This is a great article explaining the $8,000 Tax Credit for First Time Home Buyers and wanted to share.
Via Debe Maxwell, Realtor® Let's Talk CHARLOTTE! (Helen Adams Realty):
Questions Answered About the $8,000. Homebuyer Tax Credit
Rob Dietz, Ph.D. discusses the $8,000 first-time home buyer tax credit in this video interview provided by the National Association of Home Builders.
What does the $8,000 tax credit mean for you?
- Buy a home and you may qualify for the $8,000 tax credit on your 2009 taxes
- Even if you don't owe $8,000 in taxes, you may receive a refund check for the difference
- You or your spouse can't have previously owned a home in the last 3 years
- You cannot make more than $75,000 adjusted gross income, or if married, $150,000 adjusted gross income
- The home that you purchase has to be your primary residence
- If you sell the property within 3 years, you will have to repay the money back to the government. If not, the money is yours to keep with no strings attached.
- Consult your tax advisor for more details.
- Consult your local expert Realtor® when you're ready to start shopping for that new home!
If your looking for a home in the St Joseph Mo area, you can visit my
St Joseph REAL ESTATE website at www.donareynolds.com
