The question when is the right time to buy and sell. The answer depends on each person's circumstances. Today with the tax incentives and low interest rates is a good time to buy and get a $8,000 tax credit for a first time home buyer.
Homebuyer Tax Credit Extended & Expanded to April 30, 2010*
The time to get started on your mortgage is NOW. The Homebuyer Tax Credit is bigger and better than ever. Here are the highlights:
• MOVE‐UP BUYERS are now eligible as long as they have been in their current home for 5 of the past 8 years. Their credit will be $6,500.
• The tax credit remains $8,000 for FIRST TIME home buyers.
• INCOME LIMITS HAVE INCREASED nearly $55,000to $125,000 for above the level in existing law single return, $225,000 joint return for first‐time and move‐up buyers.
• COST OF HOME may not exceed $800,000.
• This new Credit expires April 30, 2010. However, if a binding sales contract is signed by that date, A HOME PURCHASE COMPLETED BY JUNE 30, 2010 will qualify.
• Home buyers DO NOT HAVE TO REPAY the credit, provided the home remains the principal residence for 36 months after the purchase date.
Contact me for market updates, mortgage information, and take advantage of the governmental tax incentives while investing in your dream home.
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