Looking to take advantage of the $8000 first-time homebuyer tax credit? Good news! You now have until April 30, 2010 to do so. The tax credit has been officially extended for first-time home buyers and it’s also been expanded to include current homeowners that have used the home sold (or being sold) as a principle residence consecutively for five of the past eight years. Here’s an easy side-by-side comparison from the National Association of Realtors detailing the rules of the original tax credit that expires on November 30, 2009 and the new plan that is in effect until April 30, 2010.
This is great news for our Traverse City real estate market! We’ve seen a boost of activity from homebuyers already set to close on their home purchases before the end of the month and we’re hopeful that this increase in activity will now continue through the new deadline.
And there are still many great real estate buys in and around Traverse City. I just listed a newly remodeled 3-bedroom, 1.5-bath ranch in-town on Hamilton St within walking distance to the Traverse City Civic Center and only a ½ mile to Northwestern Michigan College for $114,900. Interest rates are still low with great programs available for conventional, RD and FHA financing.
It’s a great time to buy that first house, or new house, you’ve been wanting! Search all of the Traverse City area MLS listings and find the one that’s right for you. If you have any questions on the tax credit extension or any real estate questions in general, don’t hesitate to contact me.
Traverse City real estate – Jason Kudary real estate