Real Estate News
Hurry up and Take Advantage of Those First Time Homebuyers Tax Credits Before they are GONE!
February 12, 2010 by Melodye · 2 Comments
To summarize here is the most recent Homebuyer Tax Credit Offering Approved by Congress:
- First time buyers can receive up to $8,000 (up to $4,000 married filing separate)
- Eligibility – You may not have had an interest in a principal residence for 3 years prior to your purchase
- If you currently own a home and are buying up you can be eligible for up to $6,500 (up to $3,250 married filing separate)
- Current Homeowner Definition for Eligibility – Must have used the home sold or being sold as a principal residence consecutively for 5 of the previous 8 years
- The termination of credit will expire on purchases made after April 30, 2010, you will have until July 1, 2010 to close on the property so long as the written binding contract to purchase is in effect by April 30, 2010
- Income guidelines are <$125,000 for a single individual and <$225,000 for married couples
- Last but not least, the purchaser must attach documentation of the purchase to their tax return.
Tips for Selling Your Home.
We don’t see the actual article!
Hi Melodye…
We just mentioned Greenwich the other day. Thnaks for foorwarding us the Greenwich condo listing. We would have called to see it, but we haven’t even done anything about our house as yet. How are sales of existing homes going?
Juanita Hamilton
Hi Juanita, I hope you didn’t post this question too long ago, I actually just saw it now, I apologize. I just went to the site and was able to access the article without a problem, perhaps it was the time of day you were trying to access it. Hope you are well, the Greenwich market is actually up 230% ytd this year vs. last year, great news! Take care and let me know if you have any questions at all.