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Unless you’ve been living under a rock for the last year, many potential home buyers & sellers were aware of the great $8,000 tax credit for 1st time home buyers. But many consumers are not aware of all the other tax credit programs that are available:
- $8,000 tax credit for 1st time home buyers extended until April 30, 2010, must close by June 30th, 2010. Click HERE for more info.
- NEW-$6,500 tax credit for move up/repeat buyers. Existing home owners must have occupied their home for 5 years. Click HERE or contact me for more detailed info.
- $1,500 tax credit for energy efficiency updating for existing homes. Improvements must be completed by December 31, 2010. Most popular updates are: new furnace, central air, tankless water heaters, windows, doors, patio doors, water heaters, etc. Click HERE for completed list of eligible improvements and more info.
- State of Ohio Energy Efficient Appliance Rebate Program. Ohio residents can receive anywhere from $100 to $250 for EACH eligible appliance that they replace ($700 maximum). Program starts 1st quarter of 2010. This rebate program offers the perfect excuse to buy a new expensive front loading, super high-efficiency steam washer & dryer. Program ends when funds are depleted. Rebates will possibly only last 4-6 weeks. Important info: Ohio appliance rebate program, Ohio offers rebates for Energy efficient appliances, Rebate Program Outline
We hope this information can help save you some money. Please contact me if you have additional questions.
Disclaimer: Please consult a tax professional or accountant for additional details and eligibility questions regarding the federal tax credit programs. Thoroughly review all guideline requirements for energy-efficient home improvements or appliances before making the purchases.
Good luck out there.
Representing People, NOT Property!
The clock is ticking down for first time home buyers. You need to act NOW to make sure that you don’t miss out on the $8,000 from Uncle Sam.
Here is the fast, quick information you will need to see if you qualify for the $8,000 tax credit for first-time home buyers from The American Recovery and Reinvestment Act of 2009.
- You must be a first time home buyer, defined as not owning a home in the past 3 tax years.
- Tax credit amount is 10% of the sales price of the home up to a maximum of $8,000.
- There is NO price limit on the sales price of home.
- Maximum income to receive FULL tax credit is $75,000 for a single person, the limit for married couples is $150,000.
- You can receive a PARTIAL tax credit for income levels up to $95,000 for a single person and $170,000 for married couples.
- There is no payback or penalty as long as you stay in home as your principal residence for 3 years.
- You must CLOSE on your new home on or after January 1, 2009 or before December 1, 2009.
***IMPORTANT: Congress passes tax credit extension. Must have binding sales contract dated on or before April 30, 2010 and close on or before June 30th, 2010.
This is the quick & dirty information that you need right now for the $8,000 Tax credit. For more detailed information you can go HERE.
It is a great time to be a home buyer. This is the perfect time to by a home, especially 1st time home buyers, as long as your job is secure. If you feel safe in your current employment/job, then there are just so many positive reasons to now buy a home. Don’t miss the “gravy train!”
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Buyer’s market
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Really low mortgage interest rates
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High inventory levels. Plenty of home options
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Depressed, low prices (buy low, sell high)
Please contact me if you have more questions or need help.
IMPORTANT: I’m just trying to help the “average Joe home owner” to understand the new $8,000 tax credit. I have to put this” CYA” disclaimer in my post. Please consult a tax professional or accountant for more details and eligibility questions regarding the $8,000 1st time home owner tax credit. I’m not an accountant or tax professional.
Good luck out there!
My Buyer Broker Advocate! 
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