To take advantage of a tax credit opportunity, contact your tax professional or the professionals at Coldwell Banker.com. This opportunity is available for any first time homebuyers, so all your readers of dwaynecoots.com really need to hear about this. Who can’t use an $8,000 tax credit?
The tax credit is for those who have not owned a home in the last three years. The federal government is urging all qualified homebuyers to take action and nail down a written, binding contract as there will be no future extensions. The deadline is April 30, 2010. Closing is expected to take place before June 30, 2010.
Approximately 2 million people have taken advantage of the housing stimulus that the tax credit provides in 2009. According to The National Association of Realtors News Release, dated 11/5/09, already added to the general economy resulting from the bill is an estimated $22 billion.
The hope is that this substantial $8,000 tax credit will help stimulate movement in the real estate sector and assist would be home owners into a new home in our current market. There are income limits for this plan. Income limits at this juncture are $125,000 for single persons, $225,000 for married couples this also includes a $20,000 phase out of the credit for both.
Also included in this opportunity are homeowners who have lived in a current home for at least five consecutive years of the last 8 years. These individuals can receive up to a $6,500 tax credit. So contact your tax professional or one of the professionals at Coldwell Banker and take advantage of this once in a lifetime housing stimulus today.