Ann Arbor and Saline Michigan Residents, below is a chart comparing the Extended Version of the Tax Credit to the one that is expiring on November 30th.
Charts are so much easier to understand.
Homes for sale in Ann Arbor and Saline.
Below is a chart prepared by the National Association of REALTORS ® comparing the new changes to the Homebuyer Tax Credit.
The biggest change is that current Homeowners are now eligible if they sell their current homes and then buy AFTER the date of enactment of this extension which is November 6th, 2009.
Because of widespread incidents of fraud, purchasers must now attach documentation proving they actually bought a qualifying home to qualify for the credit.
Additinally the income guidelines have been increased, now a single taxpayer can qualify if they earn up to $125,000 and up to $225,000 for married taxpayers.
The rationale for increasing the income limits and expanding the credit to existing homeowner is that it should encourage more higher priced home purchases. Currently the existing tax credit was driving mostly lower end purchases.
Jim Lee, CRS, ABR, GRI, ACRE, NAR Certified e-PRO Trainer
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Realty Executives Associates, Knoxville, Tennessee
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Missy, That is GREAT. I don't normally reblog but reblogged George Souto's post yesterday and now I'm off to re-blog this one.
Great easy to read information. Love the chart.
Thank you for the chart. that really makes it easy.
Hi Missy, Boy this post is surely getting a bunch of re-blogs. It would be nice to be able to copy this ( ??) and add it to the bottom of my emails for m clients and prospects. A nice viral way of getting the informationout accurately. This chart makes it all very clear for anyone. Thanks for the re-blog.
PS, Are you coming next week for REBar Camp on Thursday? Sharon Simms gets in on Tuesday
We too got this chart yesterday and it sure makes things easier to understand. ~Rita
Missy
Thanks for taking the time to post the information.
Good luck and success.
Lou Ludwig
I got this chart yesterday and it made it very easy to communicate the differences. Hope you and the family are doing well Missy !
The chart is very easy to follow and understand. I guess I would provide both if I was writing about this subject:)
Thanks for sharing the great chart, Missy. I always love charts, since they tend to boil everything down into simple terms.
Side by side comparison makes it easy to spot the changes. This former teacher loves it!