In less than 30 days two federal incentives for homebuyers will no longer be available. The credits which would benefit first time home buyers and repeat home buyers expire April 30, 2010. There’s an $8,000 tax credit for those first time buyers (defined as not having owned a home in the last three years) and a $6,500 credit for those who have owned the last consecutive five of eight years.
Low interest rates and low home prices along with the tax incentives have created a perfect buying storm but both incentives require a deal on paper by April 30, 2010 and a closing by the end of June 2010.
Ten Tips About First Time Homebuyer Credit
Contact Raymon Kondler at rkondler@kondlercpas.com to learn more!
