Saturday, November 21, 2009
Here are the answers to the questions many people have about the expanded and extended tax credit. Contact Kathy if you would like to take advantage of the time sensitive opportunity.
Thursday, November 12, 2009
Friday, November 6, 2009
The first time homebuyer tax credit has been extended and expanded!! It now includes a $6500 Tax Credit for existing homeowners who purchase another home!! If you are considering moving “up” this is a great opportunity. The demand for entry level homes has increased and there are some good buys out there for the move up buyers. The credit is available for the purchase of principal homes costing $800,000 or less, meaning vacation homes are ineligible. The credit would be phased out for individuals with annual incomes above $125,000 and for joint filers with incomes above $225,000.The credit is equal to 10 percent of the purchase price of a primary residence, up to a maximum of $8,000 for first-time homebuyers and $6,500 for others. Buyers who have owned their current homes at least five years would be eligible, subject to income limits, for tax credits of up to $6,500. First-time homebuyers — or people who haven't owned homes in the previous three years — could get up to $8,000. To qualify, buyers have to sign purchase agreements before May 1 and close before July 1. Contact Kathy if you are interested in taking advantage of this great opportunity!!