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Friday, January 29, 2010

Home Buyer Tax Credit

This is a Sponsored Post written by me on behalf of Coldwell Banker. All opinions are 100% mine.

Did you buy a new home last year or are you looking for a new home right now and think you have missed out on the first-time home buyers credit? Well you are in luck you have not missed out on anything. Our fine president has extended the date to April 3,2010 with closings no later then June 30,2010.

If you haven't even heard about this credit here is what it is all about.

* For first-time home buyers, or those who have not owned in the last three years, can receive up to an $8,000 tax credit.

* Homeowners who have lived in a current home consecutively for 5 of the past 8 years can receive up to a $6,500 tax credit when purchasing a home.

* There may be no future extensions, so all qualified home buyers are urged to act and have a written, binding contract by April 30, 2010 (close by June 30, 2010.)

* Income limits are now $125,000 for singles, $225,000 for married couples with a $20,000 phase-out of the credit for both.

* The first-time tax credit was working, but what housing and our national economy needed was incentive for the move-up buyer. According to The 2009 National Association of Realtors® Profile of Home Buyers and Sellers, the number of first-time home buyers rose to 47 percent of all home sales from 41 percent of transactions in last year!s study, and was the highest on record dating back to 1981. The previous high was 44 percent in 1991.

This is a wonderful incentive to purchase a home. Don't miss out on the 2010 Homebuyer Tax Credits
if you are thinking about buying a home for the first time or if you have sold your home and purchasing a new one. Check with a Coldwell Banker Real Estate professional to help you find the right home for you and your family.

Visit my sponsor: 2010 Homebuyer Tax Credits

1 comment:

Michelle said...

I was just reading about this credit. What a great motivator to buy a home. I would of love to have gotten this credit when we purchased out home.