Savings Splurge: Local Experts on Federal Tax Credits
By Rachel • Nov 20th, 2009 • Category: Condo Living, Finance
by Rachel Kaufman
Published in Washington Post Express
2009-11-20
Those aspiring to own real estate who didn’t think they’d make the deadline for a tax credit now have eight thousand more reasons to buy: On Nov. 6, the government extended the $8,000 tax credit for first-time homebuyers for another six months. Instead of expiring on Nov. 30, buyers now have until April 30, 2010 to sign a contract for a home.
In addition, the Worker, Homeownership and Business Assistance Act of 2009 authorized a tax credit of up to $6,500 for existing homeowners trading in for new digs. Both credits are aimed at getting people who would have bought a place in the next few years to hurry it up a little. The government’s hoping that driving up home sales will help shore up the economy.
We checked in with three people you’ll be seeing a lot of if you decide to take advantage of these deals — a Realtor, a mortgage expert and an accountant — to find out how you can maximize your financial savings if you decide to buy.
Read the rest at ExpressNightOut.com
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