The tax credit has been extended for the upcoming year of 2010! This is not only good news for first time home buyers, but for existing home owners as well! The tax credit has been extended until April 30th, 2010 with an additional 60 days to close the transaction; Complete deadline will be July 1st, 2010.

Existing home owner qualifications are of the following; must have lived in your home for the past five consecutive years in the last eight year period. Income requirements and the price of your home do limit you for the maximum credit; $125,000 per year for a single person; For a couple the income requirement is $225,000. Although others above that income requirement in the bracket for a single person is $145,000 or for a couple is $245,000 that will not include maximum tax credit. For example first time home buyers that meet the income qualification will receive $8,000; or existing home owners will receive $6,500 tax credit. This is a wounderful opprotunity, please feel free to contact me with any of your real estate questions, i would be happy to help!