Special offer

Path to the $8000 Credit...Best to Get Going!

By
Real Estate Agent with Jayne Realty, LLC

 

 

Path to the $8000 Federal Tax Credit:

10% of Sales Price of Your Primary Residence Up to $8000! (10% of Home Sold for $80,000 or Greater)

              

 

 

 

 

Buyer Qualification

 

 

 

Single Filer:$75,000

Joint Filers: $150,000

 

Reduced Credit for

Single Filer: up to $95,000

Joint Filers: up to $170,000

 

Must be  Primary

Residence

Not owned a Primary

Residence in the Past

3 Years

 

Consult Tax Accountant

Seller Qualification

 

Seller not a Blood

Relative

 

 

Step Relative does

Qualify

 

Consult a Tax

Accountant

Property Qualification

 

Type of Residence:

-Detached Home or

-Attached Home or

-Condo or Co-Op

Located in United States

 

 

 

Purchase between

1-1-09 and 11-30-09

 

Occupy/Occupancy

Permit by 12-1-09

(Moved In)

 

 

Not a Second or

Vacation Home

 

Can not sell for 3 years without some Penalty.

 

Consult a Tax Accountant

Apply for Refund

IRS Form 5405

 

Claim Credit with an Amended Tax Return

Claim Credit in 2010

Consult a Tax Accountant

 

 

Why Buy Now? Appears we are the point where Interest Rates, Home Prices, and Supply = Greater Affordability

  

At this writing the Fixed Interest Rate is 5.12% for Conventional loans and 5.24% for FHA loans.

  

Average Fixed Interest Rate over the last 30 years is 8.75%

  

Home Prices are approaching 2005 or 2004 prices depending on the SW Washington or Portland, OR location. Plus Inventory is beginning to decline when 2009 months of inventory is compared to 2008 months of inventory.

To get more home buying information plan on attending the Home Buyer Seminar sponsored by the WSHFC on 8/18/09 and 8/19/09 from 6 PM to 8:30 PM. Call 360-608-8541 for details.

  

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