$8000 tax credit being extended
by charlotterose on November 6, 2009
Looks like it’s a done deal. The $8000 tax credit to first time home buyers will be extended to April 30, 2010.
“Under the housing program, people buying a home for the first time in three years would receive an $8,000 tax credit if they sign a contract by April 30 and close by June 30. Homeowners who are buying a new primary residence would be eligible for a $6,500 tax credit beginning Dec. 1 if they owned their home for five consecutive years in the previous eight.
To qualify, the home must be no more than $800,000. The program also restricts eligibility to individuals who make no more than $125,000 annually and couples who make more no more than $225,000. Anyone who collects the tax credit but sells the home within three years of buying it must return the refund.” Washington Post By Neil Irwin, Dina ElBoghdady and Perry Bacon Jr.
That’s great news for everyone who was putting off buying a home this year. You still can for a while and get this credit, though once this runs out, the government is unlikely to reinstate it because just this extension of the credit is costing over $10 billion.
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A California girl raised in Nor. Cal. Travelled South the summer of 1991 and never looked back. My background is in Architecture, Design, Branding, 3D computer graphics for gaming and movies. Evolving over time into several careers including a stint as a sushi chef. I’ve been a swimmer, bicyclist, and vaulter (yeah, really vaulting is gymnastics on a moving horse). Professionally, I’m now a Realtor and help clients create wealth via investing into commercial and multi-residential unit properties. To guide others from their first investment to complete wealth is such a high for me. Love making others dreams come true. I also work as a natural health coach, I value each opportunity to help others create their ultimate self. Life is about passion and one must act on it as it can be rare. Being a Virgo, I'm down to earth and a bit of a perfectionist. Very independent, compassionate. Must always have animals in my life. Love exploring, travelling, trying new things, ocean, the outdoors, dancing, great music, playing hard, working hard, creativity, and having fun. I always go one step above what's expected of me. Love life!!!
Charlotte has written 15 articles on this blog.
