Real Estate Blog - Macomb County First Time Home Buyer $8,000 Tax Credit

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Macomb County First Time Home Buyer $8,000 Tax Credit

This is a terrific opportunity for qualified first time buyers! With low interest rates and a wide selection of homes to look at, many first time buyers will benefit from this in 2009!

Do you qualify to receive this credit?

You must be a first time home buyer. First time buyer defined as not having owned a principal residence in the past 3 years
Home purchased must be used as your principal residence
Home must be purchased between Jan. 1, 2009 & Nov. 30, 2009
Max. income of $75,000 for single person & $150,000 for married couples
Must own home for 3 years after purchasing

What's the difference between last years first time buyers tax credit and this years? The 2009 tax credit has been raised by $500. from $7,500 to $8,000 and most importantly, the 2009 tax credit does not have to be paid back, as long as you own the home for 3 year after purchasing.

For more info read First time buyer tax credit FAQ's

If you'd like to start looking for homesand take advantage of this tax credit and buyers market in Macomb County sign up for a free Listingbook account and search the mls on your own personal website! Absolutely FREE!

For more info on the Macomb County Real Estate market, contact Mike Mitchell,REALTOR ®

Mike Mitchell - REALTOR ®
GMAC The Kee Group
Direct: (586)291-2652

http://www.mmhomesearch.com/

Mike Mitchell - Realtor

Posted by Mike Mitchell - REALTOR® - St. Clair Shores, MI on 02/19/2009 04:37 PM

Comments (12)

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12 Comments on Macomb County First Time Home Buyer $8,000 Tax Credit

FEB

Mike-great minds think alike :-) Terrific post. We all need to be letting our buyers know what is possible with the new credits.

Is the 2009 tax credit for the whole year? If my buyer purchased last year will they still have to repay the credit? Thanks for sharing.

Thanks for stopping by Cindy!

Hi Pat, the new tax credit is for homes purchased between Jan.1, 09 and Nov. 30, 09 only.

Click on the FAQ link for all the details.

Thanks for your question, I just edited post to include the dates.

FEB

I just posted about this myself :-) I really hope it's publicized more this time around and helps future home buyers make the decision to quit renting. This type of tax credit may never come around again for them.

Hi Kris, I'll check your post out too. We need to get the word out to first time buyers, you're right, this tax credit may never come around again.

FEB

Thanks for the great information, Mike. I've completely lost track of everything tax-related with all of the back and forth on the stimulus package. Thanks for providing some clear and useful information.

FEB

Jason - you're very welcome. Thanks for stopping by.

FEB

Hi Mike, Great news for first time homebuyers. I can see many first timers taking the plunge!

FEB

Hi Sandy, thanks for stopping by and commenting! Definitely a great benefit for first time buyers!

MAR

Mike- Great simple way to spell out all the benefits. I hope you get some good activity from this post.

OCT

I hope they extend the credit. Buyers are scrambling for properties and time is running out.

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