Homebuyer’s Tax Credit Update

Last night the Senate voted cloture on a bill that includes the extension of the extension of the first time home owner’s tax credit. While this is not the final vote, it effectively seals the deal on the plan to extend the $8000 first time buyer credit through April 30th and expand said credit to move-up buyers on a smaller ($6500) scale. There is qualifying income cap of up to the income cap of $150,000 for single filers and $225,000 for joint filers. Contracts must be signed by April 30th, and they must close by June 30th. The Senate and the House of Representatives hope to have the bill passed and to the President to be signed by Thanksgiving.

As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions. To look for homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/

Sincerely,

"Carolina Joe" Idleman
http://www.carolinajoe.com