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Obama signs US Tax credit extension
President Barack Obama signed the U.S. tax credit extension of home buyers who close on or before April 30, 2010.

Obama signs US Tax credit extension

By Sondra Slappey

November 7, 2009 —  Obama signed an extension to the home buyers $8000 tax credit.

The credit will extend to buyers who close on or before April 30, 2010 and includes buyers who wish to purchase a more expensive home.

The credit applies to homes with a purchase price under $800,000. The income limits were raised to $125,000 for single taxpayers and to $225,000 for those filing jointly. The previous income limits were $75,000 / $150,000.

An estimated 2 million buyers will take advantage of this tax credit extension.

The real estate markets need all of the help they can get. This is a boost and will certainly help what will likely be a soft 2010.

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