Home Buyer Tax Credits Could Expand

I'm so excited I have personally seen the positive results from the tax credits being issued by the the government. This is definitely helping the Salt Lake City Utah Real Estate Market.

I read in USA Today about the proposals for improving these tax credits. Here is what they had to say.

"A first-time home buyer tax credit of up to $8,000 has helped to move housing inventory during an otherwise sluggish real estate cycle. Now both legislators and the business community are hoping to build on the incentive's success by expanding it.

A number of bills have been introduced in the House and the Senate that lobby for an expansion of the measure. Among the proposed changes:

• Setting a new cap of $15,000.

• Extending the tax break into mid-2010.

• Making the benefit available to all home buyers, not just first-timers.

• Offering a separate tax credit to $3,000 for borrowers who refinance. "

USA Today, Stephanie Armour (06/22/09)

This is exciting news. Our Salt Lake City Real Estate Market is definitely improving.