It is available now, what I know for sure is you would need to act quickly to take advantage of the tax credit.

If you do not already have one I highly recommend you contact a Realtor to partner with and create a buying strategy and narrow your search which will save you time and money.

Tax Credit info: http://www.federalhousingtaxcredit.com/2009/index.html

I have contacts in that area, please let me know if you would like names.

Sincerely,

Chris Capps, Realtor
Residential Real Estate Specialist

cell 804.896.6945
office 804.740.1644 ext. 103
fax 804.545.7224
email chriscapps@oakstoneproperties.com
web http://www.chriscapps.com

“It's Time to Expect More From Your Realtor®”

Licensed in Virginia, with contacts across the country

Hello Homebuyer:

At present, there are no less than four bills floating around Congress intended to extend, increase, change, amend the home buyer credit. One of the most interesting bills will increase the credit to $15000 per purchase and will be available both to those who are first time, as well as those who have purchased homes in the past. None of the credits, however, will apply to those purchase investment or income producing properties.

In reviewing the Congressional bill status website, most of these bills to extend or amend the credit remains stalled in their respective committees. One of the reasons for the lack of movement is, of course, that Congress is taking a 'wait and see" approach to the economy. I suspect that if the economy does not show signs of reviving in 2010, the housing credit may be revisited. The other reason is that the general public is not currently in favor of any further plans intended to bail-out or incentivize sales while further increasing the $9 trillion plus deficit expected by the CBO, so again, there is reluctance on the part of Congress to so quickly provide incentives that so clearly divide those who can buy homes from those who are losing their homes.

At present, I'd say we're looking at a 50/50 chance of any additional credits in 2010. Everything will hinge on the economy at the end of this year and Q1 of next year.

Sincerely,
Grace Morioka, SRES, e-Pro
Area Pro Realty

Hi HomeBuyer,
As Don has said not yet there are two bills I know of one is to extend the credit of $8000, but there is another bill for $15,000 which is less likely to pass, but you never know.
Lets hope one of them passes, send your congressman or represenative a note that you want an extension of the tax credit.
Regards,
Allyson
408-705-6578
allyson@homesbyallyson.com
DRE# 01397256

Keeping my fingers crossed, but not yet.

Glen

Not yet. It's being considered, but hasn't been acted on yet.