Home Buyer Tax Credit
February 27, 2009
According to today’s Wall Street Journal, the tax credit is for first time home buyers only that are buying between April 2008 and June 2009. The credit is now nonrefundable. That means that the existing $7,500 credit is increased by $500 and no longer needs to be paid back as an interest free loan over 15 years, as was previously the case.
The National Association of Realtors provided a different window on effective dates, however. They indicate that the pending legislation is $8,000, but that it is for purchases made between January 1, 2009 to December 1, 2009. And if the home is resold within 3 years the credit must be recaptured on the sale of the property, but if it is held for more than 3 years it is nonrefundable.
In addition, the existing credit was ineligible for homeowners utilizing revenue bond financing. That provision, according to NAR, has been eliminated.
Stay tuned: once the legislation passes both the House and Senate we’ll have the final facts to you ASAP!
Welcome to my Blog
February 17, 2009
Welcome to my blog. My team and I are committed to providing you with the finest Real Estate services in the Lake Tahoe/Reno region. I would like to invite you to come back in the near future to find useful tips on buying or selling a home, updates on the local real estate market, and other real estate/ business news that I think you will find insightful and helpful.
Also, you can find the most current information on available properties at the following link:
http://www.renotahoerealtyblog.com/search-properties/
If you can’t find a particular property, please give us a call and we would be more than happy to customize a search for you. We can help with securing difficult financing and also are experienced with short sales and foreclosures. If you just want to know what homes are selling for your neighborhood please give our office a call and we can provide you with a free market snapshot of any specific area.
Tahoe/Truckee Office number 530-550-7500
Reno Office number 775-787-7600
Thank you for visiting my blog I look forward to having the opportunity to assist you in the future.
Best Regards,
Roger Rempfer
