Final Opportunity For Many Buyers To Take Advantage Of Federal Tax Credits Ending This Week!
Calling All Buyers! Final Days to Enter Contract for Federal Tax Credits..
This is the final week for home buyers to enter a binding contract to take advantage of the federal tax credits for certain home buyers. I think most everyone has waited to the last minute. Eligible purchasers must enter contract by April 30 and close escrow before July 1 to claim the tax credits on their federal tax returns. I have been working around the clock to help buyer's secure properties and enter contracts by Friday. A one-year extension may be available for members of the military and other federal employees who served on official duty outside the U.S. for at least 90 days from January 1, 2009 to April 30, 2010.
First-time buyers may be eligible for up to $8,000, while existing homeowners may be eligible for a tax credit of up to $6,500. Neither credit requires repayment if buyers live in the residence for three or more years.
For more information on home buyer tax credit providing incentives for buyers.
Laura Coffey, ABR, QSC, CDPE
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Now that it has expired we can all wait to see if it was a help or not to the market.
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Our prices have definitely softened (in response to #1). Buyers who buy now will probably realize more than $8000 in savings in our market (Las Vegas) anyways!