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Marti Pattinson

Hesitating on Buying a Home May Cost You More

Timing is everything for many first-time buyers today. For those who purchase a home this year, the tax credit is for 10% of the purchase price, up to $8,000. Those who have owned a home in the past three years aren’t eligible. Buyers also have to meet eligibility requirements regarding income; the current credit begins to phase out for singles who make more than $75,000 and couples who make more than $150,000. 

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The current Tax Credit expires December 1st. But the buyer's property must be closed and funded by November 30th. The National Association of REALTORS has issued a Call to Action asking all REALTORS to contact our Congressmen 1.) for the credit to be extended till Dec 2010 and  2.) for an expansion to include EVRYONE & not just First Time Home Buyers. You too can contact your Congressman!

Published Friday, September 18, 2009 11:18 AM by Marti Pattinson

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