Green Bay Real Estate Market Now Has Extended Tax Credit

If you’ve been pondering putting that Green Bay Home on the Real Estate Market now may very well be a great opportunity for you to do so. The extension of the Great News for Green Bay Real Estate Market First Time Home Buyer Credit has been enacted and put into place already. So what does this mean for buyers and sellers in the Green Bay Real Estate Market? Buyer’s that may have procrastinated now don’t have to be in rush, rush mode! Green Bay Home Sellers now have a new target market of ready, willing and able buyers.

Who can benefit from the Expanded home buyer tax credit?

A Green Bay first time home buyer is classified as someone who has not owned a residence during the three years prior to purchase. The new expanded home buyer tax credit now also includes a $6,500 credit for any Green Bay WI home owners that have lived in their prior residence for at least five consecutive years.

The new tax credit has also new higher income limitations for couples earning up to $225,00 and individuals up to $125,00 would be applicable instead of the old limits of $75,00 limit for individuals and $150,000 for couples. One of the biggest increase is on the loan limits they allow a maximum home purchase price of $800,000. As with the first tax credit there are specific deadlines that must be met. This tax credit requires that home buyers must close escrow by April 30, 2010.

Green Bay Home Owners should see a boost in Existing home sales

This new tax credit and expansion of the program is great news for the Green Bay Real Estate Market. We all know that the housing market is one of the key indicators of the overall United States Economy. With this new initiative they are not just rewarding first time home buyers, they are giving an opportunity for existing Green Bay Home Owners that were thinking of making an upgrade an extra bonus.

The previous first time home buyer tax credit according to the National Association of Realtors (NAR) has accounted for 1.2 million new first time home buyer transactions of new and existing homes were attributed to the tax credit, which has reduced supply and demand in some sectors of the Green Bay Real Estate Market. NAR has estimated that 350,000 of the 1.2 million wouldn’t have purchased their homes without the credit.

Time to buy or sell real estate in Green Bay Wisconsin

With the enactment of the tax credit now is a great time to buy real estate in Green Bay Wisconsin and take advantage of tax credit not only for Green Bay First Time Home Buyers. If you would like more information about this new tax credit or are interested in buying or selling a Green Bay Home please contact Green Bay Real Estate Expert Greg Dallaire.

Greg Dallaire, also known as “Green Bay Greg” is the ‘premier’ Green Bay WI Real Estate expert. Greg’s approach is cutting edge, utilizing creative Internet marketing strategies to get your Green Bay WI Home SOLD! If you are looking for a true local expert with a proven track record of success in the Green Bay WI Real Estate market, give “Green Bay Greg” a call today at 920-217-2647. Watch Video Testimonials of Green Bay Greg’s Past Clients