{"id":27160,"date":"2009-10-30T00:39:42","date_gmt":"2009-10-30T04:39:42","guid":{"rendered":"https:\/\/www.ewmrealestate.com\/blog\/?p=27160"},"modified":"2019-04-23T20:55:25","modified_gmt":"2019-04-23T20:55:25","slug":"tax-credits-for-homebuyers-update","status":"publish","type":"post","link":"https:\/\/ewmrealestate.com\/blog\/tax-credits-for-homebuyers-update\/","title":{"rendered":"Tax Credits for Homebuyers Update"},"content":{"rendered":"<p>All we&#8217;ve been hearing as of late is that the $8000 tax credit for first time homebuyers ends on November 30th. Not good news for anyone who isn&#8217;t already in the late stages of a home purchase. Well, there seems to be good news on the horizon.<\/p>\n<p>While a final deal was not yet reached, there are encouraging signs that a new deal is very likely. It is more a question of \u201cwhen\u201d than \u201cif\u201d.<\/p>\n<p>The proposed deal (which is still subject to change) would extend the tax credit until April 30, 2010 and also expand it to \u201cmove up\u201d borrowers.<\/p>\n<p>Details of the revised homebuyer credit reportedly are as follows:<\/p>\n<ul>\n<li>Credit is changed to 10% of sales price up to $7290<\/li>\n<li>For first time homebuyers, the income level to qualify is $75,000 single\/$150,000 married.<\/li>\n<li>For \u201cmove up\u201d buyers the income level to qualify is $125,000 single\/$250,000 married.<\/li>\n<li>For \u201cmove up\u201d buyers, they must have been residing in their primary residence for 5 years.<\/li>\n<li>The credit runs from Dec. 1, 2009 to April 30, 2010.\n<ul>\n<li>Sales contracts signed as of April 30, 2010 would have 60 days to close.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>The cost of the tax credits are steep, some say they approach $1 billion per month, but no one can argue that they are helping to prop up the housing market with over 1.2 million people claiming the credit this year alone. Many of those homebuyers said the credit was the deciding factor to their purchase decision. The tax break, enacted earlier this year as part of the $787 billion economic stimulus package, has \u201cbrought new families into the housing market and contributed to three consecutive months of rising home prices,\u201d Treasury Secretary <a href=\"http:\/\/search.bloomberg.com\/search?q=Timothy+Geithner&amp;site=wnews&amp;client=wnews&amp;proxystylesheet=wnews&amp;output=xml_no_dtd&amp;ie=UTF-8&amp;oe=UTF-8&amp;filter=p&amp;getfields=wnnis&amp;sort=date:D:S:d1\">Timothy Geithner<\/a> said today in a <a href=\"http:\/\/www.treas.gov\/press\/releases\/tg336.htm\" target=\"_blank\" rel=\"noopener noreferrer\">statement<\/a>.<br \/>\nWe are continuously monitoring this evolving story. Should you have any questions about how the tax credits can work for you, please contact Elena (kemper.e@ewm.com) or Libby (klein.l@ewm.com) directly.<\/p>\n<p>For more real estate insight be sure to visit http:\/\/kemperkleinrealtors.com<\/p>\n","protected":false},"excerpt":{"rendered":"<p>All we&#8217;ve been hearing as of late is that the $8000 tax credit for first time homebuyers ends on November 30th. Not good news for anyone who isn&#8217;t already in the late stages of a home purchase. Well, there seems to be good news on the horizon. While a final deal was not yet reached,<\/p>\n<p class=\"more-link\"><a href=\"https:\/\/ewmrealestate.com\/blog\/tax-credits-for-homebuyers-update\/\" class=\"themebutton2\">Read More<\/a><\/p>\n","protected":false},"author":5543,"featured_media":130092,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_expiration-date-status":"","_expiration-date":0,"_expiration-date-type":"","_expiration-date-categories":[],"_expiration-date-options":[]},"categories":[11767],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tax Credits for Homebuyers Update - BHHS EWM Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ewmrealestate.com\/blog\/tax-credits-for-homebuyers-update\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tax Credits for Homebuyers Update - BHHS EWM Realty\" \/>\n<meta property=\"og:description\" content=\"All we&#8217;ve been hearing as of late is that the $8000 tax credit for first time homebuyers ends on November 30th. Not good news for anyone who isn&#8217;t already in the late stages of a home purchase. Well, there seems to be good news on the horizon. While a final deal was not yet reached,Read More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ewmrealestate.com\/blog\/tax-credits-for-homebuyers-update\/\" \/>\n<meta property=\"og:site_name\" content=\"BHHS EWM Realty\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/EWMRealtyInternational\" \/>\n<meta property=\"article:published_time\" content=\"2009-10-30T04:39:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-04-23T20:55:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ewmrealestate.com\/blog\/wp-content\/uploads\/2019\/06\/BHHS-On-Solid-Background.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"376\" \/>\n\t<meta property=\"og:image:height\" content=\"376\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Elena M. Kemper, P.A.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Elena M. Kemper, P.A.\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ewmrealestate.com\/blog\/tax-credits-for-homebuyers-update\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/ewmrealestate.com\/blog\/tax-credits-for-homebuyers-update\/\"},\"author\":{\"name\":\"Elena M. Kemper, P.A.\",\"@id\":\"https:\/\/ewmrealestate.com\/blog\/#\/schema\/person\/28c8c59406831d38d192ee645b943b28\"},\"headline\":\"Tax Credits for Homebuyers Update\",\"datePublished\":\"2009-10-30T04:39:42+00:00\",\"dateModified\":\"2019-04-23T20:55:25+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ewmrealestate.com\/blog\/tax-credits-for-homebuyers-update\/\"},\"wordCount\":323,\"publisher\":{\"@id\":\"https:\/\/ewmrealestate.com\/blog\/#organization\"},\"articleSection\":[\"EWM News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ewmrealestate.com\/blog\/tax-credits-for-homebuyers-update\/\",\"url\":\"https:\/\/ewmrealestate.com\/blog\/tax-credits-for-homebuyers-update\/\",\"name\":\"Tax Credits for Homebuyers Update - BHHS EWM Realty\",\"isPartOf\":{\"@id\":\"https:\/\/ewmrealestate.com\/blog\/#website\"},\"datePublished\":\"2009-10-30T04:39:42+00:00\",\"dateModified\":\"2019-04-23T20:55:25+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/ewmrealestate.com\/blog\/tax-credits-for-homebuyers-update\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ewmrealestate.com\/blog\/tax-credits-for-homebuyers-update\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ewmrealestate.com\/blog\/tax-credits-for-homebuyers-update\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ewmrealestate.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Tax Credits for Homebuyers Update\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ewmrealestate.com\/blog\/#website\",\"url\":\"https:\/\/ewmrealestate.com\/blog\/\",\"name\":\"BHHS EWM Realty\",\"description\":\"Blog\",\"publisher\":{\"@id\":\"https:\/\/ewmrealestate.com\/blog\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ewmrealestate.com\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ewmrealestate.com\/blog\/#organization\",\"name\":\"BHHS EWM Realty\",\"url\":\"https:\/\/ewmrealestate.com\/blog\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ewmrealestate.com\/blog\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ewmrealestate.com\/blog\/wp-content\/uploads\/2019\/06\/BHHSLogo2_2019.png\",\"contentUrl\":\"https:\/\/ewmrealestate.com\/blog\/wp-content\/uploads\/2019\/06\/BHHSLogo2_2019.png\",\"width\":1804,\"height\":345,\"caption\":\"BHHS EWM Realty\"},\"image\":{\"@id\":\"https:\/\/ewmrealestate.com\/blog\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/instagram.com\/ewmrealty\/\",\"https:\/\/www.facebook.com\/EWMRealtyInternational\",\"https:\/\/twitter.com\/ewmrealty\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/ewmrealestate.com\/blog\/#\/schema\/person\/28c8c59406831d38d192ee645b943b28\",\"name\":\"Elena M. Kemper, P.A.\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ewmrealestate.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/e66106c1a33d733796eafa2a486e315f?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/e66106c1a33d733796eafa2a486e315f?s=96&d=mm&r=g\",\"caption\":\"Elena M. Kemper, P.A.\"},\"sameAs\":[\"http:\/\/www.elenakempergroup.com\"],\"url\":\"https:\/\/ewmrealestate.com\/blog\/author\/87\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Tax Credits for Homebuyers Update - BHHS EWM Realty","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ewmrealestate.com\/blog\/tax-credits-for-homebuyers-update\/","og_locale":"en_US","og_type":"article","og_title":"Tax Credits for Homebuyers Update - BHHS EWM Realty","og_description":"All we&#8217;ve been hearing as of late is that the $8000 tax credit for first time homebuyers ends on November 30th. Not good news for anyone who isn&#8217;t already in the late stages of a home purchase. Well, there seems to be good news on the horizon. While a final deal was not yet reached,Read More","og_url":"https:\/\/ewmrealestate.com\/blog\/tax-credits-for-homebuyers-update\/","og_site_name":"BHHS EWM Realty","article_publisher":"https:\/\/www.facebook.com\/EWMRealtyInternational","article_published_time":"2009-10-30T04:39:42+00:00","article_modified_time":"2019-04-23T20:55:25+00:00","og_image":[{"width":376,"height":376,"url":"https:\/\/ewmrealestate.com\/blog\/wp-content\/uploads\/2019\/06\/BHHS-On-Solid-Background.jpg","type":"image\/jpeg"}],"author":"Elena M. Kemper, P.A.","twitter_misc":{"Written by":"Elena M. Kemper, P.A.","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ewmrealestate.com\/blog\/tax-credits-for-homebuyers-update\/#article","isPartOf":{"@id":"https:\/\/ewmrealestate.com\/blog\/tax-credits-for-homebuyers-update\/"},"author":{"name":"Elena M. Kemper, P.A.","@id":"https:\/\/ewmrealestate.com\/blog\/#\/schema\/person\/28c8c59406831d38d192ee645b943b28"},"headline":"Tax Credits for Homebuyers Update","datePublished":"2009-10-30T04:39:42+00:00","dateModified":"2019-04-23T20:55:25+00:00","mainEntityOfPage":{"@id":"https:\/\/ewmrealestate.com\/blog\/tax-credits-for-homebuyers-update\/"},"wordCount":323,"publisher":{"@id":"https:\/\/ewmrealestate.com\/blog\/#organization"},"articleSection":["EWM News"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/ewmrealestate.com\/blog\/tax-credits-for-homebuyers-update\/","url":"https:\/\/ewmrealestate.com\/blog\/tax-credits-for-homebuyers-update\/","name":"Tax Credits for Homebuyers Update - BHHS EWM Realty","isPartOf":{"@id":"https:\/\/ewmrealestate.com\/blog\/#website"},"datePublished":"2009-10-30T04:39:42+00:00","dateModified":"2019-04-23T20:55:25+00:00","breadcrumb":{"@id":"https:\/\/ewmrealestate.com\/blog\/tax-credits-for-homebuyers-update\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ewmrealestate.com\/blog\/tax-credits-for-homebuyers-update\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ewmrealestate.com\/blog\/tax-credits-for-homebuyers-update\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ewmrealestate.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Tax Credits for Homebuyers Update"}]},{"@type":"WebSite","@id":"https:\/\/ewmrealestate.com\/blog\/#website","url":"https:\/\/ewmrealestate.com\/blog\/","name":"BHHS EWM Realty","description":"Blog","publisher":{"@id":"https:\/\/ewmrealestate.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ewmrealestate.com\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ewmrealestate.com\/blog\/#organization","name":"BHHS EWM Realty","url":"https:\/\/ewmrealestate.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ewmrealestate.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/ewmrealestate.com\/blog\/wp-content\/uploads\/2019\/06\/BHHSLogo2_2019.png","contentUrl":"https:\/\/ewmrealestate.com\/blog\/wp-content\/uploads\/2019\/06\/BHHSLogo2_2019.png","width":1804,"height":345,"caption":"BHHS EWM Realty"},"image":{"@id":"https:\/\/ewmrealestate.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/instagram.com\/ewmrealty\/","https:\/\/www.facebook.com\/EWMRealtyInternational","https:\/\/twitter.com\/ewmrealty"]},{"@type":"Person","@id":"https:\/\/ewmrealestate.com\/blog\/#\/schema\/person\/28c8c59406831d38d192ee645b943b28","name":"Elena M. Kemper, P.A.","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ewmrealestate.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/e66106c1a33d733796eafa2a486e315f?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/e66106c1a33d733796eafa2a486e315f?s=96&d=mm&r=g","caption":"Elena M. Kemper, P.A."},"sameAs":["http:\/\/www.elenakempergroup.com"],"url":"https:\/\/ewmrealestate.com\/blog\/author\/87\/"}]}},"_links":{"self":[{"href":"https:\/\/ewmrealestate.com\/blog\/wp-json\/wp\/v2\/posts\/27160"}],"collection":[{"href":"https:\/\/ewmrealestate.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ewmrealestate.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ewmrealestate.com\/blog\/wp-json\/wp\/v2\/users\/5543"}],"replies":[{"embeddable":true,"href":"https:\/\/ewmrealestate.com\/blog\/wp-json\/wp\/v2\/comments?post=27160"}],"version-history":[{"count":1,"href":"https:\/\/ewmrealestate.com\/blog\/wp-json\/wp\/v2\/posts\/27160\/revisions"}],"predecessor-version":[{"id":127473,"href":"https:\/\/ewmrealestate.com\/blog\/wp-json\/wp\/v2\/posts\/27160\/revisions\/127473"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ewmrealestate.com\/blog\/wp-json\/wp\/v2\/media\/130092"}],"wp:attachment":[{"href":"https:\/\/ewmrealestate.com\/blog\/wp-json\/wp\/v2\/media?parent=27160"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ewmrealestate.com\/blog\/wp-json\/wp\/v2\/categories?post=27160"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ewmrealestate.com\/blog\/wp-json\/wp\/v2\/tags?post=27160"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}