About Land O Lakes' Bell Lake Vista

President Obama signs into law -- Current homeowner tax credit:

An existing homeowner who purchases a home may now claim a tax credit of up to $6,500. To qualify, that owner must have owned and used the same residence as a principal residence for any consecutive five-year period in the previous eight years.

· This new tax credit is effective immediately. Eligible homebuyers do not have to wait until Dec. 1 to close in order to qualify.

· Personal income limits, maximum home value, and contract/closing deadlines are the same as those for first-time homebuyers - Here is what is what is in place for First time home buyers :income limits rise to $125,000 for singles and $225,000 for married couples; up from limits effective through Nov. 30 of $75,000 for singles and $150,000 for married couples. The tax credit phases out incrementally at each $20,000 increase in income. Effective immediately: The maximum home value purchased cannot exceed $800,000. Prior to the law being signed, first-time homebuyers had no limitation on a home's cost.

Long-time Florida homeowners who enjoy discounted property taxes resulting from the state's Save Our Homes amendment qualify for property tax portability.

Considering a move up? Call me about current real estate for sale in your favorite neighborhoods.

Warmly,

Stephanie LeFew

Tampa Home Buy Realty

www.TampaHomeBuy.com

813-623-3332 cell / 813-991-1355 office

stephanie@tampahomebuy.com

Buyer Incentives Available! My Services are FREE to Buyers