Good News for Denver First-time Homebuyers AND for Denver Move-Up Buyers!
There is more good news today for the Denver housing market. Congress has voted to extend the current tax credit for first-time homebuyers, along with expand it to include buyers who already own their homes. First-time Denver homebuyers, including anyone who hasn’t owned a home in the last three years, will still receive up to an $8,000 tax credit for contracts signed by April 30 and closed by June 30th of 2010. This is an extension on the bill that was set to expire at the end of this month.
First-time Denver homebuyers aren’t the only ones helped by this bill, since it allows for up to a $6,500 tax credit for current Denver homeowners, who have been in their home for at least five years. The time frame is the same for this tax credit (for contracts signed by April 30 and closed by June 30th of 2010). The credit is for residences that are purchased for $800,000 or less. The President is expected to sign this into law on Friday.
This should be a big help to a Denver real estate market that is already in recovery mode. If you are eligible for this credit, don’t miss your opportunity to take advantage of this once in a life time opportunity. For more information regarding Denver real estate, or regarding the tax credits, please contact TeamCox Realtors at 303-400-6060.
Read More About the Homebuyer Tax Credit
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