Bill provides tax credit if house is bought soon

I know I already posted today about the lowest mortgage rates, ever! But the good news for first time home buyers just keeps on coming!! If you live in Georgia and you are a first time home buyer, you need to get moving. They just passed a bill giving first time home buyers a $3600 TAX CREDIT but only if you close in the next six months... so come on give me a call!

Bill provides tax credit if house is bought soon
By Walter C. Jones Morris News Service
Friday, March 27, 2009

ATLANTA --- The state could pay those who act quickly to buy their next home under legislation that passed the Senate on Thursday.

House Bill 261, sponsored by Rep. Ron Stephens, R-Savannah, would grant a $3,600 tax credit to people who buy a house in the next six months.

The Senate tacked two amendments onto the version approved by the House: one to include condos and documentation for the taxman, and a second to allow tax refunds to be donated to multiple sclerosis education.

The measure passed 42-4 in the Senate, with supporters calling it an aid to economic recovery.
With the Georgia housing industry suffering a 13 percent slump because of a growing inventory of unsold homes, other industries are being affected, said Sen. Chip Pearson, R-Dawsonville.

"The local hardware store, moving company, paint store, service business and others are all affected by housing, and this legislation has them in mind," he said.