The Worker, Homeownership and Business Assistance Act of 2009, was signed into law on Nov. 6, 2009. It extends and expands tax credits for first time home buyers implemented with previous Acts.
A summary from the IRS:
- "Extends deadlines for purchasing and closing on a home."
- "Authorizes the credit for long-time homeowners buying a replacement principal residence."
- "Raises the income limitations for homeowners claiming the credit."
With the new legislation, long-time homeowners who buy a replacement principal residence may also claim a homebuyer credit and people with higher incomes may now qualify.
This is excellent news for those first time home buyers who weren't able to settle in time to take advantage of either the Housing and Economic Recovery Act of 2008 or the American Recovery and Reinvestment Act of 2009.
It also welcome news for those long-time home owners who desire to move to replace primary residence (as opposed to those who invest for the short term to resell a property).
As always, we are here, working full time as team in the real estate market and have the experience and knowledge to meet your home buying and selling needs. If you are considering buying or selling, we are available for you to interview or to consult with us at 302-999-6966.
In addition, you can view ALL homes for sale in the area at our real estate super-site http://www.TriStateTeam.com
Respectfully,
John & Mary Luca
For detail information directly from the IRS web site, click this link: http://www.irs.gov/newsroom/article/0,,id=204671,00.html
Quotes from Clients October 9, 2009:
"Sure John, if I see anyone wanting to buy or sell a house I will be linking you up. You are a great guy. Very relaxed and reassuring. My wife and I were very comfortable with you from the 1st day we met you. Keep up the good work!"
~ Odiraa
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