service members must have served on official extended duty outside of the United States for at least 90 days during the period beginning January 1, 2009 and ending April  30, 2010.  If so, they have until April 30, 2011 to sign a sales contract and until June 30, 2011, to close on the property. Both the $8,000 first-time and the $6,500 repeat home buyer tax credits are included in the extension.
 
The rule that requires buyers to repay the credit if they move out of their home within three years has also been waived for qualified service members if they receive government orders to move.

For more info:  http://www.irs.gov/newsroom/article/0,,id=215594,00.html 

Tax Credit Extended Info

Changes to Homebuyer Tax Credit

Frequently Asked Questions Homebuyer Tax Credit Changes 

A message from the Atlanta Board of REALTORS:

Last week, REALTORS® scored a major public policy victory when the U.S. Congress voted to extend and expand the homebuyer tax credit in order to continue stimulating the housing sector of the economy.

The Senate voted 98-0 and the House voted 403-12 on legislation that includes the extension and expansion of the credit. President Obama signed the legislation into law on Friday.

Thank you for making this victory happen. 30% of Georgia REALTORS® responded to NAR’s Call for Action. This grassroots action made a big difference in getting this legislation passed. This is a great victory for the economy, for homebuyers, and for all of us in real estate. Your commitment and involvement on this issue is greatly appreciated