home buyer credit: No More Home Buyer Tax Credits: Is Now A Good Time To Buy? - 05/21/10 01:20 PM
The home buyer tax credits that pumped up existing and new home sales are gone.
To take advantage of either the $8,000 first-time home buyer tax credit or the $6,500 long-term home owner tax credit, you must have signed a valid contract by April 30, 2010. You have until June 30, 2010, to close on the deal.
(The only exceptions are if you are a member of the U.S. armed forces, military intelligence, or foreign service on qualified extended duty or if you or your spouse has been deployed overseas for ninety days or more in 2008 and 2009. If that’s … (4 comments)
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home buyer credit: First Time Home Buyer Tax Credit Not Available If You're a Recent Home Owner - 03/02/10 04:03 PM
When it comes to the IRS and the home buyer tax credit, the rules are rather strict. To qualify for the $8000 first time home buyer tax credit, you must not have owned a home as your residence for the last thirty six months. You can still qualify for the tax credit if you owned other types of real estate, but you can not have owned residential real estate if you used that home as your residence.
And, if you want to qualify for the $6500 home buyer tax credit, you must have owned a home for the last 5 … (3 comments)
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home buyer credit: Do You Qualify For A Home Buyer Tax Credit? HomeBuyerTaxCredit.com Can Help - 01/18/10 01:14 PM
The site does an excellent job of explaining the ins and outs of the tax credit tax law.Every day, someone writes me to ask if they qualify for one of the home buyer tax credits.
I try to answer to as many people as I can, either directly, or through my weekly newspaper column and articles at ThinkGlink.com. But I can't always get to everyone, and there's a new tool out there that might help a lot of people get answers to their questions.
Better Homes and Gardens Real Estate launched a new website last week: HomeBuyerTaxCredit.com.
The website is well-designed. … (0 comments)
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home buyer credit: $15,000 Home Buyer Tax Credit Rejected For Cash For Clunkers Bill - 08/18/09 02:54 PM
It’s Cash for Clunkers - but for home buyers.
That’s how Sen. Johnny Isakson (R-Ga.) described his $15,000 home buyer tax credit proposal.
The proposed legislation would have given a $15,000 tax credit to any home buyer who bought a home, regardless of income. Sen. Isakson’s proposal would have also extended the date of the proposal for a full year from the date of enactment, making home buyers eligible for the tax credit well into 2010.
The proposed $15,000 home buyer tax credit was supported by the National Association of Realtors (NAR), the National Association of Home Builders (NAHB) and … (5 comments)
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home buyer credit: Waiting for a Sign from Congress Before You Buy?: Home Buyers Could Get Tax Credit - 02/08/09 10:52 AM
Summary: If you're a first time home buyer or other home buyer you may be able to take a tax credit of $7,500 to $15,000 on your home purchase, if you live there for at least two years. Congressional leaders believe this tax credit for buying a home will help stimulate home sales and grow jobs. But what about real estate investors, who bought up many homes in the past several years? If the tax credits don't help them, will the country achieve an optimal level of home sales?
I receive hundreds of emails each week -- sometimes hundreds each day … (0 comments)
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