Photo is Courtesy of Re/Max
One of the components of the recently passed Stimulus Bill which probably contains the most significant potential to impact an individual person or couple, is the $8,000 Federal Tax Credit available to First-time homebuyers. This Tax Credit is available to anyone who does not currently own a home or who has not owned a home during the last 3 years. The Credit is a direct reduction of a person’s Tax liability and can even result in a Tax Refund if your Tax liability for the year is less than the amount of the Credit. The Tax Credit is only applicable to properties purchased in 2009. The Tax Credit amount received does not have to be repaid at any future date. There are Income limitations to the program. More about the Tax Credit
If you have been thinking about buying a Home or Condo, 2009 is a fantastic time to do it. Between the extremely affordable housing prices, low interest rates and this Tax Credit, it’s a no-brainer.
If you have any questions at all about the home-buying process or would like to start researching available properties in your price range, contact Lyle Plocher with Urban Connection Realty at 602 373 3725 or lyle@urbanconnectionrealty.com
