Attention First Time Home Buyers-Newly Enacted Tax Credit And How It Works

By
Real Estate Agent with The Bean Group

Thinking of buying your first home? Good news, now may be a great time to make your move! Congress has just passed and the President signed the American Recovery and Reinvestment Act of 2009 and if you have been waiting to purchase a property now is the time to act.

If you plan to live in the home as your primary residence and have not owned a property during the past three years, you may qualify for the tax credit. The government is trying to jump start the economy, as we all know, and as part of their attempt they have agreed to give a tax credit of up to $8,000 to home buyers. Here are some bullets about the plan:

The tax credit does not need to be repaid unless the home is sold within the first 3 years after purchase.

This plan is available on single family detached homes, town homes and condominiums and newly constructed as well as pre-existing homes.

The plan is for eligable purchases on or after January 1, 2009 and before December 1, 2009.

Credit amount is up to $8,000.00.

Available to first time home buyers.

Take advantage of this great opportunity by speaking with your tax adviser first and then contacting me for assistance. I have over 10 years of Real Estate Experience and have the knowledge and expertise to assist you with your home purchase. The home purchasing process can be intimidating,frustrating and the paperwork confusing. I will help you from the very start and work with you throughout the whole process, so don't put one of your most important financial decisions in just anybodies hands, contact me at cbonta@masiello.comfor an appointment. I also work closely with Wells Fargo/Great East Mortgage and their mortgage representative Michael Pillsbury, you can also contact Mike regarding your mortgage needs by e-mailing him at  michael.c.pillsbury@greateastmortgage.com .

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