Real Estate Blog

January 13th, 2010 5:24 PM

Here are a few points of interest regarding the
NEW Homebuyer's Tax Credit for First Time Home Buyers
(As always, please consult your tax advisor)

  • For property purchased between Nov 7th 2009 - April 30th 2010
  • COE must be by June 30th 2010
  • Must be primary residence
  • Must not have owned a home in the last 3 years
  • Credit + 10% of purchase price or $8000, whichever is less
  • Must NOT sell property within the 1st 3 years after purchase or you will need to repay credit.
  • Can clain on 2009 taxes even if purchase closes in 2010

For an FAQ on the Homebuyer's Tax Credit, click here.

For a comparison of the old version of this credit and the new version and information on the tax credit as it applies to current homeowners who want to buy a new primary residence, click here.

There are lots of buyers flooding the market to take advantage of these tax credits. Maybe it's the right time for you to RIGHT SIZE - move to a larger home, move to a smaller home. If so or you just want to talk about your options, give me a call - 707 815-0569.

My Best-

Marcia

 

Posted by Marcia Hadeler on January 13th, 2010 5:24 PMPost a Comment (0)
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