Real Estate Property Tax Credit Ending Soon
Jan 29, 2010
Now extended through the end of April, 2010 for a signed purchase contract, and for a home purchase completed by June 30, 2010, the bill also raises the income limits: single buyers up to $125,000 and married couples up to $225,000. A first-time home buyer is someone who has not owned a principal residence during the three-year period prior to the purchase.
Not only are the first time home buyers qualified for the $8,000 tax credit but now people who want to trade up may qualify for a $6,500 tax credit. Those persons who have owned and occupied a residence for at least five years out of the past eight and close on a purchase by the end of June are eligible for this opportunity. The tax credit does not have to be repaid unless the home is sold or ceases to be used as the buyer’s principal residence within three years after the initial purchase. Income limits for trade up or repeat home buyers are the same as for single home buyers.
Don’t miss the opportunity to come see what Fredericksburg Texas real estate is all about. The time is now to find your place in the Texas Hill Country! Feel free to contact me for more information at (830) 456-6243.
