Fort Lauderdale and Miami Real Estate Resource for Buying and Selling Homes

The White House has extended and expanded the home buyer tax credit through June 30, 2010, as long as a binding sales contract is signed no later than April 30, 2010. First-time home buyers and non-first-time home buyers are now eligible for the credit. Highlights of the expanded home buyer tax credit are:

• the tax credit applies to homes purchased after November 6, 2009 and before July 1, 2010
• first-time home buyers and non-first-time home buyers are eligible
• income limits are increased to $125,000 for single taxpayers and $225,000 for married taxpayers for the full credit; and $145,000 single and $245,000 married for the partial credit
• military personnel on extended duty outside the U.S. get an extra year to buy a house and claim the credit