Tax Credit extension!

1. President Obama signed the extension today. Effective today!
      a. The credit will be phased out for individuals above $125,000 and for 
          couples above $225,000.
         (raised from a $75,000 limit for individuals and $150,000 for couples)
      b. must sign a contract by April 30, 2010 and close on the house by June 30, 2010. 
      c. homes that cost more than $800,000 aren’t eligible for the credit

2. First timers (haven't owned a home in the last three years): $8000 

3. Move-up buyers (lived in their prior residence for 5 of the prior 8 years): $6,500
    
4. Military: extended an additional year, until June 30, 2011, for members of the military 
serving outside the United States for at least 90 days.

**** About 1.4 million first-time homebuyers have qualified for the credit, and about 
         350,000 of them would not have purchased their homes without it.

Let's get together and talk about your home buying and/or selling plans. Call me at the office (313-274-1700) or on my cell phone (313-205-8350) or send me an e-mail (Jessica.Homan@Century21.com), we'll set-up a time that is easy and convenient for you to meet.

P.S. If you're not ready to meet in person, please tour through my website. I'm sure you'll find the resources here useful and helpful. Enjoy!