You may qualify for up to a $8,000 Federal Tax Credit under the American Recovery and Reinvestment Act signed into law on 2/17/09. You must not have had ownership in a home for the past three years, close on your new home by December 1, 2009 and keep the home as your principle residence for three years.
- The amount of credit is 10% of the cost of the home up to $8,000
- Full credit for individuals with adjusted gross incomes of $75,000 with phase outs above those caps ($150,000 jointly)
- Any single family residence including condos, co-ops or townhomes being used as a principle residence
- Reduces or eliminates income tax liability for 2009 with any or all unused amount refunded to the purchaser
- Purchaser and purchaser's spouse may not have owned a principle residence over the past three years
- Credit allowed if home is financed with State or local bond funding
- Retroactive from January 1, 2009 to December 1, 2009
SELLERS
Are you considering selling your house in the coming months? Ask me about my three-steps to a top-selling price:
1. Monitor the market with "My Property Finder"
2. Obtain a current market value assement.
3. Get my tips for dressing your home for maximum selling price.
BUYERS
View ALL the property listings for sale in your market though "My Property Finder". You will also have access to the advanced research tools available.
Note: The MLS Requires registration to see all listings. |
Office 708-418-4444
