St. Louis Missouri 
Breaking News...House and Senate Pass Bill to Extend and Expand Home Buying Tax Credit
The House passed the extension and expansion of the home buyer tax credit 403 to 12. The bill has now made it passed both the House and the Senate and is on its way to the President's desk and could be signed as early as tomorrow.
Here is a summary of the new modifications in the extension and expansion of the tax credit:
1) The $8,000 tax credit will be extended and available for first-time purchases before May 1, 2010.
2) Prospective purchasers with binding contracts in place as of April 30, 2010, will be allowed an additional 60 days to complete the transaction.
3) A new $6,500 tax credit will be available for repeat buyers who purchase between December 1, 2009, and May 1, 2010. To qualify for this provision, buyers must have used the home sold or being sold as a principal residence consecutively for 5 of the previous 8 years.
4) Income limits are expanded to $125,000 on a single return and $225,000 on a joint return.
If you know anyone looking to buy their first home or take advantage of the new credit in the St. Louis area, please contact me today. Interest rates are still very low and prices are good.
Real estate needs: www.SelectAnn.com . For all your real estate needs in the St. Louis area. Updated daily. Sign on for FREE! Whether you are buying or selling, let me help you!
All rights reserved and may not be reproduced or reprinted without express written permission of Ann Hayden, real estate agent with Prudential Select Properties Chesterfield, Ballwin, Wildwood Office. Information deemed reliable but not guaranteed.
Ann Hayden Realtor St. Louis Missouri
For All Your real estate needs: www.SelectAnn.com
© Ann Hayden, 2008-2009.
Ann.. This is the talk in the real estate field. Even Sheldon Neal blogged about this earlier. This is great news. I just wonder with the government giving us so much... what are they going to take away?
Valerie,
I have no idea what we will have to give up. This is the talk of all of my buyers right now. Some did not find the house so they are still looking...
Ann
Ann,
I agree with Valerie, it does make one wonder what will be the end result in this. Yes it is a good thing for real estate, but somewhere in all of this someone will have to p[ay the piper.
Ann, How did you get the particulars on this bill...pretty good sources or research.
Perhaps this will help new clients in 1st Time Home Buyer field; the additional $6500. for those moving on / up to another home has been expressed in other blogs as 'moving up to a bigger residence'. i only wish that a bigger down-payment would be required this time to avoid the % of first time home buyers who have already defaulted this year. However you found the info, Good job.
Hope that St. Louis will be good to you and your clients. Pray for some areas here in Michigan.
Don,
Better the ones who always pay getting a benefit than the ones who only make money off the government....?
Ann
Barb and Sal,
I will pray for all who are experiencing hardships. I know there are many. We need to bring back manufacturing to the USA!
Ann
Hi Ann, I think this is a good thing. I hope it will serve to keep us moving in the right direction to some sort of recovery. I hope your buyers will find the house they want. :-)
All I can say is, YIPPPEEEEEE!!!! This is great news for the housing market, for buyer and for sellers, too!
Ann the House has passed this Bill as well and the President signed it today. So this will all be effective tomorrow.
Mary,
Thank you... Yes, I hope they do too. I am searching!!
Ann
Debra,
I think it is good news too!
Ann
George,
Thank you for the heads up...
Ann