If you have thinking about buying that first home, now is a great time. For those who are qualified NOW is the time for you to OWN YOUR OWN HOME! Interest rates are at a record low, home prices are favorable with a wide selection of properties to choose from and if you buy now and close before December 1st, 2009 you may qualify for the $8000 tax credit.
In its efforts to stimulate the economy and revive the housing market, Congress enacted legislation providing a tax credit of up to $8,000 for first-time home buyers.
Tax Credit Facts
The tax credit is for first-time home buyers only. For this program, the IRS defines a first-time home buyer as someone who has not owned a principal residence during the three-year period prior to the purchase.
- The tax credit does not have to be repaid.
- The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
- The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009.
- Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.
But time is of the essence for buyers who want to take advantage of this opportunity. Only homes purchased on or after January 1, 2009 and before December 1, 2009 are eligible.
Call or email me for more information or if you need an agent to assist you in finding the perfect home and taking advantage of this great opportunity to own a home before it is too late.
Brenda Jolly
Southland GMAC Real Estate
200 Midlake Drive Suite C
Knoxville, TN 37918
Office: 865-687-6657
Agent: 865:898-7896
Email: bgj31054@bellsouth.net
Website: http://www.brendajolly.net
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