Loudoun County Real Estate Notes – First Time Homeowners Tax Credit Extended

Following the Senate’s approval this week, the House overwhelmingly voted to extend the First Time Home Buyer’s credit program from November 30th 2009 until April 30, 2010, and include benefits for current homeowners as well.

From the FOX 5 WTTG news station, courtesy of Melanie Alnwick (FOX 5 Money Reporter), “There is now a $6,500 credit for existing homeowners. They must have lived in the home for five years of the last eight years, and purchases must be less than $800,000. Income limits were also increased. Now couples making up to $225,000 and individuals making up to $125,000 can qualify. The National Association of Realtors reported that pending home sales rose in September for a record eight straight months. Vice President of Research Paul Bishop says 1.8 million people have taken advantage of the stimulus already, and it would like to see the momentum continue.”

Ingrid Myers, Realtor in Loudoun, Prince William, Fairfax and other Northern Virginia and Maryland locations, says “it’s a huge deal”, and many people waiting in the pipeline to buy homes will likely be motivated to buy now.

Find more about Loudoun County Real Estate and Leesburg Real Estate market values at this report, a Retweet of @novarealestate and @averyhess

See Melanie Alnwick’s full report on the First Time Home Owner’s Credit Extension and its impact on Northern Virginia and Loudoun Real Estate

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