Questions Answered About the $8,000. Homebuyer Tax Credit

Reblogger Don Rogers
Real Estate Agent with Keller Williams Realty Chesterfield

More really good information about the $8,000 tax credit for first time homebuyers.  Thanks Debe

Original content by Debe Maxwell 228209

Questions Answered About the $8,000. Homebuyer Tax Credit
Rob Dietz, Ph.D. discusses the $8,000 first-time home buyer tax credit in this video interview provided by the National Association of Home Builders. 



What does the $8,000 tax credit mean for you?

Uncle Sam

  • Buy a home and you may qualify for the $8,000 tax credit on your 2009 taxes
  • Even if you don't owe $8,000 in taxes, you may receive a refund check for the difference
  • You or your spouse can't have previously owned a home in the last 3 years
  • You cannot make more than $75,000 adjusted gross income, or if married, $150,000 adjusted gross income
  • The home that you purchase has to be your primary residence
  • If you sell the property within 3 years, you will have to repay the money back to the government.  If not, the money is yours to keep with no strings attached.
  • Consult your tax advisor for more details.
  • Consult your local expert Realtor® when you're ready to start shopping for that new home!

 

Debe in Charlotte

 

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Comments 8 New Comment

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Rainmaker
573,777
Terry & Bonnie Westbrook
Westbrook Realty - Grand Rapids Forest Hills MI Re
Westbrook Realty Broker-Owner

We need to keep pushing this program it is a great incentive for buyers

June 05, 2009 10:25 PM
Rainmaker
630,067
Don Rogers
Realtor, Broker, CDPE, GRI, OnullFallon MO & St Charles County MO homes
Keller Williams Realty Chesterfield
Terry, You are so right sir. There is still a lot of confusion around this program and hopefully that will begin to disappear.
June 06, 2009 06:43 AM
Rainmaker
543,273
Toula Rosebrock
Broker/Sales Associate, Realtor, Lacey Township,
Diane Turton, Realtors, Forked River, NJ

ToulaRosebrock,com

Hi Don:

This is a great incentive.

Even with all the media hype, I still don't think that most people understand the program.

June 06, 2009 07:08 AM
Rainmaker
630,067
Don Rogers
Realtor, Broker, CDPE, GRI, OnullFallon MO & St Charles County MO homes
Keller Williams Realty Chesterfield

Toula,

You are correct ma'am we do need to have a real clear look at this so we can explain it without any confusion.

June 06, 2009 07:35 AM
Anonymous #5
Anonymous
Anonymous
Thanks Don...I had forgotten about the $75,000/$150,000 income cap! Should cover most first-timers.
June 06, 2009 08:11 AM
Rainmaker
630,067
Don Rogers
Realtor, Broker, CDPE, GRI, OnullFallon MO & St Charles County MO homes
Keller Williams Realty Chesterfield
Good morning Gail, Thank you for stoppin in this morning. There are benefits to this program if only we could get all of the proper information and how it can help the first-time homebuyer.
June 06, 2009 08:18 AM
Rainmaker
1,735,107
William Feela
Realtor, Whispering Pines Realty 651-674-5999 No.
WHISPERING PINES REALTY
A great program with a lot of misconceptions. Thanks for the great info. We need to educate the public!
June 07, 2009 12:37 PM
Rainmaker
630,067
Don Rogers
Realtor, Broker, CDPE, GRI, OnullFallon MO & St Charles County MO homes
Keller Williams Realty Chesterfield
William, The program is good but as you say there are a lot of misconceptions and that is due to the mixed messages that we keep getting.
June 07, 2009 02:30 PM
Show All Comments
Rainmaker
630,067

Don Rogers

Realtor, Broker, CDPE, GRI, OnullFallon MO & St Charles County MO homes
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