Posts Tagged ‘Tax Credit’

h1

Extend the TAX CREDIT – it’s a good thing.

April 7, 2010

The end is near for the tax credit available to buyers of homes. You must be under contract by April 30th.

The homebuyer’s tax credit has been one of the best things for real estate in a long time! This credit has stimulated home sales and encouraged buyers to PURCHASE REAL ESTATE.  I sincerely hope the federal government considers and extension of this tax credit that has helped our economic recovery. We still have a long way to go.

For more information on the tax credit please go to:

http://www.realtor.org/home_buyers_and_sellers/2009_first_time_home_buyer_tax_credit

Advertisements
h1

TAX CREDIT DEADLINE – Know the facts

February 24, 2010

KNOW THE FACTS!

To qualify for the first-time home buyer tax credit and repeat buyer credit you must have a WRITTEN AND EXECUTED CONTRACT by April 30th with the closing scheduled by July 1st. That means that short sales and foreclosed homes WILL NOT WORK – you are running out of time.

The maximum allowable credit for first-time homebuyers is $8,000 with repeat buyers getting $6,500.

The property must be your PRIMARY RESIDENCE, in other words…you main home.

Your income can not exceed $125,000 for individuals or $225,000 for joint filers. Those with higher income do NOT qualify.

Call me for more details but whatever you do, don’t wait – I’m not sure if Congress will extend this tax credit again.