Many first time home buyers know about the $7500 tax credit/loan that came out as part of the Economic Stimulus Package, and there have been some great articles here on AR that explain this Credit in detail. One of them is:
I thought it might be helpful to add that this credit can STILL be applied toward 2008 taxes if purchased within this year. So, for example, if someone purchases a home on March 31, 2009, they could use this when they file their taxes in April. OR, if they purchase a home before July 1st, when this credit expires, they may want to request an extension for the filing of their 2008 taxes, so that this can be included.
Of course, for specific details, it's always best for each person to speak with their tax advisor or accountant, but this is yet another incentive for first time buyers to buy soon. Interest rates are fantastic and home prices are more affordable than they've been in a long time, especially here in the San Francisco Bay Area. I hope many people will take advantage of the opportunities that are out there right now.
First time buyers - don't miss this chance!
Fellow agents - it might be a good idea to contact all your first time buyer leads and make sure they are informed about this.
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