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$8,000 Tax Credit Extension and Expansion is Approved!
Tax credits are now available
first-time homebuyers and current homeowners!
Facts about the Homebuyers Tax Credit
- Now, qualified first-time homebuyers would receive a tax credit of up to $8,000 if they sign a purchase contract by April 30, 2010, and close by June 30, 2010
- The home purchased must be their primary residence
- Buyer cannot have owned a home during the past three years (so if you did previously own a home, but sold or lost it prior to todays date in 2006, you may qualify)
- Tax credit is up to 10 percent of the home’s value (not to exceed $8,000)
- Annual income caps to qualify for the tax credit will increase ($125,000 for single filers / $225,000 for joint filers)
- Buyers don’t need to repay the tax credit if they occupy the home for three years or more
- Members of the military who are serving overseas on “official extended duty” for a least 90 days during 2009 and the first four months of 2010 have an extra year to take advantage of the credit
- New $6,500 tax credit for current or previous homeowners purchasing a primary residence
- Now, qualified repeat homebuyers would receive a tax credit of up to $6,500 if they sign a purchase contract by April 30, 2010, and close between November 7, 2009, and June 30, 2010
- Eligible homebuyers must have lived in their current home for five consecutive years of the past eight years
- The new home’s cost can be less than that of the current home
- Tax credit is up to 10 percent of the home’s value (not to exceed $6,500). Purchase of homes priced above $800,000 are not eligible for the tax credit
- Annual income caps to qualify for the tax credit will increase ($125,000 for single filers / $225,000 for joint filers)
- Buyers don’t need to repay the tax credit if they occupy the home for three years or more
- Members of the military who are serving overseas on “official extended duty” for a least 90 days during 2009 and the first four months of 2010 have an extra year to take advantage of the credit
*Consult a tax advisor for details about your specific situation.
How I Operate
I believe that Real Estate is about you and that the role of a good Realtor in 2009 is to provide you with all the information you need to make an informed decision about buying or selling Real Estate. Once you have made that decision, my job is to my expertise to help you turn that decision into reality. After all, It's your money, it's your family and it's your life. If you like this approach to doing business, please consider using my services for all your real estate needs. Thanks Don Gallagher
The Best Advertising is a Happy Client!
Don- Saying thank you just doesn't seem good enough. You went out of your way on several occasions to show me houses on short notice, answered my questions immediately or in a timely matter, always reassuring me when I started to panic or forget something you just told me. When I finally found a house you did everything in your power to help me buy it, more than I ever expected and am eternally grateful for. You have helped make my dream of being a home owner come true.
THANK YOU SO MUCH!!!!!!!!
MAY GODS BLESSINGS BE UPON YOU.
Susan Thompson
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