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As Time Runs Out On The Tax Credits....Did You Know?

Real Estate Broker/Owner with KTHOMES, LLC 100002367

Did you know that:

1) You don't have to actually be a first time home buyer to qualify for the tax credit?  Even though you've owned a home in the past 3 yrs., as long as it was not your primary residence, which means you could have it rented out, your still may qualify.

2) If you owned a primary residence outside of the United States in the past 3 yrs., you still may qualify?  Read more........

3)  Members of the military, certain other federal employees, and the intelligence community have an extra year in which to qualify for the First Time Homebuyer or Repeat Homebuyer tax credits.  And the usual payback required if the homebuyer does not stay in their new home as their principle residence for at least 3 yrs. is waived.

4) There are many extenuating circumstances with the Tax Credits, which makes it even more important to check with your Tax Advisor or Attorney.

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Scott Lewis
The Bald Man Group - Post Falls, ID

Did not know the military angle ... does that apply to an active reserve recruiter?

Apr 26, 2010 04:17 PM
Tamra Lee Ulmer
Arizona Resource Realty - Payson, AZ
NRBA ~FORCE~ Over 1000 REO Assets SOLD!

This is a lot of good information about the tax credits! Thank you for sharing : )

Apr 26, 2010 04:17 PM
Margo Currie
Exit 1 Stop Realty - Saint Augustine Beach, FL

Great information. I have a customer right now who thinks he may qualify, but I'm not sure. I advised him to speak with his tax advisor.

Apr 26, 2010 04:23 PM
John Pusa
Glendale, CA

Karen - The First Time Homeowner Tax Credit helped many people to buy or upgrade a home. Great information.


Apr 26, 2010 05:11 PM