Final Countdown: Home Buyer Tax Credit

By
Real Estate Agent with Windermere San Juan Island

The federal Home Buyer Tax Credit ends in less then 1 week!  If you haven't acted on this great opportunity then you have a little time left!

As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed legislation that grants a tax credit of up to $8,000 to first-time home buyers and $6,500 for existing homeowners who have lived in their home consecutively for 5 of the previous 8 years.

To take advantage of the program home buyers must sign a purchase agreement by April 30, 2010, and close by July 1, 2010.  To qualify as a "first-time home buyer" the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.  Existing homeowners qualify if they have lived in their home consecutively for 5 of the previous 8 years.

For more information visit http://wahomeowners.com/home-buyer-tax-credit.html or contact Sybil Mager, Island Group Sotheby's International Realty at 360-378-2151 or sybil@sybilmager.com.

 

Comments (1)

Beth Ruggeri
Watson Realty - Saint Augustine, FL

We thought it would be much busier this last week. Where are the buyers?

Apr 23, 2010 03:24 AM