Athens GA Properties, Athens Georgia Homes, and Athens Real Estate

From the Senate Banking Committee Chair we are now hearing that Senate Democrats have agreed to extend the first-time home buyer tax credit set to expire on December 1, 2009. The latest variation extends the tax credit to homes “under contract,” but not closed by April 30, 2010.

Purchasers would have 60 days to close the sale from this date. The credit will also be expanded to include “step-up buyers” who have lived in their current home for at least five years.  For repeat buyers this tax credit would be slightly less with a $6,500 cap.

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