Pierce County First Time Home Buyers eligible for $7,500.00 Tax Credit!

 DID YOU KNOW?

•·      Interest rates are near all time lows?

•·      Housing inventory is up?

•·      Prices are down?

•·      Zero and low down payment options are still available?

•·      The Federal Government will give you a $7,500. tax credit?

Who qualifies?

•·      You'll need to be a first time home buyer or not have had an interest in real property over the past 3 years.

•·      Purchase your new home before July 1^st 2009.

•·      Earn less than $150,000.00 per year for a couple filing jointly or less than $75,000.00 for a single buyer.

•·      The credit is 10% of the purchase price of your home, up to a maximum of $7,500.00.

A complete list of eligibility requirements can be found here.

What's the catch?

•·      The tax credit is delivered to you in the form of an interest free loan which must be repaid over a 15 year period.

•·      Payments are 1/15^th of the credit and are paid yearly starting the second year after the credit is issued. 

Read here or consult your tax advisor for additional restrictions.

This new program opens up a new market that many first time buyers normally don't have access to.

Bank Owned, Foreclosure, and Pre Foreclosure properties. 

While these types of properties are often available at a nice discount, most often they need some work.  Many first time buyers are a bit short on cash after purchasing their new home and lack the funds to make major improvements needed.

 The First Time Home Buyer Tax Credit may solve these issues for you.  We've seen a big spike in first time home buyer activity in the bank owned market lately.  The promise of the first time buyer tax credit has many buyers out looking at bank owned and pre foreclosure homes with more confidence than ever.  They are picking up very nice deals.

 •·      What will you do with $7,500.00?

•·      Will you upgrade the carpet and appliances in your new home?

•·      Replace those old windows?

•·      Landscape the yard?

•·      Remodel?

•·      Save it as a reserve?

Interested in becoming a first time home buyer?  Contact us today at 253-820-2745 to learn more about this program and how we can help you take advantage of the record number of foreclosures currently available in Pierce County.  Visit our Pierce County Real Estate website to view all homes listed by any broker including bank owned and pre foreclosure homes.