tax credit for homebuyers; great news!!

Have your heard? The first time home buyer tax credit has been extended into 2010, plus there is an additional new credit for certain existing home owners for buying a home!

First time home buyer tax credit remains at up to $8,000*. The new credit is for existing homeowners who have owned and occupied a primary residence for a period of five consecutive years during the last eight years. In this case this new tax credit is up to $6,500*. * in both cases, the tax credit is based on 10% of the purchase price, up to a maximum of the figures above. First time home buyer is defined as having never owned a home, or not having owned one for the past 36 months. To qualify, purchase agreements must be signed by 4/30/10 and closings must be final by 6/30/10. This makes now an even greater time to buy a house! If not for your situation at present, please feel free to pass this information along to someone you know who may benefit from these tax credits.

Plus, for those thinking of selling, there are many buyers shopping so they can take advantage of these tax credits. As always, if you have any questions about the tax credits or buying or selling a property, I am only a phone call or e-mail away. Please let me know if I can ever help you or someone you know.

Geoff Freeman, Coldwell Banker Hunter Realty, Geneva, OH office (440) 812-4134 (cell) (440) 466-9177 (office) visit my web search listings and read my blog

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Geoff Freeman

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