Tax Credit May be Extended

by on September 28, 2009

The White House is considering whether it will recommend that the $8000 tax credit be extended for another year. This 1st time home buyer credit is due to expire on November 30, 2009.

Many lawmakers like Senator John Isakson, a Republican from Georgia, think that it should be extended for another year. He is busy running all over Capitol Hill trying to lobby support for other congressmen and women.

He would also like to see the amount increased from $8000 to $15,000 and to have the restriction lifted for individuals who make more than $75,000 per year, $150,000 for couple, so that even more people can take advantage of this program.

This would definitely be good news for the housing market which continued to grow steadily throughout the summer.

For all the latest info on real estate in the Bay Area, call me at 1(800)275-7010.

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