HURRY! THE FEDERAL HOME BUYER TAX CREDIT EXPIRES IN 4 WEEKS!
The Tax Credit - which was EXTENDED and an EXPANDED To Include Existing Homeowners - Ends April 30th!
A GREAT move-up market recently got better! Besides the enticing Federal Tax Credit for First-Time Home Buyers, now those who currently own a home will qualify too!
The new bill calls for an incentive for existing homeowners who have owned their current residences at least five years, making them eligible for tax credits of up to $6,500 when they purchase a new home. First-time homebuyers - or anyone who hasn't owned a home in the last three years - will still get up to $8,000. To qualify, buyers in both groups have to sign a purchase agreement by April 30, 2010, and close by June 30th.
The credit is available for the purchase of principal homes costing $800,000 or less. Vacation homes are ineligible. The credit would be phased out for individuals with annual incomes above $125,000/year and for joint filers with incomes above $225,000/year.
The credit will be extended an additional year, until June 30, 2011, for members of the military serving outside the United States for at least 90 days.
The key to returning stability to the economy lies within the housing market, and this is a meaningful credit that will create a strong foundation for future growth and make a measurable difference in our economy.
If you are a home buyer who weathered these past difficult years, your time is now!
Elaine Mallon is a Broker Associate (DRE #01325954) with Coldwell Banker, a Certified Negotiator, Certified Palos Verdes Peninsula Area Specialist, Certified Relocation Specialist and Award-Winning Public Relations & Marketing Veteran. Additionally, she performs as a Dual Agent to both the Manhattan Beach and Palos Verdes/South Bay branch offices, serving clients from the finest South Bay beach cities to the scenic San Pedro Peninsula.
For superior service with all your HOME BUYING & SELLING NEEDS, please contact Elaine directly at 310.544.8453 or on the web at www.CaliforniaMoves.com/Elaine.Mallon. She is eager to help you!