All good things must come to an end and the $8,000 tax credit for Phoenix first time home buyers is no exception. The $8,000 tax credit program expires on November 30, 2009. This means you must CLOSE ESCROW on your new home purchase no later than November 30th, 2009. The $8,000 tax credit does NOT need to be paid back and you do not need to wait until 2010 to claim the credit. One can claim it on their 2008 taxes by filing an amended return after you close on your home. Taxpayers can file Form 5405, First Time Homebuyer Credit, … (0 comments)
000 tax credit: First-Time Homebuyers Infiltrating the Phoenix Foreclosure Market
- 05/28/09 10:31 AM
The foreclosure market in Phoenix has sparked national attention and caused a dramatic increase in home sales. According to an article published by the Arizona Republic, investors trying to reap the benefits of the bargain priced foreclosures jump started the area's housing market in the first part of 2009. In April, investors consisted of approximately 19 percent of the Valley's home sales. Recently, the new front runner's for home purchases belongs to Phoenix first-time homebuyers. Market analysts believe that first-time homebuyers will soon account for half of the area's home purchases. It is said that the federal housing plan's $8,000 tax credit to … (0 comments)
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