First Time Buyer Tax Credit - Not Too Late to Apply to 2008 Taxes!

Real Estate Agent with 8z Real Estate CalBRE# 01830950

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.

Comments (2)

Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection

Jean - Good information for First time Buyers.  I am glad you added that each person should check with their tax advisor since he would be in the best position to offer advice.

Jan 08, 2009 07:01 AM
David Wang
Prudential California Realty - Millbrae, CA
Prudential | 650.504.8190

Jean, taxes seem to be my bane for 2008.  I will tell my clients but I will take the advise and refer them to a tax specialist

Jan 10, 2009 09:35 AM