There is no hiding the fact that the government is doing all they can to revive the economy. The $8k first-time homebuyer tax credit has gone a long way in doing this. And now it looks as if the credit will be extended until April 2010 – as long as President Obama signs off on it.
photo by americanher auf reisen (cc2.0)
Learn how to use the government grant for first time homebuyers.
Most real estate agents agree that the housing market has seen a pickup directly related to the housing credit.
Another benefit has been added to the plan this time around. Homeowners who have been in their current residence at least five years can buy a new property and receive up to a $6,500 credit. This should help out the real estate market even more because it is geared towards current homeowners, not just those looking to buy for the first time.
With another six months to buy, it is safe to say that people all over the United States will continue to search for a home so they can receive the applicable tax credit. It is the hopes of the government that this will continue to give the American economy a much needed boost.
