Fort Lauderdale Blog

Chinese Drywall Is at Issue!

So, the U.S. Consumer Product Safety Commission has released a report finding there is a strong correlation between Chinese drywall and excessive corrosion of pipes and wiring in these homes.

Picture of corroded AC coil in Florida home.

 

 

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Federal Tax Credit is Extended

President Obama is signed the bill passed by Congress extending and expanding the first-time homebuyer tax credit to homes under contract before May 1, 2010.

The credit, equal to 10 percent of a home's purchase price, remains capped at $8,000 for first-time homebuyers, but income limits have been raised.

Congress also approved an expansion of the credit to allow homeowners who have been in a principal residence for at least five of the last eight years to claim a tax credit of up to $6,500 if they sell that home and buy another.

That will provide an incentive not only for entry level, but move-up buyers!

 

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