There is one less incentive for prospective homebuyers to tap into. Monday brought the expiration of the $1,800 Georgia Homebuyer Tax Credit.
The incentive was passed by Georgia lawmakers earlier this year. It allowed state taxpayers to claim the credit for any home bought between June 1st and November 30th. The $1,800 amount is spread-out over three years.
But La Trenda Tyler-Jones with the Columbus Board of Realtors says their group expects a recent uptick in home sales to continue:
"I don’t think Georgia’s state-level credit expiring is going to have that great an impact because the federal government has stepped-up and added more to their package".
U.S. Congress recently approved an extension and expansion of the federal homebuyer credit. It had allowed for first-time buyers to get an $8,000 credit. Now, repeat buyers can take a $6,500 incentive.