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Do your clients understand the Home buyer tax credit? Do YOU?

By Mark Ryan

Real Estate Agent with Mark Ryan Group / Re/Max Victory

August 13, 2008 07:04 PM

I get a lot of questions from clients, friends and just people in general interested in Dayton Ohio Real estate... I am sure you do as well. The question is... do you know how to answer when they ask about the new law... the Housing and economic recover act of 2008? Specifically the First time home buyer tax credit...

dayton ohio real estate

10% of home price up to $7500
Must be a SFR and be used as a principle residence
There are income limits, but they are rather high...
First time home buyers only... or not owned a primary residence in past 3 years.
There is a 6.67% recapture for 15 years after the purchase or at the sale of the home.
Effective on/after April 9th 2008 and ends July 1st 2009

Want to know more about the Home buyer tax credit or how the Housing and economic recovery act impacts your Dayton Ohio real estate or your ability to shop for a Dayton Ohio homes for sale... then check out Dayton Ohio Real Estate, new law update

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LS Rogers Realty

LS Rogers Realty - Richardson, TX

Broken down in layman's terms makes it a lot less confusing. Thanks.

Aug 13, 2008 07:26 PM

Andy Laughlin

ConnectRealty.com - Bellingham, WA

I agree with Trunda's comment, thanks for the info.

Aug 13, 2008 07:39 PM

Ellie McIntire

Ellicott City Clarksville Howard County Maryland Real Estate - Ellicott City, MD

Luxury service in Central Maryland

Good morning- you may want to read this post from Nestor & Katerina Gasset. Why Is The New Housing Bill A Joke and Why Did NAR Lobby For It?

Aug 13, 2008 10:42 PM

Mark Ryan

Mark Ryan Group / Re/Max Victory - Dayton, OH

Broker, CRS, ABR, CDPE

Ellie,

OH I agree the new law is for the most part a load of crap... Just thought everyone really needs to know what it really means for our clients...

Thanks,

Aug 14, 2008 03:06 PM

Richard Stabile

Re/Max Real Estate Limited - Oradell, NJ

Bergen County New Homes Builder Realtor

Trying to undo avalanche with a spoon.

Richard

Aug 14, 2008 04:37 PM

But a least they are using your and my spoon to do it... it's always fun to buy votes???

Aug 15, 2008 05:04 AM

Team Honeycutt

Allen Tate - Concord, NC

Thanks for the info. We have put the information out there for our buyers. Hopefully it will get people off the fence.

Aug 15, 2008 11:38 AM

Frances C. Rokicki

Fran Rokicki Realty, LLC - Bolton, CT

Broker-Mentor,CRS

We have similar products that compete with this program. Wachovia has a good one, though I don't know if there are new changes now. Haven't used it in awhile. Hometown banks offer some good community buyer programs, too.

I love your dogs! I have a black lab, Jack. They are just so good to have in the family:)

It's a Good Life!

Fran

Aug 15, 2008 11:49 AM

Fran,

Thanks, love the dogs...

What are you talking about with wachovia... never heard of anything from a lender anything at all like this?

Thanks!

Aug 15, 2008 01:51 PM

Jim Fischetti

The Fischetti Group/Keller Williams - Wake Forest, NC

Mark,

Great post, simple concise and very worthwhile.

Aug 16, 2008 09:30 AM

Jim,

Thanks for the notice... Always nice to be noticed... We actually talked a year or so ago following a Dennis Walsh class at family reunion. How are things in the new build arena?

Mark

Aug 16, 2008 05:42 PM

Cheryl Powell - The Powell Team

Southern Homes of The Carolinas - The Powell Team - Harrisburg, NC

Concord,Harrisburg & Charlotte NC Area Real Estate

Great information Mark. I haven't heard of this before, but am going to check into it! Thanks for sharing.

Aug 16, 2008 07:09 PM

If you have renters thinking... WOW really have to wonder why they would rent now?

Aug 17, 2008 04:45 PM

Do your clients understand the Home buyer tax credit? Do YOU?

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