Thanks Penny for sharing this valuable homebuyer information. 

Via Stanton Homes - Penny Hull Raleigh NC Custom Home Builders (Stanton Homes - Triangle NC New Homes):

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Home Buyer Tax Credits - Differences Between Programs

Explaining the 2008 Program Versus 2009 Program - How Do They Work?

Home Buyer Tax Credit - How Does it Work 2008 2009Walter Updegrave, Senior Publisher of Money Magazine, has written an excellent explanation and comparison of the two very different tax credits for first time homebuyers.

Did you buy a home between April 8, 2008 and December 31, 2008?  Walter explains how the 2008 homebuyer tax credit works, and what the difference is between buyers who purchased last year, and those who plan to buy a new home this year.

Bought a home after January 1st, 2009?  Walter talks about how you can use the Home Buyer Tax Credit on your 2008 returns - and possibly get a huge return this year instead of next year!  But be aware - this program has an unexpected expiration date.   

Read the full story here.

And remember - there is a loophole on the new tax credit.  Homebuyers will qualify for the $8,000 credit if they haven't owned a home for the past three years.

Julie E. Chapman, REALTOR®, Broker
Chapman Realty
Brunswick, Georgia 31520
912-280-0088 Office
912-270-6767 Cell
Web: http://www.juliechapman.com
eMail: chapmanrealty@yahoo.com

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All photos and written content were produced by Julie Chapman Copyright 2009 - All Rights Reserved. This content may not be reproduced or reprinted, except for Active Rain Re-blogging, without express written permission of Julie Chapman, REALTOR®, Chapman Realty, Brunswick Georgia.

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2 Comments on Top Money Magazine Guru Explains the 2008-2009 Homebuyer Tax Credits (Better Than I Can)

MAR
11
108,624 Points 11 Featured Posts

Many folks over look the three year loophole and think the credit is for Very first time home buyers.
6:57pm • #1
368,556 Points 7 Featured Posts Localism Sponsor Outside Blog Hit Router

Cameron,

We have a buyer that has a sale scheduled to be 3 years after the date of the sale of their last home.....
9:49pm • #2

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Coastal Georgia Living by Julie Chapman Real Estate Brunswick GA 912-270-6767

Brunswick, GA

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Julie Chapman Realty Homes Brunswick Georgia

Address: 123 Benedict Road, Brunswick, GA , 31520

Office Phone: (912) 280-0088

Cell Phone: (912) 270-6767

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Chapman Realty is a full service real estate firm located in Brunswick and the Golden Isles of Georgia (Glynn County). Glynn County has a very diverse economy made up of tourism, a growing port facility, a Federal Law Enforcement Training Center, College of Coastal Georgia, industrial plants and a healthy mix of retirees. The area enjoys a mild sub-tropical climate. The average temperature is 68.4 degrees and average rainfall of 54.7 inches per year. Glynn County offers over 14 miles of beaches and 225 holes of golf, boating and historical sites.


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