- Maybe you have dreamed of a home with lake views-beautiful homes are priced to sell now!
Dreaming of a home on Lake Windward? Or may you have dreamed of living in a gated, golf community in Alpharetta, Johns Creek, Milton or Roswell, Georgia. Last chance. Congress extended the Homebuyer Tax Credit bill through April 30, 2010, for the LAST time.
This bill opens up tax credit opportunities for current homeowners unlike the first bill which was strictly for first time homebuyers.
Highlights of the new bill are:
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$8,000 tax credit for first time homebuyers (you cannot have owned a residence in the previous 3 years)
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$6,500 tax credit for “move-up” buyers so long as the home they are leaving has been used as their principal residence for five years of the previous 8 years.
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Income limits of $125,000 for an individual or $225,000 for a couple for both credits.
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The cost of the home may not exceed $800,000 in order to be eligible for the credit.
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Contracts must be written by April 30, 2010 and close by June 30, 2010.
This is a once-in-a-lifetime opportunity for home sellers. The bill does NOT mandate that you buy a more expensive home than your current residence. If you wanted to down-size, now is the time. Fixed rates are historically low. If you have thought about moving now is the time to price your home correctly and take advantage of these limited financial opportunities.
If you have questions about this new home tax credit bill-give me a call. Congress believes this will jump-start the economy and they have sid they will NOT be extending this opportunity beyond the sunset date April 30, 2010, with all contracts closed by June 30, 2010.
It’s time to get moving!!!
Tags: Alpahretta, communities, gated, Georgia, golf, home, Homebuyer tax credit, Johns Creek, Milton, Roswell
