by FeFeRowe
3. February 2010 07:52
According to NAR (National Association of REALTORS ®) home sales are up this month compared to this time last year! To me it is very refreshing to an increase, not only through my own day to day business, but it’s great to be able to report this info to the public. I believe a lot of the increase is not only because the market is slowly rising again, but also due to the inching deadline for the Home Buyer Tax Credit. The homebuyer tax credit is basically money that the government is giving to you when you purchase a home. Some of the qualifications are below:
First time Home Buyer-
Income of $125,000 or less per year for a single buyer.
Credit is for 10% of the purchase price up to $8,000.00 dollars.
Already own a home? You can also get a tax credit as long as you have owned your home for 5 of the last 8 years as an owner occupant.
NO need to purchase a more expensive home, however you may purchase a home up to $800,000.00.
Home buyer tax credit is 10% up to $6,500.00
(other qualifying factors apply)
There are 85 days left to take advantage of the Home Buyer Tax Credit. All offers to purchase must be made and in contract by April 30, 2010. So, if you are in the market to purchase a home, I encourage you to look now. The time to buy is NOW, also protect yourself and use a licensed REALTOR.
