Hi Everyone,
Just a quick blog to remind you all that if you want to take advantage of the First Time Home Buyers Tax Credit, you had better hurry!!
You have to find a home, negotiate the deal, get the financing and inspections done and have the closing by the end of November. That's just a little over 4 months to get in on this great deal. A typical real estate transaction takes at least 45 days -- probably more. The federal government is offering you a tax credit of 10% of the sales price of your new home up to $8,000. And, you don't have to pay this credit back - ever. Last year's credit has to be repaid.
Do you qualify? Yes, if you haven't owned a home in the past three years you are considered a first time home buyer and if your yearly income qualifies (single not over $75,000, married not over $150,000.
These tax credits can be received by filing an amended return on your 2008 personal income taxes or waiting and applying them to your 2009 tax return.
Spend at least $80,000 on a home and you get FREE $8,000!!!! This is not rocket science. Don't miss out!! Call me or email me today to get a list of homes in the Michigan Downriver Area. janmurphy1@yahoo.com