By now you’ve probably heard all about the $8,000 first time home buyer tax credit passed by Congress a few months ago. Before now, though, folks couldn’t use the $8,000 toward a down payment because they’d have to file their tax returns in order to receive the credit. Shaun Donovan,...
Tag: first time home buyer tax credit
Clear Explanation of the First Time Home Buyer Tax Credit
Real estate agents have been asked many questions about the new First Time Home Buyer Tax Credit, so here is a clear explanation of what it is, who qualifies, and how those who qualify get their money. To read up on the background of this tax credit, read our previous...
Amazing Facts About Today’s Real Estate Market
New home construction was up 22% in February compared to January of this year. It is the first time housing starts have increased since June 2008, when they rose 11%. (source: US Commerce Department) Nearly one-quarter of first-time buyers are single females who purchased their first home on a median...
New and Improved Tax Credit for Buying a Home
In 2008, Congress passed a law that offered a tax credit of $7,500 to anyone who purchases a home for the first time, up until June 30, 2009. Tax credits are better than deductions. Generally speaking, if you are entitled to a tax credit, you get the full amount, even...
Another Glance at the First Time Home Buyer Tax Credit
The U.S. Government recently passed the Housing and Economic Recovery Act of 2008. It says that the First-Time Homebuyer Tax Credit “makes a qualifying individual or a couple, who is a first-time homebuyer of a principal residence in the United States from April 9, 2008 through April 1, 2009 eligible...