So "move up buyers" join the party! Not only has the $8,000 First Time Home Buyer Tax
Credit been extended, it now offers $6,500 to "move up buyers" as well. Now the term
"move up" doesn't actually mean one has to buy a more expensive house. In fact, the
$6,500 is available to anyone who has owned and lived in their home for 5 out of the
last 8 years, and the 5 years must be consecutive. For first time home buyers the pressure
to purchase before the November 30th deadline has been removed. Now first time home
buyers have until April 30th to execute a contract on their new home as long as they settle
by July 30th 2010. The income limits have also changed. Now the first time home buyer tax
credit is available to buyers who earn up to $125,000 per year and couples who earn up to
$225,000 If you have any questions just let me know.
WEDO Real Estate and Beyond, LLC - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR
This is a great time for existing home owners to move up or down and still receive $6500. Keep the first house as a rental.
Nov 17, 2009 05:15 AM
BHHS Fox & Roach Realtors - Newtown - Newtown, PA
Newtopias: The Cosack Team
It really is a pretty unbelievable deal if the existing home owner does not need to sell their current home to make the move. With rates incredibly low, prices near the cyclical bottom, and the $6,500 tax credit it would be a great opportunity to become an investor. With how hard it is to save for retirement real estate investing is one of the best bets for the long haul.
Nov 18, 2009 01:04 AM
Rainmaker
202,390
202,390
Dale Cosack
Newtopias: The Cosack Team
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