What’s the deadline?
         
        To qualify, first-time and repeat buyers must have a binding written contract by April 30 and close by July 1.

 How much money is available? 

        The maximum allowable credit for first-time home buyers is $8,000.
The maximum for repeat buyers, also referred to in the legislation as "long-time residents," is $6,500.

 What properties are eligible? 

        The Extended Home Buyer Tax Credit may be applied to primary residences, including ...
                single-family homes
                condos
                townhomes
                co-ops

 How do buyers get the benefit?

        Buyers can ...
            (a) apply the credit to their 2009 tax return, filed on or before April 15, 2010; 
            (b) file an amended 2009 return; 
            (c) or apply the credit on their 2010 return, filed on or before April 15, 2011.

 Who qualifies?

        To qualify as a first-time home buyer, the purchaser
or his or her spouse
may not have owned a residence
during the three years prior to the purchase. 

        To qualify as a repeat buyer,
current home owners
must have used the home being sold or vacated as a principal residence
for five consecutive years within the last eight.

 Are there income limits?

        The new law raises the income limits for people who purchase homes after Nov. 6, 2009. 

        The full credit will be available to taxpayers with modified adjusted gross incomes (MAGI) up to $125,000.
                ($225,000 for joint filers)

        Those with MAGI between $125,000 and $145,000 are eligible for a reduced credit.
                (between $225,000 and $245,000 for joint filers)

        Those with higher incomes do not qualify.



DON'T MISS OUT ON THIS OPPORTUNITY




    CALL ME TODAY TO SET UP A TIME TO SEE SOME HOMES

    GET YOUR OFFER ACCEPTED & ESCROW CLOSED

    BEFORE THE APRIL 30, JULY 1 DEADLINES

    Call Connie at (530) 559-0088