Changes to the Homebuyer Tax Credit Law Both sides of congress have passed the bill extending and expanding the home buyer tax credit. click on the link to see the basics in a nutshell. This new version has a component giving a credit to current homweowners who sell and buy. This should stimulate the economy even further as every time a home is bought and sold, repairs are made, appliances bought, painters, plumbers landscapers employed.

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By Robert Schroeder, MarketWatch
WASHINGTON (MarketWatch) -- Senators have struck a deal to extend a popular tax credit for home buyers beyond those buying their first house, Senate Majority Leader Harry Reid's office said Wednesday.
Legislators also have agreed to extend the tax credit through the end of April, according to a Reuters report.
An $8,000 credit for first-time home buyers is set to expire at the end of November. Under a compromise reached by senators, the credit would be expanded to those who have lived in their home for five consecutive years, a Reid spokeswoman said.
The credit for repeat buyers would be $6,500.
The credit reportedly would be available for individuals making up to $125,000 a year and couples earning up to $225,000 per year, up from the current income limits of $75,000 and $150,000, respectively.
Reid wants to attach the tax-credit measure to a bill that would extend unemployment benefits
This is not a done deal yet, but all indications are it will become law! Stay tuned for further updates.
In my opinion, the first tax credit did a good job of stimulating the market for 1st time buyers. This expanded version takes it a step further- ofering the rebate to trade-up buyers, creating 2 transactions, they sekll their present home and buy a new one ( either bigger for a young family or downsize for an older family). It also increases the income level for eligibility.
| Boston in Top 10 for "Biggest Rebound" City |
| 10/14/2009 |
|
Here's the top-10 list: 1. Washington, D.C. (tie) Source: The Wall Street Journal, Sue Shellenbarger (09/30/2009) |

This forwarded article from The Boston Globe, explains the Placentino elementary school's innovative options for learning. Check out the article at the link. Holliston has always had consistently highly regarded schools at all levels and this is another example of why.

The 1st time buyer tax credit, is perhaps the best opportunity and incentive in years to become a homeowner. Think about it- since the market peak in 2005, home price are down about 25%, interest rates are at historic levels- hovering around 5% +/-. with an FHA loan you can buy with as little as 4% down payment and THE GOVERNMENT IS GIVING YOU $8,000. credit !!!!!
If you have been thinking about buying your own home in Metrowest MA, but aren't sure how it works or if you qualify. PLEASE call me for some straight talk, no pressure discussion on your questions and concerns! I have 24 years of experience and real estate knowledge to share with you.
Watch this video for a quick (2 minute) synopsis of the program, then call John 508 277-1784.
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