They did it!!! 

Congress passed a new and improved bill allowing more than “property virgins” to get a new home with a little help.  Just recently, the $8,000 tax credit was extended well beyond the previous deadline of November 30, 2009.  Now, first-time homebuyers have until April 30, 2010 to go into contract on a property, and they have until June 30, 2010 to close; the first improvement!  This is a nice break for those property virgins.  But wait, there’s more!! 

Now, even property veterans are getting a break too.  Previous homeowners will now receive a $6,500 tax credit if they choose to purchase a new home by the said deadline.  There are some parameters, however, as previous homeowners have to reside in their property for at least five years.  US Lawmakers have also increased the income level requirements, which allows for more to benefit from this credit for anyone.  The following chart easily lays out this improved home stimulus package:

With this new credit in place, is now the time for you to dive into the Houston, TX real estate market?  Whether you are a buyer or seller, this extension is great for all to participate!

Need a knowledgeable Realtor?  Whether you are buying or selling property, Don Puryear and his team of top producing agents are available to help you get the best deal in this newly rejuvenated market.  Don and his staff know the market and are ready to help you understand it too. 

Contact Don if you would like a free, no-obligation market analysis of the value of your home, or if you would like information about interest rates, the new improved $8,000 tax credit, current inventory and absorption rates, or how to go about selling your home and finding a new home.