Skip to main content

Tax Credit Update



The home buying tax credit has been extended. It has also been updated to include a wider range of home buyers. No longer do you need to be a "first time home buyer" to take advantage of the tax credit program.

The quick version is the "First Time Homebuyer" credit has been extended until April 30, 2010. These home buyers, who have not owned a home in the past three years, must have a signed contract on a home by April 30th, 2010 and settle on the home before July 1, 2010. They may receive up to an $8,000 tax credit.

The real big change is allowing home buyers who have owned a home for 5 consecutive years (out of the last 8 years) to purchase a home and receive up to a $6,500 tax credit. The income limits have also been increased. Our Military also receives some special consideration including a longer buying window and other exceptions.

It's not to late to start your search.

Contact me for more up to date information.

Popular posts from this blog

Housing Shortage or Thought Scarcity?: A Common Sense Proposal

  Photo by  Roberto Nickson  from  Pexels With low inventory, BOTH buyers and renters are having a challenging time getting into a home. A solution, one would think, is creating more available homes. A gut reaction would be to build big developments, with large homes or maybe a condo complex. But what if you could build a home on your current property and rent it out? I see small towns around me push back, and a common reason is "parking" . Meanwhile, a quick drive down their streets will show plenty of parking. And get this, the people that would shop in the now almost empty stores in their town wouldn't need to drive there - they would walk. Another pushback I hear is that a new structure will create too much non-permeable space . It's always an interesting thing to hear from a sector that listens and smiles - but does nothing - when I talk about clean water bills, riparian buffers, and other common sense solutions to a healthy local environment. The more I learn a...
Read more

The Reluctant Real Estate Recruiter: Me?

The phone rings and it is the daughter of a friend. Or maybe an old highschool acquaintance. Neighbor. Past client. They are interested in doing what I do. Full of energy. Almost all of them tell me they watch most of the HGTV house buying/selling/flipping/designing shows. They love looking at houses.  I have to pause and remember what I promised myself a few years ago. When I first got into this business it wasn't long until my old brokerage asked me to mentor new real estate agents. The same demeanor that helps me form successful working relationships with clients today led to a thought that I would be a great ambassador for new Realtors 20+ years ago. Think again. The National Association of Realtors (NAR) announced that in 2023 they lost over 26,000* members. How does that happen? While there are some other factors (ie, selling real estate without being under the NAR umbrella, retirement, etc .. ) a reasonable assumption is an overwhelming majority of Realtors left the business...
Read more

Land, Views, and Garages

In today's hectic world, a number of people are looking for some room to breath and relax. This might mean a house on a couple of acres. It might mean mountain views. It might mean a giant detached garage w/ it's own furnace. Sometimes, with a little luck, you can find all of those things in one location .
Read more