East Bay Area Real Estate

UPDATE: The House voted 403-12 Thursday to expand a popular tax credit for homebuyers.

Read more Obama set to sign a big tax break for homebuyers

First-time homebuyers have been getting tax credits of up to $8,000 since January as part of the economic stimulus package. But with that housing program scheduled to expire at the end of November, the House voted to extend it into the spring — and to expand it to many people who already own homes.

Buyers who have owned their current homes at least five years would be eligible, subject to income limits, for tax credits of up to $6,500. First-time homebuyers — or people who haven’t owned homes in the previous three years — could get up to $8,000. To qualify, buyers have to sign purchase agreements before May 1 and close before July 1
Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2009/11/05/national/w001952S53.DTL&type=realestate#ixzz0W2baB2AT

Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2009/11/05/national/w001952S53.DTL&type=realestate#ixzz0W2bR4CTZ

Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2009/11/05/national/w001952S53.DTL&type=realestate#ixzz0W2bNK1ND

Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2009/11/05/national/w001952S53.DTL&type=realestate#ixzz0W2bEQRBQ

There is talk about extending the Homebuyer Tax Credit until April

Information from several sources:

Reuters: http://www.reuters.com/article/politicsNews/idUSTRE59R55P20091028
CNN: http://money.cnn.com/2009/10/28/real_estate/homebuyer_credit/
Business Week: http://www.businessweek.com/blogs/money_politics/archives/2009/10/expanded_home_b.html
SFGate.com: http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2009/10/28/national/w143206D06.DTL