Cash In Now With The New Homebuyer Tax Credit For First-time Homebuyers As Well As Current Homeowners

By now you’ve heard the new law, The Worker, Homeownership and Business Assistance Act of 2009, went into effect November 6, 2009, which extends and expands the first-time homebuyer tax credit, making it available to move-up buyers and expanding the income limits for purchasers.

Under the new law, home buyers have until April 30, 2010 to enter into a binding contract to qualify for the tax credit and purchase must be settled until June 30, 2010.

First-time home buyers, a buyer who has not owned a primary residence during the three years up to the date of purchase, with adjusted gross incomes up to $125K (singles) or $225K (married) can get the maximum $8,000 tax credit. Homebuyers with an income over $145K for singles or $ $275K for married may be eligible for reduced credit.

Current homeowners, a buyer must have owned and used the same home as a primary residence for at least five consecutive years of the eight-year period ending on the date of purchase of new home, meet the same income requirements the first-time buyers, are eligible for a credit of up to $6,500.

Taxpayers have the option of claiming the credit on either their 2009 or 2010 tax returns for all qualified home purchases in 2010.

Virginia Beach Pending Sales for Oct @ 794! W/ pending sale, real estate invtry @ 6 month supply . W/out pending sales supply is @ 7.85%

Good morning. Got a home to sell, or looking to purchase a home? Call for you list of Bank Owned Homes #reo 757-839-3954

Virginia Beach homes for sale –> http://tinyurl.com/vbhomesearch .. # norfolk #virginia

Working on market reports! The Hampton Roads real estate market is STRONG. Ready to get of the fence call now

Working on market reports! The Hampton Roads real estate market is STRONG. Ready to get of the fence call now

Working on market reports! The Hampton Roads real estate market is STRONG

Sending Ethan off to school…. I have a lot of market stats to review.. need a report? #fb

Getting my son ready for Scouts tonight..

Chilling out watching Sean Hannity on #FOX interviewing Michale Moore