UPDATED: The bill must still be voted upon by the full Senate, be reconciled with the House and be signed by the President. More details here.
NAR’s lobbying efforts succeed yet again. Today US Senators passed a measure extending the first time homebuyer’s tax credit. Additionally, a reduced credit of $6500 is available to move-up buyers who have lived in their current homes for five years or more. The credit applies to those who sign sales agreements by April 30, 2010.