$8,000 First-time Home Buyer Tax Credit at a Glance

The $8,000 tax credit is for first-time home buyers. For the tax credit program, the IRS defines a first-time home buyer as someone who has not owned a principal residence during the three-year period prior to the purchase.

*The tax credit does not have to be repaid unless the home is sold or ceases to be used as the buyer’s principal residence within three years after the initial purchase.

*The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.

*The tax credit applies only to homes priced at $800,000 or less.

*The tax credit now applies to sales occurring on or after January 1, 2009 and on or before April 30, 2010. However, in cases where a binding sales contract is signed by April 30, 2010, a home purchase completed by June 30, 2010 will qualify.

*For homes purchased on or after January 1, 2009 and on or before November 6, 2009, the income limits are $75,000 for single taxpayers and $150,000 for married couples filing jointly.

*For homes purchased after November 6, 2009 and on or before April 30, 2010, single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit.

Carlos Salinas
"Real Estate Magician" and LOANS at REMagician.com

Why Use A Realtor

Reason #1 - Realtors® know your market. Realtors® are in a position to know what’s happening in the real estate market, not just in your state and your community, but in your neighborhood. As trained professionals who may have seen hundreds of homes similar to yours and know their features and selling prices, a professional is well qualified to set a price that can bring the maximum number of offers for your home.
Reason #2 - Realtors® sweat the details. Accurate pricing, qualifying potential buyers, positioning advertising for maximum exposure, evaluating potential offers, negotiation and closing the sale are some of the basic skills needed to successfully sell your home. Then there are environmental, government and disclosure requirements that must be followed.
Reason #3 - Realtors® know marketing. Marketing that attracts offers, not just lookers. A coordinated marketing campaign using the right combination of print advertising, direct mail and the Internet ensures your home receives maximum exposure. And an experienced Realtor® can advise you on cost-effective strategies for ensuring your home looks its best to potential buyers.
Reason #4 - Realtors® are pros at bringing buyers and sellers together. A Realtor® may already have a buyer for your home! Successful Realtors® are continually replenishing their rosters of potential buyers, as well as networking with other real estate professionals who may have the perfect buyer for your home.
Reason #5 - Realtors® reduce stress. Are you prepared to show your home in the middle of the day? Every weekend? Realtors® have the time to show your home whenever it is convenient for a potential buyer. It’s their job. And they are available to respond quickly and courteously to inquiries by phone call, email and fax. Think of a Realtor® as your personal home sales assistant.

Call or email now for ALL Your Real Estate Needs including Mortgage Loans & Refinance.
Carlos Salinas
"Real Estate Magican"