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The "NEW" First-time Home Buyer's Tax Credit; Up to $8000 with no payback?

By
Real Estate Agent with CORNERSTONE GROUP REALTORS 65056

Well there are so many articles posted on line right now regarding the newest tax credit provided by the latest stimulus package.  I have read several articles that seem to only be speculating on what is coming, but not giving specific details. I does look like the amount is being bumped to $8000 and that it will likely be a credit that will not require payback.  I have also read that if you purchase prior to the April 15th tax filing date, you can take the credit against your 2008 tax liability.  I don't know that the details are there yet, but as soon as I have more information I will get it out. 

Here are local area statistics:

 

LISTINGS Residential (Single Family & Condo)
February 2 - 8, 2009 448
Last Year  639

 

SOLDS

 
January 25 - 31, 2009 83
Last Year  210

 

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