Thursday, March 25, 2010

Get Your US Homebuyer Tax Credit Now - It Won't Be Extended Beyond April 30

Get your US homebuyer tax credit now, and it won't be extended this time beyond April 30, 2010.

Time is almost up on the federal home-buyer tax credit, the government's gift of up to $8,000, which was intended to help the housing markets.


If you are just now getting into the market and want to buy the home, now is the time to move quickly.


What to know about this tax credit:


First:  This credit would be up to $8k for first time buyers, depending upon income qualifications and price of the home.


Second:  This is for home purchased at price up to $800k.


Third:  This is an extension and covers first time and other move-up buyers who qualify for up to $6,500.


Fourth:  Your purchase contract must be signed and into escrow by April 30, 2010.  The home purchase must be completed by June 30.


Fifth:  This would be for first-time buyers who have not owned a home in the past three years. For married taxpayers, both parties must not have owned during past 3 years.


Sixth:  You cannot purchase a home from most family members and qualify for this credit.


Get going now.  This income tax credit will not be extended by US Congress beyond April 30, 2010.



Harrison K. Long, Realtor & broker, Explore Group, Coldwell Banker Previews, Irvine, CA.  CA DRE #01410855.  Lawyer member of the California State Bar Association - State Bar number 69137.  National Association of Realtors, California Association of Realtors, and Orange County Association of Realtors.  Now serving as Chairperson of Local Government Relations south committee at OCAR.  Newport Beach and Irvine area RealtorOrange County real estate broker agent and property information resource.

Get your US homebuyer tax credit now, and it won't be extended this time beyond April 30, 2010.

Posted via email from Explore OC Homes


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