Great deals in real estate aren’t over yet!
A home buyer tax credit was available for even web hosts like us here at WorldPace, in the amount of $8,000. There are no future extensions so the federal government is urging all qualified homebuyers to take action and put a written, binding contract in place. This is for those who have not owned a home in the last three years. The deadline was April 30, 2010 and closing is expected to take place before June 30, 2010. However even though the deadline has passed, you can still find homes for sale in flower mound , at a great price!
There are income limits for this plan. Income limits at this stage are $125,000 for single persons, $225,000 for married couples this also includes a $20,000 phase out of the credit for both. The hope is that this substantial tax credit of $8,000 will help enhance movement in the real estate market and help would be home owners into a new home in our current economy.
Also included in this opportunity are homeowners who have lived in a current home for at least five consecutive years of the last 8 years. These individuals can receive up to a $6,500 tax credit.
Approximately 2 million people have taken advantage of the opportunity that the tax credit provides in 2009. According to The National Association of Realtors News Release, dated 11/5/09, already added to the general economy resulting from the bill is an estimated $22 billion.