WHO IS ELIGIBLE

• First-time homebuyers, who have not owned a principal residence in
the last three years may be eligible for up to an $8,000 tax credit.
• Existing homeowners who have resided in their principal residence for
five consecutive years out of the last eight and are purchasing a home to
be their principal residence (“repeat buyer”), may be eligible for up to a
$6,500 tax credit.
• All U.S. citizens who file taxes are eligible to participate in the program.

INCOME LIMITS

Homebuyers who file as single or head-of-household taxpayers can claim
the full credit ($8,000 for first-time buyers and $6,500 for repeat buyers)
if their modified adjusted gross income (MAGI) is less than $125,000.
• For married couples filing a joint return, the combined income limit
is $225,000.
• Single or head-of-household taxpayers who earn between $125,000
and $145,000, and married couples who earn between $225,000 and
$245,000 are eligible to receive a partial credit.
• The credit is not available for single taxpayers whose MAGI is greater
than $145,000 and married couples with a MAGI that exceeds $245,000.

EFFECTIVE DATES

• Homes must be purchased after Nov. 6, 2009, and before May 1, 2010.
However, home purchases subject to a binding sales contract signed by
April 30, 2010, will qualify for the tax credit provided closing occurs prior
to July 1, 2010.

TYPES OF HOMES THAT QUALIFY

• All homes with a purchase price of less than $800,000 qualify, including newly-constructed or resale, and single-family detached, townhomes or condominiums, provided that the home will be used as their principal residence. Vacation
home and rental property purchases do NOT qualify.

TAX CREDIT IS REFUNDABLE

• A refundable credit means that if the amount of income taxes you owe is less than the credit amount you qualify for, the government will send you a check for the difference.

FOR EXAMPLE:

• A first-time buyer who qualifies for the full $8,000 credit who owes $5,000 in federal income taxes would pay nothing to the IRS and receive a $3,000 payment from the government. If you are due to receive a $1,000 refund, you would receive $9,000 ($1,000 plus the $8,000 first-time homebuyer tax credit).
• A repeat buyer who owes $5,000 would pay nothing to the IRS and receive
$1,500 back from the government. If you are due to get a $1,000 refund, you would get $7,500 ($1,000 plus the $6,500 repeat buyer tax credit).
• All qualified homebuyers can take the tax credit on their 2009 or 2010
income tax return.

PAYBACK PROVISIONS

The tax credit is a true credit. It does not have to be repaid unless the home owner sells or stops using the home as their principal residence within three years after the purchase.

WHO IS ELIGIBLE

• First-time homebuyers, who have not owned a principal residence in
the last three years may be eligible for up to an $8,000 tax credit.
• Existing homeowners who have resided in their principal residence for
five consecutive years out of the last eight and are purchasing a home to
be their principal residence (“repeat buyer”), may be eligible for up to a
$6,500 tax credit.
• All U.S. citizens who file taxes are eligible to participate in the program.

INCOME LIMITS

Homebuyers who file as single or head-of-household taxpayers can claim
the full credit ($8,000 for first-time buyers and $6,500 for repeat buyers)
if their modified adjusted gross income (MAGI) is less than $125,000.
• For married couples filing a joint return, the combined income limit
is $225,000.
• Single or head-of-household taxpayers who earn between $125,000
and $145,000, and married couples who earn between $225,000 and
$245,000 are eligible to receive a partial credit.
• The credit is not available for single taxpayers whose MAGI is greater
than $145,000 and married couples with a MAGI that exceeds $245,000.

EFFECTIVE DATES

• Homes must be purchased after Nov. 6, 2009, and before May 1, 2010.
However, home purchases subject to a binding sales contract signed by
April 30, 2010, will qualify for the tax credit provided closing occurs prior
to July 1, 2010.

TYPES OF HOMES THAT QUALIFY

• All homes with a purchase price of less than $800,000 qualify, including newly-constructed or resale, and single-family detached, townhomes or condominiums, provided that the home will be used as their principal residence. Vacation
home and rental property purchases do NOT qualify.

TAX CREDIT IS REFUNDABLE

• A refundable credit means that if the amount of income taxes you owe is less than the credit amount you qualify for, the government will send you a check for the difference.

FOR EXAMPLE:

• A first-time buyer who qualifies for the full $8,000 credit who owes $5,000 in federal income taxes would pay nothing to the IRS and receive a $3,000 payment from the government. If you are due to receive a $1,000 refund, you would receive $9,000 ($1,000 plus the $8,000 first-time homebuyer tax credit).
• A repeat buyer who owes $5,000 would pay nothing to the IRS and receive
$1,500 back from the government. If you are due to get a $1,000 refund, you would get $7,500 ($1,000 plus the $6,500 repeat buyer tax credit).
• All qualified homebuyers can take the tax credit on their 2009 or 2010
income tax return.

PAYBACK PROVISIONS

The tax credit is a true credit. It does not have to be repaid unless the home owner sells or stops using the home as their principal residence within three years after the purchase.

The DuPage Homeownership Center of Wheaton, IL is offering special financing through it’s Dupage Homestead Program.  Interested?  Here are the details:

Here are a few of the general requirements to qualify for and apply for the DuPage Homestead Program:

#1. Purchase a home within DuPage County of Illinois.

#2. Minimum Credit Score of 640.

#3. Attend a DuPage Homeownership Center Qualification Class.

Funding is limited, thus, timeliness of entering the program IS A MUST!  Think of the advantages in qualifying for this program AND earning the First Time Homebuyer Tax Credit of $8,000.00!!!

Feel free to call : 630-881-7082 for further details or visit the DuPage Homeownership Center website for details:

http://www.dhoc.org/what/first_time_homebuyers/dupage_homestead

Tax Credit Extended and Expanded

November 9, 2009

TAX CREDIT 2.0

Understanding the Extended Home Buyer Tax Credit

As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed new legislation that:

• Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010.
• Expands the credit to grant up to $6,500 credit to current home owners purchasing a new or existing home between November 7, 2009 and April 30, 2010.

Who Qualifies for the Extended Credit?

• First-time home buyers who purchase homes between November 7, 2009 and April 30, 2010.
• Current home owners purchasing a home between November 7, 2009 and April 30, 2010, who have used the home being sold or vacated as a principal residence for five consecutive years within the last eight.
• To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.

Which Properties Are Eligible?

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

How Much Is Available?

The maximum allowable credit for first-time home buyers is $8,000. The maximum allowable credit for current homeowners is $6,500.

How is a Buyer’s Credit Amount Determined?

Each home buyer’s tax credit is determined by two additional factors:

• The price of the home.
  • Under the Extended Home Buyer Tax Credit, credit may only be awarded on homes purchased for $800,000 or less.
• The buyer’s income.
  • Under the Extended Home Buyer Tax Credit, which is effective on November 7, 2009,  single buyers with incomes up to $125,000 and married couples with incomes up to $225,000—may receive the maximum tax credit.

If the Buyer(s)’ Income Exceeds These Limits, Can He/She Still Get a Credit?

Yes, some buyers may still be eligible for the credit. The credit decreases for buyers who earn between $125,000 and $145,000 for single buyers and between $225,000 and $245,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income—over $145,000 for singles and over $245,000 for couples are not eligible for the credit.

Can a Buyer Still Qualify If He/She Closes After April 30, 2010?

Under the Extended Home Buyer Tax Credit, as long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close.

Will the Tax Credit Need to Be Repaid?

No. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during this three-year period, the full amount credit will be recouped on the sale.

ARE YOU A GOOD “MOVE UP BUYER” CANDIDATE?

Madison’s “Move Up Buyers” benefit in several ways.

• The $6,500 tax credit may be the difference maker for you to take advantage of a move up. To better understand how this tax credit works, CLICK HERE for information provided by the IRS.
• Interest rates are very low. I would be happy to connect you with a reliable lender offering the best rates and mortgage options.
• Although a seller may take a loss on the home they sell, the gain received is likely to be much greater. The illustration above is a great example.
• Many of the “Move Up Buyers” need to sell a home that is priced in the hottest price ranges for Dane County real estate sales. In fact, properly priced homes in good condition continue to sell quickly. The initial $8,000 tax credit created lots of activity and sales for homes priced under $300,000.
• On the flip side, the home purchase is in the price range that is currently suffering the most. In Dane County the following are the hardest hit price points are $400,000+. In September, the following stagnant sales occurred:

In fact, Dane County currently has over 65 months of “inventory” for homes in the luxury home price range. In the past year, only 13 homes have sold over $800,000. What a great time to buy your dream house at the bottom, before the market rebounds.

So, are you a good candidate to take advantage of the tax credit?

From CB Mid-Atlantic Settlements Blog:

We have received several questions lately surrounding the extension and expansion of the First Time Homebuyer Tax Credit. As I research and answer, I’ll also post here.

Q: The buyer is a single taxpayer making $130,000 a year, $10,000 of which is his employer’s contribution to the buyer’s 401(k). Assuming he qualifies in all other respects and has no other income than mentioned above, does he qualify for the tax credit?

A: Yes. The new income limit is $125,000 for a single taxpayer (increased from $75,000). The definition of “income” for the purposes of this tax credit is Modified Adjusted Gross Income. While the $10,000 in employer contributions is technically income, it is not included in the IRS definition of Modified Adjusted Gross Income and therefore the buyer qualifies with $120,000 in “income.”

Tomorrow we’ll discuss whether a buyer must sell their current house to be eligible for the $6,500 existing homeowner tax credit. Stay tuned!

Sources: here and here

Note: Please consult with a CPA before making any decisions. These posts are meant to provide the real estate community with a broad understanding of real estate topics and are not to be relied upon as legal or accounting advice.

La presente edición de los Premios SER Digital01 ya tiene sus finalistas para las diferentes categorías. En lo que se refiere a los televisores la nueva Serie 8 de los televisores LED de Samsung no han defraudado y se han hecho su particular hueco entre los nominados al premio al mejor televisor 2010.

El modelo específico con opción a la corona es el UE46B8000, dispositivo que ya ha obtenido un reconocimiento en otros medios como los premios Stuff 2009. El modelo de 40 pulgadas no se queda atrás y fue galardonado con el premio On/Off a la mejor tecnología.

La combinación entre calidad y prestaciones de los televisores LED de Samsung se hace notar cada vez más en los diferentes eventos tecnológicos que están teniendo lugar. Habrá que esperar hasta el día 10 de diciembre para saber si el premio Digital01 al mejor televisor 2010 se une a los ya logrados por la nueva Serie 8 LED de Samsung.

La marcada línea de reconocimiento de los nuevos televisores LED de Samsung ya tuvo su eco a principios de año con los galardones IDEA 2009 y los Premios EISA 2009 donde, debemos recordar, es la primera vez en la que una categoría nueva de dispositivos de televisión (la serie LED) se hace con dos galardones al mismo tiempo.

SER – Digital

According to IRS.gov the federal homebuyer tax credit has been extended until 2010.

Here are the details as outlined on the IRS.gov web site:

“New legislation, the Worker, Homeownership and Business Assistance Act of 2009, which was signed into law on Nov. 6, 2009, extends and expands the first-time homebuyer credit allowed by previous Acts. The new law:

• Extends deadlines for purchasing and closing on a home.
• Authorizes the credit for long-time homeowners buying a replacement principal residence.
• Raises the income limitations for homeowners claiming the credit.

Under the new law, an eligible taxpayer must buy, or enter into a binding contract to buy, a principal residence on or before April 30, 2010 and close on the home by June 30, 2010. For qualifying purchases in 2010, taxpayers have the option of claiming the credit on either their 2009 or 2010 return.

For the first time, long-time homeowners who buy a replacement principal residence may also claim a homebuyer credit of up to $6,500 (up to $3,250 for a married individual filing separately). They must have lived  in the same principal residence for any five-consecutive year period during the eight-year period that ended on the date the replacement home is purchased.

People with higher incomes can now qualify for the credit. The new law raises the income limits for homes purchased after Nov. 6, 2009. The credit phases out for individual taxpayers with modified adjusted gross income (MAGI) between $125,000 and $145,000 or between $225,000 and $245,000 for joint filers. The existing MAGI phase-outs of $75,000 to $95,000 or $150,000 to $170,000 for joint filers still apply to purchases on or before Nov. 6, 2009.”

So if you want to buy a home don’t hesitate, now is the time. The inventory of homes in Asheville and around the country creates an exciting buyers market and incentives like this don’t come around very often.

As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed new legislation that:

• Extends the First-Time Homebuyer Tax Credit of up to $8,000 to first-time homebuyers until April 30, 2010.
• Expands the credit to grant a $6,500 credit to current home owners purchasing a new or existing home between the date the bill is signed by President Obama and April 30, 2010.

Who Qualifies for the Extended Credit?

• First-time homebuyers who purchase homes between November 6, 2009 and April 30, 2010.
• Current home owners purchasing a home between November 6, 2009 and April 30, 2010, who have used the home being sold or vacated as a principal residence for five consecutive years within the last eight.

To qualify as a “first-time homebuyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.

Which Properties Are Eligible?

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

How Much Is Available?

The maximum allowable credit for first-time home buyers is $8,000.

The maximum credit allowed for current homeowners is $6,500.

How is a Buyer’s Credit Amount Determined?

Each homebuyer’s tax credit is determined by two additional factors:

1. The price of the home.
2. The buyer’s income.

Price

Under the Extended Homebuyer Tax Credit, credit may only be awarded on homes purchased for $800,000 or less.

Buyer Income

Under the Extended Homebuyer Tax Credit which is effective on the date the bill is signed by President Obama single buyers with incomes up to $125,000 and married couples with incomes up to $225,000—may receive the maximum tax credit.

If the Buyer(s)’ Income Exceeds These Limits, Can He/She Still Get a Credit?

Yes, some buyers may still be eligible for the credit.

The credit decreases for buyers who earn between $125,000 and $145,000 for single buyers and between $225,000 and $245,000 for homebuyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Homebuyers earning more than the maximum qualifying income—over $145,000 for singles and over $245,000 for couples are not eligible for the credit.

Can a Buyer Still Qualify If He/She Closes After April 30, 2010?

Under the Extended Homebuyer Tax Credit, as long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close.

Will the Tax Credit Need to Be Repaid?

No. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during this three-year period, the full amount credit will be recouped on the sale.

Contact me for more information at mpina@cbmove.com.

Hooray! The First Time Homebuyer Tax Credit has been extended into 2010 with modifications that will assist more home purchasers!  Here are the details:

• First Time Homebuyers may use the tax credit for purchases up to 04/30/10 and must close on the home by 07/01/10.
• Homebuyers who have lived in their residence for 5+ years and purchase a new principal residence will receive a tax credit of $6500.00.

For more details, visit our website and click on the “2010 First Time Homebuyer Tax Credit Details”.  See below:

http://tiny.cc/2010firsttimehomebuyertaxcredit

We have seen a few folks question whether it is the contract date or the settlement date which determines whether an existing homeowner qualifies for the $6,500 tax credit. The National Association of REALTORs (NAR) is indicating that it is indeed the settlement date. Even if your buyer is already under contract, as long as the settlement takes place after President Obama signed the bill (and assuming he qualifies in all other respects), he is eligible for the credit.

From the REALTOR Action Center Blog “Frequently Asked Questions” document we shared earlier:

Question: I am an existing homeowner. On October 25, 2009, I signed a contract to purchase a new home. I have lived in my current home for more than 5 consecutive years and am within the new income limits. I will go to settlement on November 20. If President Obama has signed the bill by the time I go to settlement, will I qualify for the new $6500 tax credit?

Answer: Yes. The existing homeowner credit goes into effect for purchases after the date of enactment (when the bill is signed). There is no reference to the date of contract for the new credit. The provision looks solely to the date of purchase, which is generally the date of settlement.

As always, your buyers should seek the advice of a CPA to determine eligibility for any tax credit, but this is helpful information.

From the Mid-Atlantic Settlement Services blog.

The $8,000 tax credit has been extended until the end of June 2010. Click here for full details: http://www.federalhousingtaxcredit.com/faq1.php

The news you’ve been waiting to hear!!

WHAT?: The Homebuyer Tax Credit has been extended!

WHEN?: Signed Into Law November 6, 2009.

WHO?: The Homebuyer Tax Credit was signed into legislation by President Barack Obama.

WHY?:  This new legislation was created to further spur economic recovery in the housing sector, as more buyers are now eligible for tax breaks under the new law. The $8,000 first-time homebuyer tax credit was originally set to expire on November 30.

 SO, WHAT’S NEW?: In addition to offering the $8,000 first-time homebuyer tax credit, the new law also allows a $6,500 credit for repeat or move-up homebuyers who have lived in their primary residence for five years or more.

 WHO CAN PARTICIPATE?: The tax credits are available to buyers who sign purchase agreements on a new or existing primary residence between December 1, 2009, and April 30, 2010. Buyers would have until June 30 to close on their new homes.

 ARE THERE ANY LIMITATIONS?: There is an $800,000 price limit on all homes eligible for the credit. The income limits for all buyers are now $125,000 per year for individuals and $225,000 for married couples. Under the old program, the limits were $75,000 and $150,000 respectively.

 The first-time homebuyer credit is also available to those who have not owned a home in the previous three years.

 DO I HAVE TO REPAY THE LOAN IF I MOVE?: The credit does not have to be repaid unless the home is sold or ceases to be the primary residence within three years.

 Call your Realtor today to see if you qualify.  Need a Realtor? Check out The Gaskill Group here in Flower Mound, TX…they are your educated choice in Real Estate and ready to serve all your real estate needs.

The first time home buyer’s tax credit that was scheduled to expire on 12/01/2009 has been extended until April 30, 2010.  The income limits for this have also been increased!

Here are the specifics:

• Purchasers must be first time home buyers.  This means that you must not have owned a home in the past three years.
• The credit is for 10% of the purchase price up to $8,000
• Adjusted Gross Income limits are now $125,000 for single filers and $225,000 for joint filers
• Purchasers must have a contract signed by April 30, 2010 and will have until June 30, 2010 to close
• The credit is only available for the purchase of principal residences priced up to $800,000 or less

There is also a new tax credit for “long time resident” homeowners!

Here are those specifics:

• Purchasers must have lived in their primary residence for five consecutive years in the past eight years
• Tax credit for existing “long time resident” homeowners will be 10% of purchase price up to $6,500
• Stipulations for dates, Adjusted Gross Income limits and purchase price remain the same as for First Time Home buyers

This is good news. Many people will now be able to purchase their first home or possibly move up to a bigger home.  The move up part of this is crucial to the continued growth real estate market .

Please note:  I am NOT a tax professional!  These are the rules and regulations as I understand them as a Real Estate Professional.  If you have any questions or unique situations, please contact your tax professional.  If you do not have one, I will be glad to give you some recommendations.

Home Buyer Tax Credit Extended

via First-Time Home Buyer Tax Credit “Extended” 8 Things to Know.

The much anticipated extension to the Home Buyer Tax Credit has finally been passed by Congress and is now awaiting President Obama’s signature. Since January of 2009,

First Time Home Buyers (defined as someone who has not owned property in the last 3 years) have been eligible for up to an $8,000 tax credit. However, the program has been expanded to include a $6,500 tax credit for some existing home owners who have been in their current homes for at least 5 years.

Other aspects of the new program included increases in the qualifying income ceilings to $125,000 for an individual tax payer and $225,000 for joint filers and a maximum purchase price of $800,000. The program is limited to primary residences only.

The extension is good for the next 7 months. To qualify, buyers will have to sign a purchase agreement by April 30, 2010 and close by June 30.

When asked about the extension, Senator Johnny Isakson, who heavily pushed for the extension as well as his own version that would have increased the credit to $15,000 stated, “This is probably the last extension.”

If you, or your clients, were on the fence about making a new purchase, now might be a good time to jump.

 ——————————————————-
For more information on the Home Buyer’s Tax Credit and other real estate and mortgage issues, you can contact Jeff Elofson at jelofson@peopleschoicemtg.com or visit their website at www.peopleschoicemtg.com.

President Obama just signed H.R. 3548 into law.  The tax credit was part of this legislation.  The extension and expansion of the popular first-time home buyers gives both new and move up buyers a tax incentive to buy a home until April 30, 2010. The first time homebuyers remains the same at $8,000 and offers a new credit of up to $6500 for some existing homeowners.

- The reduced credit for existing homeowners is available to those who have been in their current residence for a consecutive five-year period.

- The maximum allowed home price is $800,000

The home buyer must have a sale agreement in hand by April 30 and close escrow by June 30, 2010.

Ok everyone who wasn’t  scared into buying a home before December 1st of this year… Looks like you lucked out and 2010 is going to be your year!

Both Senate and House of Representatives passed the extension, and it’s looking like the $8,000 tax credit for first time home buyers is going to be extended for a few months!  There are a few minor changes in the bill, but it’s still a great time to be a first time home buyer!  We are just waiting for President Obama to sign the bill for it to go into effect.

Some details of the new tax credit if passed (probably tomorrow, November 6th)

• Existing tax credit will be extended until May 1, 2010. If an offer is accepted before May 1st, and closes before July 1, the credit can still be claimed.
• This applies to primary residences only. No second home or investment properties are eligible for the tax credit.
• Nocredit shall be allowed for the purchase of any residence if the purchase price exceeds $800,000.
• The old $8K credit had income limits of $75,000 for singles and $150,000 for married couples filing jointly. The income limits have been increased to $125,000 / $225,000.

Watch my fun, and always educational video to understand the status of this bill…

The First Time Home Buyer $8000 Tax Credit is going to be extended…That’s GREAT news!!!  Not only that, but there are some really positive perks added to it….

Here’s the gist of it, and I’ll dissect it further down..”Under the bill, first-time home buyers would receive the $8,000 tax credit if they sign a contract by April 30 and close on it by June 30. The plan would also make those who buy a new primary residence eligible for the $6,500 credit if they owned their current home for at least five consecutive years in the previous eight years”….”But the measure limits the purchase price of the home to $800,000. It also imposes income caps so that people who make more than $125,000 annually and couples who make more than $225,000 would not be eligible for the program.”

Targeted for first timers…” home buyers would receive the $8,000 tax credit if they sign a contract by April 30 and close on it by June 30.” AND “income caps so that people who make more than $125,000 annually and couples who make more than $225,000 would not be eligible for the program.” The tax credit amount is the same, but the good news is…they upped the income caps. It was originally $75,000 for single and $150,000 for couples. By doing that, they broadened the market base.  If you are considering buying, keep in mind that you MUST be in contract by April 30th. From this date, that only gives you approximately 4 months to find a home. If you are looking at purchasing a short sale property, you really should start NOW. You MUST close by June 30th. In many cases short sales are taking 6 months to close. 

The other part of the credit …”The plan would also make those who buy a new primary residence eligible for the $6,500 credit if they owned their current home for at least five consecutive years in the previous eight years.”  This helps both buyers and sellers. The reason it helps both is…there are currently not a lot of “non-distressed” homes on the market for buyers to choose from. Many sellers have been hesitant on putting their homes up in an unstable market. By this addition to the program, it’s an incentive to sell. Therefor giving buyers more to choose from.  Sellers that purchased their homes prior to 2004 can benefit from the great prices on homes now, and can “upsize” if they’d like. Homeowners that purchased prior to 2004 are more than likely in an equity or break even position. Nothing to lose, only to gain!  If you are a homeowner and would like to check your neighborhood values…

CURRENT HOME MARKET VALUES

 (sorry…only good for Pinellas, Pasco, Hillsborough, and Hernando Counties) 

So anyway…if you have been on the fence about buying or selling, now might be a REALLY good time to look into it! Check neighborhood home values, join some Facebook groups, and start asking questions. Two helpful Facebook Pages are listed under my links.

Source: Associated Press

Maureen Velilla

Century 21 East Lake Realty

727-710-4120

maureenvelilla@aol.com 

The House is scheduled to vote on a bill today that will give home buyers who have owned their homes for at least five years a tax credit of up to $6,500 on a new home and first-time homebuyers will get up to $8,000. To qualify, buyers in both groups have to sign a purchase agreement by April 30, 2010, and close by June 30. Now is the time to buy! Call me today to start your search!