Wednesday, September 30, 2009

Time Expiring on Home-Buying Tax Credit

Realtors are bracing- make that hoping- for a flurry of activity in the next few weeks as a tax credit for first-time home buyers edges toward its expiration.
The incentive offers a tax credit of 10% of the purchase price, up to $8,000, for first-time buyers with certain income limitations. The tax credit was created as part of the $787 billion federal stimulus package in February to help stimulate the property market. It is set to expire Nov. 30, though some lawmakers are pushing to extend the deadline.

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