Posted on November 7, 2009
The $8,000 first time home owners refundable tax credit has been extended and expanded! The extension is until next April 30 2010. In fact it is longer than that. A buyer must enter into a purchase and Sales agreement on a home by April 30 but may close within 60 days thereafter. The Expanded portion of th tax credit is for other home buyers that have owned a home for 5 out of the last 8 years. These home buyer will receive $6,500 tax credit. This tax credit is refundable which means that if a home buyer paid no tax or less than $8,000 or $6,500 in federal income tax the home buyer would receive a refund for the difference.
The expanded aspect of the home buyers tax credit is expected to boost home sales substantially and bring home seller's to the market who have been sitting on the side lines.
Bellingham has a well deserved reputation as one of the best and most livable cities in North America. Bellingham has ranked as one of the top best cities to live in by Outside Magazine, AARP. and recently has ranked as the 5th best city in the United states for activities such as parks, trails, recreation, fishing, boating, sailing, snow and water skying live theater. music concerts. festivals, dining, sports activities, including spectating and access to world class entertainment in nearby Vancouver B.C. or Seattle WA.