The $8000 First Time Homebuyer Tax Credit was extended as well, serving to energize buyers for your current home!
Some of the tidbits of the new bill include:
For First Time Homebuyers or those who have not owned a home within 3 years, the tax credit remains at $8000, with income restrictions maxing out at $125,000 for singles and $225,000 for couples. Move Up Homebuyers – those defined as having owned a home for five of the previous eight years – can now also take advantage of a credit, with the slightly lesser amount of $6500, with slightly higher income restrictions as those described above. To qualify for the new program, purchase agreements need to be signed by April 30, 2010 and close by June 30, 2010. For those in our armed forces; persons stationed outside the United States, on official duty for 90 days during the period from January 1, 2009 and before May 1, 2010, will have eligibility extended for binding contracts signed before May 1, 2011, and closed before July 1, 2011.
You waited; enjoy!! Start making your plans now for that home you have dreamed of! Lakeshore? Bigger in the 'burbs? Huge foreclosure special? Invest less than 1 hour digging into what the numbers are indicating and how waiting until now to move up, may have saved you $10's of thousands of dollars! Join me at 7:00 PM on Thursday, January 28, in the Plymouth,
RE/MAX Results office located at 2605 Campus Drive.
Sincerely,
Don Mailey
RE/MAX Results
(952) 212-0968
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