With a unanimous vote yesterday evening the Senate passed another value add stimulus to buying a new home. Combined with lowered interest rates and amazing inventory a new law allows for better tax advantages.
USA today photo
The old law allowed for a $7500 tax credit to first time home buyers the year the bought their first residence. The new law should help stimulate a new surge of buyers. ALL home buyers will now get a tax credit equivalent to $10% (up to $15K) on new or existing residences.
See USA todays article here: http://www.usatoday.com/money/economy/housing/2009-02-04-taxbreak-homebuyers_N.htm for more details.
Lets get out and find you a new home ..Now is the time to buy!
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