First Time Home Buyers Credit!

Posted on 02/19/2009. Filed under: Getting Ready to Buy?, SW Florida Investments | Tags: , , |

First time Buyers - take advantage!

First time Buyers - take advantage!

Another reason it’s a great time to buy in Florida – first time home owner tax credit!  A first time home buyer can receive up to $8000 tax credit if they purchase now.

Some of the details:

  • New definition of 1st time home buyer is anyone who has not owned a home in the past three years.
  • This is a credit which means it does not need to be repaid.
  • The credit is based 10% of the purchase price of the house up to $8000.
  • The house needs to be purchased between January 1, 2009 and December 1, 2009 (need to hurry!).
  • Can be claimed on 2008 taxes if not filed yet (another hurry to get on this!).
  • Based on single income of up to $75,000 or married, combined income up to $150,000.

Combined with the large inventory of available homes, special mortgage programs for first time buyers and the rock-bottom house prices, what’s stopping new home owners?  I think it needs repeating that the new definition of a first time buyer is anyone who has not owned a house in the last three years.  If the economy, a transfer or change of  family has turned you into a renter for the past three years, now is a great time to buy a house again.

To see the great prices on houses in Lee County, Florida the way Realtors do, check out this great site:  http://fortmyersrealestate.listingbook.com.

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