The Real Estate Market experienced a major victory last Friday, November 6, 2009! 
The Federal Homebuyer income tax credit/rebate was extended for First Time Homebuyers (those who have NOT owned a home within the past three years), and also extended to HOMEOWNERS whom have owned a home for the past five out of eight years (consecutively).
This revised credit applies to those who sign a purchase agreement on a home no later than April 30, 2010 and close the transaction no later than June 30, 2010.
HOMEBUYER TAX CREDIT HIGHLIGHTS:
- First Time Homebuyers are eligible for up to a $8,000 tax credit (based on 10% of homes purchase price)- Home cannot exceed $800,000.00.
- Existing Homeowners are eligible for up to a $6,500 tax credit -equal to 10 percent of the home’s purchase price up to a maximum of $6,500.
- Tax Credit does not have to be repaid
- Income levels for qualification have changed to $125,000 for individuals & married couples with incomes up to $225,000 qualify for the full tax credit.
FOR ADDITIONAL INFORMATION ABOUT THE TAX CREDIT, ALONG WITH A FREQUENTLY ASKED QUESTIONS ANSWER PAGE, CLICK HERE.
As always, if you have any questions about the Homebuyer Tax Credit, selling or purchasing a home in the Las Vegas Valley, please give me a call-
Talk Soon,
Heidi Griffith
Your Las Vegas Realtor® for Life!
Realty One Group
702-540-0420
