Great news if you are planning on buying or selling a home by next spring - the First-Time Home Buyer Tax Credit has been extended and expanded. GREAT NEWS! The First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers is extended until April 30, 2010. EVEN BETTER! Now current home owners purchasing a new or existing home between November 7, 2009 and April 30, 2010 may receive a credit of up to $6,500 when purchasing a new or existing home between November 7, 2009 … [Read more...]
Home Buyer's Credit Extension
October 31, 2009
UPDATED NEWS HERE! The First Time Home Buyer's Tax Credit appears likely to be extended into the first quarter of next year. An article in the Washington Post notes that: The Senate has reached a broad bipartisan consensus on extending a lucrative tax credit for first-time home buyers beyond the Nov. 30 deadline and expanding it to include some current homeowners, according to the Senate's Democratic leader. Under the plan, people buying their first home would receive an $8,000 tax credit … [Read more...]
Mid Atlantic Real Estate Market Update
October 31, 2009
Learn more about the Mid-Atlantic real estate market with this video commentary created especially for consumers. This video discusses highlights from the 3rd Quarter Trend in Housing Report: The State of the Region's Housing Market. … [Read more...]
First Time Homebuyer Tax Credit (2009) FAQ
September 16, 2009
UPDATED NEWS HERE! Time is running out on the First Time Homebuyer Tax Credit!! The current conventional wisdom is that there is only a 50% chance that Congress will renew this tax credit. Below are the highlights of the plan: Tax Plan Highlights: The tax credit is for first-time home buyers only. The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000. The tax credit does not have to be repaid. (different from the 2008 version!) The credit is … [Read more...]
First Time Homebuyer Tax Credit (2009)
February 23, 2009
UPDATED NEWS HERE!!! First Time Homebuyers now have a new tax credit that makes buying your first home a little bit easier. The passage of President Obama's stimulus plan, The American Recovery and Reinvestment Act, provides first time homebuyers with a real tax credit that packs a larger punch than last year's Housing and Economic Recovery Act Tax Credit. Confused? Let's see if we can help... The best (and simplest) explanation that I have come across was written by … [Read more...]
Housing & Economic Recovery Act
January 26, 2009
(This post is now old news! Read about the new (better!) tax credit ) I just want to remind first-time homebuyers about the Housing and Economic Recovery Act of 2008. This Act includes a $7,500 tax credit for qualified first-time home buyers purchasing homes on or after April 9, 2008 and before July 1, 2009. The following questions and answers provide basic information about the tax credit.* … [Read more...]
