Special offer

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

By
Real Estate Agent with Kee Realty

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?First time buyer tax 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/

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Mike Mitchell - Realtor

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 Mike Mitchell -REALTOR®                                                               
 Real Living Kee Realty 

 

Call / Text: (586) 291-2652

 

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 Mike Mitchell - Real Living Kee Realty     

                

Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

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

Feb 19, 2009 08:46 AM
Pat Champion
John Roberts Realty - Eustis, FL
Call the "CHAMPION" for all your real estate needs

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.

Feb 19, 2009 09:07 AM
Mike Mitchell
Kee Realty - Saint Clair Shores, MI
REALTOR (R)

Thanks for stopping by Cindy!

Feb 19, 2009 09:16 AM
Mike Mitchell
Kee Realty - Saint Clair Shores, MI
REALTOR (R)

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 19, 2009 09:20 AM
Kris Wales
Keller Williams Realty - Lakeside Market Center - Macomb, MI
Real Estate Blog & Homes for Sale search site, Macomb County MI

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.

Feb 19, 2009 11:46 PM
Mike Mitchell
Kee Realty - Saint Clair Shores, MI
REALTOR (R)

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 19, 2009 11:53 PM
Jason Rose
123 ConEd LLC -- Michigan real estate continuing education - Farmington Hills, MI
www.123ConEd.com

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 21, 2009 05:54 AM
Mike Mitchell
Kee Realty - Saint Clair Shores, MI
REALTOR (R)

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

Feb 23, 2009 02:59 AM
Sandy Shores FL Realtor®, Melbourne Real Estate
M & M Realty of Brevard Inc. - Melbourne, FL
Brevard County Real Estate, Florida's Space Coast

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

Feb 25, 2009 12:49 AM
Mike Mitchell
Kee Realty - Saint Clair Shores, MI
REALTOR (R)

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

Feb 26, 2009 12:03 AM
Ellie McIntire
Ellicott City Clarksville Howard County Maryland Real Estate - Ellicott City, MD
Luxury service in Central Maryland

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

Mar 07, 2009 05:08 AM
Robert L. Brown
www.mrbrownsellsgr.com - Grand Rapids, MI
Grand Rapids Real Estate Bellabay Realty, West Mic

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

Oct 21, 2009 01:33 PM