First Time Home Buyers! Confused about the Housing Tax Credits? Let me Shed Light on the Subject
Thanks to Congress and the Housing Stimulus Act there is no better time for First Time Home Buyers to purchase a home. The package and incentives are so sweet that it is leaving many non-1st time home buyers with the sour taste of jealousy in their mouths.
First let's start by explaining what a 1st time home buyer is in terms of the Housing Tax Credits. A First Time Home Buyer is some one who has A) Never purchased a home or B) One who has not owned a home in the past 3 years.
What can this do for you Baby?
Quite simply put (and to steal a quote from a famous movie), it can Show You the Money! If First Time Home Buyer purchases a home between January 1, 2009 and November 30, 2009 (closes on this date, being under contract is not enough, so don't wait till the last minute or you will miss the boat) they will receive an $8000 tax credit! Unlike the previous $7500 Tax Credit of 2008, this $8000 is NOT a loan and it DOES NOT have to be paid back. You can KEEP the money as long as you live in the home for 3 years. Not too shabby! Talk to your tax professional for additional information or follow this link http://www.irs.gov/newsroom/article/0,,id=204672,00.html.
Save Green and Get Green By Going Green!
It is a no brainer that "Going Green" and using energy efficient products can save you money. Now with the Housing Stimulus plan, not only can it save you money (as well as valuable resources) it can earn you a tax credit as well! The new Energy Tax Credit applies to everyone, not just 1st Time Home Buyers. The Energy Tax Credit allows for $1500 Energy Tax Credit for the installation of energy efficient windows or doors, insulation, and mechanical systems. Christine McInerney is one of only 5 certified Eco-Brokers(R) in the Knoxville area- a real estate designation that allows me to identify and educate clients on energy saving (and now $ saving and $ making) options. Contact me directly at 865-237-5289 for more information.
First Time Home Buyers, what are you waiting for. There are many great homes that are on the market that you can own for way cheaper than rent. Why pay someone else’s mortgage and put money in their pocket. The real estate market has taken a dip in prices, interest rates are down, and the $8000 tax credit can put money in your pocket. Contact Christine McInerney (865-237-5289) or Jennifer Halinkowski (865-621-3658) Knoxville's Green Team and lets start looking for your new home today. For more information about the world or Real Estate please visit our real estate education website at www.KnoxvilleHomeExpert.com.