By Liz Thomas/Network Indiana
11/18/2009
Several Indiana real estate companies are reporting a home sales surge they attribute to first-time homebuyers trying to close on their residence prior to the original tax credit deadline.
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Reports from multiple local realty businesses indicate about a 20-percent increase in homes sold in October from the same month last year.
Real estate broker Greg Cooper says sales are also expected to eventually get another boost from the extension of the federal first-time home buyer's tax credit through April 2010.
First-time homebuyers with adjusted gross incomes up to $125,000 for singles or $225,000 for married couples can get up to $8,000 with the tax credit.
Current homeowners can also qualify for a credit of $6,500 if they've lived in their primary residence for five concurrent years out of the past eight and meet the same income thresholds as first-time buyers.
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