Here is a summary of the new First Time Homebuyer Tax Credit. Thanks to Ann Arbor's own Missy Caulk for use of the fabulous chart!
The new bill increases the size of the existing temporary (and refundable) first-time home buyer credit to $8,000, up from $7,500. It will not be applicable for nonfirst time homebuyers, but it also removes the requirement under current law that the credit be paid back if the buyer stays in the home for at least three years. And it extends the credit's expiration date to Dec. 1, 2009, from July 1. Those eligible for this credit must have purchased a home after Jan. 1, 2009, and before Dec. 1, 2009.
First time homebuyers, search the Monmouth County MLS for your next home today!
Jo
JoAnna Siminerio
Weichert Realtors - Marlboro / Manalapan
JoSiminerio@optonline.net
www.JoTheRealtor.com
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JoAnna Siminerio
Weichert Realtors - Marlboro / Manalapan
732-598-6823 cell 732-536-4400 x116 (office)
JoAnna@JoTheRealtor.com
www.JoTheRealtor.com
Let's Connect!
JoAnna,
Thanks for posting this important information for first-time homebuyers. I recently decided to market to first-timers and this info will be very helpful. I intend to re-blog it to my blog,
Tony Orefice Realtor in Concord NC, Charlotte and surrounding areas
Working with all buyers is what I like to do but there's something special about the look on first-timers' faces, when I have found them the right home, that gives me a great feeling inside. You can't beat that!
JoAnna - Nice concise info ! I wish the tax credit was available to ALL buyers. Without it, it looks like some homebuilders may go under, but that is another story. This tax credit for first time homebuyers is a great incentive along with super low mortgage rates !