Hard to think of moving, let alone getting of your house with all this snow around. Wow-what a winter! Record snowfall, a lagging economy-why in the world would you even consider buying a home?
Well, you most certainly have heard about the tax breaks set to expire in 2010. If not, here is a terrific link from NAR (National Association of Realtors):
http://www.realtor.org/home_buyers_and_sellers/2009_first_time_home_buyer_tax_credit
Key points:
Which Properties Are Eligible?
The Extended Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops.
How Much Is Available?
The maximum allowable credit for first-time home buyers is $8,000.
The maximum allowable credit for current homeowners is $6,500.
Can a Buyer Still Qualify If He/She Closes After April 30, 2010?
Under the Extended Home Buyer Tax Credit, as long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close.
Oh yeah and if you are buying a home more than 800K, sorry you are out of luck:) Well, you probably have had some luck if you are buying a home valued at 800K or more:)
I specialize in assisting first time home buyers, so if you are looking for someone that will have your interests first without fee or hassle, contact me: DarrylCShawgo@gmail.com. I can get you setup on listings for 2010 right away! Happy House Hunting!
