The name is a little misleading. If you haven’t owned a home in the last three years, you may qualify for a tax credit up to $8000. (10% of the home’s purchase price up to a maximum of $8,000.) It's a temporary credit available on a principal residence purchased on or after January 1, 2009 and before December 1, 2009. Unlike last year's tax credit, this tax credit does not have to be repaid if you don’t sell your home for at least three years. Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full credit.
This is a pretty sweet deal. The tax credit combined with low interest rates and a great supply of available homes, both new and preowned make this the perfect time to buy.
Wednesday, April 8, 2009
Monday, April 6, 2009
Eagle Mountain Foreclosure
There is a foreclosure on the lake! I'm asked about this all the time, but they aren't that common. This one is a doublewide with a dock and a pool, on an acre. List price is $117,900. The lake is down about 5 feet right now. We need some rain! It could be worse, Bridgeport is down about 10 feet.
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