Buy now with your $8,000 tax credit

By
Real Estate Agent with RE/MAX Shoreline New Hampshire & Maine

Lots of potential homebuyers are currently eligible for an $8,000 tax credit if they buy a new or resale home before December 1st of 2009.

So why the big deal over a credit; we've always had tax deductions haven't we?

Yes but there is a major difference between a credit and a deduction.

A tax deduction reduces your amount of income subject to tax based on the tax bracket you're in.

A tax credit is a dollar for dollar reduction in your tax liability.

what's the difference between a tax deduction and a tax credit

In Tennessee now the Tennessee Housing Development Authority (THDA) has a program in place where a homebuyer can borrow up to 3 1/2% of the purchase price of a home and repay it at 0% from the anticipated tax credit refund.

So if you've been sitting on the fence waiting for the right time to buy; it's here. Conditions for buyers are better than I've seen them in my 30+ years of practicing real estate.

  • $8,000 Tax Credit for a huge number of potential buyers
  • A tremendous selection of homes in all price ranges.
  • Values are now above prices in some homes because of the huge supply of homes for sale.
  • Mortgage interest and your property taxes are deductible from your federal income taxes.
  • Interest rates are at the lowest point in over 50 years.
  • No capital gains taxes on the first $500,000 of PROFIT when you sell your primary residence

Give me a call at (865) 693-3232 or email today and let's see if you qualify for that $8,000 tax credit; Most of my buyers this year have qualified and some have already filed amended tax returns and collected thousands of free dollars from the government. You can too.

www.KnoxvilleHomeCenter.com

Posted by

Jim Lee , REALTOR®, Certified Residential Specialist (CRS)

http://JimLee.com  RE/MAX Shoreline

100 Market St., Suite #200, , Portsmouth, NH 03801 Phone: (603) 431-1111 x3801

Visit New Hampshire Maine Real Estate.com to search homes, get Seacoast area information, and find out how great living on the New Hampshire and southern Maine Seacoast really is.

 

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Re-Blogged 1 time:

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Rainmaker
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Larry Brewer - Benchmark Realty llc
Benchmark Realty LLc - Nashville, TN

Jim - I liked this so much that I reblogged it. I hope you don't mind. Great job.

May 28, 2009 02:18 AM #1
Rainmaker
599,889
Jim Lee
RE/MAX Shoreline - Portsmouth, NH
Portsmouth NH Realtor, Portsmouth, NH

I'm honored Larry; thank you.

Hopefully buyers will read stuff like this and take advantage.

May 28, 2009 02:56 AM #2
Rainmaker
19,600
Nicholas Bush
Keller Williams Realty - Knoxville, TN

Jim - As a brand new Agent I have a question, where do you get this kind of information.  I am about as green as it gets to real estate as I have ZERO experience and really no one to lean on at this point.  I have lots of time right now to research, I just don't know where to start.  Thanks

May 29, 2009 07:50 PM #3
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Rainmaker
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Jim Lee

Portsmouth NH Realtor, Portsmouth, NH
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