September 14th, 2009 Categories: Austin Real Estate News
The Tax Credit window is closing fast!
Homebuyers need to close on the property by December 1st 2009. Here are some more facts about this First Time Homebuyers Tax Credit…
The tax credit is for first-time home buyers only. For the tax credit program, the IRS defines a first-time home buyer as someone who has not owned a principal residence during the three-year period prior to the purchase.
The tax credit does not have to be repaid.
The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009.
Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.
For the full scoop on the tax credit check this out: http://www.federalhousingtaxcredit.com/2009/home.html
With great interest rates, a strong buyers market, and this amazing tax credit there has never been a better time to buy!!!
This blog was brought to you by Jeremy K. Frost ~ REALTOR
Please contact us for all your real estate needs Jeremy@FrostFinds or 512-636-2746
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