Quiz: 2009 FIRST-TIME HOME BUYER TAX CREDIT
QUESTION: What types of homes do not qualify for the tax credit?
•a. Mobile Homes?
•b. Townhouses?
•c. Houseboats?
•d. They all qualify?
ANSWER: d. they all qualify!
"Basically any home that is used as a principal residence qualifies for the tax credit, including single-family houses, mobile homes, townhouses, condos, manufactured homes and even houseboats. Generally, you must spend 50 percent or more of your time in the home for it to be considered a principal residence."
From time to time, I like to take the Quizzes in the REALTOR® Online Magazine. You don't have to be a REALTOR ® to take the quizzes, or read the articles. There is a lot of good information there for consumers, real estate agents and brokers, alike. Take the rest of the Quiz, and find out if you have all of the facts about the First-Time Home Buyer Tax Credit.
It's always a good idea to consult with your accountant or tax consultant prior to making any investment.
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Mary Douglas, your Mountain Broker-Associate and REALTOR®
United Country Ponderosa Realty, Red Feather Lakes, CO
www.redfeatherlakes.com ---800-531-2195
"A Day in the Mountains will always soothe your city soul"
The information contained in Mary's blog is deemed reliable but is not guaranteed, and the opinions and views expressed in these articles are solely those of the author.
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