Want 8,000 reasons to buy a home now? If you are a first time home buyer congress has passed a bill the was signed into law by the President, to stimulate home sales and bolster the economy.
The credit is available to first time home buyers who purchase a home after
Jan. 1, 2009 and before Dec 1, 2009, so you better hurry because time is running out. It is important to take a look at what defines a first time home buyer. Congress defines a first time home buyer as anyone that has not owned a personal residence in 3 years prior to their 2009 purchase.
This is not a gimmick and actually gives people an additional $ 8,000.00 towards the purchase a single family residence, townhouse, or condominium. It is a tax credit, not a deduction or deferment and does not have to be paid back. Many individuals have taken advantage of this wonderful program and it's results combined with many other economic factors seems to be working.
According to the Florida Association of Realtors home sales rose for the 3rd straight month in Palm Beach County and the median home price rose 7% from May to June. Those numbers are very impressive and tells me the bottom is here. The market in Lake Worth, Wellington, and surrounding areas has really changed.
It is not uncommon to see multiple offers in these areas and buyers seem to be back in droves. If you have a need or are seriously considering buying, now is the time.
If you would like more information on the tax credit go to www.exitrealtypalmbeach.com and click on the link.
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