Obama's Housing Stimulus Plan is a great call to action for the young people of our nation as well as anyone else who is a first time home buyer. First time home buyer in this case is anyone who has not purchased or owned a home in the last 3 years. These buyers will be eligible for a tax credit of 10% of the purchase price up to the maximum of $8000. So, as long as the home purchased is over 80,000. they will be eligible for the full amount.
There are income restrictions, but they are generous and if the property is purchased by a couple, both must meet the first time buyer qualification. At tax time, the $8000 is a credit against taxes owed and if less is owed, then cash rebate will be given.
Buying your first home...I remember the thrill of buying my first home. It was mine! It was an investment in our future! I was grown up! I could decorate to suit our tastes! I had room for a fence for my pets!!! A home for our children to be!! What a thrill.....that is what your first home should mean. Now with the help of our government, first time buyers can take advantage of the largest selection of homes ever on the market in recent years, the lowest prices in quite a few years, and $8000 cash incentive to boot! Everyone should be knocking down doors to participate!
Now, the big question is, will the lenders get on board and make it happen? I am being told they will, so time will tell. Meanwhile I am telling everyone I see that one of the best opportunites in recent years is waiting for them, so come on!
Blog posted by Melissa Evans, Exit Realty of Beaufort SC. I love selling homes in Beaufort SC. Call today to find your perfect home 843-597-4191 . Visit my website www.exitbeaufortsc.com to search our entire MLS database. Today is a great day to start to plan your move to the beautiful, sunny water-oriented community named the "#1 small town in the US"by Southern Living Readers Choice Awards