How Tri Cities WA Homebuyers Can Access The $8000 Tax Credit Quickly

With the onset of spring the Tri Cities WA real estate market has begun to see signs of heating up. But for those still on the sidelines, I thought it would be important to see just what the new $8000 First-time home buyer tax credit can do.

Many people have asked emailed me at the Tri City Home Team or called and asked about the program. Quite a few wanted to know how they could use it for a down payment. Well, the answer is, you can't. BUT, I do have a slick way of accessing the credit after you've purchased your home- and I mean getting your hands on it within an estimated 10-12 weeks after you've closed on your new Tri City home.

By now, most of us have filed our 2008 tax returns and, for many of us, have written a check to the man in the red,white and blue top hat. So here's a strategy for getting the credit BEFORE next year.

The 1st thing to do is to call us here at the Tri City Home Team and let's work together to find you a new home you'll want to purchase. Right now is a great time to get an FHA loan for your new home, and they only require a 3% down payment! If you are looking at a purchase price of $200,000 you'll only need $6000 for your down payment. And many, many of the Tri City homes being purchased are negotiating to have the seller's cover all, or most, of your closing costs.

The 2nd step is to go through the purchase steps and close on your new home!

Now--- You go to your tax-preparer with your HUD-1 Settlement Statement and have them file an AMENDED 2008 tax return, claiming your First-time Home Buyer Tax Credit, and 10-12 weeks later receive from the man in the top hat a refund check for your tax credit amount! Then send me a box of Campfire Girls Thin Mints as a thank you! Take that money and go put it into a safe and secure investment account- do not go buy jet ski's, do not pass GO, etc.

And welcome to homeownership and all the pride of ownership and tax benefits that comes with it.

Below is a matrix of the program, and to see a video explaining it, please go HERE to the Tri City Home Team page regarding the program. After that, please visit the front page and try our interactive, map-based Tri City homes search engine- you'll find it a better way to look for your new home!