2010 should be a good year for potential home buyers. Obama has recently signed legislation that extends a first time home buyers tax credit. It gives both new and move-up buyers a tax incentive to buy a home until at least April 20, 2010, and even longer for military personnel.
In a depressed economy, companies like Sightline Acquisition Corp, with CEO Kirk Sanford, have been working to pump money into the economy by buying properties. Kirk Sanford chairs this privately held investment fund that specifically looks to acquire distressed properties and other assets.
This new tax law extends the credit for first-time homebuyers which is worth up to $8000. Even existing homeowners can cash in on this legislation. A new credit of up to $6500 is available to existing homeowners who qualify. This is for those who either buy a new primary residence or have one built by April 20, 2010. They have to already have their existing property for five consecutive years of the last eight years.