Jan
29
The Clock is Ticking for Tax Credit Incentives - Don’t Miss Out!
Posted by Cynthia Williams under For Buyers, For Sellers, For Realty Professionals, General Information
Well, 2010 is off with a bang. Business is booming as potential home buyers scramble to find homes to take advantage of the tax credits offered by the federal government. If you even think you may want to purchase a home this year, now is the time to do so. And if you haven’t heard about the incentatives, let me tell you. If you are a first time home buyer, you will receive a tax credit of $8,000 after the closing of your new home. First time home buyer can also mean that you have not owned a home in the last three (3) years. Also, if you are a move up buyer, you can take advantage of the $6,500 tax credit. WOW, free money from the Feds to purchase a home. This is part of the US stimulus package the government has approved to get the economy moving again and to get the housing market back on track. The first time home buyer credit was available for the most part of 2009, with several new home buyers taking advantage of this program. The only problem I saw as a Realtor is unfortunately a large percentage of first time home buyers don’t have the credit they need to make a new home purchase. So, the federal government added the move up buyer tax credit in hopes of adding more potential home sales. I really wish I was in the market to purchase a new home right now. With this free money, interest rates still being competitively low, and home inventory still plentiful there are a lot of postiive opportunities for you to purchase now and get that low house payment with the ability to buy a larger home. Yes, the market is moving. I am busy as I can be and loving it. Tax credit guildelines are as follows: You have to close or be in a contract by April 30 with a solid closing no later than June 30, 2010. How to you get this free tax credit money? After your closing, take your settlement statement to your tax professional, and they can amend your tax return for 2008 or make it a part of your 2009 tax return. After this has been amended or added, you should receive a check from the government. Now, if you need more information on how this program works, please contact a trusted mortgage professional and ask questions about the guidelines and how to participate in this program. I am excited about this year, and I hope you are too. If I can be of assistance to you, please give me a call or visit my website at www.CynthiaWilliamsHomes.com






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