$8,000 Tax Credit
Gets New Life
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Senate negotiators reached a tentative deal to extend a tax credit
for first-time home buyers, but its passage remains uncertain. The agreement would extend the existing credit for first-time home
buyers, worth up to $8,000, while offering a new credit of up to $6,500
for some existing homeowners. The reduced credit
would be available to all home buyers who have been in their current
residence for a consecutive five-year period in the past eight years. The credit would be extended to all contracts entered into by April 30, and closed before
July 1. It is expected that income limits on people claiming the credit
would be increased to $125,000 for singles and $250,000 for couples,
from the current $75,000 and $150,000, aides said. |
What is the nickname for the day that kicks off the holiday online shopping season between Thanksgiving and Christmas?
Everyone who emails the correct answer will be entered into a drawing to win a $35 gift certificate to Outback Steakhouse. Congrats to last month's winner, Bethany Suess.
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The average home price is forecast to plummet over the next two years. But Seattle is 1 of 7 cities predicted to post gains. Seattle has become a world-class city with a diverse, vibrant economy. As a home to manufacturers such as Boeing and software providers such as Microsoft, the job market has held up better than average, with a current unemployment rate of 8.8%. Home prices had a softer landing as well, dropping just 15.2% over the past three years, about half the national average. 