Tax Credit Extension, Expansion Passed and Signed into Law by President Obama
President Obama signed legislation to extend the $8,000 home buyer tax credit for first-time buyers and add a $6,500 tax credit for repeat buyers who have lived in their home for five of the previous eight years. Income limits are expanded to $125,000 for individuals and $225,000 for joint filers. Households who have binding contracts in place by April 30 will be allowed an additional 60 days to complete their transaction. The legislation places an $800,000 cap on the home sale price. The legislation was included in a broader bill to extend unemployment benefits. See below for links to several documents detailing the new legislation.

Highlights of the new federal tax credit prepared by Blum Shapiro

NAR Press Release

Changes to the Homebuyer Tax Credit Law

Overview of the Homebuyer Tax Credit as Prepared by the Staff of Senator Dodd
Frequently Asked Questions About the New Bill

Click here to see a video of CAR's President Linda St. Peter regarding the homebuyer tax credit.

REALTORS® at the Capitol 2010

Registration is now open for REALTORS® at the Capitol 2010 which will be held March 24, 2010 in Hartford. This event is free and all members are encouraged to attend. Every attendee makes a difference! Support your industry and your clients. Information and an online registration form is available at www.ctrealtor.com/rac/.