Today, President Obama is expected to sign the 2010 homebuyer tax credit extension, which will extend the current $8,000 tax credit for married couples on binding contracts written by April 30, 2010, and closed by July 1, 2010.
Current homeowners selling their current home and buying another principal residence can receive up to $6,500 in tax credit, so long as they used their current home as a principal residents consecutively for 5 of the previous 8 years..
There are income and purchase price limits to eligibility, so please review this link from the National Association of REALTORS Government Affairs Division for details. As always, you're always welcome contact me for further information.
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