Facts about the First-Time Homebuyer's Tax Credit Program!

There is much talk and even more questions about the first time homebuyers tax credit program. As part of the stimulus plan, Congress passed legislation earlier this year to grant tax credits up to $8000 to first-time homebuyers:

• 10% tax credit on the purchase price of a home not to exceed $8000.
• For example, a homebuyer who purchased a home for $69,000 will receive a $6,900 refund, a buyer who purchased a home for $100,000 will receive a $8,000 refund.
• Any type of home will qualify, i.e. single family, condos, townhomes, as long as they are being used as a primary residence.
• The home has to be purchased and ownership has to be transferred by December 1, 2009!
• To qualify as "first-time homebuyer" the buyer or his/her spouse may not have owned a home during the three years prior to purchasing.
• There are income limits: $75,000 annual income for single buyers, $150,000 annual income for married buyers.
• There are discussions about extending the program and also allowing the tax credit to be used as a downpayment. Please call me if you would like to know more.

Here is the best part: The tax credit does NOT have to be repaid!

What are you waiting for? Call me for more information!

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If you are thinking about buying a home or land for personal or investment use, or you are thinking about selling in Hernando County, Florida, including the communities and neighborhoods of Hernando Beach, Weeki Wachee, Pine Island, Brooksville and Spring Hill, Glen Lakes, Timber Pines, Silverthorn, Seven Hills, Sterling Hill, Pristine Place, and Southern Hills Plantation and you want to work with a local area Realtor who knows these neighborhoods please contact me.

Let me help you find your place in the Sun!